Invesco DB USD Index Bullish Fund ETF (ARCA: UUP)

最新ニュース Invesco DB USD Index Bullish Fund ETF (ARCA:UUP)

PowerShares DB USD Index Bullish

The fund invests in futures contracts in an attempt to track its index. The index is calculated to reflect the changes in market value over time, whether positive or negative, of long positions in DX Contracts.

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Invesco DB US Dollar Index Bullish Fund

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2020年6月以来、消費者物価指数（CPI）報告が連邦公開市場委員会（FOMC）の会合と同日に発表されるのは初めてのことだ。このことは、金融市場にとって潜在的にボラティルな水曜日を予示している。

消費者物価指数がFOMCで異例の報告

Invesco DB USD Index Bullish Fund ETF

On Thursday, January 16, U.S. markets ended lower as investors assessed corporate earnings and economic data, weighing the potential for slower Federal Reserve rate cuts. Strong bank results lifted sentiment, while resilient consumer spending and a firm labor market reinforced a cautious market outlook.
According to economic data, U.S. retail sales grew by 0.4% in December, down from a revised 0.8% in November and below the 0.6% forecast. Initial jobless claims rose by 14,000 to 217,000 for the week ending January 11, exceeding the 210,000 estimate.
Most S&amp;P 500 sectors ended higher, led by utilities, real estate, and industrials, while information technology and communication services lagged, closing in the red.
The Dow Jones Industrial Average was down 0.16% and closed at 43,153.13, the S&amp;P 500 closed lower by 0.21% at 5,937.34, and the Nasdaq Composite fell 0.89% to finish at 19,338.29.
Aisa Markets Today
<ul>
<li>On Friday, Japan's Nikkei 225 closed lower by 0.41% at 38,438.00, led by losses in the Transport, Automobiles and parts, and Pharmaceutical Industries sectors.</li>
<li>Australia's S&amp;P/ASX 200 declined 0.20%, ending at 8,310.40, led by losses in the Financials, Telecoms Services, and A-REITs sectors.</li>
<li>India's Nifty 50 closed lower by 0.47% at 23,203.10, and the Nifty 500 declined by 0.17%, closing at 21,678.30.</li>
<li>China's Shanghai Composite gained 0.18% and closed at 3,241.82, and the Shenzhen CSI 300 rose 0.31%, finishing the day at 3,812.34.</li>
<li>Hong Kong Hang Seng closed the session higher by 0.31% at 19,584.06.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 was up 0.64%.</li>
<li>Germany's DAX rose 1.03%.</li>
<li>France's CAC rose 0.88%.</li>
<li>U.K.'s FTSE index 100 traded higher by 1.05%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.54% at $78.25/bbl, and Brent was up 0.37% at $81.58/bbl.</li>
<li>Oil prices rose, heading for a fourth weekly gain, driven by U.S. sanctions on Russian energy, demand recovery expectations, and cold weather, despite easing tensions in Yemen and refinery data concerns.</li>
<li>Natural Gas declined 2.94% to $4.134.</li>
<li>Gold was trading lower by 0.75% at $2,730.41, Silver was down 1.46% to $31.270, and Copper rose 0.09% to $4.4452.</li>
</ul>
U.S. Futures at 05:30 AM ET
Dow futures were up 0.29%, S&amp;P 500 futures rose 0.33% and Nasdaq 100 futures gained 0.42%.
Forex at 05:30 AM ET
<ul>
<li>The U.S. Dollar Index rose 0.09% to 109.04, USD/JPY gained 0.24% to 155.69, and USD/AUD gained 0.11% to 1.6116.</li>
<li>The dollar steadied but is set to end its six-week winning streak, pressured by expectations of U.S. rate cuts and Japan's potential rate hike.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

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Asia Markets Mixed, Europe Advances, Natural Gas Dips - Global Markets Today While US Slept

Scott Bessent, Donald Trump's nominee for Treasury Secretary, faced sharp questioning in his Senate confirmation hearing Thursday, defending the administration's economic agenda on tariffs, tax policy, government spending, <a href="https://www.benzinga.com/news/econ-s">and U.S. global competitiveness.</a>
Markets took note as Bessent outlined a vision that could steer fiscal policy, trade, and energy. He also reinforced the dollar's role as <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43021014/trumps-treasury-pick-scott-bessent-urges-dollar-must-remain-worlds-reserve-currency-as-president-elect-reportedly-pushes-for-strategic-bitcoin-reserve">the world's reserve currency</a>.
His remarks signal a return to Trump-era economic priorities — lower corporate taxes, higher tariffs, and increased domestic energy production—with significant implications for investors.
Here are five key takeaways. 
<h3 class="wp-block-heading">1) Will Tariffs Make The Dollar Even Stronger?</h3>
Bessent defended Trump's broad tariff proposals, rejecting claims they would act as a direct tax on American consumers.
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42240108/trump-tariffs-could-hit-pockets-of-consumers-retailers-urge-customers-to-shore-up-purchases-experts-warn-a-stronger-dollar-might-still-not-make-up-for-deficit">Trump Tariffs Could Hit Pockets Of Consumers, Retailers Urge Customers To Shore Up Purchases</a>
He cited economic models suggesting that the costs wouldn't fully pass through to U.S. buyers but would instead be offset by currency appreciation, changing consumer behavior, and price adjustments by foreign producers.
"If we were to say use a number that has been thrown around in the press at 10% [universal tariffs], then traditionally the currency appreciates by 4%," Bessent said, indicating that a stronger dollar would offset some of the inflationary effects of tariffs.
Bessent also stressed the importance of safeguarding the U.S. dollar's status as the world's reserve currency, tying it directly to economic stability and national security.
During his confirmation hearing, he stated: &#8220;Critically, we must ensure that the U.S. dollar remains the world&#8217;s reserve currency."
He also indicated that tariffs could be a powerful tool in negotiations, potentially replacing sanctions in some cases. He referenced Trump's belief that sanctions may be pushing countries away from the U.S. dollar, indicating that tariffs could serve as a more strategic alternative.
His comments suggest that if Trump's tariffs are enacted, investors should watch for dollar strength, which could have major implications for exporters, multinational corporations, and commodity prices. 
Since Trump was elected in November, the U.S. dollar index (DXY) – as broadly tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436633/trump-has-a-dollar-problem-president-elect-favors-weaker-currency-but-potential-tariffs-might-end-up-strengthening-the-greenback-instead">has risen by 5%</a>.
<h3 class="wp-block-heading">2) Trump's 2017 Tax Cuts Must Be Permanent</h3>
Bessent made clear that one of his top priorities is making Trump's 2017 tax cuts permanent, warning that allowing them to expire would create "an economic calamity" with &#8220;devastating&#8221; effects. 
If Congress does not act, Americans could face what he called a "gigantic middle-class tax increase" totaling $4.3 trillion starting in 2026.
&#8220;We must make permanent the 2017 Tax Cuts and JOBS Act, and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers, and seniors,&#8221; Bessent stated.
According to Bessent, such measures could increase U.S. GDP by 1.1% over time and boost business investment.
He also dismissed criticism that the tax cuts <a href="https://www.benzinga.com/personal-finance/24/11/42146895/are-you-rich-enough-to-benefit-from-trumps-tax-breaks-heres-how-much-youd-need-to-be-part-of-the-top-5">primarily benefited the wealthy</a>, arguing that "the top 50% of Americans now pay 98% of taxes."
&#8220;I believe Wall Street has done great the past few years and that Main Street has suffered. I think it&#8217;s Main Street&#8217;s time. Wall Street can continue to do well, maybe not as well, and it&#8217;s time to have a Main Street small-business-led recovery,&#8221; Bessent said.
See Also: <a href="https://www.benzinga.com/personal-finance/24/10/41313947/expert-finds-trumps-tax-proposal-drains-money-from-95-of-households-and-funnels-it-to-the-top-5-">Trump&#8217;s Tax Proposal Drains Money From 95% Of Households And Funnels It To The Top 5%, ITEP Says</a>
<h3 class="wp-block-heading">3) Spending Cuts And Deficit Control: Austerity Incoming?</h3>
Bessent painted a stark picture of Washington's fiscal trajectory, stating: "The United States does not have a revenue problem. We have a spending problem." 
He highlighted that the federal deficit has averaged 7% of GDP over the past four years, calling for major reductions in government expenditures.
&#8220;One of the things that got me out from behind my desk and my quiet life in this campaign was the thought that this spending is out of control,&#8221; Bessent said.
"We must work to get our fiscal house in order and adjust federal domestic discretionary spending that has grown by an astonishing 40% over the past four years," he added. 
Though he didn't specify which programs could face cuts, he indicated that federal agencies must prioritize productive investments over what he described as "wasteful spending that drives inflation."
Investors should brace for intense fiscal battles in Congress as lawmakers weigh <a href="https://www.benzinga.com/general/24/10/41653514/musk-says-us-must-live-within-our-means-with-proposed-2-trillion-spending-cut">spending reductions against economic risks</a>.
<h3 class="wp-block-heading">4) Energy Policy: More Domestic Drilling, Tougher On Russia And Iran</h3>
Bessent strongly aligned with Trump's call for "unleashing American energy production," arguing that higher domestic output is critical for economic growth and national security. 
He indicated that Biden's reluctance to impose tougher sanctions on Russian oil exports was driven by fears of rising U.S. fuel prices.
"If any officials in the Russian Federation are watching this confirmation hearing, they should know that if I'm confirmed… I will be 100% on board for taking sanctions up, especially on the Russian oil majors, to levels that would bring the Russian Federation to the table," Bessent stated.
The Treasury nominee also linked energy security to broader U.S. foreign policy, arguing that increased American oil production could help pressure adversaries like Iran.
See Also: <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">US Produced More Oil Under Biden Than At Any Point Under The Trump Administration</a>
&#8220;We can make Iran poor again, not the Iranian people, the Iranian, the government, and then at the same time have our domestic producers push that up with the highest energy standards in the world,&#8221; Bessent said.
<h3 class="wp-block-heading">5) Countering China</h3>
Bessent signaled a tougher stance on China, arguing that the country's economic struggles are pushing it toward aggressive trade tactics. 
"China is the most unbalanced economy in the history of the world," he said, emphasizing that Beijing is attempting to "export their way out of their current economic malaise."
&#8220;They are using their surpluses to fund their military machine in China,&#8221; Bessent added.
To counter this, he backed stronger controls on U.S. investment in China, particularly in strategic sectors such as artificial intelligence, quantum computing, and semiconductors. 
&#8220;We want to make sure that we maintain [the lead] through smart policies,&#8221; he said. 
Check Out: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43036184/us-energy-sector-had-a-strong-start-to-2025-analysts-eye-constructive-setup-for-chevron">US Energy Sector Enjoys Strong Start To 2025, Analysts Eye &#8216;Constructive Setup&#8217; For Chevron</a></li>
</ul>
Image: Shutterstock

