Check out this week's financial results and economic calendar (1/1-1/5) US employment statistics! Will it give impetus to risk on

This week's points
Are Japanese stocks doing well this week? 2024 will start on Thursday, and we will be there for 2 days. Overseas, each country is closed for the New Year on the 1st. January 4, the big launch will be greatly affected by overseas markets and exchange rates during the holiday period.

The year 24 will be the “year of the dragon.” It's called the “Tatsumi ceiling,” but if you take only the year of the dragon, out of the twelve zodiac signs, from past dataThe year with the highest performanceIt looks like it will be. What are the notable themes for the new year in JapanPeriod for the “cancellation of negative interest rates by the Bank of Japan”Probably. How far will the appreciation of the yen progress due to the Bank of Japan's policy revisionsIt is a factor that suppresses the increase in the Nikkei AverageBut domesticallyThe governance revolution is progressingSo it will be a year where we can cover that in total. Furthermore, from year 24The inflow of new funds with the start of the new NISA、Revitalizing the securities marketis expected.

In the US stock market, it depends on the US Federal ReserveAttention is being paid to the timing and pace of interest rate cutsIt will be done. Furthermore, whether Mr. Trump will make a comeback in the US presidential election in November is likely to be the biggest point of attention. All 3 indices have updated their year-to-date highs in the last week of 2023, and it seems that the strong situation will continue for some time in 2024 from expectations of early interest rate cuts. This week'sThere is a possibility that risk on will gain momentum depending on the results of US employment statisticsSince there is also, it is unlikely that US stocks will collapse drastically in week 1.

This week, there are plenty of notable materials, such as the number of US November JOLTS job offers, FOMC minutes, US December ADP employment statistics, and US December non-farm sector employment numbers, and we will determine the timing of US interest rate cuts while watching these.

Last week's market price points
1. The Nikkei Average continued to rise for 3 weeks and ended with a relatively good atmosphere of year-end high
2. A strong sense of optimism continues
3. Bank of Japan recedes early policy correction observations due to main opinions
4. Bank of Japan Governor “Decisions on policy normalization are possible before small to medium wage increases due to spring battles”
5. Former Speaker of the House Pelosi purchases NVIDIA shares worth 5 million dollars as an option

The Nikkei Average rose for the third week in a row to 33,464.17 yen in the Tokyo stock market last week, 295.12 yen (0.89%) higher than the previous weekend. It was the last week of the year and there were material difficulties, but the strong trend of US stocks did not collapse, and a strong sense of optimism continued. The annual increase was 7369 yen, the largest since 1989 (8756 yen increase). 2023 depends on the Tokyo Stock ExchangePBR reform、Effects of Mr. Buffett's visit to Japan、Mergers and Acquisitions (Mergers and Acquisitions)The “three engines” drove stock appreciation.

In an interview with NHK on the 26th, Governor Ueda stated that while it is possible to determine policy revisions even before wage data for small and medium-sized enterprises is completely available, the possibility that considerable information can be obtained until the monetary policy meeting in January 24 is not zero, but “I don't think it's that high so far.” In the main opinion of the BOJ December meeting announced on the 28th, it was pointed out that even if spring wage increases are higher than expected, there is little risk that the underlying inflation rate will greatly exceed 2%. In response to this, early policy revision observations receded, and yen selling pressure was applied.