Market in Review 25/1/2024

MARKET REPORT

Review:
– Crude up 3% ($77.25) on stronger US GDP (higher expected demand on economic growth) combined with decline in crude stocks
– S&P notches 5th straight record day
– Tesla down 12%, worst day since 2020
– US GDP +3.3% vs 2% Forecast (Hawish)
– PCE (Q4) 2% in line (Dovish)
– Jobless 214K, slightly higher.
– ECB leave rates UNCH (as Exp) 4.5%
– Lagarde dovishly perceived
– Treasuries, Dollar & Crude up.