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5 Things Investors Need To Know About Scott Bessent's Economic Policies As He Faces Senate Grilling For Treasury Job

U.S. retail sales edged higher in December, showing that consumers kept spending through the holiday season, but the increase wasn't as strong as economists had hoped. At the same time, an unexpected rise in weekly jobless claims hinted at <a href="https://www.benzinga.com/news/econ-s">a cooling labor market.</a>
Retail and food services sales rose 0.4% last month, decelerating from upwardly revised 0.8% growth in November, according to advanced estimates from the U.S. Census Bureau released Thursday.
The outcome was slightly below the 0.6% increase economists expected, according to TradingEconomics estimates.
Compared to a year earlier, sales were up 3.9%, below November's 4.1% annual gain.
Excluding auto sales, retail sales were 0.4% higher on the month, accelerating from November&#8217;s 0.2% growth and matching expectations.
<h3 class="wp-block-heading">Some sectors thrive, others struggle</h3>
Consumer spending wasn't uniform across the board. Some sectors showed strength, while others weakened.
Miscellaneous store retailers marked a 4.3% monthly growth in sales, reversing the 3.9% drop witnessed in November. 
Sporting goods, hobby, musical instrument and book stores also showed a notable 2.6% increase.
E-commerce witnessed a growth slowdown, with nonstore retailers — such as Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) — seeing 0.2% growth, down from 1.8% in November.
Certain retailers struggled.
Building material, garden equipment and supplies dealers saw a 2% drop in December, with the sales decline worsening from November&#8217;s 0.8% dip.
Food services and drinking places also saw a contraction of 0.3% in monthly sales following a marginal 0.1% increase in November.
Excluding auto and gas sales, retail spending still rose 0.3%, showing an increase from November&#8217;s 0.2%.
<h3 class="wp-block-heading">Jobless claims rise</h3>
New unemployment claims climbed to 217,000 for the week ending Jan. 10, up from 203,000 the prior week, according to the U.S. Department of Labor. The increase was above economist expectations of 210,000.
Continuing claims fell to 1.859 million, down from the previous 1.87 million and below expectations of 1.867 million.
Although one week's data isn't enough to confirm a trend, a continued rise in jobless claims could indicate that hiring is slowing, potentially weighing on consumer spending in the months ahead.
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar marginally rose, with the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) inching 0.2% higher, while Treasury yields ticked slightly lower, with the 10-year note falling 2 basis points to 4.66%.
Stock futures, on the other hand, were little moved. S&amp;P 500 futures were up 0.1%, while Nasdaq 100 futures gained 0.4%.
The gains followed a strong session on Wednesday when the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) jumped 1.8% after a softer-than-expected inflation report fueled speculation the Federal Reserve may cut interest rates sooner than previously expected.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43013717/fed-beige-book-flags-moderate-growth-yet-tariffs-immigration-policies-spark-concerns">Fed Beige Book Flags Moderate Growth, Yet Tariffs, Immigration Policies Spark Concerns</a></li>
</ul>
Photo via Shutterstock.

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Retail Sales Disappoint, Jobless Claims Rise: Is US Consumer Losing Steam?

On Wednesday, January 15, U.S. markets closed significantly higher, with major indexes recording their largest gains in over two months. The rally was fueled by softer-than-expected inflation data (CPI, PPI) and robust bank earnings. While expectations for Federal Reserve rate cuts increased, concerns about inflation and potential policy shifts under the incoming Trump administration persisted.
In economic data, the Consumer Price Index rose 2.9% year-over-year in December, up from 2.7% in November, aligning with forecasts. Monthly inflation climbed 0.4%, the sharpest increase since March 2024, following November&#8217;s 0.3% gain.
Most S&amp;P 500 sectors rose, with consumer discretionary, communication services, and financials leading gains, while consumer staples closed slightly lower.
The Dow Jones Industrial Average was up 1.65% and closed at 43,221.55, the S&amp;P 500 closed higher by 1.83% at 5,949.91, and the Nasdaq Composite rose 2.45% to finish at 19,511.23.
Aisa Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 closed higher by 0.32% at 38,594.50, led by gains in the Banking, Services, and Electrical/Machinery sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 surged 1.38%, ending the session at 8,327.00, led by gains in the Financials, A-REITs, and Gold sectors.</li>
<li>India's Nifty 50 closed higher by 0.59% at 23,350.50, and Nifty 500 gained 0.88% closing at 21,740.60,</li>
<li>China&#8217;s Shanghai Composite gained 0.28% and closed at 3,236.03, and the Shenzhen CSI 300 rose 0.11%, finishing the day at 3,800.38.</li>
<li>Hong Kong&#8217;s Hang Seng closed the session higher by 1.23% at 19,522.89.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was up 1.32%.</li>
<li>Germany&#8217;s DAX fell 0.10%.</li>
<li>France&#8217;s CAC rose 1.98%.</li>
<li>U.K.&#8217;s FTSE index 100 traded higher by 0.88%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.01% at $76.68/bbl, and Brent was down 0.11% at $81.94/bbl.</li>
<li>Oil prices steadied after hitting multi-month highs, driven by U.S. sanctions on Russia and a sharp crude stock drop, while OPEC+ maintained caution on supply amid rising global demand.</li>
<li>Natural Gas declined 0.42% to $4.066.</li>
<li>Gold was trading higher by 0.75% at $2,738.31, Silver was up 1.32% to $31.948, and Copper rose 0.90% to $4.4287.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were down 0.01%, S&amp;P 500 futures rose 0.19% and Nasdaq 100 futures gained 0.31%.
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index fell 0.05% to 109.06, USD/JPY declined 0.42% to 155.73, and USD/AUD gained 0.21% to 1.6092.</li>
<li>The U.S. dollar steadied despite falling bond yields after inflation data, as the focus shifted to Trump&#8217;s inauguration and its inflationary implications.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Asia Up, Europe Markets Mixed; Dollar Steadies - Global Markets Today While US Slept

