Nasdaq
Nasdaq 100 set for a positive start as the futures contracts are 0.50% higher st 9152. Strong earnings report from Apple increased the risk appetite for stocks. Apple will boost Dow Jones and S&P 500 higher as it is one of the main components for both indices. Meanwhile first estimates of the Chinese GDP coming as the coronavirus continue to spread around the country. The Chinese government now estimates the GDP growth for the first quarter that might dip below 5%. The China’s government economists predict that the virus outbreak will peak by mid-February and end by the end of March.
The S&P 500 futures are 0.25% higher at 3286. The Dow Jones futures are 0.42% higher at 28832. Traders will focus on Fed decision later today that might provide further clues on the state of the economy and the future rate path.
European indices are trading cautiously higher on midday. FTSE 100 is 0.17 higher at 7,493. Investors focus will be on the Bank Of England policy meeting tomorrow. The DAX Index is 0.19% higher at 13,349. The CAC 40 is 0.47% higher at 5,953 while the FTSE MIB is 0.55% higher at 24,159.
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Cryptocurrencies rally stopped today as investors are booking some profits. Bitcoin price digest recent highs as bulls are in control above $9,000. Ripple price (XRPUSD) is 1.17% lower at 0.2363. Ethereum (ETHUSD) on the other hand is 0.06% higher at 175.90. LTCUSD is 0.25% lower at 60.47.
Gold consolidates at 1569 as the risk appetite has returned to markets. Today the gold price is 0.13% higher at $1,568. Silver on the other hand continues the correction and is 0.12% higher at $17.42. Crude oil price rebound continues for the second day adding 0.32% at 53.64, while the Brent crude oil is 0.49% higher at $59.10.
In forex markets, the EURUSD broke below the 1.10 mark ahead of the Fed decision. GBPUSD is also under pressure amid USD strength across the board. The Aussie dollar is 0.29% lower against the US Dollar at 0.6757. NZDUSD is also under pressure, it gives up 0.51% at 0.6512.