{"id":293493,"date":"2021-01-06T00:38:39","date_gmt":"2021-01-05T13:38:39","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-wednesday-06-january-2021\/"},"modified":"2021-02-19T12:13:00","modified_gmt":"2021-02-19T01:13:00","slug":"overnight-on-wall-street-wednesday-06-january-2021","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-wednesday-06-january-2021\/","title":{"rendered":"Overnight on Wall Street: Wednesday 06 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;\">It was another mixed performance in the global stock market on Tuesday. European stocks were mostly under pressure while the US share market ended with modest gains ahead of the run-off elections results. In the European markets, while oil and gas stocks rallied on the back of a compromise regarding production cut, investors were concerned of more severe lockdown restrictions across Europe and the speed of the coronavirus vaccine deployment.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269877\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/equity_060121.png\" alt=\"\" width=\"633\" height=\"369\" \/><br \/>\nSource: Bloomberg<\/p>\n<p><span style=\"font-weight: 400;\">Major US equity indices recovered some ground and ended in positive territory after erasing 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 gained 168 points or 0.6% to 30,392.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">S&amp;P 500 rose by 26 points or 0.7% to 3,727.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Nasdaq Composite added 121 points or nearly 1 % to 12,819.<\/span><\/li>\n<\/ul>\n<h4><b>Currency markets\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">In the FX space, major currencies were stronger against the US dollar. The Antipodeans and commodity-linked currencies like the Australian, New Zealand and Canadian dollar rallied lifted by higher commodity prices while the British Pound and safe-haven currencies posted modest gains. <\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269862\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/currency_060121.png\" alt=\"\" width=\"633\" height=\"224\" \/><br \/>\nSource: Bloomberg<\/p>\n<h4><strong>Commodities<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">While the Tuesday\u2019s 13th OPEC and non-OPEC Ministerial Meeting acknowledged the need to gradually return 2 mb\/d to the market, with the pace being determined according to market conditions, it reconfirmed the decision made at the 12th ONOMM to increase production by 0.5 mb\/d starting in January 2021, and adjusting the production reduction from 7.7 mb\/d to 7.2 mb\/d. However, the crude oil prices buoyed on the surprise announcement from Saudi Arabia &#8211; they would voluntarily cut an additional 1 million barrels per day in February and March above its current quota while all while OPEC\u2019s allies get to ramp up production. As of writing, WTI Crude oil (Nymex) and Brent Crude (ICE) were trading at around $49.75 and $53.60 respectively.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269847\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/oil_060121.png\" alt=\"\" width=\"633\" height=\"356\" \/><\/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 continued its rally and edged higher above the $1,950 mark. As of writing, the XAUUSD is consolidating within a tight range around that level.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-269832\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/01\/gold_060121.png\" alt=\"\" width=\"633\" height=\"283\" \/><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;\">Commonwealth Bank Services PMI (Australia)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Caixin Services PMI (China)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Markit PMI Composite, 10 yr Bond Auction and Harmonized Index of Consumer Prices (Germany)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">ADP Employment Change, Markit Services PMI, Markit PMI Composite, Factory Orders, and FOMC Minutes (US)<\/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>Thursday, 07 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<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">6.958<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0.812<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.045<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0.225<\/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\">0.704<\/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 It was another mixed performance in the global stock market on Tuesday. European stocks were mostly under pressure while the US share market ended with modest gains ahead of the run-off elections results. In the European markets, while oil and gas stocks rallied on the back of a compromise [&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: Wednesday 06 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-wednesday-06-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: Wednesday 06 January 2021 - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarkets Equity markets It was another mixed performance in the global stock market on Tuesday. 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