Wall Street futures pointed to a fractionally higher open (SPY +042%). The US Dollar strengthens ahead of Donald's inauguration and Oil has risen more than 1%. Donald Trump is about to become the President of the USA and the world is watching to see his first actions in office.
Here is the current market situation from CNN Money
European markets are mixed today. The CAC 40 is up 0.31% while the DAX gains 0.05%. The FTSE 100 is off 0.06%.
BEIJING (Reuters) - China National Chemical Corp [CNNCC.UL], or ChemChina, said on Friday it has sought the U.S. anti-trust regulator's approval for its planned $43 billion acquisition of Swiss crop protection and seed group Syngenta AG .
(Reuters) - General Electric Co reported a 35.7 percent jump in quarterly profit on Friday, helped by strength in its power and renewable energy businesses, and affirmed its growth and profit forecasts for 2017.
NEW YORK (Reuters) - As he is sworn in as the 45th U.S. president on Friday, Donald Trump will mark one of the best performances for the American stock market for any presidential transition period of the modern era.
DAVOS, Switzerland (Reuters) - Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil.
SEOUL (Reuters) - South Korea's special prosecutor's office said on Friday it summoned a Samsung Electronics Co Ltd executive for questioning as it investigates a widening influence-peddling scandal that has embroiled President Park Geun-hye.
MUMBAI (Reuters) - Fairfax Financial Holdings is in early talks to sell 25 percent of India's largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a new insurance joint venture, sources familiar with the matter said.
When looking at the latest weekly fund flows, it is clear that the Trump trade is over if only for the time being. As BofA reports, citing EPFR data, the last week saw the largest precious metal inflows in 5 months ($1.3bn), the 4th consecutive week of bond inflows ($4.5bn), and a week of modest $1.7bn equity inflows, however US stocks saw $2.5 billion in outflows, representing the 4th weekly outflow in the past 5 weeks.
Some highlights from BofA's Michael Hartnett:
Election to Inauguration flows: since the US election, BofAML GWIM ETFs show private clients big buyers of Financials, Materials, Bank Loans, Industrials, TIPS, Value; big sellers of Low-Volatility & Precious Metals
Inauguration reversals: EPFR flows show partial profit-taking in these Trump reflation trades into the inauguration...1st outflows from financials in 17 weeks, 1st government bond inflows in 6 weeks (largest in 6 months), and 1st inflows to precious metals in 10 weeks; we also note 1st outflows from HY funds in 8 weeks; but we also see ongoing inflows to "inflation trades" of materials, TIPS, and (in particular) bank loans; so a "pause" in the Davos Man to Joe Six Pack rotation rather than major reversal
Post-inauguration tactics: meanwhile our Global Flow Trading Rule, which had flirted with a "sell" signal mid-Dec'16, has pulled back from the abyss (inflows to equities & HY currently below the 4-week "sell" thresh ...
Global shares were mixed, equity futures, the dollar and crude rose as investors focused their attention on today's inauguration of Donald Trump as U.S. president. While the early tone is well bid, some traders anticipate a volatile session, with speculation that a bout of "sell the inauguration" could cap the aging Trump rally, which started with his inauguration.
Despite last night's Yellen speech which was more dovish than her remarks just 24 hours earlier, and which suggested that the US economy is "not overheating", the dollar managed to rebound from overnight losses and was trading 0.2% higher this morning. The early gains came after China reported its first economic expansion in 2 years (conveniently with president Xi in Davos) with GDP rising to 6.8% after quarters of decline.
However for the year, China's GDP growth declined to the slowest pace in 26 years, despite a record debt load and record weak Yuan.
But it will be all about Trump today: tens of thousands of law enforcement officers and miles of barriers were in place in Washington D.C., as officials braced for hundreds of thousands of people planning to celebrate or protest the ...
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