dow jones

Gold inched higher as the dollar index hit a two-week low. The latest rebound has been checked by the psychological level of 1800. With the RSI showing an overbought situation, short-term buyers were swift in taking profit from this resistance on the daily chart. The pullback has met buying interest over 1760. There is an expectation for sideways action in the next few hours as traders wait for a breakout. A deeper correction would test the floor at 1730, while a higher high may send the precious metal to the triple top at 1830. EURGBP breaks below support The sterling soared after BOE Governor Bailey said that the central bank may act to contain inflation. Sentiment has become increasingly bearish over the euro after its break below August’s low at 0.8450. A bearish MA cross on the daily chart indicates an acceleration to the downside. An oversold RSI has led to a limited rebound towards 0.8485, which may turn out to be an opportunity to sell into strength. 0.8350 near February 2020’s lows would be the next target when momentum traders jump in to bid up the pound. US 30 recovers to previous peak The Dow Jones rallies as investors look past macro concerns and focus on earnings instead. The break above the supply zone around 35000 has prompted the bears to cover. The index then went on to recoup most losses from the September sell-off. With the short-side out of the picture, sentiment might have turned around. 35500 is a major resistance and a bullish breakout would resume the uptrend for new all-time highs. As the RSI suggests an overextension, 35050 is fresh support in case of retracement.

The euro surges as the market prices in inflation pressure despite the ECB’s dovish message. Bullish candles have pushed the single currency above the triple top (1.1665) which sits on the 30-day moving average, paving the way for a reversal. Strong momentum is a sign of short-covering from those caught on the wrong side of the market. An overbought RSI could temporarily limit the range of the rally. However, renewed optimism may send the pair to the daily resistance at 1.1750. 1.1620 is the support in case of a pullback. USDJPY tests demand zone The Japanese yen recouped losses after the BOJ sees a weak yen as positive for Japan’s economy. And the US dollar has come under pressure near a four-year high. An overbought RSI on the daily chart points to an overextension. On the hourly level, the pair has found bids around 113.30 near a previous consolidation range. A bearish breakout would test the round number at 113.00, which lies on the 20-day moving average and is critical in safeguarding the uptrend. The bulls need to lift 114.30 before they may resume the rally. US 30 pulls backs for support The Dow Jones consolidates as investors digest earnings near the all-time high. A breakout above the August peak at 35600 and a bullish MA cross from the daily timeframe indicate an acceleration on the upside as the rally continues. Pullbacks could be an opportunity to buy low. An overbought RSI has triggered a minor sell-off below 35600, shaking out weaker hands in the process. A drop below 35450 would lead to the psychological level of 35000. 35830 is now a fresh resistance.

Stock markets continue their shaky recovery. On Tuesday, intraday trading patterns in US equities point to a buying trend on declines. The S&P500 and Dow Jones indices rebounded from their 200-day simple moving average. Both indices were below those levels in the second half of January. Still, by the beginning of February, they managed to get back above them on the substantial buying activity of the retail investors. Yesterday's stock market dynamics slightly reduced the tension. Increased buying at the end of the session indicates a buying mood for professional market participants. There have been increasing reports from US investment banks that markets have already priced in a tight monetary policy scenario and will not press equity prices further. Moreover, BlackRock recently noted that markets had priced in overly hawkish expectations. The bond market also looks oversold, declining in previous weeks at the fastest pace since 2008. This is a good reason, at least for a technical rebound. In addition, buyers are supported by strong economic and wage growth, promising corporate earnings stability for the foreseeable future. The switch to a monetary tightening phase turns the market into a more frequent and deeper corrective pullback mode but does not trigger a bear market before a rate hike even begins. Strong fundamentals support a bullish technical picture, with a recovery from the strongest oversold S&P500 RSI and the ability to pop above the 200-day average. From this perspective, the January drawdown has cleared the way for growth, recharging buyers. On an equity level, we can see stabilisation and sharp upward moves in stocks that have been weak since June and shone in the pandemic before that: Peloton, Netflix, GameStop. In theory, this could be a dead cat bounce, but it reduces the selling pressure in blue-chip stocks such as Apple, Amazon, Microsoft, Google and straightens out the overall market sentiment.

Summary: The market's reaction to the Fed's announcement for the potential for further interest rate hikes. DJI, Bitcoin and USD Dow Jones rallied on friday The Dow Jones rallied during early trading on Friday. The market seems to be attempting to recover from the poor performance of the past week. This price increase comes after the Federal Reserve Chairman announced that two more 50 bp rises in interest rates are on the table for the next two Fed meetings. The daily rise is unlikely to rule out that the Dow Jones will end the trading week on an overall loss. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM DJI Price Chart US Dollar reacts well to the Fed's announcement On Friday the US Dollar strengthened further against its major rival, the Euro. In the wake of the Feds continuing hawkish attitude, the US Dollar is continuing on its strengthening path. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM The week for the US Dollar has been volatile, earlier in the week market participants were hesitant to place their confidence in the greenback whilst they awaited the U.S CPI report. When the report exceeded market participants expectations along with the Fed’s recent announcement regarding the likelihood of further interest rate hikes the US Dollar recovered and saw further strength. Bitcoin showing signs of recovery The price of Bitcoin has also recovered today after setting its lowest level since December 2021 on Thursday. The price of Bitcoin recovers back up to over $30,000. Whether or not this rally will continue is in question, especially with the volatility the markets saw this past week. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100. Bitcoin Price Chart Sources: investors.com, finance.yahoo.com

Summary: DJIA sees an overall increase on Tuesday. DEI Crypto loses is 1-to-1 US Dow Jones index rallies on Tuesday amidst retailers earning announcements Since the market opened on Tuesday, the Dow Jones has rallied almost 1%. This increase comes as U.S retail stocks beat investor estimates. Although Walmart's (WMT) stock fell after they made their earnings announcement on Tuesday, other retail stocks such as Home Depot, JD.com (JD), Sea (SE) and On Holding (ONON) saw gains causing an overall increase in the index. DJIA Price Chart Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Cryptocurrency DEI faces big losses on Tuesday In the current wider economic market, it has become clear to investors that cryptocurrency prices are in fact correlated to events on the stock market. UST and Luna have faced huge losses recently and another crypto seems to be following suit, DEI. DEI has just lost its 1-to-1 peg with the US Dollar and has lost 20% on the cryptocurrency market today. This fall created a mismatch and DEI’s collateral ratio dropped more than 40%, this makes the redemption of DEI coins due to the lack of capital backing the stable coin. The creators of DEI Deus Finance have suspended the coin redemption in an attempt to stabilize the coin's price. DEI Price Chart Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Sources: finance.yahoo.com, thestreet.com

Fear of a recession may be one of the reasons pushing risky asset prices lower. Yesterday alone, the Dow Jones fell 3.57 percent and the S&P 500 fell 4.04 percent, its biggest one-day drop since June 2020. The Nasdaq Composite was off 4.73 percent. The U.S. economy is mainly spinning thanks to consumption and largely living on credit Another turnaround on Wall Street came after the release of the results of U.S. big-box retail chains such as Wal-Mart and Target. The share price of the former fell by almost 25 percent from its April peak, and the latter by about 40 percent. Why is this important? The U.S. economy is mainly spinning thanks to consumption and largely living on credit. Decrease in consumption by higher inflation, as shown by the results of companies and their comments to the results, can therefore be a wake-up call that the US economy will no longer grow so rapidly. As a result, there has been an even greater fear of recession, which in the current inflationary environment brings to mind the stagflation of the 70s-80s in the United States. Add to that rising lending rates through interest rate hikes, broken supply chains and an expensive U.S. dollar eroding export profits. According to some, this is the perfect set of factors that could push the market further into the embrace of a waking bear market. Investors also might be looking for the point at which they believe the dollar and U.S. bonds have priced in a full cycle of rate hikes before the Fed In a more optimistic scenario, however, they may predict that inflation will peak in the second or third quarter of this year and then begin to decline starting in the fourth quarter of 2022. At that point, consumers could breathe a sigh of relief as prices would still rise, but no longer as fast as before. The same could be true for the stock market, which statistically, in cycles of interest rate hikes, seemed to create corrections in the first reaction and then continued earlier trends. Investors also might be looking for the point at which they believe the dollar and U.S. bonds have priced in a full cycle of rate hikes before the Fed. At that point, they could switch from the dollar to bonds or stocks, which could also put the brakes on the declines currently seen. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Since the beginning of the year alone, the Nasdaq index has fallen by 27 percent, the S&P 500 by more than 18 percent, and the Dow Jones by less than 15 percent. U.S. 10-year bonds have shrunk by 8 percent, and gold has fallen by 0.5 percent. Meanwhile, the U.S. dollar has gained about 8 percent. This could quite clearly show that the cash phase of the cycle may be underway. It may be followed, according to theory, by the bond phase of the cycle and only the equity phase of the cycle. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Summary: President Joe Biden's announcement of possible easing of tariffs on goods from China fairing well for U.S stocks. Euro expected to continue strengthening. Read next: Xpeng (XPEV) Earnings Results Cause Share Price To Fall  U.S stocks showing signs of recovery The Dow Jones Index rose almost 2% during the trading day on Monday. U.S stocks recovered on Monday in the wake of investors coming-off a 7 week losing streak. The recovery comes after investors received some fresh-trade related information from the Biden Administration. On Monday President Joe Biden announced that he was considering easing tariffs on Chinese goods due to the belief that the tariffs caused financial harm on consumers and businesses. DJIA Price Chart ECB Interest rate hike is confirmed The Euro exchange rate performed well on Monday thanks to the European Central Bank's president confirming that there will be interest rate hikes in July. The Euro responded well to this information and strengthened against both the US Dollar and the Pound. Leading up to the confirmation of the rising interest rates, the Euro had been strengthening, in the wake of the interest rates being risen, investors believe that the Euro will continue to strengthen. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Sources: finance.yahoo.com, poundsterlinglive.com Follow FXMAG.COM on Google News

Summary: Dow Jones industrial gains on Friday. GBP reacts well to Sunak’s stimulus package Read next: (COST) Costco Beats Market Expectations  DJIA sees relief on Friday The Dow 30 rose on Friday as signs of peaking inflation and consumer resilience instilled investor confidence entering the long weekend, backing positive attitudes towards tightening monetary policy. Investors may be leaning toward the Fed tightening monetary policy without tipping the US economy into a recession. The Dow Jones benefited from this market sentiment. Data released on Friday indicated that consumer spending exceeded market expectations and drove the DJIA upwards, which drove investor confidence higher. DJIA Price Chart Pound Sterling reacts well to Sunak’s announcement The GBP may have stabilised in the wake of Sunak´s announcement of a stimulus package, however, concerns that the UK economy is heading into a recession still looms. The stimulus to try and save the UK economy may be short lived, what the greater impact will be on the UK economy is still a concern going forward. Sources: finance.yahoo.com, poundsterlinglive.com

Summary: Dow 30 closes just above breakeven after a day of volatility. BoJ continues monetary easing. Read next: (AMZN) Amazon Stock Split Comes At A Bad Time  DOW 30 closes just above breakeven On Tuesday the Dow Jones experienced a lot of volatility, the mixed investor sentiment comes in the wake of retail giant Target giving the market a profit warning, which renewed investor concerns about the economic outlook. The Dow 30 is still in the green today as the index struggled to find a direction during Tuesday's trading session. The Dow closed just above breakeven on Tuesday. DJIA Price Chart Japanese Yen hits lows The Bank of Japan (BoJ) announced that they have no plans to tighten monetary policy to fight rising inflation, instead they will be continuing with monetary easing. This move has seemingly encouraged bearish sentiment for the safe-haven currency. The Governor indicated that the only way to fight the pressure the Japanese economy has been feeling from the income side in the wake of rising commodity prices is through monetary easing. This announcement put the USD/JPY currency pair almost at levels not seen since 1998. Sources: finance.yahoo.com, poundsterlinglive.com

Since 1990, the monthly moving averages for 10 and 30 periods have only crossed down two times. The first time was in 2001 and the second time was in 2008, but it's possible that a third cross lower could be seen later this year or early next year. These cross-overs to the downside are usually followed by quite a significant correction lower and that could easily be the case this time too. Taking into consideration, the overextended rally that was created due to the extreme ease of the money flow that followed the outbreak of COVID-19. Therefore, the risk is that another significant corrective decline will take place later this year or early next year.       Relevance up to 06:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291333

At the close on the New York Stock Exchange, the Dow Jones fell 0.55% to a one-month low, the S&P 500 fell 0.41%, and the NASDAQ Composite fell 0.74%. The leading performer among the components of the Dow Jones index today was Visa Inc Class A, which gained 0.88 points (0.45%) to close at 198.64. Boeing Co rose 0.57 points (0.38%) to close at 152.39. Johnson & Johnson rose 0.44 points or 0.27% to close at 163.18. The losers were 3M Company, which shed 5.05 points or 4.15% to end the session at 116.60. Intel Corporation was up 2.75% or 0.86 points to close at 30.36, while Goldman Sachs Group Inc was down 1.51% or 4.99 points to close at 326. .49. Leading gainers among the S&P 500 index components in today's trading were Rollins Inc, which rose 6.05% to 35.78, Enphase Energy Inc, which gained 4.93% to close at 292.82, and SolarEdge Technologies Inc, which rose 4.22% to end the session at 278.38. The biggest losers were Moderna Inc, which shed 6.13% to close at 130.08. Shares of Church & Dwight Company Inc shed 4.69% to end the session at 80.23. Leading gainers among the components of the NASDAQ Composite in today's trading were Shuttle Pharmaceuticals Inc, which rose 91.28% to hit 28.50, IVERIC bio Inc, which gained 66.31% to close at 15.70, and also shares of HyreCar Inc, which rose 58.12% to end the session at 1.27. Shares of Creatd Inc were the biggest losers, losing 48.11% to close at 0.19. Shares of Addentax Group Corp lost 39.52% and ended the session at 5.80. Quotes of Rigetti Computing Inc decreased in price by 37.09% to 2.29. On the New York Stock Exchange, the number of securities that fell in price (2121) exceeded the number of those that closed in positive territory (1009), while quotes of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,468 companies fell in price, 1,299 rose, and 194 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.54% to 26.91, hitting a new monthly high. Gold futures for December delivery lost 0.62%, or 10.75, to hit $1.00 a troy ounce. In other commodities, WTI October futures fell 0.14%, or 0.12, to $86.75 a barrel. Brent oil futures for November delivery fell 3.19%, or 3.05, to $92.69 a barrel. Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.24% to 0.99, while USD/JPY edged up 1.58% to hit 142.80. Futures on the USD index rose 0.66% to 110.24. Relevance up to 05:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/291695

  At the close of the New York Stock Exchange, the Dow Jones rose 0.61%, the S&P 500 rose 0.66% and the NASDAQ Composite rose 0.60%. Salesforce.com Inc was the leading gainer among the components of the Dow Jones index today, up 3.62 points or 2.36% to close at 156.90. JPMorgan Chase & Co rose 2.70 points or 2.33% to close at 118.60. Goldman Sachs Group Inc rose 4.82 points or 1.46% to close at 335.38. The losers were 3M Company shares, which lost 1.28 points or 1.06% to end the session at 119.27. Apple Inc was up 1.51 points (0.97%) to close at 154.45, while Honeywell International Inc was down 1.27 points (0.67%) to close at 187. 82. Leading gainers among the S&P 500 index components in today's trading were Regeneron Pharmaceuticals Inc, which rose 18.85% to 708.85, Freeport-McMoran Copper & Gold Inc, which gained 7.89% to close at 30 .62, as well as shares of Invesco Plc, which rose 4.77% to close the session at 17.36. The biggest losers were McCormick & Company Incorporated, which shed 6.71% to close at 79.30. Shares of Kraft Heinz Co lost 3.38% to end the session at 36.06. Quotes Campbell Soup Company fell in price by 2.98% to 47.84. Leading gainers among the components of the NASDAQ Composite in today's trading were ShiftPixy Inc, which rose 176.54% to 31.00, Amylyx Pharmaceuticals Inc, which gained 51.01% to close at 27.03, and shares of Rubius Therapeutics Inc, which rose 48.58% to close the session at 1.29. The drop leaders were Troika Media Group Inc, which shed 26.83% to close at 0.48. Shares of Ensysce Biosciences Inc shed 17.71% to end the session at 0.33. Quotes of Biophytis fell in price by 17.67% to 0.91. On the New York Stock Exchange, the number of securities that rose in price (1,743) exceeded the number of those that closed in the red (1,342), and quotes of 154 shares remained virtually unchanged. On the NASDAQ stock exchange, 2274 companies rose in price, 1485 fell, and 268 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.18% to 23.61. Gold Futures for December delivery lost 0.47%, or 8.20, to hit $1.00 a troy ounce. In other commodities, WTI October futures rose 0.99%, or 0.81, to $82.75 a barrel. Brent oil futures for November delivery rose 0.59%, or 0.52, to $88.52 a barrel. Meanwhile, in the Forex market, the EUR/USD pair remained unchanged, 0.01% to 1.00, while USD/JPY was up 0.25% to hit 144.05. Futures on the USD index fell 0.17% to 109.65. Relevance up to 05:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/292080

