In Asia, the stock markets in China are closed for the Chinese New Year. Meanwhile, in Japan, the Nikkei is up by 3% at this hour and has reached a new record high of 38,000. The Kospi index has also risen by 0.8%. US futures are trading slightly lower this morning.
On Wall Street last night, the main indices closed in a mixed trend. The Nasdaq fell by 0.3%, the S&P500 lost 0.1%, and the Dow Jones added 0.3%, breaking an all-time high of 29,462.55. Stock nature jumped by 7.5% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.
The share of Beamr soared during trading on Monday by about 1500% after it reported a collaboration with Nvidia. The Tel Aviv-based company was issued just over a year ago when it raised $7.8 million at a valuation of about $48 million. At the end of trading on Monday, the increases in the stock moderated, and it closed with a jump of about 400%. Beamr’s market value was $129 million at close on Wall Street last night.
In the US government debt market, bond yields remained relatively stable overnight as the two-year bond yield rose to around 4% and the ten-year bond yield held steady around 4%. Oil prices were slightly higher this morning with Brent barrels priced at around $82 dollars each as Dr Michael Bafman predicted that volatility in oil prices will continue due to security events in the Middle East region.
Today’s economic data releases include unemployment figures in Great Britain and consumer price indices in Switzerland and Israel respectively.
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