Why IMU is a multi multi bagger, page-21155

European markets were fairly flat overnight.

The FTSE fell 6 points (.087%), the DAX rose 59 points (.35%) and the CAC rose 3 points (.05%).

In the US, the markets were mixed.

The DOW rose 134 points (.35%), the NBI fell 54 points, the NASDAQ Composite rose 267 points (1.74%) and the Russell small cap index fell 11 points.

Two items driving the US market overnight.

1) US job data was released showing nonfarm employment in January - rising by 353k. Market expectations were for 185k.

2) Massive increases in revenue for big Tech companies - Apple, Amazon and especially Meta.

The job figures have dashed any hopes of an interest rate cut in the first half of the year. This, in turn resulted in the rise in bond yields.

The big Tech earning results spurred the US markets - especially the NASDAQ.

Interesting to see if the AI surge will become another dot.com bubble.

US Treasury 10 year bond yield rose to 4.03%.

Oil price slid - Brent crude at US$77.20 per barrel.

Gold price also down - US$2,03 per oz.