At the close in the New York Stock Exchange, the Dow Jones rose 0.71%, the S&P 500 index rose 1.06%, the NASDAQ Composite index rose 1.27%. The leading performer among the components of the Dow Jones index today was Apple Inc, which gained 6.06 points or 3.85% to close at 163.43. Quotes of American Express Company rose by 4.01 points (2.53%), closing the session at 162.45. Salesforce Inc rose 3.04 points or 1.87% to close at 165.63. The biggest losers were Amgen Inc, which shed 10.07 points or 4.07% to end the session at 237.62. Home Depot Inc was up 2.23 points (0.74%) to close at 297.54, while Johnson & Johnson was down 0.07 points (0.04%) to end at 165. .64. Leading gainers among the S&P 500 index components in today's trading were DXC Technology Co, which rose 5.98% to hit 28.36, APA Corporation, which gained 5.01% to close at 40.00, and shares of Fortinet Inc, which rose 4.20% to end the session at 55.84. The biggest losers were The Mosaic Company, which shed 6.76% to close at 52.44. Shares of Amgen Inc lost 4.07% to end the session at 237.62. Quotes of CF Industries Holdings Inc decreased in price by 4.05% to 99.48. Leading gainers among the components of the NASDAQ Composite in today's trading were Neurobo Pharmaceuticals Inc, which rose 101.30% to hit 0.56, InMed Pharmaceuticals Inc, which gained 70.42% to close at 18.78, and also shares of Ventyx Biosciences Inc, which rose 64.98% to end the session at 38.11. The biggest losers were Tuesday Morning Corp, which shed 31.19% to close at 0.19. Shares of WeTrade Group Inc lost 30.19% and ended the session at 1.11. Akari Therapeutics PLC was down 27.88% to 0.75. On the New York Stock Exchange, the number of securities that rose in price (2,360) exceeded the number of those that closed in the red (764), while quotes of 160 shares remained virtually unchanged. On the NASDAQ stock exchange, 2431 companies rose in price, 1384 fell, and 259 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 4.74% to 23.87. Gold futures for December delivery added 0.43%, or 7.45, to $1.00 a troy ounce. In other commodities, WTI crude for October delivery rose 1.36%, or 1.18, to $87.97 a barrel. Brent oil futures for November delivery rose 1.44%, or 1.34, to $94.18 a barrel. Meanwhile, on the Forex market, EUR/USD rose 0.81% to hit 1.01, while USD/JPY edged up 0.21% to hit 142.82. Futures on the USD index fell 0.60% to 108.08.       Relevance up to 05:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/292447

  At the close on the New York Stock Exchange, the Dow Jones fell 3.94% to a one-month low, the S&P 500 fell 4.32%, and the NASDAQ Composite fell 5.16%. Chevron Corp was the top gainer among the components of the Dow Jones index today, losing 3.09 points or 1.90% to close at 159.41. Quotes of The Travelers Companies Inc fell by 3.11 points (1.88%) to end trading at 162.22. Walmart Inc lost 2.85 points or 2.06% to close at 135.22. The losers were Boeing Co shares, which lost 11.41 points or 7.19% to end the session at 147.31. Intel Corporation was up 2.27 points (7.19%) to close at 29.29, while Home Depot Inc was down 19.61 points (6.59%) to close at 277. 93. Leading gainers among the S&P 500 index components in today's trading were Corteva Inc, which rose 0.87% to hit 62.65, Twitter Inc, which gained 0.70% to close at 41.70, and shares CF Industries Holdings Inc, which rose 0.67% to end the session at 100.15. The biggest losers were Eastman Chemical Company, which shed 11.34% to close at 84.11. Shares of NVIDIA Corporation lost 9.47% and ended the session at 131.31. Quotes of Meta Platforms Inc decreased in price by 9.37% to 153.13. Leading gainers among the components of the NASDAQ Composite in today's trading were Akero Therapeutics Inc, which rose 136.76% to hit 29.05, Aditx Therapeutics Inc, which gained 113.75% to close at 0.37, and also shares of Comera Life Sciences Holdings Inc, which rose 100.00% to end the session at 3.86. The biggest losers were Cardiff Oncology Inc, which shed 41.12% to close at 1.89. Shares of Rent the Runway Inc shed 38.74% to end the session at 3.02. Quotes of InMed Pharmaceuticals Inc decreased in price by 35.73% to 12.07. On the New York Stock Exchange, the number of securities that fell in price (2827) exceeded the number of those that closed in positive territory (354), while quotes of 82 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,015 stocks fell, 811 rose, and 188 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 14.24% to 27.27, hitting a new monthly high. Gold futures for December delivery lost 1.64%, or 28.50, to hit $1.00 a troy ounce. In other commodities, WTI October futures fell 0.26%, or 0.23, to $87.55 a barrel. Brent oil futures for November delivery fell 0.67%, or 0.63, to $93.37 a barrel. Meanwhile, on the Forex market, EUR/USD fell 1.44% to hit 1.00, while USD/JPY edged up 1.23% to hit 144.59. Futures on the USD index rose 1.37% to 109.58. Relevance up to 05:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/292655

At the close in the New York Stock Exchange, the Dow Jones rose 0.10%, the S&P 500 rose 0.34%, and the NASDAQ Composite rose 0.74%. Chevron Corp was the top gainer among the components of the Dow Jones index today, up 3.86 points or 2.42% to close at 163.27. Quotes Johnson & Johnson rose by 3.33 points (2.06%), ending trading at 164.66. Merck & Company Inc rose 1.36 points or 1.59% to close at 86.95. The losers were shares of Honeywell International Inc, which lost 5.01 points or 2.71% to end the session at 179.97. 3M Company was up 2.44% or 2.94 points to close at 117.53, while Dow Inc was down 1.67% or 0.80 points to close at 47.07. . Leading gainers among the S&P 500 components in today's trading were Coterra Energy Inc, which rose 7.22% to hit 32.23, APA Corporation, which gained 6.72% to close at 41.74, and shares of Moderna Inc, which rose 6.17% to end the session at 139.40. The biggest losers were Nucor Corp, which shed 11.31% to close at 120.71. Shares of Centene Corp lost 6.79% to end the session at 83.92. Quotes of DISH Network Corporation decreased in price by 6.27% to 17.18. Leading gainers among the components of the NASDAQ Composite in today's trading were Avenue Therapeutics Inc, which rose 53.87% to hit 0.36, Aileron Therapeutics Inc, which gained 38.49% to close at 0.27, and also shares of Dawson Geophysical Company, which rose 41.44% to close the session at 1.57. The biggest losers were Neurobo Pharmaceuticals Inc, which shed 43.61% to close at 16.86. Shares of Vintage Wine Estates Inc shed 40.33% to end the session at 3.30. Quotes of Aditx Therapeutics Inc decreased in price by 38.22% to 11.43. On the New York Stock Exchange, the number of securities that rose in price (1,578) exceeded the number of those that closed in the red (1,506), while quotes of 124 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,956 stocks fell, 1,770 rose, and 254 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.07% to 26.16. Gold futures for December delivery lost 0.63%, or 10.90, to hit $1.00 a troy ounce. In other commodities, WTI October futures rose 1.68%, or 1.47, to $88.78 a barrel. Brent oil futures for November delivery rose 1.23%, or 1.15, to $94.32 a barrel. Meanwhile, in the forex market, the EUR/USD pair was unchanged 0.08% to 1.00, while USD/JPY fell 0.97% to hit 143.15. Futures on the USD index fell 0.15% to 109.36.   Relevance up to 05:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/292844

At the close of the New York Stock Exchange, the Dow Jones fell 0.56% to a one-month low, the S&P 500 fell 1.13% and the NASDAQ Composite fell 1.43%. UnitedHealth Group Incorporated was the top performer in the Dow Jones Index today, up 13.14 points or 2.58% to close at 522.91. JPMorgan Chase & Co rose 1.75 points or 1.51% to close at 117.87. Goldman Sachs Group Inc rose 4.36 points or 1.33% to close at 331.62. The losers were Salesforce Inc, which shed 5.50 points or 3.43% to end the session at 154.78. Microsoft Corporation was up 2.71% or 6.84 points to close at 245.38, while Visa Inc Class A was down 2.03% or 4.04 points to close at 195. .37. Leading gainers among the S&P 500 index components in today's trading were Humana Inc, which rose 8.37% to 497.24, Wynn Resorts Limited, which gained 7.48% to close at 65.23, and shares of Paramount Global Class B, which rose 5.16% to close the session at 23.05. The losers were Adobe Systems Incorporated, which shed 16.79% to close at 309.13. Shares of Albemarle Corp shed 6.49% to end the session at 286.75. West Pharmaceutical Services Inc lost 5.91% to 273.63. Leading gainers among the components of the NASDAQ Composite in today's trading were Heartbeam Inc, which rose 85.60% to hit 2.32, Neurobo Pharmaceuticals Inc, which gained 47.21% to close at 24.82, and shares of Nabriva Therapeutics AG, which rose 40.65% to end the session at 0.27. The drop leaders were Shuttle Pharmaceuticals Inc, which shed 55.65% to close at 16.63. Shares of Eloxx Pharmaceuticals Inc lost 40.97% to end the session at 0.22. Quotes Color Star Technology Co Ltd fell in price by 39.54% to 0.07. On the New York Stock Exchange, the number of securities that fell in price (2188) exceeded the number of those that closed in positive territory (909), and quotes of 125 shares remained virtually unchanged. On the NASDAQ stock exchange, 1991 stocks fell, 1759 rose, and 265 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.42% to 26.27. Gold futures for December delivery lost 2.08%, or 35.55, to hit $1.00 a troy ounce. In other commodities, WTI October futures fell 3.84%, or 3.40, to $85.08 a barrel. Brent oil futures for November delivery fell 3.56%, or 3.35, to $90.75 a barrel. Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.20% to 1.00, while USD/JPY was up 0.23% to hit 143.48. Futures on the USD index rose by 0.06% to 109.44.     Relevance up to 05:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/293021

At the close in the New York Stock Exchange, the Dow Jones fell 1.11% to hit a 52-week low, the S&P 500 fell 1.03%, and the NASDAQ Composite fell 0.60%. Walmart Inc was the top gainer among the components of the Dow Jones index today, up 1.25 points (0.96%) to close at 131.31. Apple Inc rose 0.34 points (0.23%) to close at 150.77. Procter & Gamble Company rose 0.13 points or 0.10% to close at 135.71. The biggest losers were The Travelers Companies Inc, which shed 4.88 points or 3.14% to end the session at 150.60. Boeing Co was up 2.99% or 3.92 points to close at 127.34, while Chevron Corp was down 2.63% or 3.81 points to close at 140.96. . Leading gainers among the components of the S&P 500 in today's trading were Wynn Resorts Limited, which rose 11.99% to 66.80, Las Vegas Sands Corp, which gained 11.81% to close at 39.66. as well as Costco Wholesale Corp, which rose 2.98% to end the session at 480.30. The losers were DISH Network Corporation, which shed 6.12% to close at 14.27. Shares of The AES Corporation shed 5.48% to end the session at 22.96. Quotes of Halliburton Company decreased in price by 5.17% to 23.31. Leading gainers among the components of the NASDAQ Composite in today's trading were LAVA Therapeutics NV, which rose 97.50% to 4.74, DIRTT Environmental Solutions Ltd, which gained 42.87% to close at 0.45. as well as shares of Panbela Therapeutics Inc, which rose 25.96% to close the session at 0.34. The biggest losers were Powerbridge Technologies Co Ltd, which shed 68.57% to close at 0.50. Shares of Scienjoy Holding Corp lost 43.77% to end the session at 1.67. Quotes of Snow Lake Resources Ltd fell in price by 40.88% to 1.88. On the New York Stock Exchange, the number of securities that fell in price (2652) exceeded the number of those that closed in positive territory (536), while quotes of 132 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,592 stocks fell, 1,248 rose, and 275 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 7.82% to 32.26, hitting a new 3-month high. Gold futures for December delivery lost 1.56%, or 25.90, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 2.82%, or 2.22, to $76.52 a barrel. Futures for Brent crude for December delivery fell 2.81%, or 2.39, to $82.64 a barrel. Meanwhile, in the Forex market, EUR/USD fell 0.84% to hit 0.96, while USD/JPY edged up 0.94% to hit 144.66. Futures on the USD index rose by 0.98% to 114.07.   Relevance up to 05:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/294320

Today we will look at the long-term chart of the Dow Jones Index dating back to 1921, but the period we would like to focus on is from the 1932 low at 40.56 to the peak on January 2022 at 36,952. If our long-term count is correct, then we have a complete five-wave rally. A corrective decline that will take years has begun. Looking at the major corrections of 1932 - 2022 (90 years), we see the first correction from 1937 - 1942 (5 years). The next major correction stretched from 1966 to 1974 (8 years). Then, we had the 2000 to 2009 correction (8-9 years). Now the index is going through a correction as well. This correction is of a larger degree and therefore is likely to take at least 8 years and possibly even longer. The expected correction doesn't have to be very deep, but the rally from 40.56 to 36,952 does open up for a decline to near the bottom of wave 4 which was the 2009 low. If that is seen, then it is likely to terminate near 7,363, but a decline closer to the 50 to 61.8% corrective targets at 18,303 or maybe even closer to 13,993 is the most likely scenario, though that's also quite a distance to cover from the present 29,684 level. We are braced for hard times in the years ahead with some major changes to the society as we know it today.   Relevance up to 07:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294749

At the close in the New York Stock Exchange, the Dow Jones fell 1.54%, the S&P 500 fell 2.11% and the NASDAQ Composite fell 2.84%. The leading gainers among the components of the Dow Jones index today were The Travelers Companies Inc, which gained 1.76 points (1.15%) to close at 154.68. Visa Inc Class A rose 0.88 points or 0.49% to close at 180.06. Merck & Company Inc shed 0.14 points or 0.16% to close at 86.64. The losers were Boeing Co shares, which lost 8.11 points or 6.08% to end the session at 125.33. Walgreens Boots Alliance Inc was up 4.97% or 1.65 points to close at 31.55 while Apple Inc was down 4.91% or 7.36 points to end at 142. .48. Among the S&P 500 index components gainers in today's trading were Everest Re Group Ltd, which rose 3.07% to 267.41, STERIS plc, which gained 2.76% to close at 167.29, and also shares of W. R. Berkley Corp, which rose 2.73% to end the session at 65.18. The biggest losers were CarMax Inc, which shed 24.60% to close at 65.16. Shares of SolarEdge Technologies Inc lost 8.27% to end the session at 235.56. Quotes of Royal Caribbean Cruises Ltd decreased in price by 7.91% to 43.64. Leading gainers among the components of the NASDAQ Composite in today's trading were Senti Biosciences Inc, which rose 50.71% to hit 2.11, Avalon Globocare Corp, which gained 25.85% to close at 0.70, and also shares of TuanChe ADR, which rose 25.31% to close the session at 3.07. The biggest losers were Atlis Motor Vehicles Inc, which shed 54.82% to close at 33.95. Shares of Lion Group Holding Ltd lost 49.25% and ended the session at 1.01. Quotes of Twin Vee Powercats Co decreased in price by 29.01% to 2.52. On the New York Stock Exchange, the number of securities that fell in price (2631) exceeded the number of those that closed in positive territory (530), while quotes of 112 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,842 stocks fell, 956 rose, and 224 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 5.50% to 31.84. Gold futures for December delivery lost 0.07%, or 1.20, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 0.55%, or 0.45, to $81.70 a barrel. Futures for Brent crude for December delivery fell 0.55%, or 0.48, to $87.57 a barrel. Meanwhile, in the Forex market, EUR/USD rose 0.70% to hit 0.98, while USD/JPY edged up 0.21% to hit 144.46. Futures on the USD index fell 0.36% to 112.11.  Go to dashboard   Relevance up to 05:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/294915

