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BANK OF JAPAN EXPANDS YIELD TARGET BAND



The Bank of Japan left its key interest rate unchanged and expanded its 10-year Japanese government bond yield target band on Tuesday.

The policy board of the BoJ unanimously decided to maintain a negative interest rate of -0.1 percent on current accounts that financial institutions maintain at the central bank.

The bank will also continue to purchase a necessary amount of JGBs without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

However, they decided to expand the range of 10-year JGB yield fluctuations to around plus and minus 0.5 percentage points from around plus and minus 0.25 percentage points. The bank said it is willing to take additional easing measures, if needed.

The bank also expects short and long-term policy interest rates to remain at their current or lower levels.

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EUROPEAN ECONOMICS NEWS PREVIEW: UK PUBLIC SECTOR FINANCE DATA DUE



Public sector finances from the UK and consumer sentiment survey results from Germany are the top economic news due on Wednesday.

At 2.00 am ET, the Office for National Statistics releases UK public sector finances data for November. Excluding banks, the budget deficit is seen falling to GBP 13 billion from GBP 13.5 billion in October.

In the meantime, the market research group GfK publishes consumer sentiment survey results. The forward-looking consumer sentiment index is forecast to fall to -38 in January from -40.2 in December.

At 3.00 am ET, the National Institute of Economic Research is slated to issue Sweden economic tendency survey results.

At 4.00 am ET, retail sales figures are due from Poland. Sales are forecast to grow 0.3 percent annually in November, slower than the 0.7 percent rise in October.

At 6.00 am ET, the Confederation of British Industry publishes Distributive Trades survey results. The retail sales balance is forecast to fall to -23 percent in December from -19 percent in November.

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EUROPEAN ECONOMICS NEWS PREVIEW: UK REVISED GDP DATA DUE



Quarterly national accounts data from the UK is the top economic news due on Thursday.

At 2.00 am ET, the Office for National Statistics releases UK final GDP data for the third quarter. The preliminary estimates showed that the economy contracted 0.2 percent sequentially, offsetting the 0.2 percent increase a quarter ago. The statistical office is set to confirm the preliminary estimate.

In the meantime, Statistics Sweden is set to publish producer prices and retail sales for November. Sales had decreased 1.3 percent on month in October.

At 3.00 am ET, final foreign trade data is due from Hungary.

At 4.00 am ET, Italy's Istat is scheduled to issue industrial turnover data for October. Sales had declined 1.2 percent on month in September.

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SINGAPORE INDUSTRIAL OUTPUT CONTRACTS FURTHER



Singapore's industrial production declined for the second straight month in November, and at a faster-than-expected pace, data from the Economic Development Board revealed on Friday.

Industrial production dropped 3.2 percent year-on-year in November, faster than the 0.9 percent fall in October. Economists had expected a fall of 1.1 percent.

Excluding biomedical manufacturing, industrial production decreased 4.8 percent annually in November, reversing a 2.2 percent gain in the previous month.

On a monthly basis, industrial production decreased 1.2 percent in November, reversing a 0.6 percent increase in the prior month.

Among major clusters, electronics output plunged 12.4 percent in November, and the chemical cluster logged a decline in output of 11.3 percent.

Meanwhile, transport engineering output advanced 18.8 percent yearly in November, and that of general manufacturing also showed a double-digit growth of 10.3 percent.

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US stocks closed higher, Dow Jones up 0.53%



At the close of the New York Stock Exchange, the Dow Jones rose 0.53%, the S&P 500 rose 0.59%, and the NASDAQ Composite rose 0.21%.

Chevron Corp was the top performer among the components of the Dow Jones index today, up 5.32 points or 3.09% to close at 177.40. The Walt Disney Company rose 1.34 points or 1.55% to close at 88.01. The Travelers Companies Inc rose 2.28 points or 1.22% to close at 189.48.

