Europe Market Open: Trump's team reportedly working on plan to control Venezuelan oil for years to come; European equity futures lower

US President Trump cancels a second attack on Venezuela, suggesting the two countries “are working well together”.US President Trump said companies will spend at least USD 100bln in Venezuela, and he will be meeting oil executives today.European equities open firmer; Rio Tinto (-2%) & Glencore (+8%) resume merger talks; US equity futures trade tentatively ahead of NFP.DXY moves higher whilst USTs trade steady ahead of key US data; JPY underperforms.Crude pares back some of Thursday's gains as Trump cancels a second wave of attacks in Venezuela; spot gold trades sideways.Looking ahead, highlights include US Jobs Report (Dec), Potential SCOTUS tariff decision, University of Michigan Sentiment Prelim (Jan), Canadian Jobs Report (Dec), Speakers include ECB's Lane, Fed's Kashkari & Barkin.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks followed suit to the mixed performance on Wall Street with the regional bourses predominantly in the green, albeit with traders bracing for the US Non-Farm Payrolls report and a potential Supreme Court's ruling on tariffs.US President Trump warned that the US will hit Iran hard if they kill rioters.US President Trump said companies will spend at least USD 100bln in Venezuela, and he will be meeting oil executives today.Big tech was spared strict rules in the EU digital rule overhaul, with big tech to be subject to a voluntary framework.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed with losses of 0.3% on Thursday.Looking ahead, highlights include German Industrial Output (Nov), Norwegian CPI (Dec), US Jobs Report (Dec), Potential SCOTUS tariff decision, University of Michigan Sentiment Prelim (Jan), Canadian Jobs Report (Dec), Speakers include ECB's Lane, Fed's Kashkari & Barkin.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump's team is working up a sweeping plan to control Venezuelan oil for years to come, according to WSJ.US President Trump posted that Venezuela is going to be purchasing only American-made products with the money received from the new oil deal with the US.European and US equity futures are broadly on the backfoot; China is to reportedly approve some NVIDIA H200 purchases as soon as this quarter.DXY incrementally firmer awaiting further jobs data after an early Challenger Layoffs release; Antipodeans lag.Fixed income faltered as risk sentiment saw a fleeting recovery; Spain and France auctions passed without issue.Crude rebounds following after recent losses with newsflow quiet; Precious metals on the backfoot once again in quiet newsflow.Looking ahead, highlights include US Initial Jobless Claims, RevelioLabs Total US Nonfarm Employment Data, Comments from Fed's Miran.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks eventually traded mostly negative following a similar handover from Wall Street, where the S&P 500 and DJIA pulled back from record highs.USD/JPY saw two-way trade with early upside as Japanese yields ticked lower following softer-than-expected wage data from Japan, but then reversed course as the negative risk tone in Japan spurred some mild haven currency flows.US President Trump's team is working up a sweeping plan to control Venezuelan oil for years to come, according to WSJ.US President Trump posted that Venezuela is going to be purchasing only American-made products with the money received from the new oil deal with the US.European equity futures indicate a softer cash market open with Euro Stoxx 50 futures -0.4% after the cash market closed with losses of 0.1% on Wednesday.Looking ahead, highlights include Swedish CPI (Dec), Swiss CPI (Dec), US Initial Jobless Claims, RevelioLabs Total US Nonfarm Employment Data, Chinese Inflation (Dec), SNB Minutes, ECB SCE, BoE DMP, Comments from ECB's de Guindos, Supply from Spain & France.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Crude pressured after US President Trump announced that Venezuelan authorities will be turning over 30mln-50mln barrels of oil to the US.China's Commerce Ministry announced an anti-dumping probe into Japan Dichlorosilane imports; a key material used during chip manufacturing.European and US equity futures are mixed; NVIDIA (NVDA) CEO says Chinese demand for its AI chips is quite high.Choppy but contained FX trade as markets await economic data; Aussie initially pressured on inflation but now flat, given headline & core metrics remain above the RBA’s 2-3% target.Global fixed paper are firmer as the European risk tone slips; Bunds digest EZ HICP and supply.Looking ahead, highlights include, US ADP, ISM Services PMI (Dec), JOLTS (Nov), Comments from Fed's Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded somewhat mixed as momentum began to wane despite the fresh record levels on Wall Street.Nikkei 225 lagged amid Japan's frictions with China after the latter imposed export controls on dual-use items to Japan.Spot gold pulled back from resistance at the USD 4,500/oz level, with some mild selling pressure seen across the commodities complex.US President Trump announced that Venezuelan authorities will be turning over 30mln-50mln barrels of oil to the US.Russia sent a submarine to escort a tanker the US tried to seize off Venezuela, according to WSJ.Looking ahead, highlights include German Retail Sales (Nov), Italian CPI Prelim (Dec), Eurozone HICP Flash (Dec), US ADP, ISM Services PMI (Dec), JOLTS (Nov), Comments from Fed's Bowman, Supply from Germany & UK.