Summary:  Fresh lows return in US equities with more hawkish Fed comments and fear of earnings downgrades picking up as the Q3 earnings season draws closer. Cable extended its rally despite UK PM’s commitment to fiscal plan and weakening BOE hike expectations, while the EUR gained strength on the back of hot German CPI and uptick in ECB rate hike expectations. Talks of OPEC+ production cuts are gaining momentum, and focus today will be on China PMIs. Also watch for Eurozone CPI, US PCE data as well as Putin’s speech in the day ahead. What is happening in markets? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) fall to 22-month lows US stocks sank to their lowest levels since November 2020 after another round of Fed speakers continued with hawkish remarks, while oil maintained gains on expectations of OPEC+ cuts. Nasdaq 100 was down almost 4% at one point, but trimmed the losses before closing 2.9% lower, while the broader S&P500 met a similar fate nearing 3,600 before ending 2.1% down. All 11 sectors of the S&P 500 dropped, with Utilities falling the most and followed by Consumer Discretionary. Retail favorites Tesla (TSLA) and Apple  (AAPL)  led the declines falling 6.8% and 4.9% while chip makers followed with AMD (AMD) down 6.2% with PC demand falling away. On the upside, oil stocks like Devon Energy (DVN), and Diamondback Energy (FANG) and Occidental (OXY) moved higher. Separately the European Commission announced an eight package of sanctions that would include a price cap on Russia’s oil exports. U.S. treasury yields (TLT:xnas, IEF:xnas, SHY:xnas) climbed again After plunging sharply the day before on the Bank of England move, yields of U.S. treasury securities rose, with the 10-year note yields rising 6bps to 3.79% on Thursday.  Yields initially crept higher on bounces of U.K. Gilt yields and higher German regional CPI data, but paring their rise in the afternoon.  Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong and mainland equity markets opened higher on Thursday and pared the gain through the day and settled moderately lower, with the Hang Seng Index down by 0.5%, and CSI300 little changed. The news of the imposition of a 3-day mandatory PCR test in the financial district, Lujiazui in Shanghai due to one new Covid-19 case triggered some fears among investors. In spite of PBoC’s supportive statement coming out from its quarterly monetary meeting saying that the central bank will expand its special lending program to ensure the delivery of delayed housing projects, Chinese developers declined, with Country Garden (02007:xhkg) plunging 11.6%, Longfor (00960:xhkg) down by 7.5%, and CIFI (00884:xhkg) tumbling 16.3%.  Chinese EV maker, Zhejian Leapmotor (09863:xhkg), tumbled 33.5% in its first day of trading after an IPO priced at the bottom of a guided range.  XPeng (09868:xhkg) dropped 5.3%.  Trading in the China Internet space was mixed with Alibaba outperforming (+2.9%). Australia’s ASX200 (ASXSP200.1) likely to follow Wall Street lower: futures suggest a 0.3% fall today, aluminum stocks to be bright spark As above, on the ASX today, it’s worth keeping an eye on aluminum related stocks on the ASX including Rio Tinto (RIO) and Alumina (AWC). Meanwhile, diversified miners including the major retail favorites, like BHP (BHP) are worth watching after the Iron Ore (SCOA) price remains supported with China ramping up housing support. This morning the iron ore price (SCOA, SCOV2) pushed up ~1.1% to US$96.50. In NY BHP closed 0.6% higher, implying the ASX primary listing of BHP will likely move up, especially after the aluminum and iron ore prices rose. Cable stays bid and Euro follows The US 10-year yields as well as the dollar could not catch a strong bid on Thursday, which helped other G10 currencies gain some ground. Sterling was the strongest on the G10 board, with GBPUSD now testing 1.12 in early Asian hours. BOE’s emergency bond-buying measures however hints at a push lower in gilt yields, and GBP will likely come back under pressure if the surge in global yield resumes. This will need a focus shift back on Fed tightening as we think there is still some room for upward repricing of terminal rate Fed expectations and higher-for-longer rates. Meanwhile, expectations for an ultra-aggressive BOE hike in November cooled slightly. EURUSD also surged above 0.98 with ECB rate hike expectations for October meeting picking up after the hot German inflation, and with the ECB downplaying the chance of an emergency move to prop up Italian bonds. EURGBP was however lower from 0.8950 to 0.88. Aluminum and aluminum stocks on watch It’s worth watching aluminium related shares across the Asian-Pacific region today after the record jump in Aluminum price on the LME after Bloomberg reported plans to discuss a potential ban on new Russian metal supplies. The metal jumped 8.5% (its biggest intraday jump in record) before paring back. Crude oil (CLU2 & LCOV2) prices maintain gains Crude oil prices maintained the momentum with OPEC+ production cuts becoming a key factor going into the next week’s meeting. OPEC+ commenced discussions around an output cut with one saying it a cut is “likely”, according to Reuters sources. This comes after previous reports that Russia will likely propose OPEC+ reduces output by around 1mln BPD. Demand conditions are likely to weaken as global tightening race heats up, and this has prompted expectations for a supply cut as well. Brent futures touched $90/barrel mark but reversed slightly later, while WTI futures rose to $83/barrel before some decline later in the session.   What to consider? German inflation sparks EZ inflation fears German inflation touched double digits, as it came above consensus at 10.9% YoY for September from 8.8% YoY previously. Germany is also preparing to borrow an additional €200 billion to finance a plan to limit the impact of soaring energy costs, which could keep consumption high even as shortages loom. Up today will be the September eurozone inflation print. Expect a new record which will increase the pressure on the European Central Bank to hike interest rates by at least 75 basis points in October. The economist consensus expects that the headline harmonized index of consumer prices (HICP) will reach 9.7% YoY against 9.1% in August. The core rate is expected to climb to 5.6% YoY against 5.5% previously. The spread between the headline and the core inflation figures is mostly explained by a decrease in oil and natural gas prices in recent months. However, this is clear that inflation is becoming broad-based, including in the services sector. This means that inflation is here to stay for long. The HICP is likely to continue increasing in the coming months. A peak in inflation in the eurozone is possible in the first quarter of 2023, in our view. This is much later than in the United States. Fed speakers push for more hikes Loretta Mester remains more hawkish than the Fed’s median dot plot, and said that rate are not in restrictive territory yet and more rate hikes will be needed. No signs of concern on economy or dollar strength were noted, while inflation remained the key point of concern for her. James Bullard also made some key comments on ‘bad idea to mess’ with the inflation target while the labor market conditions remain tight and recession is only a risk. Mary Daly was more cautious, saying officials should work to avoid "inducing a deep recession." However, she still raised the bar on expectations on the Fed funds rate saying that she is comfortable with median Fed rate path projection of 4%-4.5% by year end, 4.5%-5% in 2023 (pointing to upside risks as the dot plot suggested 4.6%, or 4.5-4.75% if we talk in ranges). US initial claims come in strong again Initial claims came in lower than expected at 193k with last week’s also revised lower to 209k from 213k. Continued claims cooled to 1.347mln from 1.376mln despite the expected rise to 1.388mln. The data shows how tight the labour market is in the US and Fed's Bullard labelled today's claims metric as "super low". Meanwhile, the third estimate of Q2 GDP was confirmed to decline 0.6%, notably with consumer spending revised higher to 2% from 1.5% previously. Australian inflation rose 7% in the year to July, based on new monthly CPI At this rate it doesn’t appear CPI will peak at just shy of the 8% the RBA forecasts, given price pressures have resumed this month from the largest inflation contributors. Based on the ABS’s new monthly CPI print, some of the largest price jumps year-on-year to July were in fuel (+29.2%) and fruit & vegetables (+14.5%). The concern is that, with La Nina set to hit Australia and population growth continuing, food and housing (rent) prices will continue to rise apace. In September alone, contributors to food prices have risen markedly, as the global supply outlook has weakened amid poor crop conditions. This could tilt the RBA back toward a more hawkish stance. Australian rents to drive higher, adding to inflation woes Australia’s population growth resumed after borders reopened and business employment remains strong for the time being, at 50-year highs. New office and residential supply is expected be subdued in 2023 as interest rates rise; which supports the notion of falling vacancy rates. According to Colliers and the ABS, Sydney CBD rents rose 3.6% to $5.22 per square foot in the June quarter, driven by competition for top-quality office space. China’s manufacturing PMIs are expected to stay in the contractionary territory China’s September official NBS Manufacturing PMI and Non-manufacturing PMI as well as the Caixin China Manufacturing PMI are scheduled to release today. The median forecast of, economists surveyed by Bloomberg for the NBS Manufacturing PMI is 49.7 for September, a modest improvement from August’s 49.4 but remains in contraction territory.  Economists cite the lockdown of Chengdu and restrictive measures in some other cities during most part of the month and the weak EPMI released earlier as reasons for expecting the NBS Manufacturing PMI to stay below 50.  The Caixin Manufacturing PMI, which has a larger weight in coastal cities in the eastern region, is expected to remain at 49.5 as export-related manufacturing activities and container throughput were weak.  The consensus estimate for the NBS Non-manufacturing PMI is 52.4, staying in the expansionary territory, supported by infrastructure construction but slowing slightly in September from August’s 52.6 due to weakness in the housing sector.  On the other hand, steel production and demand data in September suggest the PMIs may potentially surprise the upside. Buying activity up in food and Agricultural instruments, stocks and ETFs Food prices are supported higher as the global crop outlook dampens for 4 reasons; concern lingers over Ukraine’s exports being cut off, South America has been hit by rains and frosts, the US has been plagued by drought and dry conditions and as Hurricane Ian made landfall in the, US conditions are likely to go from bad to worse. And lastly - La Nina is expected to hit Australia for the third year in a row. So we are seeing clients buy into Wheat and Corn. Both prices are up 20% off their lows. Secondly, buying has been picking up in agricultural stocks like General Mills (GIS) and GrainCorp (GNC). And lastly, clients are biting into agricultural ETFs like Invesco DB Agriculture Fund (DBA) and iShares MSCI Agricultural Producers ETF (VEGI). Fed preferred inflation measure, US PCE, on the radar today The Fed’s preferred inflation measure, the PCE is due today, and it will likely echo the same message as given by the last strong CPI number which has made the Fed even more hawkish in the last few weeks since the Jackson Hole. Headline numbers may be lower due to the decline in gasoline prices, but the price pressure on services side will likely broaden further. Last week, the Fed also raised its forecasts for inflation, with the central bank now seeing core PCE at 4.5% by the end of this year (it previously projected 4.3%), moderating to 3.1% next year and at 2.1% at the end of its forecast horizon in 2025, but thinks that headline PCE prices will be at its 2% target by then. Putin's speech due today after Russia annexed parts of Ukraine Vladimir Putin will address legislators after Russia signs treaties today to absorb four occupied regions, with Ukrainian forces threatening to encircle a pocket of the Donbas region. There is also growing resistance to Putin’s decision to call up 300,000 reservists. Market focus will likely be on Putin’s warnings to the West about any potential threats of using nuclear weapons, which may mean risk aversion getting another leg up. Nike sank on concerns about inventory build-up and margins Nike (NKE) reported slightly better than expected revenues and inline earnings but below expectation gross margins and a 65% surge in inventories for the North American market.  In the earnings call, the company’s CFO pledged to take “decisive action to clear excess inventory” and such efforts will have “a transitory impact on gross margins this fiscal year”.  Investors took note of the implication on demand and profitability and sold stock to more than 9% lower in the extended hour trading. Apple fell on analyst downgrade After being sold on the company’s announcement to back off plans to increase iPhone production this year on the day before, Apple’s shares fell another 4.9% yesterday after an analyst downgrade from a U.S. investment bank.  In this Market Daily Insights piece yesterday, we mentioned the warnings from Peter Garnry, Saxo’s Head of Equity Strategy, about the likelihood that Apple’s revenue could slip into negative growth for the current quarter ending Sep 30 and you can find more details of his analysis from here. In his note, Peter also warns that analysts may be way off in their estimates for the S&P 500 for Q3 and it is highly probable that there will be significant misses to the downside followed by gloomy comments from company management about the outlook on margins.     For a week-ahead look at markets – tune into our Saxo Spotlight. For a global look at markets – tune into our Podcast. Source: https://www.home.saxo/content/articles/equities/market-insights-today-30-sept-30092022

