Morning Bid: Deals and delays

By Mike Dolan

Feb 3 -

What matters successful U.S. and planetary markets today

By Mike Dolan, Editor-At-Large, Finance and Markets

Amid the melodramatic twists and turns of the twelvemonth truthful far, U.S. manufacturing seems to person rebounded sharply - with ISM survey showing mill enactment expanding successful January for the archetypal clip ​in a year.

That’s definite to propulsion different curve shot into the macro and involvement complaint picture, keeping a lid connected Fed easing expectations.

I'll get ‌into each that and much below.

But first, cheque retired my latest file connected wherefore we should each beryllium focusing connected the dollar hazard premium.

And perceive to the latest occurrence of the Morning Bid regular podcast. ‌Subscribe to perceive Reuters journalists sermon the biggest quality successful markets and concern 7 days a week.

DEALS AND DELAYS

Equities were unfazed connected Monday by the caller commodities selloff arsenic the already upbeat net play continued, with each large Wall Street indexes successful the green. The S&P 500 closed higher, led by tech and AI companies, with Alphabet up 1.9% and Amazon up 1.5%. Both companies are acceptable to study aboriginal this week, connected Wednesday and Thursday, respectively.

European equities followed suit, with the pan-European STOXX 600 closing 1% higher, notching a ⁠new grounds high, acknowledgment to beardown gains successful fiscal and healthcare ‌stocks.

In tech news, Elon Musk announced Monday that SpaceX has acquired his AI startup xAI. The ambitious tie-up consolidates Musk’s abstraction and AI ambitions and could boost SpaceX’s planned enlargement into the information halfway concern arsenic it seeks to vie with AI heavyweights.

Investors volition get a further ‍taste of however the AI system is faring erstwhile AMD and Supermicro Computer study today, alongside updates from user and pharma names including PepsiCo and Pfizer.

But they volition person to hold longer for the JOLTS information primitively slated for today, acknowledgment to the partial authorities shutdown that began past Friday. January’s employment report, primitively owed Friday, volition besides beryllium delayed until authorities backing resumes. Happily, the ​shutdown is apt to beryllium brief, with lawmakers expected to ballot contiguous connected authorities to extremity it.

In commodities, volatile precious metals seemed to find their level connected Tuesday aft the ‌withering shakeout of caller days, with golden surging much than 5%, putting it connected way for its biggest one-day summation since 2008. Despite the caller selloff, analysts accidental the precious metals bull tally inactive has plentifulness of abstraction to continue.

Oil continued to borderline down connected Tuesday arsenic the geopolitical hazard premium dissipated, owed to the anticipation of de-escalation successful U.S.-Iran tensions. The 2 sides are gearing up for atomic talks successful Turkey connected Friday. Oil fell much than 4% connected Monday.