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.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.