The least gainers were 3M Company, which shed 1.45 points or 1.19% to end the session at 120.14. Amgen Inc was up 1.34 points (0.51%) to close at 263.92, while Apple Inc was down 0.37 points (0.28%) to close at 131.86. .

The leading gainers among the S&P 500 index components in today's trading were APA Corporation, which rose 5.73% to 47.25, CarMax Inc, which gained 5.17% to close at 60.16, and Hess Corporation, which rose 4.72% to end the session at 141.68.

The least gainers were Moderna Inc, which shed 4.44% to close at 199.08. Shares of Illumina Inc lost 2.32% to end the session at 191.24. Quotes of DexCom Inc decreased in price by 1.97% to 111.44.

Leading gainers among the components of the NASDAQ Composite in today's trading were Expion360 Inc, which rose 139.19% to hit 2.35, Akso Health Group DRC, which gained 1.57% to close at 0.40, and also shares of Elys Game Technology Corp, which rose 47.09% to end the session at 0.17.

The least gainers were Applied Molecular Transport Inc, which shed 57.77% to close at 0.44. E-Home Household Service Holdings Ltd lost 52.59% to end the session at 0.64. Quotes Mingzhu Logistics Holdings Ltd fell in price by 50.84% to 1.75.

On the New York Stock Exchange, the number of securities that rose in price (2099) exceeded the number of those that closed in the red (959), while quotes of 96 shares remained virtually unchanged. On the NASDAQ stock exchange, 1909 companies rose in price, 1754 fell, and 216 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 5.01% to 20.87.

Gold futures for February delivery added 0.57%, or 10.20, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 2.80%, or 2.17, to $79.66 a barrel. Futures for Brent crude for February delivery rose 4.40%, or 3.56, to $84.54 a barrel.

Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.23% to 1.06, while USD/JPY was up 0.38% to hit 132.84.

Futures on the USD index fell 0.12% to 104.01.

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US stock market closed mixed, Dow Jones up 0.11%



At the close on the New York Stock Exchange, the Dow Jones rose 0.11%, the S&P 500 index fell 0.41% and the NASDAQ Composite fell 1.38%.

The gainers among Dow Jones index components in today's trading were shares of Verizon Communications Inc. which gained 0.84p (2.19%) to close at 39.25. Caterpillar Inc. gained 3.27p (1.36%) to close at 243.14. Chevron Corp. gained 2.23 pct (1.26%) to close at 179.63.

Shares of the Walt Disney Company were the least gainers, with their price dropping 1.64p (1.86%), ending the session at 86.37. Shares of Apple Inc soared 1.83p (1.39%) to close at 130.03, Goldman Sachs Group Inc dropped 3.54p (1.02%) and closed the session at 341.97.

The top gainers among the S&P 500 index components in today's trading were shares of Wynn Resorts Limited, which gained 4.47% to 84.33, VF Corporation, which gained 4.18% to close at 27.16, and Las Vegas Sands Corp, which gained 4.17% to close the session at 48.46.

Shares of Tesla Inc were the least gainers, down 11.41% to close at 109.10. Moderna Inc shares lost 9.50% and closed the session at 180.17. NVIDIA Corporation shares were down 7.14% to 141.21.

The top gainers among NASDAQ Composite index components in today's trading were shares of Elys Game Technology Corp, which gained 111.91% to 0.37, Lightjump Acquisition Corp, which gained 100.00% to close at 19.00, and shares of Quotient Ltd, which gained 94.74% to close the session at 0.37.

The least gainers were shares of Tuesday Morning Corp, which fell 46.12% to close at 0.83. Shares of Mingzhu Logistics Holdings Ltd lost 44.57% and closed the session at 0.97. Lion Group Holding Ltd. was down 36.45 percent to 0.68.

On NYSE the number of securities, which fell in price (1697) exceeded the number of securities, which closed on the plus side (1401). On NASDAQ, 2,517 stocks were down, 1,251 were up, and 139 remained flat.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.74% to 21.65.