Summary:  After celebrating the injection of liquidity from the Bank of England on Wednesday, global markets swooned again yesterday, taking the major US indices. Elsewhere, sterling has recovered most of the lost ground since the announcement of last week’s tax cuts on the stabilization of the gilt market, with other major sovereign yields also easing lower. The drop in yields and a consolidation in the US dollar have supported gold, which is poking higher toward important resistance.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) US equities traded lower yesterday after hawkish remarks from Mester and Bullard that policy rates will stay higher for longer than what the market is expecting (pricing in). In addition, the market is increasingly at edge with the expectation that Russia will annex four regions of Ukrainian territory because the fear is that it could escalate the war to new levels. Nasdaq 100 futures are most sensitive to the hawkish Fed messages and tumbling growth outlook, so watch this index going into the weekend. Nasdaq 100 futures are trading around the 11,265 level this morning and 11,000 is naturally the big next level on the downside in case selling resumes into the weekend. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong and mainland China markets were treading water ahead of the week-long National Day golden week holiday. Chinese developers rallied to recoup some of the recent losses following PBoC’s supportive statement coming out of its quarterly monetary meeting saying that the central bank will expand its special lending program to ensure the delivery of delayed housing projects. Country Garden (02007:xhkg) rebounded 10% after plunging 11% yesterday. Chinese EV maker, Zhejian Leapmotor (09863:xhkg), tumbled another 11% after having tumbled 33.5% yesterday on its first day of trading. Other Chinese EV names traded in the Hong Kong bourses plunged from 2% to 9%. Strong USD fades as bond yields punched lower The weak US dollar suggests that the market was more focused on rising US treasury yields during the recent upswing than the accompanying risk sentiment deterioration: yesterday, the USD weakened sharply as yields were flat to lower while risk sentiment was in the dumps. Hard to tell if some end-of-month/quarter rebalancing through today might be in play as well. A proper reversal of the recent USD bull move would require far more weakness, for example: EURUSD back above the 0.9900-0.9950 area and AUDUSD above perhaps 0.6700 (more on GBPUSD below). Next week features a full line-up of key US macro data and should bring a test of the USD’s status. Was that the climax for sterling bear market? Too early to draw conclusions here, as sterling has not yet recovered sufficient ground in the most important EURGBP and GBPUSD pairs to suggest that we have seen a climax reversal, although overnight, GBPUSD did reverse the entire plunge sparked by the announcement of the special budget last Friday by Chancellor Kwarteng, which started around 1.1200. Arguably, a close above 1.1200-1.1250 suggests a chance over reversal, though really 1.1500 was a more significant starting point for the recent slide. For EURGBP, the key support/pivot zone is 0.8750-0.8700. While there was nothing specifically supportive about the Bank of England’s emergency QE, if the logic is that the BoE saved the system from a financial crisis and that the exercise demonstrated that quantitative tightening will prove impossible elsewhere eventually (and therefore the BoE is only the first of many), sterling’s situation looks less bad if other central banks eventually follow suit. Gold (XAUUSD) Gold continues to rebound from key support at $1615 with the focus now being the critical resistance zone into 1,680-1,700 that is the departure point for this latest bear market move. While global bond yields and the USD will continue to lead the way as coincident indicators, the market has held up relatively well with geopolitical concerns (Putin’s N threat) and investors increasingly worried the FOMC with its hawkish actions may break the currency and bond market. Some signs of that were seen this week with some extreme moves in local bond and currency markets. Speculators hold a rare net short in COMEX gold futures and any further strength will trigger short covering, while total holdings in ETFs backed by bullion have declined to a 30-month low. Crude oil (CLX2 & LCOX2) Crude oil is heading for its first albeit small weekly gain in five and the first quarterly drop since 2020. The market remains troubled by forces pulling prices in opposite direction, and while the strong dollar, surging yields, and continued lockdowns in China have raised demand worries, the risk to supply continues to be a supporting theme. That focus returned on Thursday when OPEC+ said a production cut would be discussed at next week's meeting with Russia proposing a 1 mln barrels per day cut, a reduction towards which they are unlikely to contribute much as they are already producing below their quota. In addition, the combination of Russian sanctions and embargo and the US pausing its sales from strategic reserves will continue to dampen the downside risks. US treasuries (TLT, IEF) US treasury yields remained calm yesterday as we can infer that the recent wild ride in UK gilts had triggered contagion into US treasury yields, likely aggravating the recent rise toward 4.00% for the 10-year treasury benchmark before the BoE’s emergency efforts took major sovereign yields back lower. US macro data next week, including the ISM surveys and the September jobs report next Friday, will be key for the direction in US yields, with the major 3.50% level, the June high, the key downside pivot point. What is going on? Apple shares (AAPL:xnas) crater after the company announced it will skip production increase and on analyst downgrade Apple shares ended the day nearly 5% lower, helping to drag the broader market lower as it is world’s largest company by market capitalization. A Bank of America analyst cut the rating on the company to “neutral” from “buy”. Apple’s demand is hurt by the cost-of-living crisis and the earnings outlook last night from the chip manufacturer Micron Technology is indicating that demand is coming down fast. Fed speakers push for more hikes Cleveland Fed president Loretta Mester (voter this year) remains more hawkish than the Fed’s median dot plot and said that rates are not in restrictive territory yet and more rate hikes will be needed. No signs of concern on economy or dollar strength were noted, while inflation remained the key point of concern for her. St. Louis Fed president James Bullard, likewise a voter this year, said it was a ‘bad idea to mess’ with the inflation target while labor market conditions remain tight and recession is only a risk. San Francisco Fed president Mary Daly (voter in 2024) was more cautious, saying officials should work to avoid "inducing a deep recession." However, she still raised the bar on expectations on the Fed funds rate saying that she is comfortable with median Fed rate path projection of 4%-4.5% by year end, 4.5%-5% in 2023 (pointing to upside risks as the dot plot suggested 4.6%, or 4.5-4.75% if we talk in ranges). Eurozone inflation is set to hit a new record in September The September eurozone inflation will be released today. Expect a new record which will increase the pressure on the European Central Bank to hike interest rates by at least 75 basis points in October. The economist consensus expects that the headline harmonized index of consumer prices (HICP) will reach 9.7 % year-over-year against 9.1 % in August. The core rate is expected to climb to 5.6 % year-over-year against 5.5 % previously. The spread between the headline and the core inflation figures is mostly explained by a decrease in oil and natural gas prices in recent months. However, this is clear that inflation is becoming broad-based, including in the services sector. This means that inflation is here to stay for long. The HICP is likely to continue increasing in the coming months. A peak in inflation in the eurozone is possible in the first quarter of 2023, in our view. This is much later than in the United States.  Earnings recap (H&M, Nike, and Micron) H&M delivered a big miss yesterday on operating profit as input costs surprised to the upside. H&M is starting charging for online returns to save costs and the demand in China is still weak due to H&M’s challenging position in the country. Nike surprised positively on revenue but missed on earnings against estimates as margin compression has begun, and the company’s inventory is building up fast creating a potential headache going forward as consumer demand is expected to decline in the coming quarters. Micron delivered a shocking outlook for the current quarter with revenue expected at €4-4.5bn vs est. €6bn. CEE currencies under strain, likely on geopolitical unease CEE currencies are under significant pressure since the news of the pipeline explosions this week – this was likely triggered by the sabotage of the Nord Stream pipelines to Germany, which could be a prelude to the cutting off of other pipelines from Russia. EURHUF has pulled above 420 for the first time ever, EURPLN yesterday spiked to the highest level since the timeframe just after the breakout of war in Ukraine.  Hungary continues to not support new sanction efforts against Russian energy imports. In Prague, protests have broken out against the country’s energy policy, while EURCZK remains sedated by heavy Czech central bank intervention. US initial claims come in strong again Initial claims came in lower than expected at 193k with last week’s also revised lower to 209k from 213k. Continued claims cooled to 1.347mln from 1.376mln despite the expected rise to 1.388mln. The data shows how tight the labour market is in the US and Fed's Bullard labelled today's claims metric as "super low". Meanwhile, the third estimate of Q2 GDP was confirmed to decline 0.6%, notably with consumer spending revised higher to 2% from 1.5% previously. Aluminium prices bolt higher; fuelling a rally in major mining companies Aluminum prices on the London Metal Exchange briefly jumped by a record 8.5% on Thursday before retracing lower. The sudden burst which to a minor extent was replicated in zinc and nickel was driven by a Bloomberg report saying that the LME as an option is looking into whether and under what circumstances they might place a ban on Russian metal being cleared via the exchange. Any such move by the LME to block Russian supplies could have significant ramifications for the global metal markets given their importance as a supplier of the mentioned metals, which to a smaller extend also includes copper. What are we watching next? Change of course from UK government after recent events? UK Prime Minister Liz Truss and Chancellor Kwarteng will meet with the Office of Budget Responsibility today for emergency talks before they receive the first draft of fiscal forecasts from the OBR next week. The recent crisis in the UK gilt market and downward spiral in sterling could elicit a response and possible backtracking on some portion of the recent policy announcement, although Truss said as recently as yesterday that she will stay the course. The most recent YouGov political poll release yesterday shows the Conservatives trailing Labour by a whopping 33 points, the largest gap since the 1990’s. Election in Brazil at the weekendBrazilian voters go to the polls on Sunday, with left-leaning former president Lula leading strongly in the polls over the incumbent right-populist Bolsonaro, but with many fearing the risk of disorder and violence as Bolsonaro has already made claims of election fraud and has hinted at not wanting to leave office. A run-off election between the two candidates will be held on October 30 if neither gets more than half the popular vote this weekend. The Brazilian real is at the weak end of the recent range versus the US dollar. Fed preferred inflation measure, US PCE, on the radar today The data point is for August and comes nearly three weeks after the BLS CPI data for the month. It will likely echo the same message as given by the last strong CPI number which has made the Fed even more hawkish in the last few weeks since the Jackson Hole. Headline numbers may be lower due to the decline in gasoline prices, but the price pressure on services side will likely broaden further. At last week’s FOMC meeting, the Fed also raised its forecasts for inflation, with the central bank now seeing core PCE at 4.5% by the end of this year (it previously projected 4.3%), moderating to 3.1% next year and at 2.1% at the end of its forecast horizon in 2025, but thinks that headline PCE prices will be at its 2% target by then. Earnings calendar this week Today’s earnings release to watch is from Carnival which is expected to deliver strong results but there are significant downside risks to the outlook from fuel costs, staffing costs and the cost-of-living crisis hurting disposable income. Today: Carnival (postponed from last week), Nitori Economic calendar highlights for today (times GMT) 0755 – Germany Sep. Unemployment Change/Rate 0800 – Poland Sep. Flash CPI 0800 – Norway Daily FX Purchases 0830 – UK Aug. Mortgage Approvals 0900 – Eurozone Sep. Flash CPI 1230 – US Aug. PCE Deflator/Core Deflator 1300 – US Fed Vice Chair Brainard to speak at Fed conference on Financial Stability. 1345 – US Sep. Chicago PMI 1400 – US Final University of Michigan Sentiment Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean Sticher   Source: https://www.home.saxo/content/articles/macro/market-quick-take-sep-30-2022-30092022

At the close of the New York Stock Exchange, the Dow Jones fell 1.71% to hit a 52-week low, the S&P 500 fell 1.51% and the NASDAQ Composite fell 1.51%. Shares of UnitedHealth Group Incorporated were among the leaders of gains among the components of the Dow Jones index today, which lost 3.79 points (0.74%) to close at 505.04. Walgreens Boots Alliance Inc fell 0.15 points or 0.48% to close at 31.40. Dow Inc shed 0.23 points or 0.52% to close at 43.93. The drop leaders were Nike Inc shares, which lost 12.21 points or 12.81% to end the session at 83.12. Boeing Co was up 3.39% or 4.25 points to close at 121.08, while Walt Disney Company was down 3.20% or 3.12 points to close at 94. 33. Leading gainers among the S&P 500 index components in today's trading were Charles River Laboratories, which rose 3.57% to hit 196.80, Weyerhaeuser Company, which gained 2.92% to close at 28.56, and shares of Twitter Inc, which rose 2.74% to end the session at 43.91. The losers were shares of Carnival Corporation, which fell 23.31% to close at 7.03. Shares of Norwegian Cruise Line Holdings Ltd lost 18.11% to end the session at 11.35. Quotes of Royal Caribbean Cruises Ltd decreased in price by 13.14% to 37.91. Leading gainers among the components of the NASDAQ Composite in today's trading were FingerMotion Inc, which rose 82.16% to hit 3.37, SAITECH Global Corp, which gained 43.36% to close at 3.24, and shares of Avenue Therapeutics Inc, which rose 39.03% to end the session at 10.08. The biggest losers were Atlis Motor Vehicles Inc, which shed 39.91% to close at 20.40. Shares of Aterian Inc lost 37.06% and ended the session at 1.24. Quotes of Edesa Biotech Inc decreased in price by 34.66% to 0.92. On the New York Stock Exchange, the number of securities that fell in price (1,758) exceeded the number of those that closed in positive territory (1,354), while quotations of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,139 companies fell in price, 1,583 rose, and 228 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.69% to 31.62. Gold futures for December delivery added 0.11%, or 1.80, to $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 1.87%, or 1.52, to $79.71 a barrel. Futures for Brent crude for December delivery fell 2.13%, or 1.86, to $85.32 a barrel. Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.08% to 0.98, while USD/JPY advanced 0.23% to hit 144.77. Futures on the USD index fell 0.09% to 112.10. Relevance up to 05:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/295131

The new week, the new month and the new quarter kicked off on a volatile, but a positive note. Credit Suisse closed a very ugly session with 0.90% loss only. Stocks  European indices gained, while the US indices rallied as softer-than-expected US ISM manufacturing index gave a positive spin to the market. The Dow Jones jumped the most on Monday, as oil stocks literally roared on the back of firmer oil prices. Oil bulls are betting that OPEC will announce an output cut of around a million barrels per day to ‘stabilize’ oil prices. FX Update In the FX, the US dollar retreat almost 3% since its September peak. The dollar lost more than 4.50% against the Brazilian real, as Cable rallied past the 1.13 level, after Liz Truss government took a ‘mini’ step back from their terribly unpopular fiscal spending plan, and said that they will not reduce taxes on big salaries. Elsewhere, the Reserve Bank of Australia lifted its interest rates by 25bp only, versus 50bp expected by analysts. Today's report Today, we will be watching the job openings data in the US, and hope to see a smaller number, as the Fed sees the job openings as a factor that could ease the pressure in the US jobs market. Then, will follow the ADP report on Wednesday, and the NFP, unemployment rate and the wages growth on Friday. Investors are praying for softish numbers this week to continue the rally. Watch the full episode to find out more! 0:00 Intro 0:22 Stocks rebound 1:23 Oil stocks rally on firmer oil 4:44 …but Tesla slumps 5:55 FX update: USD down, BRL & GBP up 6:33 … but Brits want to see Liz spend less 8:16 RBA cuts less & investors need soft US data to cheer up Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #CreditSuisse #Tesla #Brazil #election #Bolsonaro #Lula #BRL #USD #GBP #OPEC #output #cut #crude #oil #US #jobs #Fed #BoE #Liz #Truss #mini #budget #SMI #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH

At the close of the New York Stock Exchange, the Dow Jones fell 0.14%, the S&P 500 fell 0.20%, and the NASDAQ Composite fell 0.25%. The leading performer among the components of the Dow Jones index today was Nike Inc, which gained 2.46 points or 2.78% to close at 91.10. Visa Inc Class A rose 2.02 points or 1.09% to close at 187.67. UnitedHealth Group Incorporated rose 3.90 points or 0.75% to close at 527.07. The biggest losers were Goldman Sachs Group Inc, which shed 5.87 points or 1.86% to end the session at 309.00. Shares of JPMorgan Chase & Co rose 1.38 points (1.23%) to close at 110.39, while Dow Inc shed 0.56 points (1.20%) to close at 46 .06. Leading gainers among the S&P 500 components in today's trading were Illumina Inc, which rose 6.56% to hit 218.52, Schlumberger NV, which gained 6.26% to close at 41.57, and Gap Inc, which rose 5.19% to end the session at 9.72. The biggest losers were Lumen Technologies Inc, which shed 9.45% to close at 7.28. Shares of Enphase Energy Inc shed 9.25% to end the session at 261.60. Quotes Vornado Realty Trust fell in price by 6.38% to 22.47. The leading gainers among the components of the NASDAQ Composite in today's trading were Chardan Nextech Acquisition 2 Corp, which rose 102.63% to hit 21.54, Nauticus Robotics Inc, which gained 96.27% to close at 6.32. , as well as shares of Pineapple Holdings Inc, which rose 93.01% to end the session at 2.76. The biggest losers were Bit Brother Ltd, which shed 42.97% to close at 0.18. Shares of Avenue Therapeutics Inc shed 41.59% to end the session at 8.47. Quotes Scienjoy Holding Corp fell in price by 36.99% to 1.38. On the New York Stock Exchange, the number of securities that fell in price (2102) exceeded the number of those that closed in positive territory (991), while quotes of 107 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,313 companies fell in price, 1,443 rose, and 198 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 1.79% to 28.55. Gold futures for December delivery shed 0.28%, or 4.90, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery rose 1.76%, or 1.52, to $88.04 a barrel. Futures for Brent crude for December delivery rose 2.07%, or 1.90, to $93.70 a barrel. Meanwhile, in the Forex market, EUR/USD fell 0.96% to hit 0.99, while USD/JPY edged up 0.35% to hit 144.60. Futures on the USD index rose 1.00% to 111.08.   Relevance up to 04:00 2022-10-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/295644

At the close on the New York Stock Exchange, the Dow Jones fell 1.15%, the S&P 500 fell 1.02%, and the NASDAQ Composite fell 0.68%. Chevron Corp was the top gainer among the components of the Dow Jones index today, up 2.89 points or 1.82% to close at 161.42. Quotes of Caterpillar Inc rose by 0.43 points (0.24%), closing the session at 178.81. Home Depot Inc rose 0.54 points or 0.19% to close at 290.39. The losers were 3M Company shares, which lost 4.05 points or 3.52% to end the session at 111.12. International Business Machines was up 2.79% or 3.51 points to close at 122.23 while Walgreens Boots Alliance Inc was down 2.74% or 0.91 points to close at 32.25. Among the S&P 500 index components gainers today were DexCom Inc, which rose 4.53% to hit 95.21, APA Corporation, which gained 4.15% to close at 42.20, and Occidental Petroleum Corporation, which rose 4.07% to end the session at 70.50. The biggest losers were shares of Carnival Corporation, which shed 6.19% to close at 6.97. Shares of SolarEdge Technologies Inc lost 5.96% to end the session at 220.27. Shares of Generac Holdings Inc fell 5.59% to 168.69. Leading gainers among the components of the NASDAQ Composite in today's trading were Green Giant Inc, which rose 168.57% to 1.88, Atlis Motor Vehicles Inc, which gained 95.45% to close at 24.49. as well as shares of InVivo Therapeutics Holdings Corp, which rose 83.03% to close the session at 7.98. The biggest losers were Jowell Global Ltd., which shed 45.36% to close at 1.53. Shares of Cyclerion Therapeutics Inc lost 37.57% to end the session at 0.59. Quotes of Top Ships Inc decreased in price by 35.22% to 6.40. On the New York Stock Exchange, the number of securities that fell in price (2114) exceeded the number of those that closed in positive territory (997), while quotes of 125 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,093 stocks fell, 1,655 rose, and 252 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 6.90% to 30.52. Gold futures for December delivery added 0.07%, or 1.20, to $1.00 a troy ounce. In other commodities, WTI crude for November delivery rose 1.30%, or 1.14, to $88.90 a barrel. Futures for Brent crude for December delivery rose 1.57%, or 1.47, to $94.84 a barrel. Meanwhile, on the Forex market, EUR/USD fell 0.87% to 0.98, while USD/JPY edged up 0.35% to hit 145.13. Futures on the USD index rose 1.03% to 112.15.   Relevance up to 05:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/295838

Stocks opened lower and Treasury yields rose as the strong report reaffirmed bets that the central bank would continue to be aggressive with its tightening campaign. Odds of a 75-basis point hike increased to a certainty following the report. Aside from the anxiety that usually precedes these numbers, traders had to digest remarks from a raft of Federal Reserve speakers who sounded unequivocally committed to crushing inflation with rate hikes. The hawkish rhetoric helped push the S&P 500 to its second straight day of losses, while lifting the dollar and Treasury yields. Oil topped $88 a barrel. European stock indices are in a downtrend with the target of updating year lows: This is the last jobs report Fed officials will have before their November policy meeting as they consider a fourth-straight 75-basis point interest rate hike. Fresh inflation data coming out next week will also play a fundamental role in their decision making. The report is projected to show the depth and breadth of the Fed's inflation problem, with a key indicator of consumer prices potentially worsening. The Moscow Exchange Index failed to hold above 2,000 and continued its decline: Key events this week: US unemployment, wholesale inventories, non-farm payrolls, Friday Bank of England Deputy Governor Dave Ramsden speaks at event, Friday Fed's John Williams speaks at event, Friday   Relevance up to 17:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323750

