Daily Market Review – January 9, 2017
Stocks and Indices
Most Asian markets started the week off in higher territory, boosted by a strong Dow Jones during Friday’s session. Australia’s ASX 200 gained 51.82%, or 0.9%, while the South Korean Kospi slid 0.02%. In Hong Kong, the Hang Seng index increased 0.12% by mid-afternoon. In mainland China, the Shanghai composite advanced 17.27 points, or 0.55%, while the Shenzhen composite increased 6.02 points, or 0.303%.
Oil fell significantly on Monday, as U.S. output appeared to increase. Brent crude futures tumbled $1.01, or 1.8%, to $56.09 per barrel at 1006 GMT, while U.S. West Texas Intermediate crude futures declined $1, or 1.85%, trading at $52.99 per barrel.
The ICE Dollar index gained 0.2% at 102.44, while the WSJ Dollar Index added 0.3% at 93.10. The greenback gained against the Japanese yen, gaining 0.5% to change hands at ¥117.37, while the euro fell from $1.0553 late Friday to $1.0513. The British pound dropped to $1.2143, down from $1.2270 on Friday.
Unusually icy weather has gripped Europe, and more than 20 people have died from the cold. In Poland, ten people died on Sunday, while others died in Italy, Ukraine, and the Czech Republic. Some of the Greek Isles, as well as Southern Italy, have been hit by snow, and many of Rome’s fountains are frozen. In Moscow, temperatures hit 120 year lows on Orthodox Christmas.
*Featured image courtesy of Buffy1982/Shutterstock.