Gold futures for February delivery added 0.98%, or 17.65, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 0.16%, or 0.13, to $79.69 a barrel. Futures for Brent crude for March delivery rose 0.43%, or 0.36, to $84.86 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.05% to 1.06, while USD/JPY was up 0.49% to hit 133.51.

Futures on the USD index fell 0.12% to 103.89.

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SOUTH KOREA INDUSTRIAL PRODUCTION CLIMBS 0.4% IN NOVEMBER



Industrial output in South Korea rose a seasonally adjusted 0.4 percent on month in November, Statistics Korea said on Thursday.

That beat forecasts for a decline of 0.8 percent following the 3.5 percent contraction in October.

On a yearly basis, industrial output sank 3.7 percent - also topping expectations for a drop of 4.0 percent following the downwardly revised 1.2 percent contraction in the previous month (originally -1.1 percent).

The index of all industry production was up 0.1 percent on month and 0.6 percent on year in November.

The Manufacturing Production Index added 0.5 percent on month but fell 3.8 percent on year. The Manufacturing Shipment Index lost 2.4 percent on month and 4.2 percent on year. The Manufacturing Inventory Index increased by 1.4 percent on month and 6.1 percent on year.

The Production Capacity Index was flat on month and down 0.8 percent on year. The Index of Capacity Utilization Rate rose 0.9 percent on month but shed 2.5 percent on year. The Manufacturing Average Capacity Utilization Rate was 73.1 percent, up 0.6 percentage points from the previous month.

The Index of Services fell 0.6 percent on month but climbed 2.6 percent on year. The Retail Sales Index sank 1.8 percent on month and 2.2 percent on year.

The Equipment Investment Index added 1.0 percent on month and 11.0 percent on year. The Domestic Machinery Shipment Index surged an annual 10.9 percent. The value of Domestic Machinery Orders Received soared 15.3 percent on year. The value of Construction Completed at constant prices increased by 1.4 percent on month and 10.2 percent on year.

The value of Construction Orders Received at current prices tumbled 11.1 percent on year.

The Composite Coincident Index eased 0.5 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.7 points from the previous month.

The Composite Leading Index rose 0.1 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, dipped 0.2 points from the previous month.

Also on Thursday, Statistics Korea said that the value of retail sales in South Korea was down a seasonally adjusted 1.8 percent on month in November.

That missed expectations for a decline of 1.0 percent following the 0.2 percent contraction in October.

On a yearly basis, retail sales were down 2.2 percent - again missing forecasts for a decline of 1.5 percent following the 0.7 percent drop in the previous month.

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SOUTH KOREA INFLATION STEADY AT 5.0%



South Korea's consumer price inflation remained unchanged in December, figures from Statistics Korea showed on Friday.

Consumer prices rose 5.0 percent year-on-year in December, same as seen in November. This was in line with economists' expectations.

Excluding food and energy, core consumer prices rose 4.1 percent annually in December, after a 4.3 percent increase in the previous month.

On a monthly basis, consumer prices increased 0.2 percent in December, following a 0.1 percent drop in November.

Compared to the previous month, the core CPI remained unchanged at 0.3 percent in December.

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USD/JPY: the dollar has lost control



At the beginning of the new year, the USD/JPY pair is still in a bearish trend. Every day the quote is going deeper to the south, hitting one after another multi-month lows. However, analysts believe it is still far from the bottom. This morning, the dollar-yen asset showed another resounding drop. The major lost about 160 points in just a couple of hours, bringing it to its lowest level since June at 129.79. The sharp drop to the 6-month low was due to growing expectations regarding the possible pivot of the Bank of Japan.



Another surge of speculation on the subject came after Japan's Nikkei reported Saturday that the BOJ might revise its inflation forecast upward in January.

If the BOJ does indeed raise its consumer price growth forecast for 2023, it would further bolster traders' view that the central bank may soon be on a hawkish track.