At the close of the New York Stock Exchange, the Dow Jones was down 0.32%, the S&P 500 was down 0.75% and the NASDAQ Composite was down 1.04%. Walgreens Boots Alliance Inc was the leading gainer in the Dow Jones Index today, up 1.32 points or 4.33% to close at 31.84. Merck & Company Inc rose 2.88 points or 3.29% to close at 90.48. Boeing Co rose 2.11 points or 1.63% to close at 131.90. The losers were Salesforce Inc, which shed 4.65 points or 3.09% to end the session at 145.64. Microsoft Corporation was up 2.13% or 4.99 points to close at 229.25, while Walt Disney Company was down 2.06% or 2.00 points to close at 95. 16. Leading gainers among the S&P 500 index components in today's trading were Walgreens Boots Alliance Inc, which rose 4.33% to 31.84, Moderna Inc, which gained 3.44% to close at 123.42, and also shares of McCormick & Company Incorporated, which rose 3.30% to end the session at 75.86. The biggest losers were Wynn Resorts Limited, which shed 12.25% to close at 64.14. Shares of Bio-Rad Laboratories Inc shed 8.33% to end the session at 393.19. Quotes Norwegian Cruise Line Holdings Ltd fell in price by 7.91% to 11.88. Leading gainers among the components of the NASDAQ Composite in today's trading were Applied DNA Sciences Inc, which rose 70.97% to 2.12, Immunic Inc, which gained 56.57% to close at 6.20, and also shares of Green Giant Inc (NASDAQ:GGE), which rose 39.26% to end the session at 2.27. Shares of Siyata Mobile Inc were the biggest losers, losing 59.33% to close at 0.12. Shares of Minim Inc lost 29.38% and ended the session at 0.23. Quotes of Acm Research Inc decreased in price by 26.50% to 9.04. On the New York Stock Exchange, the number of securities that fell in price (2031) exceeded the number of those that closed in positive territory (1053), while quotes of 120 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,297 companies fell in price, 1,471 rose, and 191 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.48% to 32.45. Gold futures for December delivery lost 2.01%, or 34.40, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 1.89%, or 1.75, to $90.89 a barrel. Futures for Brent crude for December delivery fell 2.08%, or 2.04, to $95.88 a barrel. Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.40% to 0.97, while USD/JPY was up 0.27% to hit 145.73. Futures on the USD index rose 0.36% to 113.09.   Relevance up to 05:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/296222

At the close of the New York Stock Exchange, the Dow Jones was down 0.10%, the S&P 500 was down 0.33% and the NASDAQ Composite was down 0.09%. The leading performer among the components of the Dow Jones index today was JPMorgan Chase & Co, which gained 1.65 points (1.62%) to close at 103.61. Quotes of Coca-Cola Co rose by 0.66 points (1.21%), closing trading at 55.14. Intel Corporation rose 0.29 points or 1.16% to close at 25.33. The biggest losers were Walgreens Boots Alliance Inc, which shed 0.67 points or 2.05% to end the session at 31.94. Walmart Inc was up 1.13% or 1.50 points to close at 131.17, while Boeing Co was down 0.87% or 1.15 points to close at 130.42. . Leading gainers among the S&P 500 index components in today's trading were Royal Caribbean Cruises Ltd, which rose 11.48% to 45.36, Norwegian Cruise Line Holdings Ltd, which gained 11.61% to close at 12. 98, as well as shares of Carnival Corporation, which rose 9.79% to close the session at 7.29. The biggest losers were Albemarle Corp, which shed 7.89% to close at 251.45. Shares of T. Rowe Price Group Inc lost 5.14% to end the session at 98.07. Quotes of Entergy Corporation decreased in price by 4.52% to 96.58. Leading gainers among the components of the NASDAQ Composite in today's trading were Pintec Technology Holdings Ltd, which rose 191.16% to hit 0.91, Agrify Corp, which gained 88.02% to close at 0.95, and also shares of 9F Inc, which rose 83.42% to close the session at 0.35. The biggest losers were Fednat Holding Co, which shed 33.87% to close at 0.22. Shares of T2 Biosystms Inc lost 30.00% and ended the session at 0.06. Kinnate Biopharma Inc lost 26.65% to 8.12. On the New York Stock Exchange, the number of securities that fell in price (1818) exceeded the number of those that closed in positive territory (1274), while quotes of 132 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,902 stocks fell, 1,820 rose, and 278 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.18% to 33.57. Gold futures for December delivery shed 0.33%, or 5.50, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 2.70%, or 2.41, to $86.94 a barrel. Futures for Brent crude for December delivery fell 2.13%, or 2.01, to $92.28 a barrel. Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.03% to 0.97, while USD/JPY edged up 0.70% to hit 146.88. Futures on the USD index rose 0.06% to 113.19.   Relevance up to 05:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/296618

Summary:  A choppy session in equity and bond markets despite a hot US CPI print for September pushing up Fed funds rate expectations by over 25bps on the terminal rate projections which limits the room for Fed officials to out-hawk the markets. Japanese yen suffers the biggest blow as intervention remains weak, while GBP and Gilts generally supported higher with another potential U-turn in UK fiscal plan. Further tightening from Monetary Authority from Singapore boosts the SGD, and China’s CPI will be on watch in the Asian session before Bank earnings take away the limelight later in the day. What’s happening in markets? The Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) indices plunged after hot CPI data then whipsawed higher, moving in a ~5% range Core inflation (which excludes volatile food and energy items) rose to a 40-year high in September which gives the Federal Reserve reason to continue with its aggressive interest-rate hikes. The Nasdaq 100 fell over 3% and the S&P500 fell 2.35% before both major indices whipsawed higher with the Nasdaq ending up 2.3% and the S&P500 up 2.6%. Short covering and macro trading would have played a huge role in the reason markets whipsawed higher. ETF volume accounted for 39% of the turnover, just a touch lower than the record high of 40%. In terms of sectors, financials and energy led the benchmark index higher. Amid the energy crisis, there are the most rising-free cash flows in energy markets, which offer value. U.S. treasury yields (TLT:xnas, IEF:xnas, SHY:xnas) made new highs before waning U.S. treasuries had a volatile after the hot CPI prints. Now the money market fully prices in a 75bps hike in the November FOMC and a terminal rate of 4.9% early next year. The front end of the treasury curve was hit most with 2-year yields rising to as much as 24bps to 4.53% before paring back some of the move to finish the day 17bps higher at 4.65%. 10-year yields made a new high, hitting 4.08% soon after the CPI but spent the rest of the session waning to up only 4bps to close at 3.94%, despite a weak 30-year auction in the afternoon. The sharp rally (yields falling by over 20bps across the curve) in U.K. gilts contributed to stabilising U.S treasuries. The Bank of England bought a record £4.68 billion of gilts in its emergency bond purchase programme which is set to end on Friday. Traders snapped up gilts on speculation that the Truss government will announce the reversal of some of the tax cuts in the mini-budget when the Chancellor of the Exchequer Kwasi Kwarteng returns from the IMF meeting in Washington.  Australia’s ASX200 (ASXSP200.1) may likely meet a similar fate to US equities and have a wild day of trade In Australia a similar situation is playing out with the futures market is now pricing in interest rates will peak at 3.9% next year.  We have seen the RBA express ‘peak hawkishness’, is behind it. But the market is still pricing in rate rises will continue, but at a steady pace. This means growth sectors remain pressured and value strengthens. Consider; amid the energy crisis, there are the most rising-free cash flows in energy markets, which offer value and support share price growth. This is worth perhaps reflecting on, especially given coal prices hit fresh highs and we are not at peak coal demand season (January) yet. As such energy prices seem supported higher. Hong Kong’s Hang Seng (HSIU2) China’s CSI300 (03188:xhkg) Hong Kong and mainland China equities retreated, Hang Seng Index down 1.9% and CSI300 lower by 0.8%. HSBC (00005:xhkg) outperformed and gained 0.7%. Country Garden Services (06098:xhkg), tumbling 14.1%, and Country Garden Holdings (02007:xhkg), falling 9.8% were the worst performers in the Hang Seng Index, as the China property space continued to sell off. Machinery stocks declined on weak excavator sales in China. Weaknesses in China Internet and EV stocks dragged the Hang Seng Tech Index (HSTECH.I) down by 3.4%. On the other hand, local Hong Kong developers, Sun Hung Kai Properties (00016:xhkg), up 2.7%, New World Development (00017:xhkg), up 2.2%, and CK Asset Holdings (01113:xhkg), climbing 1.2% were among the best performers in the benchmark index, following news reports saying the Hong Kong Government is considering to relax the 15% extra stamp duty that non-resident buyers need to pay when buying a property in Hong Kong. In addition, Hong Kong is considering allowing 12 people instead of the currently 4 to gather in public. Macao casino stocks dropped from 1.9% to more than 7% on the dim prospect of relaxation on zero-Covid policy in mainland China. The head of China’s Epidemic Response and Disposal Leading Group, Liang Wannian, said on TV that China had no timeline for an exit from its Covid strategy. Sands China (01928:xhkg) was also troubled by a lawsuit in the U.S. in which the claimant is seeking more than USD7.5 billion in compensation. Healthcare stocks gained at the Hong Kong and mainland bourses. In the A-share market, computing, software, and digital currency concept stocks gained, following China’s central bank’s pledge to promote the development of the digital renminbi. Weak verbal intervention in the Japanese yen USDJPY traded to a fresh record high of 147.67 overnight, and stayed above the 147 handle despite a reversal in US dollar strength later in the session. Only some weak comments were noted from Japanese authorities, with FinMin Suzuki saying that FX volatility was discussed at the G20 meeting. There was also some speculation of more Japanese intervention after some sudden price movements in the Yen yesterday as USDJPY hit a high of 147.47 before knee-jerking lower to 146.52, albeit if it was intervention it wasn't successful with USDJPY back above 147.00. That is perhaps a reason why Japanese MoF official has stayed away from confirming or denying Thursday’s intervention. BOJ Governor Kuroda kept easing bias saying not appropriate to raise rates in Japan now, and with US yields still seeing some more room on the upside, there could be more room for yen weakness. Our technical analyst highlights that if USDJPY breaks 147.65 resistance, 149.34 level is not unlikely. Crude oil (CLX2 & LCOZ2) followed the USD price action While there were enough drivers for the oil prices overnight, price action in crude oil generally followed the USD trend which initially rose after the hot US CPI report cementing expectations for another 75bps rate hike at the November meeting and a small chance of a 100bps rate hike, but it fell later as risk sentiment revived. The IEA's monthly oil market report saw its Q4 demand view lowered by 300k BPD, while its 2023 demand outlook was cut by 470k BPD (both are still expected to show growth). But supply concerns also remained with the weekly US inventory reporting tight market in distillates following a decline of 4.9mln barrels in domestic supply. Crude stocks build was significantly above expectations (9.88mln vs an expected 1.75mln), while stocks at Cushing drew down by 309k; and gasoline posted a surprise build (2.023mln vs an expected -1.825mln). US-Saudi tensions also continue to slide downhill as the White House accused Saudi Arabia of coercing other OPEC+ members into agreeing to a huge output cut, and said it had asked the kingdom for a pause.   What to consider? Hot US CPI pushing Fed tightening expectations higher – can Fed members continue to out-hawk the markets? Core US inflation jumped to a 40-year high of 6.6% y/y in September, making more jumbo Fed rate increases inevitable. Headline CPI also came in higher than expectations, at 8.2% y/y with shelter, food and medical care contributing to the biggest gains. Fed funds rate expectations have pushed higher, with a full 75bps rate hike priced in for November with increasing expectations of a 75bps rate hike in December as well. March 2023 terminal rate expectation pushed higher by about 30bps to 4.94% now. This is above the 4.6% depicted by the Fed’s dot plot, and may leave little room for the Fed members to continue to out-hawk the markets. Fed speakers George, Cook and particularly Waller will be on the wires today. Reports of another potential UK fiscal U-turn There’s no ending the drama in the UK markets, with reports of another potential U-turn in the fiscal plans of Liz Truss government. Now, there are talks that the government is mulling hiking corporation tax despite initial plans to scrap the corporation tax hike and keep it unchanged. Such reports, along with the BOE’s increased bond-buying thus week, could help put a floor on UK assets next week as the central bank halts its bond purchases today. Still, the credibility of UK authorities remains in question, and that would mean it remains hard to include Gilts in asset allocation. Treasury Secretary Yellen warned about the risk of a loss of liquidity in the U.S. treasury market U.S. Treasury Secretary Janet Yellen voiced concerns about a potential breakdown in treasuries trading when answering questions yesterday and said that the Treasury is “worried about a loss of adequate liquidity in the market”. The concern about the potential risk of a sudden loss of liquidity or even a breakdown of trading in the U.S. treasury market has recently risen among some traders as the treasury market loses the largest buyer, the Fed in quantitative tightening. After rounds of QE and large fiscal deficits, the outstanding amount of treasuries has grown to USD23.7 trillion. The daily turnover in treasuries was USD627 billion a day in September.  The turmoil across the pond in the U.K. gilts markets has also added to the worries among traders and probably policy makers in the U.S. U.S. Bank earnings, potential CET1 capital shortfalls to watch Several leading U.S. banks, including JPMorganChase (JPM:xnys), Morgan Stanley (MS:xnys), Citigroup (C:xnys), Wells Fargo (WFC:xnys), US Bancorp (USB:xnys), PNC Financial (PNC:xnys), First Republic Bank (FRC:xnyc) are reporting on Friday. The market focus will be on JPMorganChase, Morgan Stanley, and Citigroup. The key things to watch for are these banks’ net interest margins and their updates on the quality of their loan books, as well as the impact of mark-to-market losses incurred to their available-for-sale investment portfolio, which are largely treasuries and agency mortgage-backed securities, on their common equity tier-1 (CET1).  Some of the banks may be hit by falling bond prices and are facing CET1 capital shortfalls. Taiwan’s TSMC, South Korea’s SK Hynix, and Samsung Electronics secured U.S. approval for getting U.S. equipment for 1 year Taiwan Semiconductor Manufacturing Co said the company had secured a 1-year license from the U.S. government to continue to get U.S. chip-making equipment for its expansion in manufacturing capacity in China for the next 12 months.  Likewise, South Korean chip maker, SK Hynix said it had gotten a 1-year waiver from the U.S. government to import American equipment to its factories in China.  Reportedly, Samsung Electronics got a similar waiver.  On the other hand, China’s top semiconductor equipment maker Naura Technology was said to have told the company’s American engineers to stop working on research and development projects with immediate effect. The Chinese Communist Party convenes its 20th National Congress on Oct 16 General Secretary Xi Jinping will make a speech and presents the Work Report of the 19th Central Committee to the 20th National Congress of the Chinese Communist Party (CCP) on Oct 16. From Oct 16 to 22, around 2,300 delegates from all over the country will elect 205 full members and 171 alternate members of the 20th Central Committee and select the members for the 20th Central Commission for Discipline Inspection. On Oct 22, the 20th National Congress will vote to approve the Work Report of the 19th Central Committee and approve an amendment to the charter of the CCP. The 20th National Congress ends on Oct 22 and the newly elected 20th Central Committee will hold its 1st plenary session on Oct 23 and decide on the most important 25-member Politburo and its 7-member Standing Committee, as well as members of the Central Military Commission and Central Secretariat.  Nomination of Premier and Vice-premiers of the State Council are matters to be decided not this time but later in the 2nd plenary session which may be held in February 2023 and that nomination will need to be approved by the National People’s Congress in March 2023. ECB QT likely to begin in Q2 2023, lower ECB terminal rate ECB discussed possible timeline for balance sheet reduction at Cyprus meeting earlier this month. Consensus appeared to emerge for quantitative tightening to start sometime in Q2 2023. Reports suggested that the ECB could already tweak its language on reinvestments at its October meeting and then could provide a detailed plan possibly in December but more likely in February. Meanwhile, Reuters reported that an ECB staff model puts the terminal rate in Europe at 2.25%, beneath the 3% that markets are currently pricing in; however, the response from ECB policymakers was mixed, with some fearing the model contains errors. China’s CPI is expected to rise to 2.9% in September China is releasing CPI and PPI data on Friday. The median forecast in the Bloomberg survey is expecting the CPI to rise to 2.9% Y/Y in September from 2.5% Y/Y in August.  The rise is likely attributed to higher food prices, including pork prices during the month.  PPI is expected to fall to 1.0% Y/Y in September from 2.3% in August, helped by a high base last year.  China’s export growth is expected to decelerate in September The median forecast in Bloomberg’s survey of economists calls for a sharp deceleration of China’s export growth in USD terms to +4.0% Y/Y in September from +7.1% in August, citing tightened pandemic control measures and a high base of last year. China’s LNG imports are set to decline this winter Bloomberg analysts estimate that China’s LNG import in November and December will be 12.7 million metric tons, a decline of 17% from last year, citing Chinese LNG users canceling LNG import terminal access slots. Singapore avoids a technical recession, MAS re-centres currency band Solid Q3 GDP growth of 4.4% y/y in Singapore according to advance estimates, crushing estimates as construction and services industries outperformed. This reaffirmed that Singapore not only avoided a technical recession, but is on a solid recovery track after the pandemic restrictions were removed. Q/Q growth turned positive to come in strongly at 1.5% from -0.2% previously. This has given further room to the Monetary Authority of Singapore (MAS) to tighten the policy, and it announced re-centring of its currency policy band to the prevailing level. No changes to the width or slope of the band were announced, meaning the boost to the SGD could remain temporary as potentially more USD gains remain likely for now. What is the thinking about what will happen to interest rates in Australia? In Australia the futures market are now pricing in interest rates will peak at 3.9% next year. We have seen the RBA express ‘peak hawkishness’, is behind it. But the market is still pricing in rate rises will continue, but at a steady pace. This means growth sectors remain pressured and value strengthens. Consider; amid the energy crisis, there are the most rising-free cash flows in energy markets, which offer value and support share price growth. This is worth perhaps reflecting on, especially given coal prices hit fresh highs and we are not at peak coal demand season (December-January) yet. Also consider oil prices have moved off their lows. As such energy prices look supported higher for longer despite A. Most traded instruments at Saxo Australia this week The most traded stocks this week at Saxo in Australia are Tesla, Apple, Whitehaven Coal (hit new high), Coles, and Bank of Queensland results. What’s the takeaway here? We need to reflect on the trends. Trends are your friends when it comes to making profits in markets. In the banking sector; we heard from Bank of Queensland who is forecasting house prices to drop and loan growth to slow. Coal prices are moving up and continues to be supported. And in when it comes to the most transacted upon futures, in commodities; we've seen a pick-up in buying of Crude oil Futures; with the OPEC and EIA still predicting demand will outpace supply in 2023, meaning we could expect higher oil prices into next year.   For a week-ahead look at markets – tune into our Saxo Spotlight. For a global look at markets – tune into our Podcast.     Source: https://www.home.saxo/content/articles/equities/market-insights-today-14-oct-v2-14102022

