Alphabet joins the trillion club

Daily Analysis - 17/01/2020

Alphabet is now officially the 4th U.S tech company to reach 1T market value


Yesterday the technology giant Alphabet joined the trillion market value club by hitting the $1 trillion in market value. Doing that has now become the 4th U.S. technology company to join the trillion club and reach that level, following Microsoft, Apple, and Amazon. Amazon recently has moved back to around $930B.

According to FactSet If we add Facebook inside the trillion group, the five most high-priced U.S. tech corporations are now worth a tremendous $5.2 trillion. This is estimated to be more than 17% of the S&P 500.

U.S dollar stronger than yen

On Friday the popular greenback climbed to an eight-month top versus the safe-haven Japanese yen following a surge in U.S. job data. In the meantime, the yuan supported following China’s economic numbers that improved the risk sentiment that previously had also boosted the China-U.S. trade agreement. The dollar surged 110.303 yen. That is the most powerful level since late May in 2019.


Gold in range due to low demand

On Friday the popular safe haven Gold went higher but exchanged in a close range as investors waited for any new developments regarding the trade deal. Gold, though, was on course to register its worst decline in about 60-days. U.S. gold futures surged 0.4% to $1,556.89 while the Spot gold rose 0.2% to $1,555.13 per ounce, going for a weekly decline.


Positive momentum for U.S futures

On Friday morning the U.S. stock index futures moved slightly higher while traders digested the growth numbers out of China. Early in the morning, Dow futures increased more than 40 points, registering a positive start of more than 30 points. Futures on Nasdaq and S&P moved also to more important levels. The U.S. stocks surged to a new top yesterday due to better outcomes than was anticipated from Morgan Stanley.


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