Recall that the BOJ is the only major central bank in the world that still maintains an ultra-loose policy and keeps interest rates ultra-low.

In contrast to the BOJ, last year the US Federal Reserve took a sharp course towards tightening. This led to strong monetary divergence between the central banks, which weighed heavily on the JPY.

In October 2022, the JPY fell against the dollar to a 32-year low of 151.95. However, since then the Japanese currency has strengthened against its U.S. counterpart by more than 16%.

In November, USD/JPY was down 8.5% as traders had concerns about the slowdown in interest rate hikes in the US.

Last month, the yen gained more than 5% against the dollar. The main driver of its growth was the BOJ's surprise tweak to its bond yield control.

The BOJ's decision to allow 10-year bond yields to fluctuate by plus or minus 0.5 percentage points of its 0% target level was acknowledged by the market as the central bank's first step towards its monetary-policy normalization.

As we can see, now the fundamental picture, which favored the dollar's growth in 2022, is starting to change gradually in favor of the yen.

The Fed has already slowed the pace of its tightening, when it delivered a smaller rate hike of just 50 bps in December following four straight 75 bps hikes. At this stage, most traders tend to further reduce the degree of aggressiveness.

Meanwhile, the market is expecting hawkish actions from the BOJ. Many investors believe that BOJ will abandon its soft course in the second quarter of the year, after the current head of the central bank Haruhiko Kuroda will leave his post in April.

"I would expect an end to negative rates by April. This further removes obstacles for the yen to strengthen more," said Rajeev De Mello, a global macro portfolio manager at GAMA Asset Management.

According to the expert, at the moment the Japanese currency is significantly undervalued compared to its fair levels, which indicates its high growth potential.

Recall that recently former Japanese Vice-Minister of Finance Eisuke Sakakibara, known as "Mr. Yen", said in an interview last month that the yen may appreciate to 120 per dollar this year.

Generali Investments and Jupiter Investment Management have also flagged the same level as the next potential bearish target.

As for the near-term outlook, this week the quote is likely to keep its downtrend, unless, of course, the dollar bulls get some super-powerful trigger.

One of the catalysts for the pair may be tomorrow's release of the minutes of the Fed's December meeting. Traders hope the FOMC minutes will shed light on the future trajectory of interest rates in the US.

If the market views the Fed's rhetoric as hawkish, it will help the dollar recover its recent losses against the yen. Otherwise, the USD/JPY pair risks to collapse even more.

Also, this week investors will focus on the US jobs report, which will be released on Friday.

Positive data might push up the dollar in all directions, including the USD/JPY pair, whereas negative data will push the greenback even higher, which will raise the demand for the yen.

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OIL FUTURES SETTLE SHARPLY LOWER ON RECESSION FEARS



Oil prices fell on Wednesday, extending recent losses, as worries about energy demand amid rising fears of a global recession continued to weigh on the commodity.

West Texas Intermediate Crude oil futures for February ended down $4.09 or about 5.3% at $72.84 a barrel, the lowest settlement in more than three weeks.

Brent crude futures were down $4.10 or almost 5% at $78.00 a barrel a little while ago.

China's decision to increase export of refined oil products has fueled concerns of weaker demand in the country.

Meanwhile, Japan has announced that it would tighten borders controls for travelers from China, in response to a surge in Covid cases among visitors.

Traders also took note of comments from former New York Federal Reserve President William Dudley, who said a recession in the U.S. is likely because of what the Fed has to do.

Traders are looking ahead to weekly inventory reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The API's report is due later today, while EIA's inventory data will be out Thursday morning.

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CHINA SERVICES ACTIVITY LOGS FOURTH CONSECUTIVE CONTRACTION



China's service sector shrank for the fourth consecutive month in December as the ongoing measures to contain the Covid-19 disrupted operations and hampered demand.

