{"id":559072,"date":"2021-01-06T03:45:01","date_gmt":"2021-01-06T03:45:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/06\/what-the-markets-are-doing-on-6-january-2021\/"},"modified":"2021-01-06T03:45:01","modified_gmt":"2021-01-06T03:45:01","slug":"what-the-markets-are-doing-on-6-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/06\/what-the-markets-are-doing-on-6-january-2021\/","title":{"rendered":"What the markets are doing on 6 January 2021"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Optimism for the year ahead reigns supreme on Wall Street<\/strong>, as the world\u2019s biggest banks and investment firms predict broad economic growth this year. <a href=\"https:\/\/www.bloomberg.com\/graphics\/2021-investment-outlooks\/?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> has collected forecasts from 40 investment banks and asset managers on everything from covid and inflation to regulation and the greenback, and buoyancy is underpinning everything as we start the new year.<\/p>\n<p><strong>File this under \u2018Obvious\u2019:<\/strong> The positive sentiment is being driven by the belief that central banks will leave the stimulus taps on for the long-term, according to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-05\/ultra-low-interest-rates-here-to-stay-2021-central-bank-guide?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> quarterly policy review. The piece finds that no major western central bank will raise rates, with the key assumption being that policymakers will need to evaluate the strength of the economy before tightening policy.<\/p>\n<p><strong>Saudi Arabia threw oil traders a curveball yesterday<\/strong> after it announced unexpectedly that it would unilaterally cut production in February and March to support the oil market, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-05\/saudi-arabia-said-to-plan-voluntary-oil-output-cut-in-february?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. The kingdom will reduce output by an additional 1 mn barrels per day as of next month, lifting pressure on smaller producers to do likewise. Finding a way through the demand slump caused by the pandemic has been problematic for the loose \u2018OPEC+\u2019 alliance of exporters, many of whom have been unhappy about cutting their production quotas.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,830<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>8,682<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,143<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,608<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: +4.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,726<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: -0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,612<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 53.66<\/p>\n<\/td>\n<td>\n<p>+5.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.71<\/p>\n<\/td>\n<td>\n<p>+4.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,952.70<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 33,906<\/p>\n<\/td>\n<td>\n<p>+9.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>The EGX30 rose 0.2% yesterday<\/strong> on turnover of EGP 1.4 bn (5.1% above the 90-day average). Local investors were net sellers. The index is down 0.1% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+5.1%), Qalaa Holdings (+4.8%) and Sidi Kerir Petrochemical (+3.3%).<\/p>\n<p><strong>In the red: <\/strong>Egypt Kuwait Holding (-3.7%), CIRA (-3.0%) and Edita (-2.0%).<\/p>\n<p><strong>Asian markets were mixed early this morning as traders awaited results from the US Senate run-off election. <\/strong>Futures have US markets falling in early trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Optimism for the year ahead reigns supreme on Wall Street, as the world\u2019s biggest banks and investment firms predict broad economic growth this year. Bloomberg has collected forecasts from 40 investment banks and asset managers on everything from covid and inflation to regulation and the greenback, and buoyancy is underpinning everything as we start the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[107,68,72,164,119,128,527,122,219,897],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559072","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-covid-19","tag-egx","tag-enterpriseam","tag-equities","tag-financial-markets","tag-opec","tag-pandemic","tag-planet-finance","tag-saudi-arabia","tag-wall-street","wpautop","entry"],"acf":{"mongo_id":"b06d1fa0-fc75-4ff4-9b4c-3faed9eaaf83","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559046],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What the markets are doing on 6 January 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/06\/what-the-markets-are-doing-on-6-january-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the markets are doing on 6 January 2021\" \/>\n<meta property=\"og:description\" content=\"Optimism for the year ahead reigns supreme on Wall Street, as the world\u2019s biggest banks and investment firms predict broad economic growth this year. 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Though BoA\u2019s net income plunged 12%\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568193,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/what-the-markets-are-doing-on-21-december-2020\/","url_meta":{"origin":559072,"position":1},"title":"What the markets are doing on 21 December 2020","author":"enterpriseam admin","date":"21 December 2020","format":false,"excerpt":"Predicting market movements in 2021 may prove to be as difficult as it was this year as the pandemic \u2014 and the fiscal and monetary responses \u2014 continue to distort markets, the Wall Street Journal says. The main takeaway here: Take each and every forecast with a handful of salt.\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559501,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/24\/what-the-markets-are-doing-on-24-january-2021\/","url_meta":{"origin":559072,"position":2},"title":"What the markets are doing on 24 January 2021","author":"enterpriseam admin","date":"24 January 2021","format":false,"excerpt":"It\u2019s earnings week in the US of A with Apple, Microsoft and Tesla all set to make announcements alongside more than a fifth of the S&P 500, the Wall Street Journal notes. Boeing and McDonald\u2019s will also announce results, \u201cshedding more light on how businesses performed at the end of\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":612136,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/green-finance-could-be-in-trouble\/","url_meta":{"origin":559072,"position":3},"title":"Green finance could be in trouble","author":"enterpriseam admin","date":"18 December 2023","format":false,"excerpt":"New capital requirements on Wall Street will rock the green finance boat: Basel 3 Endgame \u2014 the final stage of regulations imposed in the US after the 2008 financial crisis \u2014 is expected to significantly affect Wall Street\u2019s biggest banks\u2019 ability to finance green projects, Bloomberg wrote. The regulations will\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556239,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/17\/wall-street-banks-report-stellar-3q2021-earnings-diverge-on-investment-strategies\/","url_meta":{"origin":559072,"position":4},"title":"Wall street banks report stellar 3Q2021 earnings, diverge on investment strategies","author":"enterpriseam admin","date":"17 October 2021","format":false,"excerpt":"Wall Street sails through global headwinds to post blockbuster 3Q2021 earnings: Goldman Sachs looks set to post its best year ever after reporting a 59% yearly increase in earnings to hit USD 5.4 bn in the third quarter, rounding off a week of stunning results from US investment banks, the\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549962,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/09\/planet-finance-central-banks-are-stuffing-their-mattresses-with-usds\/","url_meta":{"origin":559072,"position":5},"title":"Planet Finance: Central banks are stuffing their mattresses with USDs","author":"enterpriseam admin","date":"9 October 2022","format":false,"excerpt":"Central banks everywhere are stocking up on USD as they prepare to prop up their currencies: Central banks are letting go of their US Treasuries in favor of cold hard cash that could be deployed to boost their local currencies if necessary, Bloomberg reports. Central banks sold a combined USD\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559072"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559072\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559046"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559072"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559072"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}