December 30, 2024
ISM Manufacturing PMI previous print was 48.1. The number was higher than the previous 44.4.
Possible influence: Volatile US Dollar, Gold and US Stocks
CES is an annual trade show held in Las Vegas where major companies host presentations of new products and technologies. This year NVIDIA CEO Jensen Huang will speak (January 7) and may unveil new products and speak about AI.
Possible Influence: Tech linked Stocks / NVIDIA
The previous month had unemployment at 4.2%. Nonfarm Payrolls for the previous month printed 227,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Core CPI (excluding food and energy) was 3.3%, Year-over-Year in November. Top-line CPI for October came in at 2.7%, in line with expectations.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Month-over-Month Retail Sales was at 0.7% in November, which was slightly higher than the 0.6% expected by the market.
Possible Influence: Volatile US Dollar, Gold and US Stocks
President Trump will be inaugurated on January 20th. Major appointments will be made and new policies will be put forward. Markets will be looking at his trade and foreign policy with China and Europe amid fears of a trade war and of potentially higher inflation in the US. US policy on the Middle East, Russia - Ukraine, its policies on corporate taxation and regulations will also be of great interest. Trump’s energy policy may include pushing to increase US Crude oil, Nat Gas output.
Possible Influence: Volatile Stocks, Crude oil, Natural gas, Gold, Palladium, Platinum
The World Economic Forum takes place in Davos, Switzerland and will bring together world leaders, global business leaders and the media to discuss global issues. They are expected to discuss geopolitical issues and topics such as AI.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The Bank of Japan will meet to set its interest rates. In July the bank increased rates by 15 basis points to 0.25%.
Possible Influence: Volatile Japanese Yen
The Bank of Canada will meet to set interest rates. They are currently 3.25% after the bank cut interest rates in December by 50 basis points. The bank may decide to cut by 25 basis points in January, according to analysts.
Possible Influence: Volatile Canadian Dollar and Canadian Stocks
The Federal Open Market Committee of the U.S. Federal Reserve will conclude its 2-day meeting to decide on interest rates. The current rate is 4.50%, after a 25-basis point cut in December. Analysts expect the rate to remain at 4.50% in January.
Possible Influence: Volatile US Dollar, Stocks, Gold
The European Central Bank will meet to discuss interest rates. Rates are currently at 3.15% after a rate cut of 25 basis points in December. Rates might be cut by another 25 basis points in January.
Possible Influence: Volatile Eurodollar, Gold
The 4th Quarter earnings season kicks off in January, with the banks starting off.
Of the major companies, JP Morgan (January 15th), Goldman Sachs (January 16th), Netflix (January 21st) and Tesla (January 22nd) are expected to declare their earnings.
Possible Influence: Volatile US Stocks