At 48.0, the Caixin services Purchasing Managers' Index rose from a six-month low of 46.7 in November, survey results from S&P Global showed Thursday. But a reading below 50.0 suggests the sector remains in the contraction zone.

The Covid-19 containment measures, including temporary business closures dampened production.

Further, due to pandemic related restrictions, outstanding business increased for the fifth consecutive month as firms were unable to work through backlogs of work.

Cost reduction policies together with voluntary leavers drove another fall in service sector employment. The pace of job shedding was quicker than seen on average in 2022.

On the price front, the survey showed that input cost inflation slowed to a six-month low. Consequently, firms raised their own charges at the softest pace since August. Another reason for the easing in output price inflation was stiff competition.

Optimism among service providers was the strongest since July 2021. Companies that foresee higher output expect the pandemic situation to improve, restrictions to ease, and operations and demand to recover.

The overall private sector that combines manufacturing and services shrank for the fourth straight month in December. But the rate of contraction eased with softer falls in output across manufacturing and services.

The composite output index picked up to 48.3 in December from 47.0 in November.

Infections are expected to explode in the short run, which will disrupt production and everyday life, Wang Zhe, a senior economist at Caixin Insight Group said. "How to effectively coordinate Covid controls with economic and social development has once again become a crucial question."

In order to prop up domestic consumption, various policies are needed that work in tandem with stabilizing the job market and effectively increasing the disposable incomes of residents, said Zhe.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FACTORY ORDERS, RETAIL SALES DATA DUE



Factory orders and retail sales from Germany and flash consumer prices, retail sales and economic confidence from the euro area are the top economic news due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to release Germany's manufacturing orders and retail sales figures for November. Economists forecast factory orders to fall 0.5 percent on month, reversing a 0.8 percent rise in October. Similarly, retail sales are seen rising 1.0 percent after falling 2.8 percent a month ago. In the meantime, UK Halifax house price data is due for December. Also, industrial output data is due from Statistics Norway.

At 2.45 am ET, France's Insee publishes consumer spending data for November. Economists forecast consumer spending to grow 1.0 percent month-on-month, in contrast to the 2.8 percent fall in October. At 3.00 am ET, the Czech Statistical Office is set to issue industrial and construction output and foreign trade reports.

At 4.30 am ET, UK S&P/CIPS construction Purchasing Managers' survey results are due. The construction index is expected to fall to 49.6 in December from 50.4 in the prior month.

At 5.00 am ET, Eurozone flash inflation, retail sales and economic confidence are due. Inflation is seen easing to 9.7 percent in December from 10.1 percent in November. Economists expect retail sales to grow 0.5 percent on month, reversing a 1.8 percent fall in October.

The euro area economic confidence index is seen at 94.7 in December versus 93.7 a month ago.

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EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE



Industrial production from Germany and unemployment from the euro area are the top economic news due on Monday.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss unemployment data for December. The jobless rate is forecast to rise to 2.1 percent from 2.0 percent in November.

At 2.00 am ET, Destatis is set to publish Germany industrial production for November. Economists forecast industrial output to grow marginally by 0.1 percent from October, when output was down 0.1 percent.

At 2.45 am ET, foreign trade and current account figures are due. The trade deficit is seen narrowing to EUR 11.3 billion in November from EUR 12.2 billion in October.

At 4.00 am ET, Italy's Istat publishes unemployment data for November. Economists expect the jobless rate to remain unchanged at 7.8 percent.

Half an hour later, Eurozone Sentix investor confidence survey results are due. The investor sentiment index is forecast to rise to -18.0 in January from -21.0 in December.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment for November. The jobless rate is seen unchanged at 6.5 percent.

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US stock market closed mixed, Dow Jones down 0.34%



On Thursday this week, investors will be waiting for the publication of data on consumer prices in the US. Analysts believe that annual inflation in the country slowed down to 6.5% in December from 7.1% per annum recorded in November.

