From Nasdaq:

Asia-Pacific equity markets finished mostly lower with the exception of Australia’s ASX All Ordinaries and South Korea’s KOSPI, which finished the first session of the year up 0.48% and 0.55%, respectively. European markets are mixed in midday trading, and U.S. equity futures point to a down market open to start the new trading year. Investors are optimistic for 2024, spurred on by potential rate cuts, cooling inflation, an earnings rebound, and sector diversification.

Over the holiday weekend, Israel’s Prime Minister Benjamin Netanyahu vowed to continue until “absolute victory,” adding that “the war will last for many more months.” Meanwhile, Russia stepped up its air strikes on Ukraine with attacks continuing into this morning. Chinese President Xi Jinping said China’s “reunification” with Taiwan is inevitable and pledged to strengthen economic momentum and job creation. China’s NBS Manufacturing PMI fell to 49.0 in December, the third straight month of contraction due to a faltering recovery and mounting global headwinds. China’s NBS Non-Manufacturing PMI edged up to 50.4 in December, the 12th straight month of expansion.

S&P Global will publish its final Manufacturing PMI for December, Eurozone: HCOB Services PMI – December, and U.S. ISM Manufacturing PMI – December are expected on Wednesday, January 3.

Equities closed out 2023 with the Dow down 0.05%, the S&P 500 fell 0.28%, the Nasdaq Composite dropped 0.56% and the Russell 2000 closed 1.52% lower. Bitcoin (BTC-USD): 152.97% Ether (ETH-USD): 91.57% Industrial Select Sector SPDR Fund (XLI): 16.07% Technology Select Sector SPDR Fund (XLK): 54.68% Communication Services Select Sector SPDR Fund (XLC): 51.41% Consumer Discretionary Select Sector SPDR Fund (XLY): 38.44%

No companies are expected to release quarterly earnings before equities begin trading later this morning. Nokia (NOK) does not expect to achieve its 2023 financial outlook as licensing renewal discussions have slipped into 2024. Nokia will report its December quarter results on January 25.

After today’s market close, no companies are expected to report quarterly results. Those looking for more on upcoming quarterly earnings reports should head on over to Nasdaq’s Earnings Calendar. On Thursday, January 4, China: Caixin Services PMI – December Eurozone: HCOB Services PMI – December UK: S&P Global/CIPS Services PMI – December are expected.



Read more: Daily Markets: Investors Optimistic About 2024, But Obstacles Linger