Markets await US jobs... Citi warns of global recession... All that glitters is not…zinc...
Markets await US jobs
World markets will be watching US jobs data Friday as analysts begin to dismiss a rate rise by the Fed this year. Despite a rise in December the continued volatility of both equities and oil prices have pressured the US economy and a softer jobs market could be a deciding factor for the Fed’s next meeting.
Asian markets wobbled with mixed fortunes for stocks and currency fluctuations resulting from the weaker US dollar. Most of the major indexes closed lower except for Hong Kong and Korea.
European investors are showing greater sentiment with the major indexes holding in positive territory ahead of the labour figures.
Oil prices are also higher so far.
Wall Street and Toronto are expected to open higher.
Citi warns of global recession
A client note from Citigroup warns that the oil and equities rout could spiral into a global recession. Current conditions have created a “negative feedback loop” the note warns and it could trigger a widespread recession if things do not improve. The firm says that “Oilmageddon” together with continued appreciation of the greenback is something to be fearful of.
All that glitters is not…zinc
Zinc is the king of the metals currently according to a report from Goldman Sachs. While other base metals are seeing some resurgence currently and may continue to do so for a few months, Goldman believes that zinc is the most bullish as mines become depleted. The metal has gained almost 7 per cent on the London Metals Exchange so far in February CNBC reports.
World markets will be watching US jobs data Friday as analysts begin to dismiss a rate rise by the Fed this year. Despite a rise in December the continued volatility of both equities and oil prices have pressured the US economy and a softer jobs market could be a deciding factor for the Fed’s next meeting.
Asian markets wobbled with mixed fortunes for stocks and currency fluctuations resulting from the weaker US dollar. Most of the major indexes closed lower except for Hong Kong and Korea.
European investors are showing greater sentiment with the major indexes holding in positive territory ahead of the labour figures.
Oil prices are also higher so far.
Wall Street and Toronto are expected to open higher.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 16,416.58 (+0.49 per cent) | -4.32 per cent | -8.21 per cent |
| TSX Composite | 12,774.50 (+1.44 per cent) | -1.13 per cent | -15.54 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE | 5,938.65 (+0.68 per cent) | -3.24 per cent | -13.51 per cent |
| German DAX | 9,413.05 (+0.21 per cent) | -8.70 per cent | -13.68 per cent |
| Asia (at close) |
|||
| China CSI 300 | 2,963.79 (-0.70 per cent) | -14.80 per cent | -11.97 per cent |
| Japan Nikkei | 16,819.59 (-1.32 per cent) | -8.46 per cent | -3.91 per cent |
| Other Data (at 5.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 34.78 (+0.93 per cent) |
32.14 (+1.32 per cent) |
1158.70 (+0.10 per cent) |
U$0.7286 |
| Aus. Dollar |
|||
| U$0.7190 | |||
Citi warns of global recession
A client note from Citigroup warns that the oil and equities rout could spiral into a global recession. Current conditions have created a “negative feedback loop” the note warns and it could trigger a widespread recession if things do not improve. The firm says that “Oilmageddon” together with continued appreciation of the greenback is something to be fearful of.
All that glitters is not…zinc
Zinc is the king of the metals currently according to a report from Goldman Sachs. While other base metals are seeing some resurgence currently and may continue to do so for a few months, Goldman believes that zinc is the most bullish as mines become depleted. The metal has gained almost 7 per cent on the London Metals Exchange so far in February CNBC reports.