At the close on the New York Stock Exchange, the Dow Jones fell 1.34%, the S&P 500 index fell 2.37%, and the NASDAQ Composite index fell 3.08%. The leading performer among the Dow Jones index components today was JPMorgan Chase & Co, which gained 1.82 points or 1.66% to close at 111.19. UnitedHealth Group Incorporated rose 3.22 points or 0.63% to close at 513.13. Boeing Co rose 0.75 points or 0.57% to close at 133.15. The losers were shares of American Express Company, which lost 4.74 points or 3.35% to end the session at 136.81. Apple Inc was up 3.21% or 4.59 points to close at 138.40, while Chevron Corp was down 3.11% or 5.14 points to close at 160.14. . The leaders of growth among the components of the S&P 500 index following the results of today's trading were shares of U.S. Bancorp, which rose 3.36% to 42.76, Delta Air Lines Inc, which gained 2.30% to close at 31.08, and Wells Fargo & Company, which rose 1.86%, ending the session at 43.17. The losers were First Republic Bank, which shed 16.45% to close at 112.57. Shares of The Mosaic Company shed 9.88% to end the session at 46.86. Quotes of CF Industries Holdings Inc decreased in price by 8.40% to 98.04. Leading gainers among the components of the NASDAQ Composite in today's trading were Agrify Corp, which rose 53.75% to hit 1.45, Fednat Holding Co, which gained 48.02% to close at 0.52, and shares of Imara Inc, which rose 46.90% to end the session at 3.79. The drop leaders were shares of TOP Financial Group Ltd, which fell in price by 73.47%, closing at 5.49. Shares of Alfi Inc lost 69.90% and ended the session at 0.25. Quotes of Novo Integrated Sciences Inc decreased in price by 61.94% to 0.29. On the New York Stock Exchange, the number of depreciated securities (2506) exceeded the number of closed in positive territory (579), and quotes of 85 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,720 stocks fell, 1,005 rose, and 229 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.25% to 32.02. Gold futures for December delivery shed 1.67%, or 28.05, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 3.75%, or 3.34, to $85.77 a barrel. Futures for Brent crude for December delivery fell 2.93%, or 2.77, to $91.80 a barrel. Meanwhile, in the Forex market, EUR/USD was down 0.51% to hit 0.97, while USD/JPY was up 1.00% to hit 148.68. Futures on the USD index rose 0.82% to 113.18.     Relevance up to 05:00 2022-10-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results.   Read more: https://www.instaforex.eu/forex_analysis/296988

At the close of the New York Stock Exchange, the Dow Jones was up 1.12%, the S&P 500 was up 1.14% and the NASDAQ Composite was up 0.90%. Salesforce Inc was the top performer among the components of the Dow Jones index today, up 6.35 points or 4.31% to close at 153.53. Quotes of American Express Company rose by 4.45 points (3.14%), closing the session at 145.99. JPMorgan Chase & Co (NYSE:JPM) rose 2.98 points or 2.57% to close at 118.84. The losers were shares of Intel Corporation, which lost 0.55 points or 2.08% to end the session at 25.87. Johnson & Johnson was up 0.58 points (0.35%) to close at 166.01, while Nike Inc was down 0.29 points (0.32%) to end at 89. 68. Leading gainers among the S&P 500 index components in today's trading were Carnival Corporation, which rose 11.28% to 8.09, Lockheed Martin Corporation, which gained 8.69% to close at 431.84, and Norwegian Cruise Line Holdings Ltd (NYSE:NCLH), which rose 8.57% to close at 14.31. The biggest losers were Moderna Inc, which shed 3.71% to close at 134.09. Shares of Hasbro Inc lost 2.88% to end the session at 65.76. Quotes of DexCom Inc decreased in price by 2.81% to 96.93. Leading gainers among the components of the NASDAQ Composite in today's trading were COMSovereign Holding Corp, which rose 170.14% to hit 0.12, Akouos Inc, which gained 88.16% to close at 13.19, and shares of Helbiz Inc, which rose by 58.07%, ending the session at around 0.42. The biggest losers were Agrify Corp, which shed 58.60% to close at 4.43. Shares of Cosmos Holdings Inc lost 47.33% and ended the session at 0.08. Quotes of Salarius Pharmaceuticals Inc decreased in price by 45.18% to 2.74. On the New York Stock Exchange, the number of securities that rose in price (2293) exceeded the number of those that closed in the red (825), while quotes of 115 shares remained virtually unchanged. On the NASDAQ stock exchange, 2441 companies rose in price, 1295 fell, and 277 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.77% to 30.50. Gold futures for December delivery lost 0.43%, or 7.10, to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery fell 2.33%, or 1.97, to $82.56 a barrel. Futures for Brent crude for December delivery fell 1.43%, or 1.31, to $90.31 a barrel. Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.20% to 0.99, while USD/JPY edged up 0.12% to hit 149.21. Futures on the USD index fell 0.02% to 111.88.   Relevance up to 03:00 2022-10-20 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/297377

  Relevance up to 07:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297555

At the close of the New York Stock Exchange, the Dow Jones fell 0.33%, the S&P 500 fell 0.67% and the NASDAQ Composite fell 0.85%. The components of the Dow Jones index The leading gainers among the components of the Dow Jones index today were The Travelers Companies Inc, which gained 7.40 points or 4.44% to close at 174.17. Chevron Corp rose 5.28 points or 3.24% to close at 168.00. Procter & Gamble Company rose 0.93% or 1.19 points to close at 129.56. The biggest losers were Home Depot Inc, which shed 9.57 points or 3.36% to end the session at 275.49. Dow Inc was up 2.70% or 1.25 points to close at 45.13, while JPMorgan Chase & Co was down 1.96% or 2.33 points to close at 116. .51. The S&P 500 index components Leading gainers among the S&P 500 index components in today's trading were Netflix Inc, which rose 13.09% to 272.38, Intuitive Surgical Inc, which gained 8.99% to close at 211.14, and shares of Valero Energy Corporation, which rose 5.32% to close the session at 123.96. The biggest losers were Generac Holdings Inc, which shed 25.34% to close at 110.30. Shares of M&T Bank Corp lost 13.89% and ended the session at 163.06. Quotes Northern Trust Corporation fell in price by 9.15% to 79.59. The components of the NASDAQ  Leading gainers among the components of the NASDAQ Composite in today's trading were Mullen Automotive Inc, which rose 57.12% to hit 0.34, Scopus Biopharma Inc, which gained 51.59% to close at 0.37, and also shares of SenesTech Inc, which rose 46.55% to close the session at 0.34. The biggest losers were Olaplex Holdings Inc, which shed 56.69% to close at 4.24. Shares of Agrify Corp lost 42.44% to end the session at 2.55. Quotes of Sientra Inc decreased in price by 37.36% to 0.38.  The number of securities that fell and rise On the New York Stock Exchange, the number of securities that fell in price (2363) exceeded the number of those that closed in positive territory (777), while quotes of 105 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,715 stocks fell, 1,085 rose, and 216 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.89% to 30.77. Commodities Gold futures for December delivery lost 1.31%, or 21.65, to hit $1.00 a troy ounce. In other commodities, WTI crude futures for December delivery rose 3.23%, or 2.65, to $84.72 a barrel. Futures for Brent crude for December delivery rose 2.53%, or 2.28, to $92.31 a barrel. FX Market Meanwhile, in the Forex market, EUR/USD fell 0.79% to hit 0.98, while USD/JPY edged up 0.43% to hit 149.90. Futures on the USD index rose 0.73% to 112.81.   Relevance up to 05:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/297535

At the close of the New York Stock Exchange, the Dow Jones was down 0.30%, the S&P 500 was down 0.80% and the NASDAQ Composite was down 0.61%.  The Dow Jones index The leading gainer among the components of the Dow Jones index today was International Business Machines, which gained 5.79 points (4.73%) to close at 128.30. Salesforce Inc rose 3.83 points or 2.49% to close at 157.50. Verizon Communications Inc rose 0.43 points or 1.18% to close at 37.00. The biggest losers were Home Depot Inc, which shed 6.03 points or 2.19% to end the session at 269.46. Caterpillar Inc was up 2.10% or 3.87 points to close at 180.54 while Nike Inc was down 1.96% or 1.74 points to end at 86.83. .  The S&P 500 results Leading gainers among the S&P 500 components in today's trading were Lam Research Corp, which rose 7.81% to 355.87, AT&T Inc, which gained 7.72% to close at 16.74, and shares of Quest Diagnostics Incorporated, which rose 6.32% to close the session at 134.66. The biggest losers were Allstate Corp, which shed 12.90% to close at 117.71. Shares of Union Pacific Corporation shed 6.80% to end the session at 186.45. Quotes of Tesla Inc decreased in price by 6.65% to 207.28. The components of the NASDAQ Composite  Leading gainers among the components of the NASDAQ Composite in today's trading were Nextplay Technologies Inc, which rose 107.31% to hit 0.41, Cabaletta Bio Inc, which gained 50.77% to close at 1.96, and also shares of Save Foods Inc, which rose 31.33% to end the session at 1.97. The biggest losers were Talaris Therapeutics Inc, which shed 43.39% to close at 1.37. Shares of LMF Acquisition Opportunities Inc shed 34.55% to end the session at 6.82. Quotes of Gaucho Group Holdings Inc decreased in price by 30.40% to 0.21. How many fall and rise On the New York Stock Exchange, the number of securities that fell in price (2067) exceeded the number of those that closed in positive territory (1018), while quotes of 114 shares remained virtually unchanged. On the NASDAQ stock exchange, 2037 stocks fell, 1694 rose, and 240 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.54% to 29.98. Commodities Gold futures for December delivery lost 0.17%, or 2.85, to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery rose 0.50%, or 0.42, to $84.94 a barrel. Futures for Brent crude for December delivery rose 0.25%, or 0.23, to $92.64 a barrel. EUR/USD Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.12% to 0.98, while USD/JPY rallied 0.19% to hit 150.18. Futures on the USD index fell 0.07% to 112.81.   Relevance up to 05:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/297723

At the close on the New York Stock Exchange, the Dow Jones rose 2.47% to hit a monthly high, the S&P 500 rose 2.37% and the NASDAQ Composite rose 2.31%. Dow Jones index  Caterpillar Inc was the top performer among the components of the Dow Jones index today, up 10.88 points or 6.07% to close at 190.22. JPMorgan Chase & Co rose 6.10 points or 5.25% to close at 122.23. Goldman Sachs Group Inc rose 14.29 points or 4.60% to close at 325.10. The losers were shares of Verizon Communications Inc, which shed 1.65 points or 4.46% to end the session at 35.35. American Express Company rose 1.67% or 2.38 points to close at 140.04, while Procter & Gamble Company rose 1.25% or 1.59 points to close at 128.58. S&P 500 Leading gainers among the components of the S&P 500 in today's trading were Schlumberger NV, which rose 10.33% to 50.41, Freeport-McMoran Copper & Gold Inc, which gained 9.99% to close at 32. 03, as well as Huntington Bancshares Incorporated, which rose 9.47% to end the session at 14.45. The drop leaders were SVB Financial Group shares, which lost 23.95% to close at 230.03. Shares of Robert Half International Inc lost 8.55% and ended the session at 73.01. Quotes of HCA Holdings Inc decreased in price by 5.69% to 196.74. NASDAQ  Leading gainers among the components of the NASDAQ Composite in today's trading were Huadi International Group Co Ltd, which rose 89.27% to hit 58.92, Altamira Therapeutics Ltd, which gained 58.64% to close at 0.52 , as well as shares of Missfresh Ltd ADR, which rose by 57.50%, ending the session at around 2.52. The drop leaders were shares of Immunic Inc, which fell 77.39% to close at 2.08. Shares of Nextplay Technologies Inc lost 33.23% and ended the session at 0.28. Quotes of Kalera PLC decreased in price by 35.61% to 0.28. The number  On the New York Stock Exchange, the number of securities that rose in price (2282) exceeded the number of those that closed in the red (835), while quotes of 104 shares remained virtually unchanged. On the NASDAQ stock exchange, 2503 companies rose in price, 1265 fell, and 238 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.97% to 29.69. Gold Gold futures for December delivery added 1.40%, or 22.95, to $1.00 a troy ounce. In other commodities, WTI crude for December delivery rose 0.73%, or 0.62, to $85.13 a barrel. Futures for Brent crude for December delivery rose 1.24%, or 1.15, to $93.53 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.80% to hit 0.99, while USD/JPY shed 1.75% to hit 147.51. Futures on the USD index fell 0.90% to 111.80.     Relevance up to 04:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/297940

At the close of the New York Stock Exchange, the Dow Jones rose 1.34% to a one-month high, the S&P 500 was up 1.19% and the NASDAQ Composite was up 0.86%. The Dow Jones index Amgen Inc was the top performer among the components of the Dow Jones index today, up 9.38 points or 3.72% to close at 261.32. Quotes Coca-Cola Co rose by 1.61 points (2.88%), ending trading at 57.57. Home Depot Inc rose 7.73 points or 2.81% to close at 283.26. The least gainers were Nike Inc, which lost 0.49 points or 0.55% to end the session at 88.01. The Walt Disney Company (NYSE:DIS) was up 0.32 points or 0.31% to close at 101.72, while Chevron Corp was down 0.06 points or 0.03% to end the trading at 173.13. The S&P 500 index  Leading gainers among the S&P 500 index components in today's trading were HCA Holdings Inc, which rose 7.02% to hit 210.47, Tractor Supply Company, which gained 5.30% to close at 207.83, and also shares of Regions Financial Corporation, which rose 5.28% to close the session at 20.55. The least gainers were Las Vegas Sands Corp, which shed 10.29% to close at 35.05. Shares of Starbucks Corporation shed 5.47% to end the session at 83.76. Quotes of Wynn Resorts Limited decreased in price by 3.86% to 56.53. The NASDAQ  Leading gainers among the components of the NASDAQ Composite in today's trading were Applied Genetic, which rose 62.43% to hit 0.39, Vaxcyte Inc (NASDAQ:PCVX), which gained 60.35% to close at 33. 00, as well as shares of Mullen Automotive Inc, which rose 32.94% to close the session at 0.50. The least gainers were Tricida Inc, which shed 94.48% to close at 0.60. Shares of Alfi Inc lost 54.32% and ended the session at 0.11. Quotes of Huadi International Group Co Ltd decreased in price by 43.99% to 33.00. The numbers On the New York Stock Exchange, the number of securities that rose in price (1,751) exceeded the number of those that closed in the red (1,344), while quotes of 124 shares remained virtually unchanged. On the NASDAQ stock exchange, 1925 companies rose in price, 1828 fell, and 253 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.54% to 29.85. Gold Gold futures for December delivery lost 0.15%, or 2.55, to hit $1.00 a troy ounce. In other commodities, WTI crude futures for December delivery fell 0.26%, or 0.22, to $84.83 a barrel. Futures for Brent crude for January delivery rose 0.13%, or 0.12, to $91.46 a barrel. FX Market Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.14% to 0.99, while USD/JPY edged up 0.98% to hit 149.09. Futures on the USD index fell 0.04% to 111.93.     Relevance up to 05:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/298126

