Market dynamics in the moment (futures):
📈 S&P 500: +0.35%
📈 Nasdaq: +0.44%
📈 Dow Jones: +0.24%
🌕 Gold: +0.01% ($1793)
⚫️ Brent oil: +0.34% ($79.45)
🇺 US Treasuries 10 years: +1.72% (3.550%/year).
U.S. stock index futures are trading in green territory at the premarket. The stock market is recovering from last week’s correction caused by hawkish Fed rhetoric and weak macro statistics. This week is likely to be quieter, as the market will see lower trading volumes ahead of the Christmas and New Year holidays in the United States. European stock indices show positive dynamics, stock markets in Asia closed with a decline.
🟢 The price of gas in Europe dropped below $1200 per thousand cubic meters on the forecasts of warm weather in the region. In addition, the occupancy rate of European underground gas storage facilities remains very high for this period of time. They are now 84.15% full (10 p.p. higher than the average for the past five years as of this date).
🟢 The Chinese authorities announced during the closing of the Central Economic Working Conference (CEWC) that they intend to take measures to stimulate domestic demand and adjust policies to combat the COVID-19 epidemic. A GDP growth target of 5% in 2023 has been set.
🟢 The People’s Bank of China today injected about 85 billion yuan ($12.2 billion) into the country’s financial system in reverse repo transactions.
🟡 Reuters reports that Japan is considering a review of monetary policy following the appointment of a new head of the Bank of Japan in April 2023.
🟢 20th Century Fox’s “Avatar: The Way of the Water,” owned by Walt Disney #DIS, grossed $435 million at the worldwide box office in its first weekend, the third highest grossing weekend in the postseason.
🟡 Twitter owner Elon Musk launched a poll asking users if he should step down as head of the social network. 57.5% of the 17.5 million participants voted in favor of resigning. Musk promised in his post that he would “stick with the results of the poll.” Tesla #TSLA stock added about 3% at the premarket on this news.
🟢 JPMorgan Chase #JPM closed a deal to buy a 48.5% stake in Viva Wallet, a Greek fintech specializing in payment systems for SMBs, for more than $800 million.
🟢 VF Corp. #VFC is considering selling its JanSport backpack business. According to Bloomberg, the unit could be worth about $500 million.
🟢 L3Harris Technologies #LHX, an aerospace and defense technology provider, is buying rocket engine maker Aerojet Rocketdyne Holdings #AJRD for $4.7 billion including debt.
