On one of the rare days when real economic news is all favourable, Asian markets have started the week strongly: the MSCI Asia Pacific regional index is up 0,9%, and prices are at for 18 months.
With Wall Street closing on Friday, US stocks are close to all-time highs, both for the Dow and the S&P 500, and prices are confirmed by earnings. For both the S&P500 and Asian-listed companies, fourth-quarter earnings – at least those reported so far – saw a large majority of positive surprises compared to analysts' estimates.
And in China, the service sector PMI rose again, to the level of 56,2. In the currency field, the weak yen (92,6) and the strong euro (1,363) confirm the trends already evident last week. Gold does not shake off the 1650-1700 window in which it has been trapped for some time, and WTI oil, at 97,5 $/b, could go higher.
