Market Overview
European markets ended slightly lower on Wednesday, January 10, with the STOXX600 index slipping by 0.17% amid a resurgence of negative sentiment. Mining stocks led the decline, falling by 1.07%, while media stocks offered a rare bright spot, climbing 0.75%.
Across the Atlantic, Meta Platforms surged 3.6%, marking its highest level in over two years. The rally added approximately $33 billion to the company’s market cap in a single day after Mizuho Securities raised its price target from $400 to $470, fueling optimism in tech-heavy indices.
Dollar Index (USDX)
The U.S. dollar index declined for a second straight session, easing 0.1% and slipping below its key pivot point at 101.95. Market attention now shifts to the release of U.S. Consumer Price Index (CPI) data, expected to provide clues about the Federal Reserve’s future rate decisions.
- Pivot Point: 102.15
- Resistance Levels: 102.25 • 102.45 • 102.55
- Support Levels: 101.95 • 101.80 • 101.65
Gold (XAU/USD)
Gold prices edged higher on Thursday, January 11, buoyed by a weaker dollar as traders await critical inflation data from the U.S. The numbers are expected to shape expectations for the Fed’s monetary policy trajectory for 2025.
- Spot Gold: Up 0.3% to $2028.78/oz
- Gold Futures: Up 0.3% to $2033.00/oz
- Pivot Point: 2028
- Resistance Levels: 2036 • 2048 • 2055
- Support Levels: 2016 • 2008 • 1996
Dow Jones & S&P 500: Tech Rally Drives Markets Higher
U.S. stock indices closed higher on Wednesday, led by gains in technology shares. Investor focus remains on upcoming inflation data and a wave of bank earnings due on Friday, including reports from JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, with analysts expecting a decline in Q4 profits.
- The Dow Jones climbed 170 points (+0.45%), notching its highest close in a week.
- The S&P 500 rose 0.57%, now just 13 points (0.27%) away from its all-time closing high of 4796.56, set on January 3, 2022.
- The Nasdaq Composite gained 0.75%, marking its fourth straight daily gain.
- Pivot Point: 37,870
- Resistance Levels: 38,045 • 38,155 • 38,330
- Support Levels: 37,760 • 37,585 • 37,475
U.S. Crude Oil (USO/USD)
Oil prices bounced back during Thursday’s trading, recovering from losses triggered by an unexpected increase in U.S. crude inventories. Geopolitical risks in the Middle East also added a layer of support for crude markets.
According to the U.S. Energy Information Administration (EIA), crude stockpiles rose by 1.3 million barrels for the week ending January 5, reaching 432.4 million barrels — contrary to analyst expectations for a 700,000-barrel decline.
- Pivot Point: 71.95
- Resistance Levels: 72.90 • 74.50 • 75.50
- Support Levels: 70.35 • 69.35 • 67.75
Risk Disclaimer
This report is intended for informational purposes only and does not offer financial or investment advice. Always consider your financial goals, risk appetite, and market knowledge before entering any trade. STARTRADER does not accept liability for trading losses linked to reliance on market views expressed in this article.