Stocks Turmoil Resumes

Market Reviews

Shares have once again weakened. DOW fell more than -1000 points for already second time this week, having declined -1035.89 (4.15%) to 23860.46, marking the second biggest drop in the history. S&P 500 reduced -100.66 points (-3.75%) at 2581.0, under the weekly minimum of 2593.07. NASDAQ was down -274.82 points (-3.9%) at 6777.16, under the weekly minimum of 6824.82. Nikkei fell -3.2% and HK HSI lost -3.65%. Japanese Yen remains the firmest with the greenback behind its back. Australian Dollar is the weakest, followed by the Euro, Loonie and New Zealand dollar. Pound reinforced after yesterday’s BoE meeting.

Reserve Bank of Australia revised down its unemployment rate projections. The forecasts for growth and inflation remained untouched. Year average Gross Domestic Product growth is expected to mark 3% this year and 3.25% in 2019. Consumer Price Index should indicate 2.25% this year and 2.25% by in 2019. Jobless rate is projected to fall to 5.25% from 5.5% this year and to remain at 5.25% in 2019.

Australian home loans fell -2.3% mom in December. Japan M2 increased 3.4% yoy last month. China Consumer Price Index lowered to 1.5% yoy, Purchasing Price Index declined to 4.3% yoy. Today, Swiss will publish unemployment rate. Britain will announce productions and trade balance. Canada will present employment figures.