Must-See: Elon's New "Space" Device

Tech legend Jeff Brown predicts this "space technology" will be Elon Musk's next trillion-dollar business, and it will make a lot of people rich. This could be the biggest internet innovation since the first web browser Netscape kicked off the internet boom in the late 1990s.

Stock market today: Asian stocks follow Wall Street's retreat, oil prices surge

ZIMO ZHONG
January 13, 2025

HONG KONG (AP) -- Asian stocks retreated on Monday after U.S. stocks fell as good news on the job market raised inflation worries.

Markets in Japan were closed for a holiday.

U.S. futures dropped while oil prices surged more than $1 a barrel after President Joe Biden's administration expanded sanctions against Russia's critically important energy sector over its war in Ukraine. The Biden administration said the sanctions announced Friday were the most significant to date against Moscow's oil and liquefied natural gas sectors, drivers of Russia's economy.

U.S. benchmark crude oil surged $1.50 to $78.07 per barrel, while Brent crude, the international standard, rose $1.44 to $81.20 per barrel.

China reported its exports grew at a faster pace than expected in December, as factories rushed to fill orders to beat higher tariffs that U.S. President-elect Donald Trump has threatened to impose once he takes office.

Exports rose 10.7% from a year earlier. Economists had forecast they would grow about 7%. Imports rose 1% year-on-year. Analysts had expected them to shrink about 1.5%. With exports outpacing imports, China's trade surplus grew to $104.84 billion.

But the upbeat data failed to boost the region's stocks. Hong Kong's Hang Seng dropped 1.3% to 18,820.46, while the Shanghai Composite lost 0.5% to 3,154.37.

"Adding to the skittish sentiment is the uncertainty over how Asian economies, especially China, will fare under the shadow of the incoming Trump administration's 'America First' trade policies," Stephen Innes of SPI Asset Management said in a commentary.

Australia's S&P/ASX 200 dipped 1.5% to 8,166.40. South Korea's Kospi shed 1.2% to 2,486.14.

On Friday, the S&P 500 tumbled 1.5% to 5,827.04, ending its fourth losing week in the last five. The Dow Jones Industrial Average dropped 1.6% to 41,938.45, and the Nasdaq composite sank 1.6% to 19,161.63.

Stocks took their cues from the bond market, where yields leaped to crank up the pressure after a report said U.S. employers added many more jobs to their payrolls last month than economists expected.

Such strength in hiring is of course good news for workers looking for jobs. But it could also keep upward pressure on inflation by keeping the overall economy humming. That in turn could dissuade the Federal Reserve from delivering the cuts to interest rates that Wall Street loves. Lower rates can not only goose the economy but also boost prices for investments.

The Fed has already indicated it's likely to ease rates fewer times this year than it earlier expected because of worries about higher inflation. That's in part because some officials are taking seriously the possibility of tariffs and other policies coming from President-elect Donald Trump that could worsen inflation.

Friday's jobs report might not have been as strong as it appeared, given weakness in manufacturing.

Markets have been deflating after traders sent U.S. stock indexes to dozens of records last year, banking on a stream of rate cuts coming from the Fed. If fewer cuts materialize than expected, stock prices would likely either need to fall, or profits at companies would have to rise more strongly to compensate.

Insurance companies were also under pressure as wildfires continue to burn in the Los Angeles area. Many of the homes that have been destroyed were in expensive areas where the typical price can top $3 million, and such high-priced damage could eat into insurers' profit. Allstate fell 5.6%, Travelers dropped 4.3% and Chubb lost 3.4%.

Delta Air Lines was able to fly 9% higher because it delivered a stronger profit report for the last three months of 2024 than analysts expected. The airline said it's seeing strong demand for travel, which accelerated through the end of last year, and it expects that to continue into 2025.

In other dealings early Monday, the U.S. dollar fell to 157.34 Japanese yen from 157.82 yen. The euro dropped to $1.0218 from $1.0244.

Continue Reading...

Popular

Trump keeps saying the GOP mega bill will eliminate taxes on Social Security. It does not

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs. 

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Marjorie Taylor Greene: 'Muslim Takeover' Threatens American Women

Rep. Marjorie Taylor Greene (R-Ga.) has expressed her fears regarding what she believes to be the most significant threat to the freedom of American women.

Mystery Seller Behind $105 Million Plot Next to Jeff Bezos Estate Finally Revealed

A plot of land neighboring Jeff Bezos' property in Miami was sold for a staggering $105 million. The undeveloped lot was sold by German investor Mikhail Peleg.

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Iran’s president orders country to suspend cooperation with UN nuclear watchdog IAEA

DUBAI, United Arab Emirates (AP) — Iran’s president on Wednesday ordered the country to suspend its cooperation with after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors' ability to track Tehran's program that had been enriching uranium to near weapons-grade levels.

