Tuesday, January 30–Jim Wyckoff’s Morning Markets Report
World stock markets were mostly weaker overnight. U.S. stock indexes are pointed toward lower openings when the New York day session begins. The equities markets worldwide are a bit worried about rising bond yields. The U.S. 10-year note rose to a more-than-three-year high yield on Monday.
In overnight news, the Euro zone reported its fourth-quarter gross domestic product at up 0.6% from the third quarter and up 2.7%, year-on-year. Those numbers were in line with market expectations.
This is a busy events week for the marketplace. Tuesday evening President Trump delivers his state-of-the-union speech. The Federal Open Market Committee (FOMC) meets Tuesday and Wednesday, which will be Fed Chair Janet Yellen’s last meeting. And on Friday the monthly U.S. employment situation report from the Labor Department is due out.