31.01 - A busy trading day ahead
- by Roger Gain
President Trump sets the tone for global financial markets.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Global market overview
Investor enthusiasm is fading on the final day of January.
Traders are considering President Trump's latest moves related to his travel ban, which bars citizens of seven Muslim-majority countries from entering the United States for 90 days.
Trump fired acting Attorney General Sally Yates Monday night for "refusing to enforce" the order.
U.S. stock futures have dipped into the red.
European markets were mostly higher in early trading. Most Asian markets ended the day with losses.
The Dow Jones industrial average, S&P 500 and Nasdaq all dropped on Monday.
2. Gold is looking strong
Gold prices were higher today, adding to the prior session's gains amid uncertainty over the outlook for U.S policy after President Donald Trump introduced immigration curbs that sparked criticism at home and abroad.
3. Earnings and economics
ExxonMobil, Mastercard, Aetna, Under Armour, Sprint and UPS are some of the key companies releasing earnings before the open.
Investors will be keeping a particularly close eye on oil giant ExxonMobil - whose former CEO Rex Tillerson has been nominated as Trump's secretary of state.
Apple, Electronic Arts and U.S. Steel are set to release earnings after the close.
The Apple results will show how successful the iPhone 7 was during the holiday season.
In Japan, shares in Nintendo declined by nearly 2% Tuesday after the firm reported its latest earnings.
The latest monthly S&P Case Shiller Home Price Index will be released at 14:00 GMT.
The Conference Board's Consumer Confidence Index for January is out at 15:00 GMT.
4. Fed discuss rates, German bank in trouble
Fed chair Janet Yellen said earlier this month that the economy is near maximum employment and inflation was moving closer to the central bank's goal. Yellen reiterated that she and other Fed leaders expect to raise rates a "few times a year" until 2019.
The Fed may also discuss President Donald Trump's new policies and their economic impact. Before Trump took office, Fed officials said there was "considerable uncertainty" surrounding his plans.
Meanwhile, German lender Deutsche Bank (DB) is facing roughly $630 million in fines for failing to deal with a Russian money-laundering scheme that used its London and New York branches.
Shares in the bank were up by nearly 2% in European trading.