European stocks retreated on Friday, continuing to recede from highs despite positive broker backing from firms including Credit Suisse and Morgan Stanley.The Stoxx Europe 600 XX:SXXP dropped 1% in afternoon trade, and the index is now down over 3% from record highs set in November. The European backdrop has been …
Read More »S&P 500 Bounces On Quad Witching day
US stock markets have maintained uneven performance on the final trading day of the week as traders still busy digesting this week’s Fed’s hawkish signals pivot and a continued rise in global Omicron Covid-19 variant infections.The S&P 500 was last down 0.1%, though it bounced from earlier session lows in …
Read More »Fed’s Decisions Digestion Pull Wall Street lower
US stocks are digesting Fed’s decisions after the positive kneejerk reaction, which led to the decline of most New York Stock Exchange indices. The Dow Jones Industrial Average fell to 35578 points, after adding about 327 points, or 1.00%. S&P500 fell to 4,649 points, losing about 19 points, or 0.4%. …
Read More »Japan Shares Slide on Interest Rate Hike Fears
Japanese stocks fell on Friday, reversing most of the gains made in the previous session, as investors became cautious about an interest rate hike after the US and UK central banks took steps to tighten monetary policy, while concerns related to the pivot Omicron weighed on travel-related stocks. The Nikkei …
Read More »Market Drivers – US Session – 16-12-2021
Gold was among the best performers, advancing for a second consecutive day and currently trading around $1,795 a troy ounce. Crude oil prices were also up, with the barrel of WTI currently trading at $72.50. European indexes posted substantial gains, but Wall Street was unable to follow the lead, and …
Read More »Biden: Omicron is here and going to start spreading more rapidly
“Omicron is here and going to start spreading more rapidly”, said US President Joe Biden while speaking from Roosevelt Room in the White House.US looking at a winter of severe illness and death for those not vaccinated against COVID-19. “It’s past time for people to get booster shots, which they …
Read More »US Trucking Action Plan Launched Amid Labour Shortage
The White House will unveil its “Trucking Action Plan” on Thursday to address supply chain challenges that have plagued the US economy for several months.The plan is the product of the administration’s Supply Chain Disruptions Task Force, a group chaired by Commerce Secretary Gina Raimondo, Transportation Secretary Pete Buttigieg and …
Read More »Wells Fargo: US Industrial Production Not Getting Worse
Though still affected by supply chain bottlenecks and constraints including labour shortages, the US industrial production grew just 0.5% in November, a marked slowdown from the upwardly revised 1.7% pick-up in October, mentioned analysts at Wells Fargo.Analysts have pointred out that slight improvements in supplier deliveries suggest things are at …
Read More »Another Rate Hike Coming Early Next Year By Bank of England
After the rate hike announcement on Thursday from the Bank of England, analysts at Rabobank held on to their forecast of a much less aggressive tightening cycle than what is currently priced in front-end rates. They expect another 25 bps hike early next year. The Bank of England MPC confused …
Read More »Lagarde Itroduces Changes To QE Programmes
The European Central Bank introduced changes to its QE programs on Thursday. The ECB could have delivered a more hawkish calibration, but retain flexibility and optionality for now. During today’s press conference, Christine Lagarde conveyed that optionality and flexibility were key components of ECB’s calibration. The calibration has both something …
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