02/01/2025 Daily Reports
US and European Stock Futures Rise as Traders Eye Post-Holiday Recovery
- US and European stock futures climbed, signaling potential market recovery after a volatile year-end.
- Futures for the Nasdaq 100 and Euro Stoxx 50 rose over 0.5%, with technology stocks poised to lead gains following recent losses.
- Optimism around AI’s broader market impact and strong earnings forecasts supported sentiment, according to Banque Syz & Co.
- Asian markets, however, fell, with Chinese equities leading declines amid weak economic data, concerns about potential US tariffs, and slowing growth.
- MSCI’s Asian gauge hit a two-week low as Chinese PMI data disappointed.
- The dollar weakened against major peers, while Treasury futures edged higher.
- Oil and gold gained, with US crude stockpiles reportedly shrinking for a sixth consecutive week.
- China’s economy is estimated to have grown by 5% in 2024, though sovereign bond yields hit record lows amid central bank liquidity measures.
- Alibaba divested Sun Art Retail to focus on its core business, while BYD reported record-breaking car sales in 2024.
- In Indonesia, the rupiah weakened after a surprise tax policy change sparked fiscal concerns.
- Meanwhile, a New Year’s Eve attack in New Orleans reignited domestic security debates ahead of President-elect Trump’s inauguration.
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