At the close of the New York Stock Exchange, the Dow Jones rose 1.07% to hit a monthly high, the S&P 500 rose 1.63% and the NASDAQ Composite rose 2.25%. The Dow Jones index  The top performer among the components of the Dow Jones index today was Nike Inc, which gained 3.71 points (4.22%) to close at 91.72. Quotes of American Express Company rose by 5.39 points (3.81%), closing the session at 147.02. Boeing Co rose 4.60 points or 3.24% to close at 146.65. The biggest losers were The Travelers Companies Inc, which shed 3.70 points or 2.06% to end the session at 176.09. Amgen Inc was up 1.33 points (0.51%) to close at 259.99, while UnitedHealth Group Incorporated was down 1.38 points (0.25%) to close at 540. 22. The Dow Jones index  Leading gainers among the S&P 500 index components in today's trading were Centene Corp, which rose 10.47% to 83.75, IQVIA Holdings Inc, which gained 10.17% to close at 197.83, and shares of Charles River Laboratories, which rose 9.10% to end the session at 219.12. The losers were Brown & Brown Inc, which shed 12.65% to close at 55.10. Shares of Cadence Design Systems Inc shed 5.55% to end the session at 151.32. Quotes W. R. Berkley Corp fell in price by 4.64% to 69.20.  The NASDAQ Composite Leading gainers among the components of the NASDAQ Composite in today's trading were Taysha Gene Therapies Inc, which rose 97.35% to hit 2.98, Fangdd Network Group Ltd, which gained 89.64% to close at 1.26. , as well as shares of Revelation Biosciences Inc, which rose 64.60% to close the session at 0.41. The biggest losers were Hoth Therapeutics Inc, which shed 26.37% to close at 0.24. Shares of Mana Capital Acquisition Corp lost 23.24% to end the session at 5.99. Quotes TuanChe ADR fell in price by 18.45% to 6.32. The numbers On the New York Stock Exchange, the number of securities that rose in price (2619) exceeded the number of those that closed in the red (487), while quotations of 112 shares remained practically unchanged. On the NASDAQ stock exchange, 2989 companies rose in price, 753 fell, and 241 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.66% to 28.46, hitting a new monthly low. Gold Gold futures for December delivery added 0.21%, or 3.55, to $1.00 a troy ounce. In other commodities, WTI crude futures for December delivery rose 0.39%, or 0.33, to $84.91 a barrel. Brent futures for January delivery fell 0.05%, or 0.05, to $91.16 a barrel. Forex Market Meanwhile, in the Forex market, EUR/USD rose 0.94% to hit 1.00, while USD/JPY fell 0.71% to hit 147.90. Futures on the USD index fell 1.03% to 110.75.   Relevance up to 04:00 2022-10-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/298317

US indices rallied yesterday on the back of soft economic data from the US, but the sentiment reversed after the Q3 results from Google and Microsoft didn't please. Both stocks fell in the afterhours trading. Rest of the earnings were mixed. Meta is the next US giant to announce earnings, and expectations are rather… low. US Yields The US 2-year yield has been easing after hitting a fresh 15-year high last week, as the US 10-year yield fell to 4.05%. The dollar index tanked around 1%, both the EURUSD and Cable advanced past their 50-DMA, which were acting as strong resistance since the start of the year, especially since the start of the war in Ukraine. Bank of Canada The USDCAD fell to a 3-week low, as the Bank of Canada (BoC) prepares to deliver another jumbo rate hike today. The BoC could deliver a 75bp hike, which would further fuel the odds of recession in Canada by next year. FX Market It’s important to note that the common denominator of the latest FX moves is the softer US dollar. And the downside moves in dollar and the US yields depend on Fed expectations – whatever the other central banks do seem accessory to the main dollar story. Fed The Fed expectations have been shaped by softish data, and some softish comments from the Fed officials recently. But there is nothing official pointing at a potential softening tone from the Fed just yet. Hence, the recent fall in the US dollar, and rebound in equities may not last. Gains remain vulnerable. And very much so, as the latest results from the US tech giants failed to make the investors smile yesterday. Watch the full episode to find out more! 0:00 Intro 0:35 Soft US data fueled optimism… 3:15 … but Big Tech earnings hurt. GOOG & MSFT fell 6.5% post-market 5:01 Other companies announced mixed results 6:30…as UPS surprised 7:00 Some come back to stocks, but stock/ bond correlation remains high 7:52 Meta earnings preview: expect nothing crazy… Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Meta #Google #Microsoft #UPS #Spotify #GM #Visa #UBS #CocaCola #earnings #USD #EUR #GBP #CAD #BoC #rate #decision #US #home #prices #Fed #expectations #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH  

The technology companies that have acted as growth drivers for stock markets in recent years are increasingly losing their leading positions. Although it would be too naive to talk about the "beginning of the end" for the IT giants, the initial reaction to the reports of Microsoft and Alphabet makes it seem more like a threat to the recovery of the Nasdaq and S&P500 indices. Shares of both giants are losing around 6.6% on the post-market. Microsoft's revenue and profit beat expectations, but investors see more negative numbers in the dynamic (-3.4% QoQ on revenue and -14.4% YoY on profit). Alphabet noted a tough time in the ad market, with an overall profit fall of 26.6% y/y despite revenue growth of 6.6% y/y. The latter is the lowest rate in 9 years. Experienced traders have long noticed that companies are likely to present the situation to industry analysts, so they make low projections. And easily beat them shortly after in ¾ of the cases. It is, therefore, not uncommon for neutral numbers or a slight overperformance to lead to a share price slump. Also, in growth sectors, markets are paying increased attention to companies' forecasts. And they have been disappointed. Both Microsoft and Alphabet cited falling PC and ad sales. And that's bad news for the future, as it doesn't set the stage for a turnaround in the coming months. Microsoft's comments about cloud computing cuts also pulled Amazon shares, which are losing 4.3% in the post-market. On a more general level, the simple rule of thumb remains that the IT sector is inversely correlated with interest rate movements and is more vulnerable during the economic downturn for which many are now preparing. Dow Jones, S&P 500 and Nasdaq Choosing from major US indices - the Dow Jones, S&P 500, and Nasdaq - the first looks the most promising, including more manufacturing companies and a smaller weighting on the IT sector. This driver change can already be seen in that the Dow Jones made its lows in early October, while the other two made their lows on 13 October: the strongest are recovering first. And it is not the Technology sector right now. Nonetheless, while this trio stays about 20% below the peak and the US Fed forwarding market expectations to slower rate hikes, it looks like the bottom is already behind us.

Australian inflation puts the pressure back on the Reserve Bank Source: shutterstock Macro outlook Global Markets: After Monday’s adverse post 20th Congress market reaction, Asian FX had a better day, with most currencies making small gains overall, though G-10 currencies staged a late rally against the USD and early trading is likely to see Asia playing catch-up. Outside of the G-10 space, the KRW and SGD both gained a little over 0.4% on the day. The CNY opened much  weaker yesterday, pushing close to 7.31, but dropped back sharply in late trading to finish roughly unchanged from Monday’s close at 7.2686 as the USD lost ground against most currencies. EURUSD, for example, pushed strongly higher, reaching 0.9964, putting parity back in the cross-hairs. The AUD also made strong gains, (+1.3%) as did the  JPY (+0.61%), reaching  0.6381 and 148.06 respectively.  Cable has had another strong day too rising to 1.1458. A good start for PM Sunak. The catalyst for the USD’s weakness yesterday looked as it may be coming from the bond market. Fed funds implied yields were slightly down on the day, and 2Y US Treasury yields retreated 2.8bp though much bigger falls were seen in the 10Y and 30Y bonds, where yields were down 14bp and 12.8bp respectively. These declines were echoed in European bond markets. There does not seem to be any particular event or Fed remark driving this development. Yesterday’s US Macro data continued to chip away at the previous “higher for longer” rate expectation (see below). And slightly more temperate Fed comments over the previous week may now be being heeded. The lower bond yield environment won’t have hurt risk sentiment or equity markets. The S&P500 rose 1.63%, the NASDAQ was up 2.25% . After a mixed day yesterday, Asian bourses may show a little more resolve today. Asian equity futures look brighter, though the same cannot be said for their US counterparts, so any early gains may be short-lived.      G-7 Macro: As mentioned, the US data yesterday was on the softer side, with house price data showing further declines in price and bringing the August S&P Case Shiller index down to 13.08%YoY. The April peak was over 21%. Conference board consumer confidence data also showed further substantial declines in both the expectations and current conditions indices, while the Richmond Fed index was also down more than expected. Today we get trade data and new home sales. Neither release is particularly market moving, though both could keep chipping away at perceptions of the US economy’s resilience.    Australia: The 3Q22 consumer price index rose a further 1.8%QoQ, showing no slowdown from 2Q22, and takes the inflation rate to 7.3%YoY (up from 6.1%). The trimmed mean price index rose by the same amount, taking that inflation rate to 6.1% (up from 4.9%) and weighted median inflation also  rose to 5.0% from 4.2%. It is hard to reconcile these latest inflation figures with the RBA’s recent slowdown in hiking to only a 25bp hike at their last meeting, and we believe these numbers must push the odds strongly back in favour of a 50bp hike at their next meeting. South Korea: According to local business surveys, business outlook continues to deteriorate. Both manufacturing and non-manufacturing see a cloudy outlook. The Federation of Korean Industries (FKI)’s all-industry expectation index fell to 86.5 in October (vs 87.4 in September). The Bank of Korea’s survey also showed sentiment falling. The non-manufacturing outlook declined 3 pts, while the manufacturing survey fell a further 2 points. The BoK survey was conducted from October 11th to 18th, when local credit conditions squeezed sharply, and it seems that the effect had a negative impact on corporate sentiment. What to look out for: ECB meeting and US GDP Australia CPI inflation (26 October) South Korea GDP (27 October) China industrial profits (27 October) ECB meeting (27 October) US durable goods, initial jobless claims and 3Q GDP (27 October) Tokyo CPI inflation (28 October) Australia PPI inflation (28 October) Taiwan GDP (28 October) US personal spending, core PCE and Univ of Michigan sentiment (28 October) Read this article on THINK

Summary:  Microsoft and Alphabet did little to help the Q3 earnings season improve on the clear trend of margin pressure. Rising wage pressures, energy costs, lower advertising prices, slowing PC sales and too much hiring impacted operating income and the outlook against estimates. Later tonight Meta is on stage delivering Q3 earnings and given the signals from Snap and Alphabet on the global advertising market we expect significant pressure on Meta's business. Zuckerberg has only one option to please investors and that is by dialing down his efforts on Metaverse which is burning cash on an unprecedented scale. Margin compression is indeed a theme for technology companies Apple recently raised its prices on various of its services offerings from music to TV, and Spotify is also considering raising its prices. The culprit is rising wage pressures and higher energy costs that are hitting energy hungry applications running in the cloud. Microsoft gave the best hint of this saying that it expects $800mn more in energy costs in the current fiscal year which is approximately 1% of its current operating income. As the net profit margin chart below shows, US technology companies are right now facing the biggest margin compression since the Great Financial Crisis. Microsoft and Alphabet disappoint investors The two technology giants, Microsoft and Alphabet, delivered a weaker than estimated outlook. Microsoft’s Q3 revenue and earnings per share were slightly above estimates, but its guidance on growth was lower than estimated. Higher energy costs, wage pressures, slowing PC sales, slowing ad sales and a strong USD are contributing to the expected hit to the operating margin. In order to mitigate some of the cost headwinds and slowing growth the software maker has more or less introduced a hiring freeze. Alphabet was hinted to be weak as Snap last week reported weak advertising sales, but investors did not take the hint adjusting their expectations lower as Alphabet has previously been decoupled from Snap’s performance. But this time investors should have listened to Snap as Alphabet reported a miss on both revenue and operating income with revenue at $69.1bn vs est. $70.8bn and operating income at $17.1bn vs est. $19.7bn. The company added 10,000 new employees in Q3 which is an aggressive increase given the slowdown in the economy but it says that hiring will be significantly lower going forward. Alphabet’s EBIT margin was declining in the 10 years leading into the pandemic which then turbocharged ads pricing because of the high growth in the online economy, but the past year has been a different story with the operating margin declining from 32.3% to 24.8% in Q3 this year. Zuckerberg has one mission tonight Meta is one other Silicon Valley company that is following Alphabet’s hiring bonanza and its bet on the Metaverse, which seems to have hit critical road blocks in terms of user adoption, is burning cash on an unprecedented scale. In Q2, Meta’s operating margin fell to 29% from 42.5% a year before as advertising prices were coming down hard after Apple’s new data privacy rules are making it more difficult for Meta to serve targeted ads. Given the earnings reports from Alphabet and Snap we expect Meta to show margin compression and revenue pressure in Q3 and in our view the pressure is significantly increasing on CEO Mark Zuckerberg to rein in operating expenses. This includes a hiring freeze, or maybe even cuts, and a drastically less ambitious target for Metaverse, and if Zuckerberg dares to admit failure on Metaverse then investors might reward the company with a much higher valuation. European earnings are a bright spot It is still early days on Q3 earnings, but the initial indications suggest that European earnings are doing better than US and Chinese earnings with the strong USD of course creating a tailwind for profits outside Europe. Given relatively better earnings dynamics, lower equity valuations, and a lower discount rate there is a good case to be made for being more positive on European equities rather than US equities. Source: Microsoft and Alphabet Q3 results disappoint Meta on tap tonight | Saxo Group (home.saxo)  

Today (October 26) we will learn the results of Meta Platforms (Facebook), a social media company that is part of the five Silicon Valley tech giants known as FAANG (Facebook, Amazon, Apple, Netflix and Google). The environment for the company appears to be unfavorable following the published disappointing results of competitor Snap. Metaverse future, or just a fantasy? Meta has not enjoyed a good run since the beginning of this year. The Metaverse project may have been negatively received by investors, as it could be seen from the company's share price drop of more than 59% since the beginning of the year. The company's CEO Mark Zuckerberg seems to have decided to put everything on the line, which has brought, due to the project's attention, more than $13 billion in costs so far. In addition, we could hear many rumors from the media about the internal situation of the company, or the perspective of employees. However, let's try to verify all assumptions based on hard data regarding the company's core business. Meta Platforms' performance and financial position Last quarter was the first period in which Facebook lost about 1.4 million active users. The company reported that the situation has improved. However, it could be assumed that investors especially decided to watch the development of the company's new project. Analysts predicted earnings per share EPS of 1.89 (previously 2.46).According to one of Altimeter Capital's major shareholders, CEO Brand Gerstner in an open letter to the company, “Meta needs to rebuild trust with investors, employees and the tech community to attract, inspire and retain the best people in the world. [...] Meta shares have declined 55% over the past 18 months (compared to an average of 19% for its big-tech counterparts). The P / E ratio fell from 23x to 12x and is currently half the average P / E ratio of peers. Importantly, this decline in stock prices reflects lost confidence in the company, not just bad sentiment in the market. " In addition, Tuesday's problems with WhatsApp, which stopped working for several hours, may give us an environment of potentially extreme negative sentiment on the company's shares.As Gerstner mentioned in the letter, it seems that valuation has significantly detached itself from the company's core business. Facebook does not seem to have stopped making money from sales, however, it has clearly seen a slowdown in advertising sales, as could be seen from last quarter's results, in which the company reported its first y/y revenue decline. It fell from $29.08 billion to $28.82 billion. At the same time, EBITDA fell from $14.35 billion to $10.33 billion. Everything may depend on the cost of the Metaverse? With such seemingly pessimistic sentiment for this company, all eyes may be on the update and further plans for the Metaverse project. A key piece of information would perhaps turn out to be the subsequent costs incurred for this project. However, someone could get the impression that most of the negative comments have been factored into the stock price. But would the stock market say "buy when the blood pours" be confirmed? What does Wall Street think of Meta Platforms' stock price? Source: Conotoxia MT5, Facebook, WeeklyAccording to Market Screener, the company has 55 recommendations, most of which are buy recommendations. The average target price is set at $209.97, more than 50% higher than the last closing price. The highest target price is at $466, and the lowest is at $150.Author: Grzegorz Dróżdż, a Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Read more reviews and open a demo account at invest.conotoxia.com Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