The statistics may give traders a hint as to what to do next with the US Federal Reserve, whose next two-day meeting will take place on January 31 and February 1. About 77% of analysts expect the regulator's discount rate to increase by 25 basis points to 4.5-4.75%.

In addition, as early as this Friday, the largest US banks will report on their financial results for the previous year.

At the close on the New York Stock Exchange, the Dow Jones fell 0.34%, the S&P 500 index fell 0.08%, the NASDAQ Composite index rose 0.63%.

The leading performer among the Dow Jones index components today was Salesforce Inc, which gained 6.59 points or 4.69% to close at 147.10. Quotes of Intel Corporation rose by 0.58 points (2.02%), closing trading at 29.31. Goldman Sachs Group Inc rose 4.92 points or 1.41% to close at 353.00.

The least gainers were Merck & Company Inc, which shed 4.46 points or 3.88% to end the session at 110.38. Johnson & Johnson rose 2.59% or 4.67 points to close at 175.58 while The Travelers Companies Inc shed 2.45% or 4.75 points to close at 189.12.

Leading gainers among the components of the S&P 500 in today's trading were Tesla Inc, which rose 5.93% to 119.77, Norwegian Cruise Line Holdings Ltd, which gained 5.90% to close at 13.81. as well as shares of NVIDIA Corporation, which rose 5.18% to close the session at 156.28.

The least gainers were Baxter International Inc, which shed 7.74% to close at 44.70. Shares of Regeneron Pharmaceuticals Inc shed 7.69% to end the session at 680.49. Quotes of Northrop Grumman Corporation decreased in price by 4.99% to 495.41.

The leading gainers among the components of the NASDAQ Composite in today's trading were CinCor Pharma Inc, which rose 143.97% to 28.74, Amryt Pharma Holdings Ltd, which gained 107.29% to close at 14.51. as well as Albireo Pharma Inc, which rose 92.16% to end the session at 43.85.

The least gainers were shares of Calithera Biosciences Inc, which shed 81.77% to close at 0.66. Shares of Peak Bio Inc shed 27.27% to end the session at 2.56. Quotes of Cerus Corporation decreased in price by 28.04% to 2.72.

On the New York Stock Exchange, the number of securities that rose in price (1868) exceeded the number of those that closed in the red (1202), while quotes of 102 shares remained practically unchanged. On the NASDAQ stock exchange, 2192 companies rose in price, 1561 fell, and 172 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.98% to 21.97.

Gold futures for February delivery added 0.33%, or 6.10, to hit $1.00 a troy ounce. In other commodities, WTI crude futures for February delivery rose 1.42%, or 1.05, to $74.82 a barrel. Futures for Brent crude for March delivery rose 1.46%, or 1.15, to $79.72 a barrel.

Meanwhile, in the Forex market, EUR/USD rose 0.82% to 1.07, while USD/JPY shed 0.19% to hit 131.82.

Futures on the USD index fell 0.68% to 102.94.

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JAPAN LEADING INDEX AT 23-MONTH LOW



Japan's leading index decreased in November to the lowest level in nearly two years, preliminary figures of a survey by the Cabinet Office showed on Wednesday.

The leading index, which measures future economic activity, dropped to 97.6 in November from 98.6 in the previous month.

Further, this was the lowest score since December 2020, when it was 96.5.

The coincident index, which measures the current economic situation, also weakened to a 6-month low of 99.1 in November from 99.6 in the previous month.

At the same time, the lagging index improved to 100.9 in November from 99.2 in the preceding month.

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CHINA CONSUMER PRICES UNCHANGED IN DECEMBER



Consumer prices in China were flat on month in December, the National Bureau of Statistics said on Thursday.

That beat expectations for a decline of 0.1 percent following the 0.2 percent drop in November.

On a yearly basis, inflation rose 1.8 percent - in line with expectations and up from 1.6 percent in the previous month.

