Tue. a.m. 18/1/22. Europe up, U.S. closed.
Overnight.
The U.S. stock and bond markets were closed for MLK Holiday. Europe rose. German DAX was up +0.3% while UK FTSE was up strongly +0.9%. European Stoxx600 rose +0.7%. Toronto Composite was up +0.8%. Canada, like Australia, has a strong resources segment, but the composition is different from Australia's. While Australia is skewed to iron ore, Canada is skewed to energy. The Toronto index has a degree of correlation with Australia, but it is not strong.
Commodities.
Oil prices were generally higher last night. U.S. Nymex was up +0.6%. Copper up modestly +0.2%. Gold up +0.1%. Iron Ore fell -2.2%. That is likely to impact the prices today for RIO and FMG, the two big miners most dependent on Iron Ore. BHP is more diversified. BHP up in the U.K. +1.4%.
All of the above suggests a modest positive opening for the XJO. At 10.06 a.m. Eastern Summer Time, XJO was up just 3.2 points up - not enough to move the %age indicator.
No comments:
Post a Comment