Here are five things you need to know on Monday, January 10th:
1.-Mixed Equity Futures, Focusing on Bond Yields
U.S. stock futures were mixed on Monday, but investors continue to reset stock, bond and currency prices following last week’s hawkish federal minutes and strong employment data, so the benchmark 10-year government bond yields hit a two-year high.
Inflation is set to accelerate at the fastest annual pace in more than 30 years later this week, boosted by pandemic stimuli, supply chain disruptions and rising commodity prices, and last week’s Fed Minutes accompanies rate hikes. He revealed a firm commitment to curb price increases. According to interest rate futures, this is likely to come this year.
Meanwhile, headline unemployment has fallen to 3.9% and oil prices have returned to $ 80, so investors are the first of the year to see a long-term surge in Covid infections and prolonged inflation. We are concerned that US growth will be curtailed in the coming months.
On Wall Street, futures contracts related to the Dow Jones Industrial Average show a modest 10-point opening bell gain, while futures contracts related to the S & P 500 are priced at a 1-point withdrawal.
Focusing on technology, which has just entered its worst week since February last year, the Nasdaq Composite aims to fall 15 points as benchmark 10-year Treasury yields rise to 1.996% in overnight trading. ..
2.-Wall Street Week ahead
Inflation data, bond auctions and bank earnings highlight a busy week on Wall Street, and investors are also looking at key Congressional testimony from Federal Reserve Chairman Jerome Powell.
Powell was questioned by the Senate Banking Commission on Tuesday as part of his nomination process, and Lael Brainard, President Joe Biden’s nomination for the Federal Reserve Vice-Chair, will continue on Wednesday.
Inflation data for December was also picked up on Wednesday, calling for an auction with a 7.2% headline CPI and a new 10-year Treasury yield of $ 36 billion.
Weekly unemployed billing is set for Thursday, with a $ 22 billion auction of 30-year bonds scheduled for the second half of the session.
On the earnings side, Wall Street’s largest bank will launch its fourth-quarter earnings season on Friday with updates from JP Morgan Chase. ((((JPM)-Get the JP Morgan Chase and Company Report, Citigroup ((((C)-Citigroup Inc.Get the report And Wells Fargo WFC..
3. –Reddit Adopts Morgan Stanley, Goldman for $ 15 Billion IPO
By hiring investment banking advisors at Morgan Stanley and Goldman Sachs, Reddit Inc. is approaching an IPO that can value its eponymous online bulletin board operator for about $ 15 billion.
The group, which submitted a plan to open the 16-year-old company to the US Securities and Exchange Commission last month, received a valuation of $ 10 billion from a Fidelity Management-led August funding round, according to media reports. It may exceed. Will be listed later this year.
With over 100,000 so-called “community groups” and about 52 million daily active users, Reddit hired Drew Vollero, a former Snap Inc. SNAP CFO who helped launch a messaging app maker in 2017. did. We have attracted investors such as Fidelity, Sequoia Capital and China-based Tencent Holdings.
4.-Bitcoin stays close to September lows as alternative yields leap
Bitcoin prices have remained close to the lowest levels in night trading since late September, nailing the value of the world’s largest cryptocurrency, about 40% south of the all-time highs reached in mid-November.
Analysts note the lack of liquidity during the day, with rising bond yields, a stronger US dollar and the closure of major Bitcoin mining capacity in Kazakhstan last week, resulting in lower Bitcoin prices of $ 41,000 in night trading. Protest investors from a sharp drop that has been pushed to the standard.
Riot blockchain ((((Riot)-Get the Riot Blockchain Inc reportBitcoin mining rivals Marathon Parent Group were up 1.8% at $ 29.00 each, down 0.2% at $ 20.32 in pre-market trading, down 10.5% last week.
Bitcoin was finally seen trading 0.15% higher at $ 41,938.20 respectively in the session.
5.-Novak Djokovic wins early court battle to compete in Australian Open
Tennis star Novak Djokovic stayed in Australia and won an early court victory to challenge the first major championship on Monday when a federal judge ordered the government to revive the visa.
Djokovic, who has not been vaccinated with Covid 19, was denied admission last week as he tried to travel to Melbourne, the venue for the Australian Open, to defend the 2021 title.
Judge Anthony Kelly of the Federal Circuit ordered the visa to be restored, but noted that the release from the quarantine hotel did not give enough time to challenge the government’s decision. ..
Australian Immigration Minister Alex Hawke can revoke a 34-year-old Serbian visa (a condition approved by Judge Kelly) under national immigration law.
..