Outrage Mounts Over Trump's Appointment of 22-Year-Old to Terrorism Unit Amid Iran Crisis

In a move that has drawn widespread criticism, President Donald Trump has appointed 22-year-old Thomas Fugate to a critical terrorism-prevention role, amidst rising tensions with Iran.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Quantum Stocks Surge And Stumble: Here's What Happened This Week

Quantum Computing announced a $200 million private placement, Microsoft's CEO said quantum computing could take scientific advancements to the next level and more from the week.

Wildfire kills 2 people in Spain as parts of Europe bake in heat wave

BARCELONA, Spain (AP) — Two people died in Spain in a wildfire that spread quickly before firefighters brought it under control, authorities said, as a sent thermometers soaring again on Wednesday.

Wall Street Legend: Trump Tariffs Will Accelerate the Greatest Wealth Transfer in History - Ad

A financial insider with decades on Wall Street has released a controversial video. He reveals the unseen connection between Trump's economic vision and a technological revolution. This hidden synergy is creating both unprecedented wealth and poverty. What can you do about it?

Elon Musk Says 'Clear Path' To Restoring Hearing With Neuralink, But The Deaf Community Want To Have Their 'Say'

Elon Musk's Neuralink faces backlash from the deaf community after proposing brain implant technology to restore hearing, with deaf adults calling for inclusion in the research process.

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Russian Spy Chief And CIA Director Ratcliffe Agree To 'Call Any Time' Amid Tensions: Report

Russian spy chief Sergei Naryshkin and the Director of the Central Intelligence Agency (CIA), John Ratcliffe, have reportedly agreed to have direct communication at any time.

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Mexican banks face cascading consequences following US sanctions

Mexico City (AP) — Three Mexican financial institutions sanctioned by the Trump administration last week have felt a cascade of economic consequences following the allegations that they helped launder millions of dollars for drug cartels.

Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops

MANILA, Philippines (AP) — Asian shares were mixed on Wednesday following a similar drift overnight on Wall Street as losses for Tesla and other technology shares put a brake on the momentum of recent record highs.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Iran's Top Diplomat To UN Says Uranium Enrichment To Continue: An 'Inalienable Right'

Iran reaffirms commitment to nuclear program despite US strikes. Ambassador cites Non-Proliferation Treaty as justification. Impact remains debated.

You Voted for Trump. You Didn't Vote for This... - Ad

Markets in chaos-stocks wiped out, tariffs from the 1930s, agencies collapsing. But it's not random: Trump's "GREAT RESET" is a four-year plan to reset markets, risking $10T in value. Discover if your retirement is in danger and learn the one trade that could turn $1,000 into $29,000 by the end of 2026.

Bye Bye Birdie: Twitter Blue Bird Logo Blown Up To Promote Online Marketplace Company

Elon Musk bought Twitter for $44 billion and rebranded it to X, auctioning off old memorabilia like the iconic blue bird logo. Ditchit, the buyer of the logo, recently blew it up in a promotional stunt.

Must-See: Elon's New "Space" Device - Ad

Tech legend Jeff Brown predicts this "space technology" will be Elon Musk's next trillion-dollar business, and it will make a lot of people rich. This could be the biggest internet innovation since the first web browser Netscape kicked off the internet boom in the late 1990s.

Inside The Trump Family's $620 Million Crypto Empire

Since retaking the White House, Donald Trump's reported net worth has remained broadly stable, around $6.5 billion on Election Day to roughly $6.4 billion today.

Air India faces turbulence as plane crash prompts deeper checks and disruptions

NEW DELHI (AP) — Air India is facing fresh turbulence following last week’s fatal crash as additional safety inspections on its Dreamliner fleet have led to flight delays, cancellations and growing passenger anxiety.

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

A hard-right lawmaker is sworn in as Greece's migration minister

ATHENS, Greece (AP) — A hard-right lawmaker was sworn in Monday as Greece’s migration minister, replacing a fellow right-wing political heavyweight who resigned following

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

20 Surprising Reddit Facts To Celebrate Its Milestone Birthday

Here's a look at Reddit's best-kept secrets and odd historical footnotes as the platform turns 20.

Musk Third-Party Odds Hit 47% — Can The Tesla Chief Do What No One Has Since 1853?

A promise to create a third party from billionaire Elon Musk comes with historical difficulties of challenging the current two-party system.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

How a GOP rift over tech regulation doomed a ban on state AI laws in Trump's tax bill

NEW YORK (AP) — A controversial bid to deter states from regulating artificial intelligence for a decade seemed on its way to passing as the championed by worked its way through the U.S. Senate.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service