The NASDAQ kicked off what is set to be a busy week by reaching a record high on Monday.
Traders across the globe continue to set their eyes on earnings season this week, with several tech giants set to report their Q4 financial performance, starting off with Microsoft on Tuesday.
NASDAQ’s all time high also comes as we get set for the first post-Trump FOMC meeting this Wednesday, with many expecting some new guidance from the Fed.
As of writing the NASDAQ was up 0.40%, with the S&P 500 also slightly up by 0.17%, while the DOW was down modestly by 0.26% in afternoon trading.
FTSE 100 falls to three-week low
London’s FTSE 100 fell to its lowest in three weeks despite figures showing that COVID-19 infections fell to their lowest level this year.
It was confirmed that 22,195 cases of the coronavirus were reported in the UK on Sunday, in addition to 592 deaths, despite figures somewhat improving, the government remains keen to maintain national lockdowns, but will reassess the case on February 15th.
A government statement read that, “It has always been our intention to ease restrictions where we can from the 15th, and schools are obviously our top priority.”
The FTSE 100 was down 0.84% to start the week.
DAX slips as ECB President Lagarde warns of delayed recovery
The World Economic Forum which typically takes place in Davos, Switzerland commenced today, with the ECB’s Christine Lagarde giving her view on economic recovery.
In her comments, the President of the European Central Bank stated that, “Our hope is that still 2021 is the year of recovery but in two phases and phase one is clearly one that is still plagued with very high levels of uncertainty.”
She added that, “it is still about crossing that bridge to recovery, but the journey seems to be a little bit delayed but should not be derailed.”
Europe’s main index the DAX 30 fell 1.66%.
Quote of the day – “Accepting losses is the most important single investment device to ensure the safety of capital.”Gerald M. Loeb
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Senior Market Analyst