Global Markets Rally Pauses On Profit Taking, Bitcoin Stays Above $31K

Global Markets Rally Pauses On Profit Taking, Bitcoin Stays Above $31K

Major indices worldwide traded in red on Friday as investors paused to book profits after the up rally ran out of steam. 

Futures: The Dow futures are down by 0.70%, and the S&P 500 futures are trading lower by 0.60% on the last check Friday. WTI crude futures are down by 1.58% to $52.29, and gold futures are trading lower by 0.35% at $1,859.30. Ten-year Treasury yield is down 0.8 bps at 1.099%. The VIX futures are up by 3.98% to 25.55.

Cryptocurrency: Bitcoin is trading lower by -5.3% at $31,525 on the last check, and Ethereum is down 7.87% at $1,162.90. ARK Invest CEO and research team have defended cryptocurrencies following Yellen’s comments on its illicit activity. Yellen changed her stance in a statement to the Senate committee.

Asia: Japan’s Nikkei 225 closed lower by 0.44%. The nation’s December core CPI fell 1% year-over-year. Japan’s manufacturing and services activity contracted to 49.7 and 45.7 respectively in January.

China’s Shanghai Composite index fell 0.40%, driven by losses in financials and technology stocks. China’s draft proposals on financial technology put Alibaba Group Holdings Ltd. BABA-backed Ant Group’s valuation at $108 billion

Australia’s S&P/ASX 200 closed lower by 0.34%. The continent’s retail sales fell 4.2% MoM, and services activity contracted to 55.8.

Hong Kong’s Hang Seng shed 1.57% as investors moved from financials and retail stocks into the technology and healthcare sector.

India’s Nifty 50 index is trading lower by 1.04% at press time, led by a dip in banks, metals, healthcare, and commodity shares. Forex reserves data is due later today. South Korea’s KOSPI fell 0.64%.

Europe: Euro Stoxx 50 is trading lower by 0.56% at press time as the European Central Bank kept the interest rates unchanged but warned that rising COVID-19 cases pose a risk to economic recovery. January’s manufacturing activity contracted to 54.7, and services activity fell dipped to 45, beating the consensus on both counts.

London’s FTSE 100 is trading lower by 0.35% at publication time. U.K.’s December retail sales rose 0.3% MoM and 2.9% YoY, missing consensus on both counts. Public sector net borrowing rose to £33.38 billion. 

Germany’s DAX is down 0.50% after January’s manufacturing index contracted to 57, and the services index dipped slightly to 46.8.

France’s CAC 40 is trading down by 0.59% as January’s manufacturing and services activity slipped. 

Spain’s IBEX 35 is down 0.70% at publication time.

Forex Trading: U.S. Dollar Index futures are down 0.02% to 90.105. The dollar has weakened by 0.14% against the Euro but gained 0.36% against the Sterling Pound, 0.16% against the Japanese Yen, and 0.23% against the Chinese Yuan.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

Posted In: CAC-40DAX indexeuroeuropean marketsFTSE 100global marketsHang Seng IndexIbex 35Japanese YenKospiNifty50Nikkei 225SSE Composite IndexNewsEmerging MarketsEurozoneFuturesForexGlobalMarketsMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.