Economic activity expanded slightly to moderately across the Federal Reserve&#8217;s 12 districts during late November and December, yet concerns over looming changes to U.S. immigration and tariff policies cast a shadow on the future, according to the Fed <a href="https://www.benzinga.com/topic/federal-reserve">Beige Book released Wednesday. </a>
The latest Fed Beige Book report highlighted moderate growth in consumer spending, strong holiday sales and rising wages.
According to anecdotal economic insights from businesses and other contacts across the country, several Fed districts showed potential economic headwinds tied to expected policy shifts under President-elect Donald Trump.
<h3 class="wp-block-heading">How Expected Tariffs, Immigration Policies Shape Business Sentiment</h3>
Businesses are increasingly wary of the Trump administration&#8217;s plans to tighten immigration rules and impose steep tariffs. Trump has floated the idea of raising tariffs on Chinese goods to as much as 60% and applying 10% universal tariffs on imports from other nations.
The manufacturing sector appears particularly vulnerable, with contacts reporting efforts to stockpile raw materials in anticipation of higher tariffs.
Additionally, some businesses fear that restrictions on immigration could exacerbate labor shortages, especially in industries like construction and agriculture.
Business leaders across industries within the New York Fed District &#8220;expressed concern that potential import tariffs would push up prices,&#8221; the Beige Book stated.
In the Richmond Fed District, firms from various sectors expressed concerns and uncertainties about tariffs, port worker strikes and overall economic conditions heading into the new year.
<h3 class="wp-block-heading">Wage Growth Picks Up, Inflationary Pressures Remain Modest</h3>
The labor market showed signs of strength, with wage growth accelerating to a moderate pace across most districts. Yet businesses reported growing uncertainty about future staffing needs, especially in light of potential policy changes.
Prices rose modestly overall, with businesses reporting a mix of flat, moderate or even declining selling prices in certain sectors like retail and manufacturing.
Input costs, particularly for health insurance and fuel, continued to climb, and some contacts predicted that higher tariffs would contribute to broader inflation in 2025.
While inflationary pressures remain contained for now, many businesses are bracing for price hikes if the new tariffs go into effect.
The agricultural sector struggled under weak farm incomes and adverse weather conditions. The spread of avian flu further tightened egg supplies, leading to a spike in prices. Energy activity, meanwhile, was mixed, with optimism about 2025 tempered by uncertainty over global demand.
Despite these challenges, the Beige Book revealed cautious optimism for the year ahead. More contacts reported a positive outlook for 2025 than a negative one, reflecting the resilience of the U.S. economy in the face of shifting political landscape.
<h3 class="wp-block-heading">Market Reactions</h3>
Markets showed little reaction to the Fed Beige Book release. The S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), maintained its session gains of 1.8%.
Tech stocks rallied further during early afternoon trading in New York. The Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was 2.3% higher, eyeing its strongest session since Nov. 6, 2024, when tech stocks showed a post-election rally.
The U.S. dollar index was also little moved, with the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) down 0.1% for the day.
Crude oil added gains, with the West Texas Intermediate light crude up by over 3% to $80 a barrel by 2:20 p.m. ET. 
Read now: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/01/43007354/big-banks-crush-q4-earnings-forecasts-financial-stocks-set-for-biggest-1-day-rally-since-trumps-election">Big Banks Crush Q4 Earnings Forecasts: Financial Stocks Set For Biggest 1-Day Rally Since Trump&#8217;s Election</a></li>
</ul>
Photo via Shutterstock.

Fed Beige Book Flags Moderate Growth, Yet Tariffs, Immigration Policies Spark Concerns

Wall Street staged a strong rebound on Wednesday, as mixed inflation data bolstered investor confidence in the Federal Reserve's continuation of easing cycle in 2025, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">easing recent market anxieties.</a>
The headline Consumer Price Index rose 2.9% year-over-year in December, up from November&#8217;s 2.7% and aligning with economist forecasts. On a monthly basis, headline inflation increased by 0.4%, up from November&#8217;s 0.3%, marking the sharpest monthly rise since March 2024.
The inflation report strengthened market expectations for Fed rate cuts in 2025. The probability of a rate cut by June climbed to 63%, up from 55% the previous day, with December futures now pricing in a 50% chance of two rate cuts.
The S&amp;P 500 advanced 1.5% by midday trading in New York, and the Dow Jones followed suit with a similar gain, both supported by strength in financial stocks. The Nasdaq 100 outperformed, rising 1.9%, while small-cap stocks posted a 1.7% gain.
Key financial giants, including JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), and BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), exceeded Wall Street's <a href="https://www.benzinga.com/news/earnings/25/01/43007354/big-banks-crush-q4-earnings-forecasts-financial-stocks-set-for-biggest-1-day-rally-since-trumps-election">fourth-quarter 2024 earnings expectations.</a>
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) surged nearly 2.2%, leading all S&amp;P 500 sectors and recording its strongest one-day gain in over two months.
In the bond market, yields on the 2-year Treasury note, which is highly sensitive to interest rate expectations, fell 9 basis points to 4.28%, while 30-year yields dropped 8 basis points to 4.89%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) gained 1.3% as bond prices rose.
The U.S. Dollar Index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), remained flat, with dollar strength against the euro offset by weakness versus the yen.
West Texas Intermediate — as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) — rallied 2%, hitting $80 a barrel during the day amid a stronger-than-expected drop in commercial crude stocks last week.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped 2.6%, nearing $99,000, buoyed by optimism surrounding potential Fed rate cuts. Meanwhile, gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), gained 0.5%. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,142.06</td>
<td>1.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,257.59</td>
<td>1.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,932.76</td>
<td>1.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,153.53</td>
<td>1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.5% to $590.96.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.5% to $431.31.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.9% to $514.49.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) increased 1.8% to $223.77.</li>
<li>The&nbsp;Financial Select Sector SPDR Fund outperformed, up 1.2%; the&nbsp;Consumer Staples Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Citigroup Inc. rallied over 7%, in reaction to stronger-than-expected earnings, marking the strongest performance within the S&amp;P 500 index.</li>
<li>Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) rose 6.9% after RBC raised its 12-month price target to $641. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares climbed more than 5% after RBC increased its price target for the stock from $313 to $440, while reaffirming its outperform rating.</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43006771/bitcoin-up-to-99000-is-loving-inflation-data-release-xrp-dogecoin-follow-higher">Bitcoin Up To $99,000 &#8216;Is Loving&#8217; Inflation Data Release, XRP, Dogecoin Follow Higher</a></li>
</ul>
Photo: Shutterstock

Large Cap

SPDR Dow Jones Industrial Average ETF Trust

ISRG

TSLA

Wall Street Rallies As Treasury Yields Fall, Banks Smash Q4 Earnings, Oil Hits $80: What's Driving Markets Wednesday?

On Tuesday, January 14th, U.S. markets closed mixed, with the S&amp;P 500 edging higher and the Nasdaq slipping after a volatile session. Investors evaluated inflation data and prepared for quarterly earnings reports. The producer price index rose less than expected, while elevated Treasury yields and uncertainty surrounding Federal Reserve policy fueled caution. Earnings season kicks off Wednesday, led by major banks.
According to economic data, U.S. producer prices increased by 0.2% in December, down from 0.4% in November, and below market expectations of a 0.3% rise.
Most S&amp;P 500 sectors rose, led by utilities, materials, and financials, while communication services and healthcare declined.
The Dow Jones Industrial Average was up 0.52% and closed at 42,518.28, the S&amp;P 500 closed higher by 0.11% at 5,842.91, while the Nasdaq Composite slid 0.23% to finish at 19,044.39.
Big banks are supposed to kick off the fourth-quarter earnings season today.
Aisa Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 closed higher by 0.09% at 38,471.50, led by gains in the Transportation Equipment, Chemical, Petroleum &amp; Plastic and Insurance sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.22%, ending the session at 8,213.30, led by losses in the IT, Telecoms Services, and Industrials sectors.</li>
<li>India&#8217;s Nifty 50 closed higher by 0.23% at 23,228.55, and the Nifty 500 gained 0.36%, closing at 21,558.75, led by gains in the Power, Real Estate, and Technology sectors.</li>
<li>China&#8217;s Shanghai Composite fell 0.43% and closed at 3,227.12, and the Shenzhen CSI 300 slid 0.64%, finishing the day at 3,796.03.</li>
<li>Hong Kong Hang Seng closed the session higher by 0.34% at 19,286.07.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was up 0.36%.</li>
<li>Germany&#8217;s DAX gained 0.67%.</li>
<li>France&#8217;s CAC rose 0.36%.</li>
<li>U.K.&#8217;s FTSE index 100 traded higher by 0.74%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.21% at $76.57/bbl, and Brent was up 0.15% at $80.04/bbl.</li>
<li>Natural Gas gained 0.78% to $3.999.</li>
<li>Gold was trading higher by 1.05% at $2,710.76, Silver was up 1.32% to $30.750, and Copper rose 0.10% to $4.3470.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were up 0.19%, S&amp;P 500 futures rose 0.16% and Nasdaq 100 futures gained 0.21%.
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index fell 0.11% to 109.06, USD/JPY declined 0.72% to 156.80, and USD/AUD slid 0.14% to 1.6119.</li>
<li>Global stocks rose cautiously ahead of U.S. inflation data and bank earnings, while bond yields dipped. December&#8217;s tame producer price data eased pressure on Treasuries.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Dollar Cools Off Ahead Of Bank Earnings, Asia Markets Mixed, Europe Up - Global Markets Today While US Slept

On Monday, January 13th, U.S. markets closed with mixed results. The Nasdaq declined, while the S&amp;P 500 gained slightly after bouncing off a recent low. Elevated Treasury yields, persistent inflation concerns, resilient economic data, and Federal Reserve comments created headwinds, challenging both stock and bond markets.
Economic data showed that U.S. consumer inflation expectations for the next year remained steady at 3% in December, unchanged from the previous month.
Most S&amp;P 500 sectors ended higher, led by energy, materials, and healthcare, while utilities and information technology declined.
The Dow Jones Industrial Average was up 0.83% and closed at 42,297.12, the S&amp;P 500 closed higher by 0.16% at 5,836.22, while the Nasdaq Composite slid 0.38% to finish at 19,088.10.
Asia Markets Today
<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 closed lower by 1.92% at 38,436.50, led by losses in the Retail, Banking, and Automobile and parts sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.48%, ending the session at 8,231.00, led by gains in the Materials, Resources and Metals &amp; Mining sectors.</li>
<li>India&#8217;s Nifty 50 closed higher by 0.55% at 23,212.10, and the Nifty 500 gained 1.29%, closing at 21,518.10. Gains in the power, metals, and public sector undertakings led the index.</li>
<li>China&#8217;s Shanghai Composite surged 2.54% and closed at 3,240.94, and the Shenzhen CSI 300 gained 2.63%, finishing the day at 3,820.54.</li>
<li>Hong Kong Hang Seng closed the session higher by 1.83% at 19,219.78.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was up 1.08%.</li>
<li>Germany&#8217;s DAX gained 0.82%.</li>
<li>France&#8217;s CAC rose 1.17%.</li>
<li>U.K.&#8217;s FTSE index 100 traded higher by 0.21%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.74% at $76.75/bbl, and Brent was down 0.78% at $80.38/bbl.</li>
<li>Natural Gas declined 3.25% to $3.808.</li>
<li>Gold was trading higher by 0.05% at $2,680.96, Silver was up 0.01% to $30.312, and Copper rose 0.15% to $4.3325.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were up 0.38%, S&amp;P 500 futures rose 0.54% and Nasdaq 100 futures gained 0.71%.
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index fell 0.05% to 109.56, USD/JPY rose 0.25% to 157.87, and USD/AUD declined 0.14% to 1.6167.</li>
<li>The dollar eased after the Trump administration reported a gradual tariff approach, though it remains strong following robust jobs data and the Fed&#8217;s cautious rate outlook.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Asia Ex-Japan And Europe Markets Gain, Dollar Cools - Global Markets Today While US Slept