The bureau also said that producer prices sank 0.7 percent on year versus expectations for a fall 0.1 percent after slipping 1.3 percent a month earlier.

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US stocks closed higher, Dow Jones up 0.64%



At the close on the New York Stock Exchange, the Dow Jones rose 0.64% to hit a monthly high, the S&P 500 index rose 0.34%, the NASDAQ Composite index rose 0.64%.

The leading performer among the components of the Dow Jones index today was Walt Disney Company, which gained 3.48 points or 3.61% to close at 99.81. Salesforce Inc rose 4.70 points or 3.24% to close at 149.60. Boeing Co rose 6.29 points or 3.02% to close at 214.32.

Shares of Coca-Cola Co were the leaders of the fall, the price of which fell by 0.80 points (1.29%), ending the session at 61.21. Walgreens Boots Alliance Inc was up 1.24% or 0.46 points to close at 36.66, while Walmart Inc was down 0.90% or 1.32 points to close at 144. .81.

The top gainers among the S&P 500 index components in today's trading were American Airlines Group, which gained 9.71% to 16.83, United Airlines Holdings Inc, which gained 7.52% to close at 51.30, and Cognizant Technology Solutions Corp Class A shares, which gained 5.85% to close the session at 65.10.

The least gainers were Charles River Laboratories, which shed 5.95% to close at 232.25. Bio-Techne Corp lost 5.14% to end the session at 82.17. Quotes of Illumina Inc decreased in price by 5.05% to 193.75.

Leading gainers among the components of the NASDAQ Composite in today's trading were Arrival Vault USA Inc, which rose 100.00% to hit 0.54, Akerna Corp, which gained 66.67% to close at 1.65, and also shares of Moxian Inc, which rose by 73.32%, ending the session at around 1.04.

The leading gainers were Oramed Pharmaceuticals Inc, which shed 76.46% to close at 2.54. Atlis Motor Vehicles Inc lost 35.32% to end the session at 6.52. Quotes of Universe Pharmaceuticals Inc decreased in price by 25.30% to 0.90.

On the New York Stock Exchange, the number of securities that rose in price (2353) exceeded the number of those that closed in the red (733), while quotes of 91 shares remained virtually unchanged. On the NASDAQ stock exchange, 2633 companies rose in price, 1063 fell, and 181 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 10.72% to 18.83, hitting a new 6-month low.

Gold futures for February delivery added 1.17%, or 22.05, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 1.20%, or 0.93, to $78.34 a barrel. Futures for Brent crude for March delivery rose 1.50%, or 1.24, to $83.91 a barrel.

Meanwhile, in the Forex market, EUR/USD rose 0.91% to 1.09, while USD/JPY shed 2.43% to hit 129.24.

Futures on the USD index fell 0.94% to 101.96.

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US stocks closed higher, Dow Jones up 0.33%



Also on Friday, the largest US banks published their financial results for the fourth quarter and all of last year. The net profit of all four banking giants decreased in 2022. In this regard, shares of Wells Fargo are depreciating by 3.8%, Bank of America - by 2.8%, JP Morgan - by 1.3%, Citigroup - by 0.8%.

At the close in the New York Stock Exchange, the Dow Jones rose 0.33% to hit a monthly high, the S&P 500 index rose 0.40%, the NASDAQ Composite index rose 0.71%.

The leading performer among the components of the Dow Jones index today was JPMorgan Chase & Co, which gained 3.52 points or 2.52% to close at 143.01. Quotes of Caterpillar Inc rose by 3.39 points (1.33%), closing the session at 258.46. Apple Inc rose 1.33 points or 1.00% to close at 134.74.

The least gainers were UnitedHealth Group Incorporated (NYSE:UNH), which shed 6.10 points or 1.23% to end the session at 489.57. Shares of Intel Corporation rose 0.18 points (0.59%) to close at 30.11, while Walt Disney Company shed 0.41 points (0.41%) to close at 99. 40.

