A Wall Street firm sees a bumpy yet rewarding wave with semiconductor stocks in 2022 and named Nvidia stock its top pick. Several analysts are still optimistic about semiconductor stocks, despite their recent downturn. Some go further to call semiconductors the new oil of the rapidly digitizing global economy.Semiconductors do …
Read More »Disney Hong Kong Closure Could Push Risk Aversion Ahead
An investor’s mind is a funny thing when it comes to risk-return judgment. Research on risk-aversion has found that most investors dislike losses more than they find joy from gains. The result from this is that the magnitude of market selloffs pushed by news are worse than the velocity of …
Read More »Bitcoin Briefly Lowest Since September As Investors Shed Risk
The price of bitcoin fell at one point Monday to its lowest low since September 2021, as rising rates continue leading investors to shed positions in risky, growth-oriented assets.Bitcoin fell as much as 6% to touch a low of $39,771.91, according to Coin Metrics, but has since reclaimed some of …
Read More »US, UK Stocks Display Lower Start This Week
UK stock markets shed 0.5% to close at 7,445 on Monday, in line with its European peers, as investors across the globe traded cautiously awaiting another US inflation data later this week that could provide further guidance on the Federal Reserve’s monetary policy path.US policymakers are now expected to raise …
Read More »Gold Falling Under Pressure Of Stronger US Dollar
Pressured by the rise of the US dollar, gold reversed its uptrend on Monday to record a drop to 1793 dollars per ounce, compared to the last closing, which recorded 1795 dollars per ounce.The precious metal rose to its highest level throughout the first trading session of this week at …
Read More »US Inflation Level Expectations Remain at Record High
US consumer inflation expectations for the year ahead remained at a record 6% in December of 2021, the same as in November. Home price expectations rose to 5.5% from 5% in November but remained below their May 2021 peak. Also, uncertainty and disagreement about future inflation decreased and expectations about …
Read More »S&P 500 Retreats Under 4600 As Fed’s Tightening-Fears Push Selling
The S&P 500 Index has dipped under 4600 and is down by another more than 1.5% as the equity downturn continues. Concerns about Fed’s tightening policy and higher US bond yields continue to be the main driver of the selling. The equity bears have picked up where they left off …
Read More »US Wholesale Inventories Surge Above Expectations
Wholesale inventories in the United States rose 1.4 percent from a month earlier to $771.09 billion in November of 2021, above a preliminary estimate of 1.2 percent. Increases were seen in inventories of durables (2.1 percent), namely machinery (1.2 percent), automotive (2.7 percent) and professional equipment (0.9 percent). Also, stocks …
Read More »Canadian Stocks Fall On Tech, Oil
Canada’s main stock index, the S&P/TSX, fell to three-week lows below the 21,000 mark, amid a global risk-off sentiment fueled by growing concerns that the Federal Reserve will bring forward rate hike plans. Technology stocks dipped 2.3%, falling for the sixth session in a row as bond yields continue to …
Read More »Market Drivers – US Session – 7 January
Nonfarm Payrolls relatively disappointed prior estimates, but the labor market indicators were stronger than expected. The employment data has had a modest impact on the forex market. In the light of the NFP data, the US Fed is very determined to move out of easing policy settings.Economic DataNonfarm Payrolls (NFP) …
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