Wealth Daily 31 January 2022




WEALTH DAILY 2022-01-31
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US equities rebounded on Fri, buoyed by strong earnings and outlook from Apple (AAPL US, +6.98%) and Microsoft (MSFT US, +2.81%). 


The Dow Jones Industrial Average gained 564.69 pts, or 1.65%, to close at 34,725.47. The S&P 500 index rose 2.43%. For the week, the S&P 500 rose 0.77%. Meanwhile Nasdaq Composite advanced 3.13%. The small cap Russell 2000 gained 1.93%. 


The 10-year Treasury note yield slipped 3.0 basis points (bps) to 1.7694%. 


Gold extended its biggest weekly loss since Aug. The most actively traded US gold futures (Apr) contracts settled down $7.60, or 0.4%, at US$1,786.60/oz. March silver, which is the most actively traded silver futures, fell 37.5 cents, or 1.7%, to end at US$22.301/oz. 


The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, was barely changed at 97.270. 


The front-month Brent and WTI futures closed up 69 cents at US$90.03/bbl and 21 cents at US$86.82/bbl respectively. Natural gas futures jumped as much as 14% on Fri in New York as a winter storm hit the US Northeast. 


European equity markets finished lower last Fri. The UK FTSE lost 1.17%, France's CAC 40 fell 0.82%, while the German DAX retreated 1.32%. 


Bucking the trend, retailer H&M (HMB SS, +5.05%) rose last Fri, after posting strong margins in 4Q and buyback announcement. 


Feb 1st and 2nd are public holidays in Singapore. There will be no Wealth Daily. 


We wish our readers a very happy Lunar New Year! We all deserve it.