Daily Updates

US stocks began their trading week in a positive fashion, supported by easing concerns over trade restrictions and greater clarity about some other federal policies. This came after US President Donald Trump signed the first round of executive orders on his first day in office, while Chinese officials also contributed with some positive comments.

US financial markets were closed for the Martin Luther King Jr. Day holiday, but US equity futures were on a rise for most of the trading day, as increases in import tariffs were missing from the list of executive orders US President Donald Trump is signing on his first day in office.

US equities rounded out their best week since the US elections in November, with the S&P 500 adding a further 1% on Friday, with traders bullish leading up to President-elect Donald Trump’s inauguration tonight.

The US equity market was directionless overnight, sliding in an out of positive territory before a late fall drove the major indices into the red. The fall came after strong sessions in Europe and the Asia-Pacific, including a 1.4% increase in the ASX 200. The Aussie market jumped at the open and maintained most of its early gains over the rest of the day.

The US equity market had its best day since November and US treasury yields slumped, dragging global bond yields lower, after the US core CPI came in better than expected.

Trade was choppy on Wall Street overnight, with the market drifting in an out of positive territory after initially climbing amid a tame US producer price index report, which raised hopes for a similarly benign CPI report tonight. The S&P 500 eventually closed marginally higher.