1. NEO Leads New Wave Of Crypto Rally
NEO led a major crypto rally after the cryptocurrency received a positive rating in China. ANS/USD was last seen trading 13.5% higher at $8.5972 as of 7:45 GMT while other major crypto pairs also recorded significant gains. Specifically, litecoin (LTC/USD) added 11% at $38.840 while Dash (DASH/USD) added 7.3% to last trade at $83.99 as of 7:50 GMT.*
2. US Stocks Record Major Profits, EU Stock Markets Open Higher
Stocks in the US closed higher on Friday as the U.S. and China prepare for a fresh round of trade talks. Among Friday’s biggest gainers was Netflix Inc (NFLX) up 9.7% at $297.57, Avon Products Inc (AVP) up 7.6% at $1.690, Electronic Arts (EA) up 7.3% at $84.42 and Alibaba (BABA) up 7% at $139.75. In Europe major indices also traded higher on Monday morning, following positive investor sentiment ahead of a fresh round of trade talks between the U.S. and China, due to take place Monday and Tuesday.
Meanwhile, Brexit and other political events remain in the radar for investors. U.K. Prime Minister Theresa May said on Sunday that if the deal she put together with the EU does not get approved this month, the U.K. will be in “uncharted territory.” In France, President Emmanuel Macron is also facing continued street demonstrations from the so-called “yellow vest” protestors.**
3. Oil Prices Surge On US-China Trade Talks
Oil prices rose by nearly 2 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market. Brent crude futures (CL_BRENT) were last at $58.08 per barrel at 8:00 GMT, up by $1.01, or 1.8 percent, from their last close. U.S. West Texas Intermediate (USOIL) crude oil futures were at $48.87 per barrel, up 91 cents, or 1.9 percent.***
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*Source: Investing Jan 7, 2019 2:48 AM ET
**Source: Forbes Jan 7, 2019 5:53 AM ET
***Source: CNBC Jan 7, 2019 03:07 AM ET