On Friday, January 10th, U.S. markets ended sharply lower, erasing early-year gains. Stronger-than-expected job data reignited inflation fears and reinforced expectations of cautious Fed rate adjustments. Major indexes closed lower, with small-cap stocks entering correction territory. Treasury yields climbed, consumer sentiment weakened, and energy stocks showed modest gains.
According to economic data, nonfarm payrolls jumped to 256,000 in December, well above forecasts, while the unemployment rate dropped to 4.1%. Average hourly earnings grew 0.3% monthly, in line with expectations but slower than November&#8217;s pace, with annual wage growth at 3.9%, just below predictions.
The S&amp;P 500 sectors mostly ended lower, led by declines in real estate, financial, and information technology stocks, while energy stocks stood out, finishing the session with gains.
The Dow Jones Industrial Average was down 1.63% and closed at 41,938.45, the S&amp;P 500 closed lower by 1.54% at 5,827.00, and the Nasdaq Composite slid 1.63% to finish at 19,161.63.
Asia Markets Today
<ul>
<li>Japan markets closed for Respect for the Aged Day holiday.</li>
<li>On Monday, Australia&#8217;s S&amp;P/ASX 200 fell 1.23%, ending the session at 8,191.90, led by losses in the IT, Financials, and Consumer Discretionary sectors.</li>
<li>India&#8217;s Nifty 50 closed lower by 1.38% at 23,431.50, and the Nifty 500 slid 2.55%, closing at 21,243.45. The losses in the Real Estate, Power, and Consumer Durables sectors led to the declines.</li>
<li>China&#8217;s Shanghai Composite was down 0.24% and closed at 3,160.76, and the Shenzhen CSI 300 declined 0.27%, finishing the day at 3,722.51.</li>
<li>Hong Kong&#8217;s Hang Seng closed the session lower by 1.00% at 18,874.14.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was down 0.90%.</li>
<li>Germany&#8217;s DAX declined 0.66%.</li>
<li>France&#8217;s CAC fell 0.74%.</li>
<li>U.K.&#8217;s FTSE index 100 traded lower by 0.25%.</li>
<li>European stocks opened the week lower as global economic concerns and potential Fed rate hikes weighed on sentiment.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 1.40% at $76.83/bbl, and Brent was up 1.48% at $80.95/bbl.</li>
<li>Crude oil prices surged, driven by U.S. sanctions on Russian oil exports. These measures are expected to disrupt supply, tighten global markets, and push India and China to source oil from other regions, supporting higher prices.</li>
<li>Natural Gas gained 4.09% to $4.152.</li>
<li>Gold was trading lower by 0.35% at $2,705.81, Silver was down 1.36% to $30.887, and Copper rose 0.01% to $4.3045.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were down 0.30%, S&amp;P 500 futures fell 0.75% and Nasdaq 100 futures declined 1.17%.
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index was up 0.31% to 109.99, USD/JPY fell 0.28% to 157.32, and USD/AUD gained 0.02% to 1.6268.</li>
<li>The dollar surged to multi-year highs, fueled by strong U.S. jobs data that dampened expectations for Federal Reserve rate cuts.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Asia And Europe Markets Fall, Dollar Hits New High - Global Markets Today While US Slept

The December jobs report jolted financial markets during early Friday trading. Stronger-than-expected employment growth and a drop in the unemployment rate to 4.1% raised fears the Federal Reserve may hold off on cutting interest rates <a href="https://www.benzinga.com/news/econ-s">for most of 2025.</a>
<h3 class="wp-block-heading">December Jobs Report Fuels Fed Hawkishness: Dollar Soars, Yields Jump </h3>
The U.S. economy added 256,000 new jobs last month, marking an acceleration from the downwardly revised 212,000 jobs added in November and sharply outpacing economist forecasts of 160,000, as tracked by TradingEconomics.
The December reading represented the strongest monthly job growth since March 2024, underscoring the continued resilience of the U.S. economy despite high interest rates and resurgent inflationary pressures.
The unemployment rate ticked down from 4.2%to 4.1% in November, defying expectations of no change. Wages rose broadly in line with expectations, with average hourly earnings increasing 0.3% month-over-month, slowing slightly from November&#8217;s 0.4%. On a year-over-year basis, wages climbed 3.9%, marginally below the 4% forecast.
Fed fund futures showed a steep decline in the probability of a March rate cut, with implied odds dropping to just 26%, down from 43% a day earlier, according to CME&#8216;s FedWatch tool.
Treasury yields rose sharply across the curve, reflecting a repricing of interest rate expectations. 
The two-year yield, closely tied to Federal Reserve policy expectations, jumped 11 basis points to 4.37%. The 10-year yield surged 10 basis points to 4.79%, its highest level since November 2023.
Notably, the most striking move came in the 30-year yield, which breached the 5% mark for the first time since October 2023. Before that, the last time 30-year yields surpassed this milestone was in August 2007. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropped 1.2% in premarket trading, highlighting the market's sensitivity to long-term rates.
The U.S. Dollar Index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), surged 0.5% to 109.70, a level last seen in late October 2022. 
The greenback climbed 0.4% against the Japanese yen and 0.6% versus the euro, pushing the euro-dollar pair to a fresh 27-month low of 1.0250. The Sterling wasn&#8217;t spared, falling 0.7% to a 15-month low against the dollar.
<h3 class="wp-block-heading">Stocks Slump Across The Board</h3>
Futures on major U.S. indices were down 1% across the board, as the prospect of higher-for-longer interest rates rattled investors. All S&amp;P 500 sectors, except energy, traded in the negative premarket Friday.
Real estate, tracked by the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>), and technology, represented by the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), both sank 1.4%. 
Rate-sensitive sectors such as real estate and growth-heavy tech bore the brunt of the selloff as higher yields weighed on long-duration assets.
The one standout sector was energy, with the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) climbing 1.3%.
<h3 class="wp-block-heading">Major Premarket Movers</h3>
Among energy giants, Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) gained 1.67% to $152.81, Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) rose 1.57% to $108.61 and ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) advanced 1.43% to $103.07, benefiting from a 3% spike in oil prices after Reuters reported thet U.S. is mulling stronger sanctions on Russia&#8217;s oil sector.
In contrast, rate-sensitive mega-cap tech stocks dragged the market lower. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell 2.51% to $136.59, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) dropped 2.92% to $118.28 and American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) plunged 3.93% to $68.63, leading losses among financials.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/25/01/42901085/us-2025-recession-odds-plummet-good-news-or-warning-sign">US 2025 Recession Odds Plummet: Good News Or Warning Sign?</a></li>
</ul>
Photo via Shutterstock.

Sector ETFs

NVDA

XLRE

Dollar Soars To 27-Month Highs, 30-Year Yields Hit 5%, Stocks Tumble As Jobs Report, Oil Spike Darken Fed's Interest Rate Cut Hopes

