Employment data, $ 40,000 Bitcoin, Hyundai’s Apple blunder – What’s happening in the markets? By Investing.com

© Reuters

Yazar: Geoffrey Smith

Investing.com – Democrats demand immediate dismissal while Donald Trump does not acknowledge the violence of his supporters. Non-farm payroll data is getting ready for the worst figures since May, Hyundai got ahead of itself in talks with Apple on car production and () saw $ 40,000 for a relative month before $ 20,000.

What you need to know in financial markets on Friday, January 8th:

1. Trump shifted; Democrats press for dismissal

President Donald Trump turned to his supporters on Wednesday, denying that Congressional crackdown by his supporters was unlawful and violent. Five people died during the riot, including a police officer.

Democratic parliamentarians, including Senate Majority Leader Chuck Schumer and House of Representatives Nancy Pelosi, have called for Trump’s immediate dismissal, and Vice President Mike Pence will go through a new dismissal process if he does not apply for the 25th Amendment to dismiss Trump. threatened.

The threat appears largely empty. While Pence has been reported against the use of the 25th Amendment by various organizations, the dismissal process still requires the support of 16 Republican Senators.

2.Bitcoin hits $ 40K, Copper is 8-year high

Following the USA’s highs in eight years, European and Asian stocks also rose, while the global rally in risk assets continued.

However, the dollar saw a correction in slight increases, and Treasury yields reached an 11-month high after Philadelphia Fed Chairman Patrick Harker said the Fed might reduce asset purchases later this year. His comments contradicted those of Cleveland Fed President Loretta Mester. However, neither of them are voting members in the FOMC this year.

It traded at 1.08%, up 0.1% to 89.88, up to 1.10%. On the other hand, Bitcoin exceeded $ 40,000, not even a month after seeing $ 20,000 for the first time.

3. Stocks will be opened higher; encouragement hopes remain

US stock markets are preparing for a high opening, continuing to receive support for expectations of greater government spending and the Fed’s continued accommodation.

It rose by 97 points and gained 0.4% and 0.5%.

Among the stocks that may be in the spotlight are Boeing (NYSE 🙂 and Apple, which has been the subject of odd press releases from South Korean automaker Hyundai (OTC :), which said it will receive a $ 2.5 billion penalty against earnings to resolve allegations of misleading US officials for the 737 MAX program. (NASDAQ 🙂 exists. Hyundai shares gained 19% in Seoul after saying it was in preliminary discussion regarding a possible car production for Apple. However, this statement has been corrected twice and eventually the iPhone manufacturer’s name has been completely removed from the release.

4. Employment will show its smallest increase since May – or worse

The US labor market has probably experienced its weakest month since the spring disaster in December. The report is expected to have seen an increase of only 71,000 towards the middle of last month. The restrictions that have spread to the service industry due to the pandemic have affected recruitment almost everywhere.

There is a downside risk for this report as well, given the employment processor ADP’s estimate of 123,000 losses in private sector employment for the same period. It is expected to increase from 6.7% to 6.8%. Government figures will be published at the usual time.

, and their numbers all exceeded expectations – but only for November. So before the last increase in the Covid-19 pandemic. Germany and the US shared record numbers of virus deaths on Thursday.

5. Oil is rising again on spot purchases; LNG at a record level

Crude oil prices reached their highest level since mid-February, believing that Saudi Arabia’s unilateral decision to cut production to stabilize the market will support prices until the periodic worst impact of the pandemic is over.

It increased by 1.3% to $ 51.52, while it was trading at $ 55.20 with an increase of 1.5%.

Reports of large purchases in the spot market by Unipec supported the prices, while the cold weather in Asia brought liquefied (LNG) prices to record levels.

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