City PM TV: Daily Market Snapshot (video)
On the surface, risk assets appear to be bullet proof. Commodities including copper and oil, for example, keep trending higher and made new highs yesterday, while certain equity indices such as the Russell 2000 have extended their recent gains (the index is now up 16 per cent YTD).
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In this brief clip, though, we dig beneath the surface and examine the ‘internals’ of both the equity market and risk assets generally. In other words, how broad based is the equity market rally at an individual stock and sector level? To what extent are major global risk assets participating in this rally? And, what does it mean for markets in coming weeks?
Key data releases and events today include US CPI (for January, at 1.30pm London time) and a speech by Powell to the Economic Club of New York (7pm). Earnings reports are due today from Coca-Cola, General Motors, and Uber, amongst others.