Market Update

The Federal Open Market Committee meets for the first time in 2022 on 25-26 January. FOMC meeting comes at a critical time as far as US inflation is concerned.With headline consumer price index reaching 7% year-over-year; reflecting increases in a wide range of major categories, and unemployment moving below 4%, …

US stocks fell across the board and Treasury yields surged amid a ramp-up in speculation that central banks will have to boost interest rates sooner than earlier anticipated.All but one of the 11 industry groups in the S&P 500 fell, while the Dow Jones Industrial Average dropped to the lowest …

Shares of the mining and trading giant hit highest since 2012 as demand prospects fuel talk of years-long commodity super-cycle.Commodities giant Glencore Plc hit the highest in almost a decade, driven by rallies in everything from metals to coal and optimism for a years-long super-cycle.The world’s biggest commodity trader surpassed …

France central bank Chair and ECB governing council member François Villeroy de Galhau reiterated on Tuesday that French inflation is likely to fall back under 2.0% by the end of 2022. However, should inflationary pressures prove more persistent, he added, he has no doubt that the ECB would adapt its …

After hitting multi-year highs near the $86.00 per barrel level, WTI has since backed off to trade around $85.00. Market commentators have attributed rising geopolitical tensions in the Middle East as behind the latest push higher.After hitting multi-year highs early on during the European trading session near the $86.00 per …

Builder confidence fell one point to 83 in January, according to the National Association of Home Builders.Of the index’s three components, current sales conditions was unchanged at 90. Sales expectations in the next six months fell 2 points to 83, and buyer traffic fell 2 points to 69. The average …

US Treasury yields jumped overnight with the interest-rate sensitive 2-year printing a fresh 23-month high of 1.05%, while the benchmark 10-yearhit 1.83%, a level last seen in January 2020. Market expectations that the Federal Reserve will hike rates four times this year, by 25bps each time, and that the central …

Wall Street is off to another day in the red territory at the start of the shortened trading week as investors are grappling with earnings seasons and rising Treasury bond yields.All three major indexes opened lower, with the Dow down 400 points, or 1.1%. The broader S&P 500 dropped 1%, …

Goldman Sachs Group Inc. has released its financial results for the last quarter of 2021. The bank said operating expenses reached 23% in 2021, the highest since 2007. Earnings per share for the fourth quarter were $10.81, and expectations were for $11.77. Thus, Goldman Sachs profits fell 13% to $3.94 …

Goldman Sachs expects oil to reach $100 a barrel in the second half of this year, citing less-than-expected demand damage from the Omicron variable, as well as increased supply disruptions. According to Reuters, the US bank expected, in a note dated Monday, that Brent crude prices would reach $90 a …