Stock Market Today: Dow, S&P Live Updates for January 18, 2020

Photographer: Nicolas Asfouri / AFP / Getty Images

US equities futures fell and Asian equities were mixed on Monday amid investors’ caution at the start of the week, even though data showed China’s economic recovery was still on track. The dollar has moved up.

South Korean and Taiwanese shares retreated when sentiment against disk component manufacturers hit hard news that the Trump administration will restrict licenses to several Huawei Technologies Co. suppliers. Hong Kong and Chinese equities posted modest gains after beating growth and industrial production data expectations. S&P 500 futures contracts showed lower with European contracts. Crude oil slipped.

Due to the Martin Luther King Jr. holiday, no cash coffers are being traded, although U.S. bond futures have advanced. The S&P 500 closed lower on Friday and support for Treasury fell 10-year notes to around 1.08%.

Global stocks slipped last week after optimism about the US $ 1.9 billion aid package and the so-called reflection trade, which matured over a holiday weekend. Investors are waiting for the inauguration of Joe Biden, who will address the US presidency on Wednesday with an outline of how he will address the health and economic crises he is inheriting.

“Markets needed a break or even a setback to justify the relationship expectations,” said Ben Emons, managing director of global macro strategy at Medley Global. Advisors.

Meanwhile, Janet Yellen is expected to reaffirm the US commitment to market-determined exchange rates and provide assurance that the US will not seek a weaker currency for competitive trade advantages, the Wall Street Journal reported, citing Biden transition officials familiar is in preparation for her confirmation. trial as treasury secretary.

Tensions between America and China are still bubbling in the last days of Donald Trump’s presidency. The US government has notified several Huawei suppliers that they are withdrawing licenses to work with the Chinese firm and reject other applications, Reuters reports, citing unknown people familiar with the matter.

On the coronavirus front, business is approaching the 95 million mark, while the US death toll from Covid-19 was 400,000. Norway has expressed growing concern about the safety of the Pfizer Inc. vaccine for the elderly with serious underlying health conditions following the deaths of 29 people who received vaccinations.

These are some important events ahead in the coming week:

• The U.S. stock and securities markets closed Monday for the Martin Luther King Jr. holiday.
• The earnings come from companies including Bank of America, Morgan Stanley, Procter & Gamble, Intel and Netflix.
• Joe Biden will take office as US president on Wednesday.
• Policy decisions are due to take place on Wednesday from central banks in Brazil, Malaysia and Canada. The Bank of Japan and the ECB will deliver decisions on Thursday.

Here are the key movements in markets:

Stocks

• S&P 500 futures contracts slipped 0.2% in Tokyo from 01:43. The index fell 0.7% on Friday.
• Japan’s Topix index fell 0.7%.
• Hang Seng in Hong Kong rose 0.5%.
• South Korea’s Kospi lost 1.5%.
• Shanghai Composite rose 0.7%.
• Euro Stoxx 50 futures lost 0.3%.

Currencies

• The yen was at 103.76 per dollar, up 0.1%.
• The Bloomberg Dollar Spot Index climbed 0.1%.
• The euro bought $ 1.2069.
• The foreign yuan is trading at 6.4944 per dollar.

Effects

• The yield on 10-year treasury ended at 1.08% last week.

Commodities

• West Texas Intermediate crude oil slipped 0.8% to $ 51.93 a barrel.
• Gold was steady at $ 1,828.24 an ounce.

– With help from Cormac Mullen