Leading gainers among the components of the S&P 500 in today's trading were Illumina Inc, which rose 3.80% to 201.11, Wells Fargo & Company, which gained 3.25% to close at 44.22, and also shares of Stanley Black & Decker Inc, which rose 3.06% to end the session at 88.91.

The least gainers were Northrop Grumman Corporation, which shed 5.44% to close at 461.43. Shares of Ford Motor Company lost 5.29% to end the session at 12.72. Quotes of General Motors Company decreased in price by 4.75% to 36.51.

Leading gainers among the components of the NASDAQ Composite in today's trading were iPower Inc, which rose 50.42% to hit 0.77, Moxian Inc, which gained 45.21% to close at 1.51, and shares SmileDirectClub Inc, which rose 46.77% to end the session at 0.70.

The least gainers were Catalyst Biosciences Inc, which shed 32.69% to close at 0.26. Shares of Bed Bath & Beyond Inc shed 30.15% to end the session at 3.66. Quotes of AGBA Acquisition Ltd decreased in price by 21.52% to 4.12.

On the New York Stock Exchange, the number of securities that rose in price (1848) exceeded the number of those that closed in the red (1178), while quotes of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 2343 companies rose in price, 1320 fell, and 185 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.55% to 18.35, hitting a new 52-week low.

Gold futures for February delivery added 1.25%, or 23.75, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 2.03%, or 1.59, to $79.98 a barrel. Futures for Brent crude for March delivery rose 1.64%, or 1.38, to $85.41 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.12% to 1.08, while USD/JPY fell 1.06% to hit 127.85.

Futures on the USD index fell 0.10% to 101.89.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK LABOR MARKET DATA DUE



Labor market statistics from the UK and economic sentiment from Germany are the top economic news due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is seen unchanged at 3.7 percent in three months to November.

In the meantime, Destatis publishes Germany's final consumer and harmonized prices for December. The flash estimates showed that consumer price inflation eased to 8.6 percent from 10.0 percent in November.

At 4.00 am ET, Italy's Istat is scheduled to issue consumer and harmonized prices for December. Inflation is seen at 11.6 percent, unchanged from the flash estimate and down from 11.8 percent in November.

At 5.00 am ET, Germany ZEW economic confidence survey results are due. Economists forecast the economic sentiment index to improve to -15 in January from -23.3 in December.

At 6.00 am ET, consumer prices data from Ireland and producer prices from Portugal are due.

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BANK OF JAPAN KEEPS RATE, YIELD CURVE CONTROL UNCHANGED



The Bank of Japan kept its interest rates as well as yield curve control unchanged and modified some of its lending programs.

The Policy Board of the BoJ unanimously decided to maintain a negative interest rate of -0.1 percent on current accounts that financial institutions maintain at the central bank.

The bank will also continue to purchase a necessary amount of JGBs without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

After unexpectedly expanding the tolerance band of 10-year JGB yields in December, the bank today maintained the stance that it will allow yields to fluctuate in the range of plus and minus 0.5 percentage points from the target level.

The board also decided to extend by one year the deadline for loan disbursement under the Fund-Provisioning Measure to Stimulate Bank Lending and to expand the range of eligible counterparties for the Funds-Supplying Operations to Support Financing for Climate Change Responses.

In the latest Outlook for Economic Activity and Prices, released Wednesday, the central bank raised its inflation outlook for the fiscal 2022 to 3.0 percent from 2.9 percent and maintained the forecast for the fiscal 2023 at 1.6 percent.

For the fiscal 2024, inflation is seen at 1.8 percent, up from 1.6 percent estimated in October.

The bank lowered its fiscal 2022 growth outlook to 1.9 percent from 2.0 percent. Similarly, the growth projection for the fiscal 2023 was trimmed to 1.7 percent from 1.9 percent.

In the fiscal 2024, real growth is forecast to slow to 1.1 percent, which was down from the previous outlook of 1.5 percent.

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