Daily Market Commentary Flash Note – 25 January 2021
Risk appetite diminishes as safe-haven demand leaves rand on the back foot to end the week.
Risk appetite diminishes as safe-haven demand leaves rand on the back foot to end the week.
Asian stocks retreat as investors mull over executive actions by President Biden to fight the virus and earnings, and await potentially more stimulus.
Joe Biden’s inauguration went smoothly, without any violent riots, helping the S&P post its best first-day reaction to a president since 1937.
Yellen pushes for more US stimulus; Alibaba +6%, reacting to Jack Ma resurfacing after weeks away from the public eye; all focus will remain on the flood of US earnings and central bank activity in the latter half of this week.
Luxury goods stocks boost European markets, while financial stocks outperform in Asia.
Global markets trade lower, weighed down by the prospect of tighter lockdowns, political uncertainty and a resurgence of coronavirus cases in China.