{"id":293491,"date":"2021-01-04T23:43:23","date_gmt":"2021-01-04T12:43:23","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-tuesday-05-january-2021\/"},"modified":"2021-02-19T12:13:00","modified_gmt":"2021-02-19T01:13:00","slug":"overnight-on-wall-street-tuesday-05-january-2021","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-tuesday-05-january-2021\/","title":{"rendered":"Overnight on Wall Street: Tuesday 05 January 2021"},"content":{"rendered":"<blockquote><p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p><\/blockquote>\n<h4><strong>Equity markets<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Global equities started the new year on a mixed note as investors digested the rising number of coronavirus cases in major economies, further social distancing measures and lockdowns, and the runoff elections in the US which will likely determine the first two years of the Biden administration.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">European stocks rallied on Monday lifted by the overall optimism around the Brexit agreement and the roll-out of vaccinations despite the threat of further lockdowns. Europe and the UK are moving on with an <\/span><a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_20_2531\"><span style=\"font-weight: 400;\">EU-UK Trade and Cooperation Agreement <\/span><\/a><span style=\"font-weight: 400;\">bringing much relief to the European markets. The FTSE100 ended 111 points or 1.7% higher at 6,572 pts.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wall Street ended in the red dragged by virus woes and runoff elections. Major US equity indices erased more than 1% on the first trading day of the new year:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Dow Jones Industrial Average lost 383 points or 1.3% to 30,224.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">S&amp;P 500 dropped by 55 points or 1.5% to 3,701.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Nasdaq Composite fell by 190 points or 1.5% to 12,698.<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269740\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/new-year-fizzle_050121.png\" alt=\"\" width=\"633\" height=\"367\" \/><\/p>\n<h4><b>Currency markets\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">In the FX space, the US dollar index which tracks the performance of a basket of currencies against the greenback firmed during the course of the day after gapping lower. As risk aversion crept into the markets, traders sought safety with haven assets.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269725\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/currency_050121.png\" alt=\"\" width=\"633\" height=\"284\" \/><br \/>\nSource: GO MT4<\/p>\n<p><span style=\"font-weight: 400;\">The Pound was among the worst performers as England went into lockdown again which is expected to last until mid-February. The GBPUSD pair dropped from 1.36 level to the 1.35 level on Monday.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269710\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/pound_050121.png\" alt=\"\" width=\"633\" height=\"285\" \/><br \/>\nSource: GO MT4<\/p>\n<h4><strong>Commodities<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Crude oil prices struggled to find a firm direction amid fresh restrictive measures in major economies and following an important OPEC+ meeting. In a highly volatile trading environment, crude oil prices retreated lower. As of writing, WTI Crude oil (Nymex) and Brent Crude (ICE) were trading at around $47.62 and $50.65 respectively.<\/span><\/p>\n<h4><img loading=\"lazy\" class=\"alignnone size-full wp-image-257817\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/09\/gold_100920.jpg\" alt=\"\" width=\"700\" height=\"520\" \/><strong>Gold<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">The precious metal rallied as investors remain cautious despite the roll-out of vaccinations. The spread of the virus continues to create havoc threatening to hinder global recovery. After gapping higher on the open, the XAUUSD pair soared above the $1,940 mark.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269695\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/gold_050121.png\" alt=\"\" width=\"633\" height=\"284\" \/><br \/>\nSource: GO MT4<\/p>\n<p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p>\n<p><strong>Key upcoming events<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Retail Sales and Unemployment Rate (Germany)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Fed\u2019s Mester Speech, ISM Manufacturing Employment Index, Manufacturing PMI, Manufacturing New Orders Index, and Fed\u2019s Williams Speech (US)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consumer Price Index (Switzerland)<\/span><\/li>\n<\/ul>\n<table style=\"height: 171px;\" border=\"1\">\n<tbody>\n<tr style=\"height: 75px;\">\n<td style=\"text-align: center; width: 728px; height: 75px;\" colspan=\"7\"><strong>Wednesday, 06 January 2021<\/strong><strong style=\"font-family: inherit; font-size: inherit;\">\u00a0<\/strong><strong><br \/>\n<\/strong>Indicative Index Dividends<br \/>\n<em><sup>Dividends are in Points<\/sup><\/em><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>ASX200<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>WS30<\/strong><\/td>\n<td style=\"width: 103px; height: 10px;\" width=\"100\"><strong>US500<\/strong><\/td>\n<td style=\"width: 101px; height: 10px;\" width=\"100\"><strong>US2000<\/strong><\/td>\n<td style=\"width: 108px; height: 10px;\" width=\"100\"><strong>NDX100<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>CAC40<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>STOXX50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0.129<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0.054<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.04<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>ESP35<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>ITA40<\/strong><\/td>\n<td style=\"width: 103px; height: 10px;\" width=\"100\"><strong>FTSE100<\/strong><\/td>\n<td style=\"width: 101px; height: 10px;\" width=\"100\"><strong>DAX30<\/strong><\/td>\n<td style=\"width: 108px; height: 10px;\" width=\"100\"><strong>HK50<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>JP225<\/strong><\/td>\n<td style=\"width: 104px; height: 10px;\" width=\"100\"><strong>INDIA50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n<img loading=\"lazy\" class=\"alignnone\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" alt=\"\" width=\"942\" height=\"122\" \/><\/a><\/p>\n<p style=\"font-weight: 400;\"><em>Disclaimer:\u00a0\u00a0The articles are from GO Markets analysts, \u00a0based on their independent analysis or personal experiences. Views or opinions or trading styles expressed are of their own; \u00a0should not be taken as either representative of or shared by GO Markets. \u00a0Advice (if any), \u00a0are of a \u2018general\u2019 nature and not based on your personal objectives, financial situation or needs.\u00a0 You should therefore consider how appropriate the advice (if any) is to your objectives, financial situation and needs, before acting on the advice. \u00a0If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Deepta Bolaky \u00a0@DeeptaGOMarkets Equity markets Global equities started the new year on a mixed note as investors digested the rising number of coronavirus cases in major economies, further social distancing measures and lockdowns, and the runoff elections in the US which will likely determine the first two years of the Biden administration. European stocks [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[129],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Overnight on Wall Street: Tuesday 05 January 2021 - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-tuesday-05-january-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Overnight on Wall Street: Tuesday 05 January 2021 - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarkets Equity markets Global equities started the new year on a mixed note as investors digested the rising number of coronavirus cases in major economies, further social distancing measures and lockdowns, and the runoff elections in the US which will likely determine the first two years of the Biden administration. 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