{"id":293513,"date":"2021-02-03T01:13:48","date_gmt":"2021-02-02T14:13:48","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-wednesday-03-february-2021\/"},"modified":"2021-02-19T12:12:56","modified_gmt":"2021-02-19T01:12:56","slug":"overnight-on-wall-street-wednesday-03-february-2021","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-wednesday-03-february-2021\/","title":{"rendered":"Overnight on Wall Street: Wednesday 03 February 2021"},"content":{"rendered":"<p><strong>By Lachlan Meakin<\/strong><\/p>\n<h4><strong>Equity markets<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">US Equity markets soared last night with strong corporate earnings, stimulus bill progress and promising progress on US COVID vaccination rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">European markets trailed along posting strong gains and Australian and Asian markets are looking to open solidly in the green.<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Dow Jones up 475 (1.57%)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">NASDAQ up 209 (1.56%)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">DAX up 213 (1.56%)<\/span><\/li>\n<li>FTSE up +50 (0.78%)<\/li>\n<\/ul>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-270717\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/02\/Picture1_03feb21.png\" alt=\"\" width=\"601\" height=\"308\" \/><br \/>\nSource: Google Finance<\/p>\n<p><span style=\"font-weight: 400;\">Corporate earning in the US continued their impressive beats of analyst estimates with tech heavyweights Alphabet (GOOG) and Amazon (AMZN) handily beating expectations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Stimulus talks have begun between the Biden administration and Republican senators which has given investors hope that a deal will be struck in the coming weeks, while it is<\/span><\/p>\n<p><b>Simulus<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Biden administration and Republican senators have met this week to negotiate the passing of the relief bill before the Senate. While it seems unlikely the full 1.9T will be passed reportedly good progress is indicating a still hefty stimulus will be passed in the coming weeks.<\/span><\/p>\n<p><b>COVID-19<\/b><\/p>\n<p><span style=\"font-weight: 400;\">US vaccinations have picked up pace with the US administering shots at a faster daily rate than any country in the world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An important milestone was also passed this week with more Americans have received at least one dose of a Covid-19 vaccine than have tested positive for the virus.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-271080\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/02\/Picture2_03feb21.png\" alt=\"\" width=\"602\" height=\"311\" \/><br \/>\nSource: Bloomberg<\/p>\n<h4><b>FX markets\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Yesterdays RBA rate statement gave no surprises with the target rate with the RBA reaffirming the 0.1% cash rate and 3 year bond target would remain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There was an unexpected announcement that the RBA planned to extend it\u2019s 6 month 100B bond buying QE that was due to expire in April. The program will be extended by another 20 weeks, with the RBA committing to another 100b in bond purchases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This caused a sharp drop in the AUDUSD exchange rate pushing it briefly below the all important 50 day moving average. This average is now an important support level in the coming days for AUDUSD.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-271065\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/02\/Picture3_03feb21.png\" alt=\"\" width=\"601\" height=\"339\" \/><br \/>\nSource: GO MT4<\/p>\n<p><strong>By Lachlan Meakin<\/strong><\/p>\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, 04 February 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\">2.286<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0.387<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.176<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">1.847<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">3.607<\/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: The 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 Lachlan Meakin Equity markets US Equity markets soared last night with strong corporate earnings, stimulus bill progress and promising progress on US COVID vaccination rates. European markets trailed along posting strong gains and Australian and Asian markets are looking to open solidly in the green. Dow Jones up 475 (1.57%) NASDAQ up 209 (1.56%) [&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 03 February 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-03-february-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 03 February 2021 - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Lachlan Meakin Equity markets US Equity markets soared last night with strong corporate earnings, stimulus bill progress and promising progress on US COVID vaccination rates. 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