The labor market ended 2024 on a strong note, adding 256,000 jobs in December, exceeding economist forecasts and showcasing once again the resilience <a href="https://www.benzinga.com/news/econ-s">of the U.S. economy. </a>
Nonfarm payrolls rose by 256,000 last month, up from the downwardly revised 212,000 in November and sharply surpassing economist expectations of 160,000 payrolls as tracked by TradingEconomics.
<h3 class="wp-block-heading">US Labor Market Defies Gravity, Unemployment Rate Falls</h3>
The December payroll figure released Friday by the Bureau of Labor Statistics surprised to the upside for the second consecutive month, signaling the U.S. labor market&#8217;s strength continues to defy gravity. The outcome marks the strongest employment growth since March 2024.
The unemployment rate fell from 4.2% to 4.1%, beating forecasts of an unchanged reading.
Average hourly earnings rose 0.3% month-over-month in December, matching expectations but slowing from November&#8217;s 0.4%. On a year-over-year basis, wages increased 3.9%, slightly below of the 4% forecast. 
<h3 class="wp-block-heading">Key Sectors Driving Employment Gains</h3>
Employment growth in December was led by gains in health care, retail trade and government, while leisure and hospitality showed minimal change.
Health care added 46,000 jobs, continuing its consistent upward trajectory, while retail trade recovered from a loss of 29,000 jobs in November, posting a gain of 43,000 jobs in December. 
Government employment was also robust, adding 33,000 positions last month. Social assistance contributed an additional 23,000 jobs, reflecting steady demand in support services.
Employment in leisure and hospitality showed little movement, with a modest increase of 43,000 jobs.
<h3 class="wp-block-heading">Market Reactions</h3>
The stronger-than-expected jobs report complicates the Federal Reserve&#8217;s path forward. 
While the labor market&#8217;s resilience signals robust economic growth for the fourth quarter, it forces policymakers to remain laser-focused on their inflation mandate, as recent price pressures have resurfaced, likely supporting a hawkish stance in the months ahead.
Yields on two-year Treasury bonds — which are highly susceptible to interest rate expectations — spiked by 11 basis points to 4.38%, reflecting fears that the Fed might push monetary easing further down the road in 2025.
The U.S. Dollar Index (DXY), which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rallied by 0.3% in the minutes after the release. 
Markets reacted with caution. Futures tied to the S&amp;P 500 showed a 0.6% loss in Friday&#8217;s premarket trading. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/01/42908495/us-stocks-to-open-on-a-tentative-note-as-traders-remain-cautious-ahead-of-fridays-crucial-jobs-data">US Stocks To Open On A Tentative Note As Traders Remain Cautious Ahead Of Friday&#8217;s Crucial Jobs Data</a></li>
</ul>
Photo via Shutterstock.

US Economy Adds 256,000 Payrolls In December, Tight Labor Market Tops Forecasts: Dollar, Treasury Yields Spike

On Thursday, January 9th, U.S. markets were closed in a mark of respect for the late former President Jimmy Carter.
U.S. Futures at 06:00 AM ET
<ul>
<li>Dow futures were down 0.10%, S&amp;P 500 futures fell 0.21% and Nasdaq 100 futures declined 0.23%.</li>
<li>U.S. stock futures dipped, weighed by Fed hawkishness, labor market strength, and inflation concerns. Markets await December payrolls for rate cues. Earnings season and rising oil prices add focus.</li>
</ul>
Asia Markets Today
<ul>
<li>On Friday, Japan&#8217;s Nikkei 225 closed lower by 1.04% at 39,208.50, led by losses in the Shipbuilding, Power, and Insurance sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.42%, ending the session at 8,294.10, led by losses in the Financials, Consumer Staples, and Healthcare sectors.</li>
<li>India&#8217;s Nifty 50 closed lower by 0.38% at 23,437.35, and the Nifty 500 slid 1.11%, closing at 21,801.10. The losses were caused by the Power, Real Estate, and Public Sector Undertakings sectors.</li>
<li>China&#8217;s Shanghai Composite was down 1.33% and closed at 3,168.52, while the Shenzhen CSI 300 declined 1.25% and finished the day at 3,732.48.</li>
<li>Hong Kong&#8217;s Hang Seng closed the session lower by 0.92% at 19,064.29.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was up 0.09%.</li>
<li>Germany&#8217;s DAX gained 0.20%.</li>
<li>France&#8217;s CAC rose 0.21%.</li>
<li>U.K.&#8217;s FTSE index 100 traded lower by 0.25%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 2.25% at $75.81/bbl, and Brent was up 2.46% at $78.83/bbl.</li>
<li>Oil prices rose for a third consecutive week amid supply concerns from sanctions on Russia and Iran, cold weather boosting fuel demand, and inflation worries despite a stronger U.S. dollar.</li>
<li>Natural Gas gained 4.16% to $3.852.</li>
<li>Gold was trading higher by 0.63% at $2,709.21, Silver was up 0.61% to $31.230, and Copper rose 0.69% to $4.3395.</li>
</ul>
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index was down 0.01% to 109.17, USD/JPY rose 0.01% to 158.08, and USD/AUD gained 0.12% to 1.6159.</li>
<li>The U.S. dollar is on track for a sixth consecutive weekly gain, driven by elevated Treasury yields, inflation concerns, and expectations of strong nonfarm payrolls, signaling potential sustained higher rates.</li>
</ul>
Photo via Shutterstock

Dollar Heads For 6th Weekly Gain; Asia Markets Decline, Europe Mixed - Global Markets Today While Us Slept

On Wednesday, January 8th, U.S. markets ended mixed as investors considered conflicting jobs data and reports of President-elect Trump possibly declaring an economic emergency on inflation. Federal Reserve minutes pointed to inflation concerns, while worries over tariffs and policy changes kept markets cautious.
In economic data, U.S. jobless claims fell below estimates, with initial claims at 201K and continuing claims at 1,867K. December&#8217;s ADP employment change missed forecasts at 122K, while November wholesale inventories matched expectations at -0.2%.
Most S&amp;P 500 sectors ended the day with gains, with the healthcare index leading the advances.
The Dow Jones Industrial Average was up 0.25% and closed at 42,635.20, the S&amp;P 500 closed higher by 0.16% at 5,918.30, while the Nasdaq Composite slid 0.06% to finish at 19,478.88.
Asia Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 closed lower by 0.87% at 39,621.50, led by losses in the Insurance, Financial Services and Mining sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.24%, ending the session at 8,329.20, led by losses in the Industrials, Consumer Staples, and IT sectors.</li>
<li>India&#8217;s Nifty 50 closed lower by 0.59% at 23,674.75, and the Nifty 500 slid 0.78%, closing at 22,058.75. Real Estate, Oil and gas, and Power sectors led the losses.</li>
<li>China&#8217;s Shanghai Composite was down 0.58% and closed at 3,211.39, while the Shenzhen CSI 300 declined 0.25% and finished the day at 3,779.88.</li>
<li>Hong Kong&#8217;s Hang Seng closed the session lower by 0.20% at 19,240.89.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was up 0.07%.</li>
<li>Germany&#8217;s DAX declined 0.07%.</li>
<li>France&#8217;s CAC rose 0.25%.</li>
<li>U.K.&#8217;s FTSE index 100 traded higher by 0.63%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.22% at $73.46/bbl, and Brent was up 0.26% at $76.36/bbl.</li>
<li>Natural Gas declined 1.48% to $3.597.</li>
<li>Gold was trading higher by 0.43% at $2,683.74, Silver was up 0.79% to $30.930, and Copper rose 1.31% to $4.3145.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were up 0.01%, S&amp;P 500 futures fell 0.08% and Nasdaq 100 futures declined 0.15%.
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index was up 0.17% to 109.19, USD/JPY slid 0.21% to 158.00, and USD/AUD gained 0.30% to 1.6136.</li>
<li>The U.S. dollar strengthened, driven by rising Treasury yields and tariff concerns tied to President-elect Trump&#8217;s policies, pressuring global currencies like the yen, euro, and pound, which hit multi-month lows.</li>
</ul>
Photo by Steve Heap via Shutterstock

Asia Markets Slide, Europe Mixed; Dollar Strengthens - Global Markets Today While Us Slept

The start of 2025 has brought a sharp uptick in equity drawdown risks, with Goldman Sachs estimating a near 30% probability of market corrections, fueled by surging policy uncertainty <a href="https://www.benzinga.com/topic/inflation">and shifting inflation dynamics.</a>
In a note published Wednesday, analysts Andrea Ferrario and Christian Mueller-Glissmann highlighted heightened risks stemming from rising inflation pressures, trade tensions and political uncertainty ahead of Donald Trump's second presidential term, set to start on Jan. 20, 2025.
The analysts indicated that these factors could lead to deeper market volatility and weaker forward returns for equities.
<h1 class="wp-block-heading">What Is Driving The Increased Risk?</h1>
Goldman's framework shows the probability of an equity drawdown has jumped to nearly 30%, a significant rise from levels seen in 2024. Historically, when drawdown risk crosses this threshold, markets have experienced lower returns and, in some cases, severe corrections. 
Goldman indicates that extreme outcomes are more likely if the probability exceeds 35%.
One of the primary drivers of this heightened risk is the resurgence of inflation, which has shifted from negative to positive. This trend is particularly concerning for investors, as inflation could erode profit margins and limit central bank interventions in the event of market turmoil.
Policy uncertainty has also climbed sharply. &#8220;Global trade and the risk of U.S. tariffs have been at the epicenter of this surge in uncertainty, with measures of trade policy uncertainty spiking above their 2018-2019 highs,&#8221; the analysts wrote.
Although the macroeconomic environment remains broadly supportive of equities, Goldman cautioned that market sentiment could deteriorate rapidly under adverse scenarios. 
A combination of geopolitical risks, inflation surprises and corporate earnings misses could create a perfect storm for investors, leading to sharper corrections.
<h1 class="wp-block-heading">Hedging Strategies For Uncertain Times</h1>
Goldman recommended hedging strategies to protect portfolios in this uncertain environment.
 &#8220;We like shorter-dated S&amp;P 500 put spreads to hedge near-term correction risk due to negative growth surprises, policy uncertainty into the U.S. presidential inauguration, or misses in the January earnings season,&#8221; the note said.
For investors worried about more severe economic downturns, longer-dated S&amp;P 500 puts may offer better protection. &#8220;After the recent hawkish repricing, longer-dated S&amp;P 500 puts would likely also benefit from falling front-end rates in the event of severe growth shocks,&#8221; the analysts added.
The note also highlighted hybrid instruments, which combine equity and currency exposures, as tools to hedge against rising rates and trade-related risks. 
Goldman specifically recommended &#8220;S&amp;P 500 down/EURUSD down hybrids&#8221; and &#8220;S&amp;P 500 down/US 10y up double digitals&#8221; as effective hedges. 
The former derivative is ideal for scenarios where both the equity market and the euro decline simultaneously, potentially in reaction to tariffs policies, while the latter works well in environments where equity markets are under pressure and bond yields rise as a result of inflation concerns or expectations of higher interest rates.
Since Trump&#8217;s election victory in November, the U.S. dollar index — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — has risen by over 5%. During the same period, blue-chip stocks, tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) have shown a flat performance.
Yields on 30-year Treasury bonds are hovering near 4.95%, climbing over 100 basis points since mid-September 2024.
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<li><a href="https://www.benzinga.com/news/econ-s/25/01/42884303/fed-minutes-reveal-inflation-jitters-policymakers-signal-slower-interest-rate-easing-path-ahead">Fed Minutes Reveal Inflation Jitters, Policymakers Signal Slower Interest Rate Easing Path Ahead</a></li>
</ul>
Photo: Shutterstock

