January 2, 2024
United States:
Nasdaq Futures Drop 1%, Bonds Retreat After Rally: Markets Wrap
US stock futures and Treasuries dropped as traders trimmed their bets on interest-rate cuts and speculated that the recent rally has been overdone.
Futures on the Nasdaq index lost 1.2%. Apple Inc. fell in premarket trading after an analyst at Barclays Plc warned that iPhone demand is cooling. The 10-year Treasury yield rose nine basis points to 3.97%. Brent crude surged more than 2% after Iran dispatched a warship to the Red Sea.
https://www.bloomberg.com/news/articles/2024-01-01/stock-market-today-dow-s-p-live-updates
Europe:
Russia’s Seaborne Crude Exports Surge to End 2023 on a High
Russia’s seaborne crude exports ended the year on a high, as four-week average shipments climbed to the highest since early November and weekly flows jumped to the most since July.
About 3.46 million barrels a day of crude were shipped from Russian ports in the four weeks to Dec. 31, tanker-tracking data monitored by Bloomberg show. That was up by 230,000 barrels a day from the period to Dec. 24. The more volatile weekly average jumped by 560,000 barrels a day to 3.78 million.
Asia:
China’s Patchy Recovery Keeps Asia’s Factories in a Slump
Manufacturing in Asia ended the year on a weak note as sluggish economic activity in China and other developed markets dampened demand for the region’s goods.
Most of Asia saw a slowdown in new orders and production volumes in December amid tepid customer appetite, according to the manufacturing purchasing managers’ index published Tuesday by S&P Global. Input costs also rose and supply chain performance worsened.
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