CURRENCY MARKET WRAP
As of Tue 31st Dec, Singapore Time zone UTC+8
U.S. Dollar Index, -0.23%, 96.74
USDJPY, -0.51%, $108.88
EURUSD, +0.22%, $1.1206
GBPUSD, +0.16%, $1.3111
USDCAD, -0.11%, $1.3061
AUDUSD, +0.27%, $0.7001
NZDUSD, +0.45%, $0.6734
There was little news of consequence to generate excitement in the market, although it was reported that China’s Vice Premier Lie Hue could visit Washington this weekend to sign a Phase One trade deal. U.S. negotiators are still waiting for their agreement to be translated into English, according to Director of Trade and Manufacturing Policy Peter Navarro.
U.S. Treasuries ended the session mixed, contributing to some curve-steepening activity. The 2-yr yield declined two basis points to 1.56%, while the 10-yr yield increased two basis points to 1.90%. The U.S. Dollar Index declined 0.23% to 96.74. WTI crude declined 0.2%, or $0.10, to $61.64/bbl.
STOCK MARKET WRAP
S&P500, -0.58%, 3,221.29
Nasdaq, -0.67%, 8,945.99
Nikkei Futures, -1.40%, 23,422.5
Having entered yesterday’s session fresh off a series of record highs, including one on Friday, the broader market appeared overdue for some selling activity before the new year. All 11 S&P 500 sectors finished in negative territory with the communication services sector (-1.0%) declining the most. Interestingly, Apple (AAPL 291.52, +1.72, +0.6%) remained resilient and finished with a solid gain.
In automotive action, shares of Tesla (TSLA 414.70, -15.68, -3.6%) pulled back from record territory amid a cautious outlook from Cowen. Chinese competitor NIO (NIO 3.72, +1.30, +53.7%) rallied 54% following its earnings results.