Goldman Sachs Flags Market Correction Risk As Inflation, Trump Policies Stir Uncertainty

Unease about inflation's persistence and potential policy shifts under a new White House administration dominated the Federal Reserve's December meeting, leaving policymakers divided on the pace <a href="https://www.benzinga.com/topic/interest-rates">of future rate adjustments.</a>
Minutes from the Dec. 18 Federal Reserve meeting that were released Wednesday paint a cautious picture of the central bank's outlook on inflation and interest rates.
The Fed cut rates by 25 basis points at the meeting, bringing the federal funds rate to 4.25%-4.5%, and emphasized the path ahead would require a delicate balance between curbing inflation and supporting economic growth.
&#8220;Participants indicated that the Committee was at or near the point at which it would be appropriate to slow the pace of policy easing,&#8221; according to the Fed&#8217;s December minutes. 
The minutes also highlight rising uncertainty about inflation and the broader economy, particularly as fiscal and trade policies face potential shifts under the incoming Donald Trump administration.
<h3 class="wp-block-heading">Why Is Inflation Anxiety Rising Again?</h3>
While inflation has shown signs of moderating, "recent higher-than-expected readings on inflation" suggest it could take longer to return to the 2% target, the minutes say.
Cleveland Fed President Beth Hammack was the sole dissenting vote against an interest rate cut in December, favoring an unchanged rate target of 4.5%-4.75%.
Hammack indicated "uneven progress" toward the Fed's inflation target, alongside robust labor market and economic conditions, as key reasons not to cut interest rates further.
The prospect of significant policy shifts under Trump has left Fed officials navigating uncharted waters. Key campaign promises, such as reworking trade agreements, imposing tariffs and enacting tax reform, could have sweeping impacts on the U.S. economy, particularly on inflation.
"A number of participants indicated they had incorporated placeholder assumptions regarding potential trade and immigration policy changes into their projections," the minutes state, highlighting the Fed's uncertainty about the fiscal environment ahead.
"The effects of potential changes in trade and immigration policy suggested that the process [of reaching the 2% inflation target] could take longer than previously anticipated," the minutes say.
<h3 class="wp-block-heading">Inflation, Economic Projections Adjusted</h3>
The Fed updated its economic projections at the December meeting, and they showed a slower pace of cuts through 2025.
The central bank now projects two 25-basis-point rate reductions next year, down from the four forecasted in September. By the end of 2025, the federal funds rate is expected to hover around 3.9%, with a further decline to 3.4% in 2026.
Notably, the Fed raised its inflation forecasts. Headline Personal Consumption Expenditure inflation for 2025 is now expected to reach 2.5% compared to a prior estimate of 2.1%. Core PCE inflation, which excludes volatile food and energy prices, is projected at 2.5%, up from 2.2%.
Market Reactions
Markets showed muted responses to the Fed minutes, suggesting the hawkish tone from the December meeting had already been priced in by investors.
The U.S. dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – held steady at the 109 level, maintaining its 0.4% intraday gain.
Equities experienced a modest relief rally, with the S&amp;P 500, tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), reversing earlier losses to trade marginally higher for the session.
Treasury yields were largely unchanged. The 10-year yield hovered at 4.69%, while the 30-year yield remained stable at 4.93%, signaling little movement in bond markets.
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Photo created using artificial intelligence via Midjourney.

Fed Minutes Reveal Inflation Jitters, Policymakers Signal Slower Interest Rate Easing Path Ahead

The U.S. dollar extended its rally to a 14-month high and Treasury yields continued their relentless rise on Wednesday as speculation grew that President-elect Donald Trump is considering invoking sweeping emergency powers to implement new tariffs, fueling fears of <a href="https://www.benzinga.com/topic/donald-trump">inflation and policy uncertainty.</a>
According to an exclusive CNN <a href="https://edition.cnn.com/2025/01/08/economy/trump-national-economic-emergency-tariffs/index.html">report </a>on Wednesday, sources familiar with the matter said Trump is mulling the use of the International Economic Emergency Powers Act to declare a national economic emergency.
This move could enable him to impose significant tariffs on imports without requiring congressional approval or the need to justify the tariffs on national security grounds.
Yet, sources told CNN that no final decision has been made regarding the declaration of a national emergency.
<h3 class="wp-block-heading">Dollar's Remarkable Rally, 30-Year Yields Near 5% Danger Zone</h3>
A measure of the greenback strength, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed to the highest levels since November 2023, up for the sixth consecutive week. 
The euro fell 0.4% to $1.03 and the British pound slumped 1.2% to $1.2340, with the latter hitting its weakest level since April 2024.
The dollar has now rallied in 14 of the last 15 weeks as investors expect Trump&#8217;s tariffs to damage other currencies.
&#8220;Perhaps more than even during his last term of office, traders will need to pay close attention to everything coming from the new president,&#8221; said David Morrison, senior market analyst at Trade Nation.
Meanwhile, the 30-year Treasury yield surged to 4.95%, inching closer to the critical 5% mark. Yields on longer-dated bonds, highly sensitive to inflation expectations, signal renewed fears of rising costs fueled by Trump's tariff threats and their potential disruption of global supply chains.
&#8220;The incoming Trump administration&#8217;s policies can lead to increased market volatility,&#8221; wrote Bank of America Securities on Tuesday. 
The iShares 20+Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) – the world&#8217;s largest Treasury-linked exchange traded fund – has fallen by more than 7% since Trump&#8217;s election victory in November.
The last time 30-year Treasury yields crossed the 5% threshold was in October 2023, a level previously unseen since July 2007.
&#8220;Trump's proposed immigration and tariff policies will boost U.S. inflation temporarily, limiting the Fed's ability to cut interest rates,&#8221; said Capital Economics in a recent report.
&#8220;The probability of an equity drawdown has increased to almost 30%,&#8221; Goldman Sachs&#8217; analyst wrote in a report on Wednesday. Analysts Andrea Ferrario and Christian Mueller-Glissman highlighted that &#8220;most of the increase in drawdown probability has been driven by inflation momentum turning from negative to positive.&#8221;
<h3 class="wp-block-heading">Chart: 30-Year Treasury Yields Head Toward 5% Threshold</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="541" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08093712/image-47-1024x541.png" alt="" class="wp-image-724153" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08093712/image-47-1024x541.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08093712/image-47-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08093712/image-47-768x406.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08093712/image-47-1536x812.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08093712/image-47.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">What's Behind Trump's Plan?</h3>
During a press conference on Tuesday at Mar-a-Lago, Trump called for aggressive measures to rebalance trade and geopolitical relationships with key partners, targeting Canada, Mexico, Europe and China. 
His comments included sharp criticisms of trade deficits, defense spending disparities, and alleged unfair practices.
On Canada, Trump said, &#8220;Why are we supporting a country with a $200 billion-plus deficit? Our military is at their disposal, and we give them so many subsidies.&#8221; 
He floated the provocative idea of Canada becoming the 51st U.S. state if economic <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">relations didn't improve.</a>
With Mexico, Trump reiterated his long-standing frustrations, stating, &#8220;We are going to put very serious tariffs on Mexico… drugs are coming through at record numbers.&#8221; He accused the Mexican government of failing to control cartels and migration flows into the U.S.
On European countries, Trump reiterated the call for increased defense expenditure, emphasizing that NATO members delinquent on meeting the 2% of GDP target would not receive U.S. military protection. He described the current benchmark as insufficient, saying, "It should be 5%, not 2%."
Trump also floated the idea of acquiring Greenland, cautioning Denmark about the possibility of imposing tariffs.
As for China, Trump expressed concern about the country&#8217;s influence in strategic areas like the Panama Canal and the Arctic. 
&#8220;China is at both ends of the Panama Canal. They're running it,&#8221; he said, calling for renewed U.S. focus on containing Beijing&#8217;s geopolitical ambitions.
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</ul>
Photo: Shutterstock

Specialty ETFs

Dollar Hits 14-Month High, 30-Year Yields Near Critical Threshold As Trump Reportedly Mulls Economic Emergency Tariffs

