Published: Sunday, January 5, 2025 · 4:50 AM | Updated: Sunday, January 5, 2025 · 4:50 AM
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This week, key economic data, including the U.S. December non-farm payroll report and the Federal Reserve meeting minutes, will be released. The U.S. earnings season is set to begin. Last week, global markets were relatively quiet, with U.S. Treasury yields continuing to impact the markets. U.S. stocks fell across the board, with the Dow down 0.60%, Nasdaq down 0.52%, and S&P 500 down 0.48%. In Europe, the FTSE 100 rose by 0.91%, while Germany’s DAX 30 fell by 0.39%, and France’s CAC 40 dropped by 0.99%.
The U.S. December non-farm payroll data is a major focus, with predictions of an increase of around 160,000 jobs and a steady wage growth rate of 4.0%. Prior to this, November JOLTS job openings, December ADP private employment data, and weekly jobless claims will provide further insights into the labor market. Additionally, the December ISM non-manufacturing index and the University of Michigan consumer survey will be key indicators of the U.S. economic performance.
The new earnings season will feature reports from major companies like Bank of America, Wells Fargo, BlackRock, Delta Air Lines, Jefferies, Infosys, and Walgreens. Analysts expect a 9.6% year-on-year growth in S&P 500 earnings for the last quarter.
Oil prices saw their best performance in nearly three weeks, with WTI crude rising 4.76% to $73.96 per barrel and Brent crude up 3.69% to $76.51 per barrel. U.S. commercial crude inventories fell for the sixth consecutive week. Gold prices dipped slightly, with COMEX gold futures down 1.02% to $2645 per ounce, as markets weighed Fed policy prospects.
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