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is scheduled to deliver remarks at a GOP member retreat at 10:00EST/15:00GMT on Tuesday and will participate in a meeting at 14.30EST/19:30GMT on Tuesday.China Commerce Ministry imposes export controls on dual-use items to Japan, effective immediately.European bourses are mostly firmer; US equity futures are mixed, with the RTY under slight pressure.Mostly uneventful trade across G10s but EUR subdued post-PMI & German State CPI.Bonds initially pressured before EGBs benefitting from German State CPIs ahead of the 13:00GMT mainland print.Crude initially lower but now a touch in the green; XAU extends on Monday's gains as Copper reaches another ATH.Looking ahead, German CPI (Dec), US S&P PMI Final (Dec), Speakers including Fed's Barkin, US President Trump, Fed Discount Rate Minutes.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly higher following the positive handover from Wall Street, where all major indices gained amid outperformance in energy and a softer yield environment.US President Trump is scheduled to deliver remarks at a GOP member retreat at 10:00EST/15:00GMT on Tuesday and will participate in a meeting at 14.30EST/19:30GMT on Tuesday.Witnesses reportedly heard loud blasts near the Presidential Palace in Caracas, Venezuela, according to Bloomberg's Erik Wasson. There were then reports of a shooting near the Presidential Palace in Caracas, although the Venezuelan government said the situation was under control.NVIDIA (NVDA) CEO said there is strong demand from China for H200 chips, while he added that the Co. has applied for licenses to ship H200 chips to China, and the US government is working to process them.European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with gains of 1.3% on Monday.Looking ahead, highlights include French CPI Prelim (Dec), German CPI Prelim (Dec), US S&P PMI Final (Dec), Speakers including ECB's Cipollone & Fed's Barkin, Fed Discount Rate Minutes, Supply from Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced on Saturday that the US successfully carried out a large-scale strike against Venezuela, while he added that President Maduro and his wife were captured and flown out of Venezuela.US President Trump said they are ready to stage a second strike if necessary and had assumed a second wave was needed, but now probably not.US President Trump signalled the US could widen its focus in the region to Cuba, and he will be meeting with House Republicans in a closed-door meeting on Tuesday. Further, Trump said it “sounds good” to him regarding whether there will be an operation in Colombia.European bourses are broadly in the green; US equity futures are mixed, with outperformance in the NQ. ASML +3% named top pick at Bernstein.DXY firmer on haven appeal, G10s subdued across the board to various degrees; Global fixed income slightly firmer with non-geopolitical updates somewhat light, ISM ahead.Choppy price action in the crude complex as geopolitics remain in focus; XAU gain on safe-haven demand; Copper raises following strength in the semiconductor sector.Looking ahead, highlights include US ISM Manufacturing PMI (Dec).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced on Saturday that the US successfully carried out a large-scale strike against Venezuela, while he added that President Maduro and his wife were captured and flown out of Venezuela.US President Trump said they are ready to stage a second strike if necessary and had assumed a second wave was needed, but now probably not.US President Trump signalled the US could widen its focus in the region to Cuba, and he will be meeting with House Republicans in a closed-door meeting on Tuesday. Further, Trump said it “sounds good” to him regarding whether there will be an operation in Colombia.Crude futures fluctuated and pared most of their earlier losses after initially slumping by more than 1% as participants digested the geopolitical events from over the weekend.APAC stocks were mostly higher as the region shrugged off the US strike on Venezuela and resumed last year's semiconductor-led rally which lifted the KOSPI to a record high; European equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 0.7%.Looking ahead, highlights include US ISM Manufacturing PMI (Dec).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk