Markets waiting for the US employment data, as investors brace for the Supreme Court ruling on the legality of global tariffs Of the president Donald Trump, which rocked the markets last year. In Asia the price lists are rising and the futures are Wall Street They're flat. Investors turned their backs on tech stocks yesterday in New York, with the Dow Jones closing higher and the Nasdaq falling.
Today's stock market and featured stocks
The main European stock markets opened with cautious progress, with Paris to record the best figure, up 0,45%. Positive sign also for London and Frankfurt remains unchanged on parity.
Sale at the start Milan Stock Exchange: Ftse Eb gained 0,19% to 45.757 points. With oil prices rising, they immediately stood out. Tenaris (+ 2,6%), Saipem (+1,78%) ed Eni (+1,2%). On sale Classic Ferrari for sale (-1,15%) with analysts cutting their target price.
What does the spread do?
Lo spread between BTPs and Bunds update again the lowest since 2008The spread drops below 64 basis points and reaches 63,6 basis points. The yield on the 10-year Italian bond falls to 3,50%.
Investors' eyes on the US job market
Today investors are awaiting the important report on the US labor market, which will be a key input for assessing the likelihood and timing of the potential rate cuts by the FedTraders expect at least two cuts this year and believe central bankers will likely reduce them by their April meeting, although today's jobs report could shift bets in one direction or the other.
More specifically, the report is expected to shed light on how the labor market has remained stuck in a "no hire, no fire" mode. Furthermore, according to the Treasury Secretary, Scott BessentTrump could announce his pick to lead the Fed by the end of the month, after interviewing the last of the four finalists in the running, BlackRock executive Rick Rieder.
Meanwhile, the wait for the ruling of the United States Supreme Court on President Trump's use of emergency tariff powers, which could shake up financial markets, especially if judges were to abolish the dutiesThe event could occur today, but it could also be delayed by a few weeks. In any case, the ruling will determine whether Trump can invoke his emergency powers without Congressional approval.
Why Trump Is Sending Defense Stocks Soaring
The fact that Donald Trump asked for a increase military spending to $1.500 trillion by 2027, significantly higher than the $900 billion approved by Congress for 2026, has sent the stock market soaring. His statements, in fact, have made US weapons-related stocks jump, missiles, drones which on Wall Street have achieved gains of 4,9% for the Rtx, 7,2% for Lockheed Martin, Northrop Grumman +7,5% and Kratos Defense 7,1 percent. According to the Sun 24 Hours, Trump's invitation to the contractors of the company does not seem to have had any impact DEFENSE not to pay dividends and not to approve stock buyback plans until they accelerate weapons production.
Meanwhile, Trump has always affirmed that the estate agents U.S. banks will launch a series of mortgage bond purchases worth $200 billion. The operation aims to lower mortgage rates and house prices, ahead of the midterm elections, in which the president is trying to reverse the affordability crisis that is weighing on his popularity.
Tokyo and China between textiles and inflation
La Tokyo Stock Exchange marks a recovery after the recent declines and ends the session on the rise, supported by the optimistic indications coming from the corporate results of the Fast Retailing, the textile operator who controls the Uniqlo brandDespite a mixed close on the U.S. stock market, with technology stocks on the Nasdaq trading floor falling again, the benchmark Nikkei index rose 1,61% to 51.939,89, a gain of 822 points. On the currency front, the yen lost ground again against the dollar, trading at 157,40, and against the euro, trading at 183,30.
In China, the stock markets closed in positive territory in the wake of the signs of inflation recorded in December: the Composite index of Shanghai rises by 0,92% to 4.120,43 points, while that of Shenzhen grows by 1,34%, up to 2.660,05. Theinflation China's economy recovered ground in December with an annual increase of 0,8%, up from November's 0,7%, but below the previous month's estimate of 0,9%. According to data from the National Bureau of Statistics, this is the strongest growth since February 2023, amid Beijing's efforts to escape the dangerous depths of deflation, primarily due to stagnant consumption. Monthly inflation rose 0,2%, reversing November's decline of 0,1%. Producer prices stood at -1,9% in December (from -2,2% the previous month), marking their 39th consecutive month of decline and the least significant since August 2024.
The numbers, analysts say, indicate that China may be nearing the end of a prolonged deflationary period that has slowed economic growth and limited consumer spending.
Oil is rising: here's why
Le street riots in Iran and the Trump administration's threat to strike the country if it cracks down on protesters, are pushing the Oil prices which was already recovering the losses of the previous days. Texas WTI crude oil thus rose by 0,93%, regaining $58 a barrel (58,3). Brent also advanced (+0,93% to $62,6).
The US president therefore warned Iran of a "harsh" response if Tehran were to cause the deaths of protesters in the large demonstrations of recent days, rekindling concerns about potential supply disruptions from one of OPEC's largest producers.
Traders also digested the news that Senator Lindsey Graham said Trump had approved a bipartisan bill on sanctions on Russia, which affects countries that purchase the crude of Moscow at discounted prices, financing the war in Ukraine. Meanwhile, US stocks in Venezuela remained in the spotlight after Washington seized two oil tankers linked to the country in the Atlantic, one of them flying a Russian flag, highlighting Trump's intensified efforts to control energy flows in the Americas and pressure Venezuela's socialist government.
Oil: Negotiations between Vitol and Trafigura?
But that's not all. In fact, Vitol e Trafigura, two of the world's largest commodity traders, are said to be in talks with the US administration for the transportation and sale of Venezuelan oil, as reported by Reuters, citing four sources familiar with the ongoing discussions. The Russian news agency reported the news. TassAccording to sources, representatives of these European companies will attend a meeting at the White House scheduled for January 9. Major American oil operators have also been invited, it is always known. Reuters.
What does gold do?
International tensions they don't shake the price of gold, a traditional safe haven for investors. The metal, available for immediate delivery, traded at $4473 an ounce, up 0,08%.
Mining Companies and Mega Mergers: Glencore and Rio Tinto
Glencore e Rio Tinto they have resumed talks on a potential mega-merger to create the largest world's largest mining company, nearly a year after previous negotiations between the two global mining companies failed. The potential deal would create a mining giant with an enterprise value of over 260 billion dollars, at a time when the rush for copper is reshaping the sector.
The two groups separately confirmed on Thursday that they were in “preliminary discussions” about a “possible combination of some or all of their businesses, which could include an all-share merger between Rio Tinto and Glencore.” The statements, published shortly after the Financial Times revealed the talks, they also stressed that there was no certainty that a transaction would be agreed.
Rio Tinto, the larger of the two companies with an enterprise value of $162 billion, could potentially acquire Glencore under the currently envisaged deal, the company said. FtRio Tinto's Australian-listed shares opened sharply lower on Friday after the company confirmed talks with Glencore. The stock was down 4,5% on the Australian Securities Exchange.
The recent merger between Anglo American and the Canadian one Teak Resources – a friendly deal struck with no premium – has put rivals such as BHP and Rio Tinto under pressure to strengthen, as miners compete for access to more copper resources.
This week i copper prices reached an all-time high of over $13.300 a tonne, highlighting a market deficit that analysts say could reach 10 million tonnes by 2040.
General Motors predicts loss due to electric vehicles
General Motors announced that he will record a extraordinary loss on earnings of $7,1 billion, due in large part to the scaling back of electric vehicle activities in light of the change in US policies. According to a communication to the regulatory authorities, the Detroit automotive giant's fourth quarter results will be weighed down by 6 billion dollars in charges related to the review and scaling back investments in electric vehicles. The
The remaining $1,1 billion includes costs from the restructuring of the company's operations in China. GM's move follows a $1,6 billion writedown in the third quarter, due to a change of direction on investments in electric vehicles After a sharp reversal of US policies under President Trump, Trump, who considers climate change a hoax, canceled major electric vehicle initiatives promoted by his predecessor, Joe Biden.
GM's profit warning also comes shortly after the announcement of Ford dated December 15, which predicted the company would write down approximately $19,5 billion over several years due to the changing political environment. During the Biden presidency, GM CEO Mary Barra had aggressively invested in building production capacity for electric vehicles. In 2021, the company announced its goal of making its cars and trucks zero-emissions by 2035.
Puma: The Reasons Behind Its Stock Market Rise
Puma It soared on the stock market on Thursday, where it gained 10% in Frankfurt. The stock was brought back into the spotlight by the indiscretion of Reuters according to which the Chinese Anta Sports would have submitted an offer in recent weeks to Artemis, the holding company of Pinault family, to acquire a 29% stake in the athletic footwear brand. Anta has also reportedly secured financing for the deal if an agreement is reached.