Private employers added 122,000 new jobs in December, marking a slowdown from November's 146,000 and falling short of expectations. With hiring contracting in key industries like manufacturing, the labor market appears to be losing <a href="https://www.benzinga.com/topic/labor-market">steam heading into 2025.</a>
In a report published Wednesday, Automatic Data Processing Inc. highlighted the results of its National Employment Report, which comes ahead of Friday's crucial non-farm payroll data from the government. 
&#8220;Hiring slowed in several industries. Employment in manufacturing shrank for the third straight month,&#8221; according to the December ADP National Employment Report.
Nela Richardson, ADP's chief economist, said: "The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains. Health care stood out in the second half of the year, creating more jobs than any other sector."
The ADP National Employment Report sets the stage for the jobs report from the Bureau of Labor Statistics on Friday, where economists forecast a significant reduction in the pace of employment growth from November's 227,000 to 154,000.
In a separate release, initial jobless claims fell to 201,000 for the week ending Jan. 4, down from 211,000 the previous week and below the forecast of 218,000. This marks the fourth consecutive decline in weekly jobless claims, suggesting that while hiring has slowed, companies are still holding on to workers.
Continuing claims edged higher, rising from 1.844 million to 1.867 million, though coming in just under expectations of 1.87 million.
<h3 class="wp-block-heading">December Highlights: Where Did Jobs Grow?</h3>
In December, the U.S. labor market showed mixed results, with gains concentrated in service-providing industries, while goods-producing sectors struggled.
Goods-producing industries added 10,000 jobs in December, led by construction, which gained 27,000 payrolls.
Manufacturing shed 11,000 jobs, marking its third consecutive month of declines.
Service-providing industries added 112,000 jobs, down from November's 140,000. The strongest gains came from education and health services, which added 56,000 payrolls, while leisure and hospitality contributed 22,000. Trade, transportation and utilities — a barometer of consumer demand — grew by 8,000 jobs.
Overall, private employment grew by 122,000 in December, missing economist expectations of 140,000, as tracked by TradingEconomics.
The ADP report showed continued cooling in wage growth. Salary increases for job stayers eased to 4.6% year-over-year in December, down from 4.8% the previous month. For job changers, pay gains edged lower to 7.1%, compared to 7.2% in November.
The deceleration in wage growth is likely to provide some relief to the Federal Reserve, which has been closely monitoring labor market conditions as part of its fight against inflation.
<h3 class="wp-block-heading">Market Reactions</h3>
Markets showed a measured response to the ADP report, with investors keeping an eye on minutes expected Wednesday afternoon from the latest Federal Reserve meeting and geopolitical developments.
The U.S. dollar initially gained ground on Wednesday, fueled by renewed comments from President-elect Donald Trump on potential tariffs. Yet the greenback eased slightly after the ADP report, with the U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), up by 0.4%, trimming heavier early morning gains.
In bond markets, yields on longer-dated Treasuries softened after the data release but remained elevated. The 10-year yield rose 2 basis points to 4.7%, near its highest levels since November.
Equity markets were mixed during premarket trading in New York. Futures for the S&amp;P 500 edged up 0.1%, while Nasdaq 100 futures climbed 0.2%. Futures tied to the Dow Jones dipped 0.2%. On Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1.1%.
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Photo via Shutterstock.

US Private Businesses Add 122,000 Jobs In December: 'Slowdown In Both Hiring And Pay Gains'

On Tuesday, January 7th, U.S. markets closed lower as strong economic data fueled fears of prolonged inflation, delaying Federal Reserve rate cuts. Rising job openings and services activity drove benchmark 10-year Treasury yields to 4.699%, the highest since April. Markets now expect the Fed to hold rates through 2025.
Economic data showed that the U.S. trade deficit widened to $78.2 billion in November, up from a revised $73.6 billion in October and aligning with market expectations. Imports grew by 3.4% to $351.6 billion, while exports increased by 2.7% to $273.4 billion.
Most S&amp;P 500 sectors fell, led by losses in consumer discretionary, communication services, and tech stocks, while energy and health care gained.
The Dow Jones Industrial Average was down 0.42% and closed at 42,528.36, the S&amp;P 500 closed lower by 1.11% at 5,909.00, while the Nasdaq Composite fell 1.89% to finish at 19,489.68.
Asia Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 closed lower by 0.27% at 39,970.50, led by losses in the Power, Transportation Equipment, and Warehousing sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.77%, ending the session at 8,349.10, led by gains in the Gold, Metals &amp; Mining and Materials sectors.</li>
<li>India&#8217;s Nifty 50 closed lower by 0.14% at 23,674.75, and Nifty 500 slid 0.56%, closing at 22,216.45, led by losses in the Consumer Durables, Capital Goods and Power sectors.</li>
<li>China&#8217;s Shanghai Composite was up 0.02% and closed at 3,230.17, while the Shenzhen CSI 300 declined 0.18% and finished the day at 3,789.22.</li>
<li>Hong Kong&#8217;s Hang Seng closed the session lower by 0.86% at 19,279.84.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 was up 0.32%.</li>
<li>Germany&#8217;s DAX gained 0.49%.</li>
<li>France&#8217;s CAC rose 0.05%.</li>
<li>U.K.&#8217;s FTSE 100 Index traded higher at 0.23%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.71% at $74.78/bbl, and Brent was up 0.40% at $77.35/bbl.</li>
<li>Oil prices rose as tighter supplies from Russia and OPEC, falling U.S. crude stocks and strong economic data boosted the demand outlook.</li>
<li>Natural Gas gained 4.81% to $3.616.</li>
<li>Gold was trading higher by 0.11% at $2,668.94, Silver was up 0.51% to $30.843, and Copper rose 0.27% to $4.2073.</li>
</ul>
U.S. Futures at 05:30 AM ET
Dow futures were up 0.27%, S&amp;P 500 futures gained 0.30%, and Nasdaq 100 futures rose 0.32%.
Forex at 05:30 AM ET
<ul>
<li>The U.S. dollar index rose 0.24% to 108.95, the USD/JPY rose 0.18% to 158.33, and the USD/AUD gained 0.32% to 1.6101.</li>
<li>The dollar strengthened, driven by strong U.S. economic data, rising bond yields, and diminished expectations of Fed rate cuts.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Natural Gas Jumps 4%, Oil Hits $75; Europe Markets Advance - Global Markets Today While Us Slept

A stronger-than-expected December Purchasing Managers&#8217; Index reading highlights resilience in the U.S. services sector, but rising price pressures and looming tariff concerns are casting shadows over an <a href="https://www.benzinga.com/news/econ-s">otherwise optimistic economic picture.</a>
In a report released Tuesday, the Institute for Supply Management revealed that the Services PMI rose to 54.1% in December 2024, beating economist forecasts of 53.3% and marking a robust two-point gain from November&#8217;s 52.1%.
The data underscores the sector's ongoing expansion, now at six consecutive months, with December's reading representing the third-highest level of the year.
Steve Miller, chair of the ISM Services Business Survey Committee, said, "Nine industries reported growth in December, five fewer than the previous month's total. The Services PMI has expanded in 22 of the last 24 months dating back to January 2023."
<h3 class="wp-block-heading">What's Driving US Services Sector Growth?</h3>
The uptick in the Services PMI was primarily fueled by business activity and supplier deliveries. ISM&#8217;s Business Activity Index climbed to 58.2 in December from 53.7 in November, signaling heightened end-of-year activity. 
New orders also rose, with the corresponding index climbing to 54.2 from 53.7. 
Yet, employment growth was flat, with the Employment Index holding steady at 51.4—indicating modest hiring across the sector.
<h3 class="wp-block-heading">Price Pressures Resume, Tariff Worries Loom Large</h3>
Despite the optimism, a sharp rise in the Prices Index has raised concerns about inflationary pressures within the services sector. 
The index jumped to 64.4 in December from 58.2 in November, far exceeding consensus expectations of 57.5. Panelists cited input cost inflation, labor constraints, and tariff-related uncertainties as key drivers of price increases.
One of the more striking themes in the latest ISM survey was the emergence of tariff concerns as a key risk for businesses heading into 2025. 
While specifics remain uncertain, companies are preparing for potential trade policy changes as the Trump administration is set to impose new tariffs within weeks. 
Miller highlighted that "tariff concerns elicited the most panelist comments," suggesting businesses are bracing for possible supply chain disruptions or cost escalations.
<h3 class="wp-block-heading">Labor Market Data Remains Strong</h3>
The Bureau of Labor Statistics released its Job Openings and Labor Turnover Survey data for November on Tuesday.
Job openings rose by 259,000 to 8.1 million, exceeding market expectations of 7.7 million. Vacancies were up for professional and business services by 273,000, finance and insurance by 105,000, and private educational services by 38,000. 
The number of job quits declined to 3.07 million, the lowest since August 2020. The data suggests that while businesses are actively hiring, worker sentiment remains cautious amid rising economic uncertainties.
<h3 class="wp-block-heading">Market Reaction: Dollar Rallies, Bond Yields Surge</h3>
Financial markets reacted swiftly to the mixed economic data. 
The U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed 0.3% by mid-morning trading Tuesday, partially recovering from Monday's losses.
Bond markets saw sharp moves, with yields on longer-dated Treasurys rising by 6-7 basis points. The 30-year Treasury yield hit 4.90%, its highest level since early November 2023, sending the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down by 1%.
Rising yields fueled concerns in equity markets. The CBOE Volatility Index (VIX) jumped 7%, reflecting heightened investor anxiety over rising inflation and bond yields. 
All major indices slipped into negative territory, with the S&amp;P 500 down 0.4% and the tech-heavy Nasdaq 100 falling 1%.
Within individual major stocks, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) dropped over 3%, while Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) slid nearly 4% following a downgrade to Neutral by Bank of America.
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Photo: Shutterstock

