- Global stocks were on track for their biggest four-day rally since November 2020, with US index futures jumping as firms from the United States to Europe announced better-than-expected profits and dip-buying in technology shares continued.
- Futures on the NASDAQ 100 index increased by 1.4%, while those on the S&P 500 increased by 0.7%. After reporting strong results, Google and AMD both increased by at least 10% in New York premarket trading. For the first time since January 21, Europe's STOXX 600 index moved above its 50-day moving average. Oil prices hovered at a seven-year high ahead of an OPEC+ conference on growing supplies. The dollar fell in value.
- As the year begins, investors have been torn between concern about the Federal Reserve's tightening and optimism about the economy's rebound. A strong earnings forecast is helping to alleviate the uncertainty, at least for the time being. However, a wall of concerns remains in the backdrop, including stubborn inflation, regulatory difficulties in China, and pandemic outbreaks.
- Traders move their bets on an ECB rate hike of 10 basis points to July.
- Eurozone Money Markets now price in 30 BPS of ECB rate hikes by December 2022.
- Kremlin: Russia has strategies to mitigate the effects of impending US sanctions.
- Japan's $1 trillion crypto market may ease onerous listing rules.
