Wall Street closed sharply higher on Friday, as signs of inflation peaking and then data on consumer spending increased investor optimism that the Federal Reserve would be able to tighten monetary policy without pushing the economy into recession. All three major US stock indexes halted their longest streak of weekly …
Read More »Financial Markets’ Weekly Recap, 9 – 13 May
The US inflation data dominated the markets in the week ending May 13th. The safe-haven assets ended the trading in a bearish direction led by gold as a result of the rise in the US dollar. Wall Street ended trading higher on Friday, ending a week of wild market volatility, …
Read More »EUR/USD surges above 1.0400 from multi-year lows as equities soar
The EUR/USD pair has rebounded from the lowest intraday level since 2017 and reversed direction upwards above 1.0400 late on Friday amid a prevalent improvement or risk sentiment and a correction of the US dollar. The euro is still headed toward the lowest weekly close since December 2002.Recovery in equity …
Read More »Cash Mighty King Across Markets As Investors Sell Assets
Equity index futures are pointing to a much lower open as the S&P 500 futures are finally breaking below March lows after falling 1.9% before the open and trading below the 4,100 level. Once again, the downward pressure appears to be coming from tech stocks because Nasdaq futures were down …
Read More »Financial Markets’ Weekly Recap, 2 – 6 May
The Fed hiked rates by 50 basis points. But Chair Jerome Powell’s comments briefly ignited a sharp rally across markets after saying that Fed wasn’t considering raising rates by 75 basis points in the near future. Assets rallied across the board on Wednesday after Powell’s comments; downplaying the likelihood of …
Read More »US equities rally as strong earnings push sentiment higher
US equities have enjoyed a strong tech-led rebound on Thursday after stronger than expected Meta Platforms earnings. The S&P 500 was last up nearly 3.0% and above 4,300 and the Nasdaq 100 was last up nearly 4.0%.But the major US indices remain on course to post hefty on-the-month losses and …
Read More »Microsoft earnings beat across the board
Microsoft shares fell 1% in extended trading on Tuesday even though the software maker issued fiscal third-quarter earnings that exceeded analysts’ expectations.Microsoft beat expectations on the top and bottom lines. The company announced plans in the quarter to buy Activision Blizzard for almost $69 billion. Microsoft also beat EPS and …
Read More »Market Drivers – US Session – 28 March
The gold price is down on the day, losing around 1.9% as the US stock market rises later in the day for a positive close in hopes of a breakthrough in peace talks surrounding the Ukraine crisis. The market mood was sour, helping the American dollar to end the day …
Read More »Wall Street’s Tuesday Session Generally Green.
The sell-off of US Treasuries continues, while the 10-year yield closes to 2.40%. US stocks recovered on Tuesday, following Monday’s hawkish remarks of Fed Chief Jerome Powell, who said that “inflation is too high” and opening the door for 50 basis points increases.The S&P 500 is advancing some 1.10%, sitting …
Read More »Market Drivers – US Session – 7 March 2022
Risk aversion continues as the major market driver amid the Russian invasion of Ukraine. The attacks have continued throughout the weekend, and a third round of cesefire talks has not eased the situation. Economic DataThe Investor Movement Index® (IMXSM) decreased to 6.79 in February, down from 7.07 in January. The …
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