Tech

US Services Sector Growth Tops Forecasts, But 'Tariff Concerns,' Price Pressures Cast A Shadow

On Monday, January 6th, U.S. markets closed mixed; the S&amp;P 500 and Nasdaq Composite climbed to over a week&#8217;s high, driven by semiconductor gains and optimism about a softer tariff approach under the Trump administration. The Dow edged lower while tech stocks rallied sharply. Investors monitored Federal Reserve cues and Trump&#8217;s potential economic impact.
According to economic data, in November, U.S. durable goods and factory orders fell by 0.4%, slightly below estimates and prior gains. December&#8217;s S&amp;P Global Services PMI dropped to 56.8, below forecasts, while the Composite PMI softened to 55.4, though both remained above their previous readings.
While seven out of the eleven S&amp;P 500 sectors declined, communication services and technology stocks rose significantly.
The Dow Jones Industrial Average was down 0.06% and closed at 42,706.56, the S&amp;P 500 closed higher by 0.55% at 5,975.40, while the Nasdaq Composite rose 1.24% to finish at 19,864.98.
Asia Markets Today
<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 closed higher by 2.14% at 40,077.00, led by gains in the Mining, Power, and Chemical, Petroleum, and plastic sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.34%, ending the session at 8,285.10, led by gains in the IT, Telecoms Services, and Consumer Discretionary sectors.</li>
<li>India&#8217;s Nifty 50 closed higher by 0.32% at 23,691.40, and the Nifty 500 rose 0.46%, closing at 22,327.80. Gains in the Oil and gas, Capital Goods, and Metals sectors led the index.</li>
<li>China&#8217;s Shanghai Composite was up 0.71% and closed at 3,229.64, and the Shenzhen CSI 300 gained 0.72%, finishing the day at 3,796.11.</li>
<li>Hong Kong&#8217;s Hang Seng closed the session lower by 1.22% at 19,447.58.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 was up 0.47%.</li>
<li>Germany&#8217;s DAX gained 0.32%.</li>
<li>France&#8217;s CAC rose 0.54%.</li>
<li>U.K.&#8217;s FTSE 100 traded lower by 0.22%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.38% at $73.84/bbl, and Brent was up 0.59% at $76.75/bbl.</li>
<li>Oil prices dipped as optimism over demand waned amid weak global economic data, though tighter Russian and Iranian supply and increased heating oil demand due to cold weather limited further losses.</li>
<li>Natural Gas declined 4.30% to $3.514.</li>
<li>Gold was trading higher by 0.30% at $2,655.51, Silver was up 0.74% to $30.810, and Copper rose 0.84% to $4.1960.</li>
</ul>
U.S. Futures at 05:30 AM ET
Dow futures were up 0.08%, S&amp;P 500 futures gained 0.10%, and Nasdaq 100 futures rose 0.09%.
Forex at 05:30 AM ET
<ul>
<li>The U.S. Dollar Index was down 0.24% to 109.98, USD/JPY rose 0.10% to 157.75, and USD/AUD slid 0.59% to 1.5914.</li>
<li>The U.S. dollar eased toward a one-week low as traders speculated on a softer tariff stance from President-elect Trump, despite his denial of recent report.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

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The price of gold dropped late in the North American trading session, but it finished the week with gains of around 0.40% as market players must now await the inauguration of US President-elect Donald Trump.

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GBP fell in value compared with USD in the past week, and we're anticipating a bearish month.

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Gold has been grinding sideways for the better part of several months now, weighing on sentiment.  Late October's mounting bullishness is long-gone, deteriorating to apathy. 

Gold Defied Spent Dollar

Equity bulls had a huge week, rallying the S&P 500 index 2.9 percent to 5997, but more work lies ahead as the large cap index closed on dual trendline resistance.

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The Market Always Wins

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2020年6月以来、消費者物価指数（CPI）報告が<a href="https://www.benzinga.com/topic/fomc">連邦公開市場委員会（FOMC）の会合</a>と同日に発表されるのは初めてのことだ。
このことは、金融市場にとって潜在的にボラティルな水曜日を予示している。
2024年第1四半期の3ヶ月間にわたり期待を上回るインフレ率の読書が続いたが、4月のデータは物価<a href="https://www.benzinga.com/markets/equities/24/05/38842603/us-inflation-falls-as-expected-in-april-bolsters-fed-rate-cut-bets">プレッシャーが緩和され、予測に合致した。</a>
このためCPIデータは、インフレ率が続く低下傾向を示しているのかどうかを確認する上で極めて重要だ。これがあれば、連邦準備制度理事会の2％の物価目標を達成する希望を支えることになる。
このため、水曜日午前8時30分に労働統計局から発表される5月のインフレ報告書の重要性が増している。
5月のインフレ報告書の結果は、同日のプレスカンファレンス中に行われるジェローム・パウエル（Jerome Powell）議長の声明にも大きな影響を与えるだろう。
柔らかいインフレ率の読書は、今年の後半に利上げが行われる可能性を補強する一方、予想を上回るインフレ率はより積極的なアプローチを必要とし、おそらく長期間金利を高めに維持する必要があることを繰り返す可能性がある。
市場参加者は現在、9月の利上げの可能性を50-50で見積もっており、年末までに完全に価格が大きく下落することを期待していない。
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead">Fed Meeting Preview: Economists Predict Steady Rates In June, Fewer Cuts Ahead</a>
<h3 class="wp-block-heading">5月のインフレ報告書のプレビュー：経済学者の予想</h3>
<ul>
<li>Econodayが収集した経済学者の予想によると、全体の見出しの年間インフレ率は3.4％で横ばいになると予想されている。</li>
<li>総合的なCPIは、4月の0.3％の上昇から0.1％上昇すると予想されている。</li>
<li>食品およびエネルギー価格の変動を除いた年間のインフレ率は、0.3％の月次の上昇と、4月から変わらない3.6％で推移すると予想されている。</li>
</ul>
ゴールドマンサックスのエコノミスト マヌエル・アベカシス氏は、コンシューマーエレクトロニクスやパーソナルケアなどの分野でのインフレ率の低下が報告されると予想しており、5月のデータに反映されるという見方だ。彼はまた、自動車保険料の持続的な上昇も予測しているが、ペースは徐々に遅くなり、家賃やオーナーの同等の家賃（OER）のインフレ率は横ばいで推移すると予想している。
アベカシス氏は、「今後、2024年の終わりまでの数ヶ月間、月次コアCPIインフレ率は0.2〜0.3％の範囲内に留まると予想している。 2024年12月の年間コアCPIインフレ率は3.5％、コアPCEインフレ率は2.8％と予測している」と述べた。
著名なベテラン市場アナリストのエド・ヤーデニ氏は、5月のCPI報告書が依然としてインフレが抑制されていることを確認すると見ている。
「クリーブランド連銀のインフレ・ナウキャスティング・モデルによると、5月のヘッドラインおよびコアCPIは、前年比でそれぞれ3.36％および3.55％上昇し、これは2021年4月以来の最低の年間コアインフレ率読書となる」とYardeni氏は述べている。
ヤーデニ氏は、住居のインフレ率と中古車の価格の低下を予想しており、自動車関連の他の消費者価格が安定することを期待している。
米国銀行の経済学者マイケル・ゲープン氏は、5月の報告書が4月の好調な推移を継続すると見ている。
ゲープン氏は、「1月から3月までの月次コアCPIインフレ率が0.4％と平均した後、4月には方向性が変わった。 我々は5月のコアCPIとヘッドラインCPIがそれぞれ0.3％と0.1％の上昇となり、年間インフレ率はそれぞれ4.6％と34％で4月と同じになると予想している」とゲープン氏は語った。
<h3 class="wp-block-heading">過去のCPI報告書に対する市場の反応</h3>
2024年5月15日にCPI報告書が発表され、これは、株式、債券、金、および投機的資産を巡る株式市場の反発を引き起こした。
<ul>
<li>S&amp;P 500は、この日に SPDR S&amp;P 500 ETF トラスト（NYSE: <a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）で1.2％上昇した。</li>
<li>テクヘビーなナスダック100は、 Invesco QQQ Trust（NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>）で1.6％上昇した。</li>
<li>長期国債利回りは下がり、 iShares 20+ Year Treasury Bond ETF（NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>）は1.4％上昇した。</li>
<li>金は SPDR Gold Trust（NYSE: <a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>）で1.3％上昇した。</li>
<li>ビットコイン（CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）は7.4％上昇し、2か月間で最高の1日となり、今年の最高の3番目の読書を記録した。</li>
<li>Invesco DB USDインデックスブリッシュファンドETF（NYSE: <a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>）がドルの指標として下落し、0.7％下がり、2023年12月中旬以来の最悪の1日の性能を記録した。</li>
</ul>

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