🚨🚨Global Equity Markets Today 2 FEB
US Markets
- **S&P 500**: Up 0.5% to 4,950, driven by strong tech earnings (Amazon +7% post-cloud growth beat).
- **Nasdaq**: Gained 1.3% on AI optimism (NVIDIA +4% after unveiling new chips).
- **Dow Jones**: Flat as energy stocks (Exxon -2%) offset gains in consumer discretionary.
Asia/Europe
- **Hang Seng**: Fell 1.5% on China’s weak services PMI (50.6 vs. 52.0 forecast).
- **DAX**: Up 0.8% on stronger Eurozone retail sales data (+0.3% MoM).
Forex & Central Banks
- **USD**: DXY held at 103.5 ahead of today’s US jobs report. Markets now price a 65% chance of a May Fed rate cut.
- **EUR/USD**: Testing resistance at 1.0900 after Eurozone unemployment hit a record low (6.4%).
- **USD/JPY**: Stabilized near 147.00 as BoJ hints at ending negative rates by April.
Commodities
- **Oil**: Brent crude dropped 1.5% to $78/bbl on oversupply fears and weak Chinese demand.
- **Gold**: Rose 0.8% to $2,060/oz as Middle East tensions and Fed uncertainty boosted safe-haven demand.
Key Events & Data Today
- **US Non-Farm Payrolls**: Final jobs report for January (Forecast: 185K jobs added). A miss could cement rate-cut bets.
- **Amazon Earnings**: Stock surged 7% post-market on AWS growth and cost-cutting.
- **BOE’s Bailey Speech**: Focus on inflation persistence and rate-cut timing.
Key Risks & Trends
- **Tech Earnings Volatility**: Focus shifts to Apple’s iPhone sales slump and Meta’s ad revenue.
- **Middle East Tensions**: Houthi attacks in the Red Sea threaten shipping routes, raising oil price risks.
- **China’s Slowdown**: Weak PMI data pressures Asian equities and commodity-linked currencies (AUD, NZD).
Notable Stock Movements
- **Amazon**: +7% pre-market after beating cloud revenue estimates.
- **ExxonMobil**: -2% on falling oil prices and weak Q4 refining margins.
- **Alibaba**: -3% as China’s consumer spending concerns persist.
Technical Outlook
- **S&P 500**: Bullish above 4,900. Resistance at 5,000; support at 4,850.
- **Bitcoin**: Holds $43,000; resistance at $45,000 (ETF inflows vs. profit-taking).
- **EUR/GBP**: Testing 0.8650 resistance; break above targets 0.8720.
Conclusion
Today focus is on US jobs data and central bank signals. A weak payrolls report could fuel equities and gold, while Middle East risks and oil volatility linger. Tech earnings (Apple, Meta) remain pivotal for Nasdaq momentum.
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