The US authorities filed a lawsuit against Facebook - what are the implications?
Asian equities rebound from one-month maximum
On Friday, Asian equities rebounded from a one-month maximum because the Fed seemed to be braced for another interest rate lift in December, paring profits made earlier this week after American midterm elections provoked a global stock ascend.
Spreadbetters actually expected European equities to follow Asia's lead and start lower. Britain's FTSE went down by 0.45%. The DAX lost 0.3% in Germany, while the CAC dived by 0.15% in France.
MSCI's index of Asia-Pacific equities inched down by 1.3% and it was headed for a 1% tumble for the week. The index reached its highest value since October 8 on Thursday.
The Hang Seng index went down by 2.4% in Hong Kong, while the Shanghai Composite Index headed south by 1.2%.
Besides this, Australian equities went down by 0.1%. In South Korea, the KOSPI index slumped by 0.05%, while Japan's Nikkei decreased by 1.05%.
On Thursday, the key US bank left interest rates on hold, although staying on track to keep gradually lifting borrowing costs, indicating good economic prospects, which were marred only by a sink in the surge of business investment.
This year, the Fed has raised American interest rates up to three times. What’s more, it’s generally anticipated to do so once again in December.
As a matter of fact, the S&P 500 went down by 0.25%, while the Nasdaq decreased by 0.53% following the Fed’s remark. As for energy equities, they appeared to be the biggest drag on the S&P because American crude dived.
American equities spiked midweek reacting to American midterm elections.
Meanwhile, the evergreen buck stood tall having rallied versus its rivals overnight, backed by higher Treasury yields as well as the Fed's intention to keep tightening its monetary policy.
The evergreen buck hit 113.925 having reached a five-week maximum of 114.09 overnight.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.