On Thursday, January 2, US markets closed in the red, with Wall Street finishing lower after a volatile day of trading. The session was marked by strong labor market data, a strengthening dollar and a decline in Tesla stock. Investors remained cautious, awaiting key fourth-quarter employment and earnings data, while uncertainties over Federal Reserve rate decisions and economic trends continued to weigh on sentiment.
In terms of economic figures, weekly unemployment claims in the United States fell to 211,000 last week, below expectations of 222,000. The S&P Global manufacturing PMI fell to 49.4 in December, slightly above preliminary estimates. Meanwhile, construction spending stabilized in November, missing forecasts for a 0.3% rise after a revised 0.5% gain in October.
Most sectors of the S&P 500 finished in the red, with losses led by consumer discretionary stocks, materials and real estate. On the other hand, energy and utility stocks defied the trend, closing higher.
The Dow Jones fell 0.36% and closed at 42,392.27, the S&P 500 fell 0.22% to 5,868.60 and the Nasdaq Composite fell 0.16% to 19,280. 79.
Asian markets today
- The Japanese market was closed for the New Year.
- Australia’s S&P/ASX 200 index closed 0.60% higher at 8,250.50 on Friday, led by gains in the gold, energy and A-REITs sectors.
- India’s Nifty 50 index closed 0.82% lower at 23,990.15, and the Nifty 500 lost 0.56% to close at 22,691.70, with the decline led by losses in the technology, banking and capital goods.
- China’s Shanghai Composite fell 1.57% to close at 3,211.43, while the Shenzhen CSI 300 fell 1.18% to end the day at 3,775.16.
- Finally, Hong Kong’s Hang Seng Index closed the session up 0.70% at 19,760.27.
The Eurozone at 5:30 a.m. ET
-- The European STOXX 50 index lost 0.50%.
- The German DAX fell 0.30%.
- The French CAC fell by 0.79%.
- The UK’s FTSE 100 was down 0.07%.
- European stocks fell in a light post-holiday trading session, with the STOXX 600 down 0.2% but on track for weekly gains. Traders kept an eye on economic data, interest rate tracks and potential trade tensions between the United States and China.
Commodities at 5:30 a.m. ET
- WTI crude oil fell 0.30% to $72.88 per barrel, and Brent lost 0.32% to $75.69 per barrel.
- Natural gas fell 3.33% to $3.538.
- Gold fell 0.04% to $2,667.99, silver rose 0.74% to $30.120 and copper fell 0.04% to $4.0245 .
US futures at 5:30 a.m. ET
Dow Jones futures gained 0.22%, S&P 500 futures gained 0.29% and Nasdaq 100 futures rose 0.41%.
Forex at 5:30 a.m. ET
- The U.S. dollar index fell 0.15% to 109.09, USD/JPY lost 0.08% to 157.34, and USD/AUD fell 0.20% to 1.6088.
- The dollar held near a two-year high amid high growth expectations in the United States, while European stocks fell on rising gas prices and the index Chinese star posted its biggest weekly loss since 2022.
On Thursday, January 2, U.S. markets closed in the red, with Wall Street ending lower after a day of volatile trading. The session was shaped by strong labor market data, a strengthening dollar, and a decline in Tesla stock. Investors remained cautious, awaiting key employment data and fourth-quarter earnings, while uncertainties over Federal Reserve rate decisions and economic trends continued to weigh on sentiment.