China's macroprudential changes help propel the CNY against a much weaker USD backdrop as the pivot story gets a nudge from the Bank of Canada Source: shutterstock Macro outlook Global Markets: A disappointing revenue forecast from Facebook parent, Meta, helped push the NASDAQ down more than 2% yesterday, though there was a much smaller decline from the S&P500, which fell only 0.74%, holding just above support levels. Futures markets indicate a return to growth today. Yesterday's Asian equity markets were also mostly positive, and despite the US moves overnight, the mood looks fairly positive today. This could also set up Asian FX for another positive day after currencies made strong gains yesterday. The THB and CNY led the charge in Asia, with the CNY surging 1.33% taking it all the way back to 7.1730 from about 7.30 earlier in the session. Reuters reported that state-owned Chinese banks were sellers of USD on Tuesday to support the yuan, which suggests that this may also have been what happened yesterday. And there were also policy measures from the PBoC which also helped (see China section below). The USD was weaker across the board after the Bank of Canada raised rates only 50bp – lower than the market had been expecting – citing recession fears. The knock-on from this dragged down implied rates in the US and pulled down the 2Y US Treasury yield by 5.6bp, and the 10Y yield by 9.9bp, which is now only just above 4%. EURUSD was another beneficiary of the lower US yield environment, pushing back above parity for the first time since late September and ahead of today's ECB meeting. The AUD is back to 0. 6490 after a massive surge, and Cable has risen to 1.1631, its highest in more than a month. The USD weakness was also evident in the JPY, which returned to 146.22. The market will no doubt be awash with speculation about whether this represents part of the “pivot” story, which some elements have been desperate to see unfolding. Next move – the Fed. They can either quash any such thoughts or, as it seems to have been doing recently, kindle them with some encouraging noises even as it hikes rates by 75bp next week (03 November). We will see… G-7 Macro: Besides the Bank of Canada decision yesterday, it was a quiet day, with only US new home sales for September worth much of a look, and they were actually a fair bit better than had been expected. The September US trade figures were also out and showed the deficit widening back out to -USD92.2bn, which also won’t have helped the USD.  Today, the ECB takes centre stage, and they are expected to raise the refi rate by 0.75% to 2.0%. Later on, we get the advance 3QGDP release from the US. Bloomberg consensus estimates put this as rising 2.4% (saar), bringing the technical recession to an end, but maybe providing some pointers at a looming “non-technical” recession in the coming quarters.   China: The PBoC, China’s central bank, raised its macro-prudential parameter for cross-border finance from 1.0 to 1.25 yesterday. The last time PBoC implemented an increase of this parameter was in March 2020 when the yuan depreciated to over 7.1. Back then, the yuan peaked a little later (May 2020). During that time, State-owned enterprises (SOEs) with offices offshore (e.g. Hong Kong), sent more USD to onshore parent companies, which would then convert this into yuan. Some converted USD to yuan offshore and sent yuan onshore. The result was the same, namely that there was more demand and therefore, a stronger yuan. The PBoC is now using the same tool. As noted above in the section on global markets, this move comes against a backdrop of uncertainty about the Fed’s ongoing rate hike speed and Fed forward guidance next week will be important for the yuan's coming path. South Korea: GDP recorded a 0.3%QoQ (sa) gain in 3Q22 (vs 0.7% in 2Q22). Reopening-boosted pent-up consumer spending slowed while investment showed a more resilient recovery. Based on the grim outlook for consumption and exports from recently released data, we maintain our view that the economy will experience a moderate recession early next year. What to look out for: ECB meeting and US GDP South Korea GDP (27 October) China industrial profits (27 October) ECB meeting (27 October) US durable goods, initial jobless claims and 3Q GDP (27 October) Tokyo CPI inflation (28 October) Australia PPI inflation (28 October) Taiwan GDP (28 October) US personal spending, core PCE and Univ of Michigan sentiment (28 October) Read this article on THINK TagsEmerging Markets Asia Pacific Asia Markets Asia Economics Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

Summary:  Market sentiment is choppy after a boost yesterday as the Bank of Canada decided to only hike 50 basis points rather than the 75 basis points expected, encouraging the narrative that peak central bank hawkishness may be in the rear-view mirror. Alas, equities closed weaker in the US and after hours, a dire earnings report from Meta dented sentiment further and crumpled Meta stock nearly 20%. Elsewhere, the USD remains weak on retreating treasury yields. What is our trading focus?   Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) With weak technology earnings from Microsoft, Alphabet, and especially Meta last night the focus is currently on Nasdaq 100 futures. Despite a falling Nasdaq 100 yesterday, the index futures are attempting a rebound this morning, which is quite surprising given the lackluster outlook on technology earnings. Nasdaq 100 futures are trading around the 11,485 level with the natural resistance at around 11,713. If downside momentum continues, which could happen after potentially weak outlook from Apple and Amazon tonight, then the 11,000 level is the natural support level to watch. Euro STOXX 50 (EU50.I) Rallied yesterday to the 3,600 level and the index futures are currently hovering around this level in early morning trading. European equities are enjoying tailwind from easing energy and electricity prices due to wild weather and better than expected earnings showing more relative strength than US equities that are heavily impacted by the technology sector. Interest rate pressures and the strong USD are also easing, reducing the pain from financial conditions. If upside momentum continues the 200-day moving average at 3,685 is the next natural resistance level to watch. FX: USD remains down for the count, USDJPY nearing important support The drop in treasury yields has trumped choppy risk sentiment in driving USD weakness over the last couple of sessions, as key USD pairs saw the USD breaking down through key support: parity fell in EURUSD, the 1.1500 level in GBPUSD fell, and the 0.6400 area in AUDUSD likewise gave way. Interesting to note that even CAD managed to stabilize versus the greenback despite the smaller than expected hike from the Bank of Canada (more below). The next important USD support level to watch is perhaps 145.00 in USDJPY, which was an important line of resistance on the way up for the pair. A significant test below that level would likely require that US treasury yields continue lower – with 4.00% in the US 10-year benchmark a key focus over the next batches of data and the FOMC meeting next Wednesday. Gold (XAUUSD) and silver (XAGUSD) Both have steadied after receiving a boost from a weaker dollar and continued decline in US bond yields on speculation the US economy is getting close to rolling over. The attention is now turning to next week’s FOMC interest rate decision on November 2. While another bumper 75 basis points hike is expected, the FOMC may tilt towards slowing the pace at future meetings while assessing the impact of their rate and quantitative tightening actions. As a minimum gold needs to break above $1730 before an end to the month-long downtrend can be called. Until then watch the dollar and yields for inspiration, while silver needs a break above $20. Crude oil (CLZ2 & LCOZ2) Crude oil trade higher for a third day near a two-week high supported by a softer dollar and tightening product markets due to a post-pandemic reduction in refinery capacity and buyers avoiding Russian barrels. Developments that saw US exports of crude fuel hit a record 11.4 million b/d last week at a time where domestic fuel supplies already are at a historic seasonal low. Fuel market tightness has seen refinery margins and not least diesel prompt futures spreads in NY and Europe trade sharply higher, thereby underpinning the price of crude while at the same time highlighting the ineffectiveness of releasing strategic reserves of crude when its products that are needed. Look out for additional technical upside in WTI above $89.25 while Brent’s next level of resistance is the October high at $98.75. High Grade Copper (HGc1) Broke higher on Wednesday and out of the narrowing range that has prevailed since July. While a tight supply outlook, both in London and Shanghai, has been lending support in recent weeks, the latest upside attempt was driven by the weaker dollar, especially against the yuan which reversed sharply higher on Wednesday after China’s central bank and foreign exchange regulator said they would maintain the healthy development of stock and bond markets while calling for a stable yuan. Speculators hold a neutral to bearish view on copper and for that to change the technical outlook needs further improvement. Support at  $3.50 with resistance being the recent highs at $3.59 and $3.69. US treasuries (TLT, IEF) US treasury yields fell again yesterday, with the US 10-year treasury yield benchmark eyeing the important 4.00% level that was an important support level for the market as yields rose. The 2-year yield also eased lower, closing at a 2-week low near 4.40% as the market slowly unwinds forward tightening expectations from the Fed. The smaller than expected Bank of Canada hike yesterday was a contributor to that move (more below). An auction of 5-year  US Treasuries yesterday saw strong demand, also from foreign bidders. What is going on?    Meta shares plunge on huge losses on ‘Metaverse’ bet Meta shares were down 5.6% in yesterday’s primary equity sessions dragged down by Alphabet’s Q3 results showing significant slowdown in the global advertising market. However, the losses intensified in after-market trading down 20% as Q3 earnings showed a sharp decline in operating income and –5% y/y revenue growth. But as we wrote yesterday investors are sending the signal to Mark Zuckerberg that he should slow down the ambitions and cost associated with the Metaverse, but he is doubling down increasing the losses for next year and with revenue in its metaverse division missing big against expectations the growth profile of the company is coming down hard. This was a very ugly earnings release. Bank of Canada surprises with smaller than expected rate hike  The BoC only hiked 50 basis points, a surprise as the market had mostly priced a 75-bp move on the back of the most recent September CPI data surprising to the upside. The Bank’s statement still committed to further tightening in an “overheated” economy but was cautious on how much the rate tightening regime is already impacting growth, noting the increasing evidence of a slowdown in the interest rate sensitive parts of the economy, like housing. The Bank expects growth to be “close to zero” in the next few quarters. Canadian 2-year rates plunged some 25 basis points in the wake of the decision. Interestingly, while USDCAD jumped well over a figure higher on the back of the decision, much of that move was erased in the ensuing hours as the BoC caution encourages the notion that the Fed may also be set to wax more cautious at next week’s FOMC meeting.  UK Budget Statement delayed until November 17 The government was set to deliver a budget statement next Monday, October 31, but that has been delayed to give new Prime Minister Rishi Sunak and the reappointed Chancellor Jeremy Hunt time to assess how to cut spending some £35 billion to further improve the fiscal deficit trajectory after the recent wipeout in the UK gilt market and sterling on fears of spiraling deficits. What are we watching next?    ECB meeting up today The ECB is set to hike rates 75 basis points today, taking the deposit rate to 1.50%. The central bank is already in hot water with Italy’s new Prime Minister Giorgia Meloni, who weighed in against the ECB hiking rates in pointed comments in her first speech as PM yesterday. The ECB is also seen likely to grapple with preventing banks from profiting from rising rates and with its awkward message on eventual quantitative tightening, as the central bank deals with the unique issue of “fragmentation”, the uneven transmission of policy due to multiple sovereign bond markets across the Eurozone.  The bank is expected to hike 50 basis points more in December. Bank of Japan meeting tonight – will the cracks begin to show? No sign that Governor Kuroda and company are set to surrender on YCC policy, and the easing lower of yields this week has given the JPY enough of a boost that the BoJ is under less pressure tactically to cave on its commitment to easing. USDJPY 145.00 an important focus technically for JPY traders. The final US macro data points ahead of Nov 2. FOMC meeting The market is clearly leaning for more cautious guidance from the Fed on its tightening regime after the market had recently finally capitulated and accepted that the Fed is likely to take rates as high as, or higher than forecast in the September FOMC meeting (the peak was slightly above 5.00% by next March, now having retreated to 4.81%), with low probability that 2023 will see any rate cuts. But will the crystallization of that view at the FOMC meeting next Wednesday feed further risk-on and a weaker US dollar? And then there is the next US data, of which we haven’t seen enough for the Fed to draw any strong conclusions. The December 14 FOMC meeting will come after two more inflation prints and will offer a new set of forecasts. Perhaps the Fed will prefer to stay as quiet as possible next week, also given the mid-term elections on Nov. 8? Further out, stubbornly strong core inflation and/or activity surveys could spoil the plot and take yields back higher. The next important data points include today’s Q3 GDP estimate and weekly jobless claims, and we’ll have a look at the Fed’s preferred inflation gauge tomorrow – the PCE inflation data for September, followed by the October ISM Manufacturing survey next Tuesday. Earnings to watch Today’s US earnings focus is Apple, Amazon, Intel, and Caterpillar. The latest round of weak earnings from technology companies driven by margin pressure from input costs, such as energy and wages, and weaker advertising demand is likely to hurt Apple and Amazon tonight. The recent price hikes announced by Apple should mitigate some of the expected weakness in the outlook while Amazon will face triple pressure points in its e-commerce, advertising, and cloud business. Intel is likely going to report a weak earnings report and with an outlook negatively impacted by slowing PC sales and significant capital expenditures to reshore some of its chip production. Caterpillar is the beacon in construction and mining activity, and analysts expect revenue growth to remain high at 13% y/y with unchanged margin telling the story again that the physical world is right now enjoying an advantage over the digital world. Today: ANZ, Anheuser-Busch InBev, Argenx, Shopify, Teck Resources, Neste, Kone, TotalEnergies, EDF, STMicroelectronics, PetroChina, China Life Insurance, CNOOC, Oriental Land, Shin-Etsu Chemical, Takeda Pharmaceuticals, Hoya, FANUC, Shell, Lloyds Banking Group, Universal Music Group, Repsol, Ferrovial, Hexagon, Evolution, Credit Suisse, Apple, Amazon, Mastercard, Merck & Co, McDonald’s, Linde, Intel, Honeywell, Caterpillar, Gilead Sciences, Pioneer Natural Resources Friday: Macquarie Group, OMV, ICBC, China Merchants Bank, LONGi Green Energy Technology, Midea Group, Imperial Oil, Danske Bank, Sanofi, Airbus, Volkswagen, China Construction Bank, Agricultural Bank of China, Bank of China, BYD, China Shenhua Energy, Eni, Keyence, Hitachi, Denso, Equinor, CaixaBank, Wilmar International, Swiss Re, Exxon Mobil, Chevron, AbbVie, NextEra Energy, Colgate-Palmolive, Royal Caribbean Cruises Economic calendar highlights for today (times GMT) 1000 – UK Oct. CBI Reported Sales 1215 – ECB Rate Announcement 1230 – US Q3 GDP Estimate 1230 – US Sep. Durable Goods Orders 1230 – US Weekly Initial Jobless Claims 1245 – ECB President Lagarde Press Conference 1430 – US Weekly Natural Gas Storage Change 1500 – US Oct. Kansas City Fed Manufacturing 1530 – Bank of England’s Woods to speak 1700 – US Treasury auctions 7-year notes 2100 – New Zealand Oct. ANZ Consumer Confidence 2330 – Japan Tokyo Oct. CPI 2330 – Japan Sep. Jobless Rate 0030 – Australia Q3 PPI Bank of Japan meeting Source: Financial Markets Today: Quick Take – October 27, 2022 | Saxo Group (home.saxo)

US stocks are struggling for direction after a mixed bag of earnings was accompanied by economic data that supports the idea that the economy is weakening. It looks like the economy is still headed for a recession, but that might reinforce Fed pivot calls which still seems to be driving some inflows back into equities. ​ ​ ​ Super Thursday will resume after the close when Apple and Amazon report after the bell. ​ ​ This is peak earnings season and at the end of the day, we will know if investors are going to shun tech stocks for a little while longer. ​ Facebook takes a hit Mark Zuckerberg is looking reckless here. Meta shares plunged after revenue collapsed and they decided to nearly double their CAPEX. ​ It looks like Sheryl Sandberg’s departure was well-timed as this ship is clearly sinking. ​ Artificial Intelligence (AI) investment was boosted and now everyone is expecting Meta to have a free cash flow problem. Caterpillar Caterpillar did not disappoint this earnings season. ​ The heavy-equipment maker did everything right last quarter. ​ Caterpillar posted a strong earnings beat, trimmed their CAPEX budget a little, signaled demand is strong and that highlighted that margins momentum will continue next quarter. ​ Caterpillar also noted ‘some pockets’ of supply chain improvement. What was also very positive is that Asia/Pacific sales were little changed despite the slowdowns that have hit that part of the world. ECB The ECB delivered a third major consecutive rate increase across all three key rates. ​ The 75-basis point hike was well-telegraphed and the comment that “inflation remains far too high” indicates more massive rate increases could be warranted. They signaled they expect to raise rates further and markets are still convinced that they could raise rates by 75bp again in December. It seems the market is convinced that the ECB’s hiking cycle won’t have to be as aggressive next year and traders are now expecting rates to peak at around the 2.75% level. TLTRO changes signals they are going to remove some of the excess liquidity and incentivize the banks to pay back cheap loans before rates go up. US GDP and more The US economy appears to have bounced back from those two negative GDP readings with a solid 2.6% improvement in economic activity. The strong headline number is welcome news, but when you dig into the numbers it is clear that an economic slowdown is here. The international trade component helped this quarter and that obviously won’t continue going forward. ​ Consumer spending is softening and prices are coming down quickly. ​ Business investment is clearly weakening. ​ ​ The labor market remains tight as jobless claims edged slightly higher. Hiring freezes will become a growing trend across corporate America, but layoffs still seem distant as job openings still remain healthy. FX Fed expectations still widely expect a 75 basis point rate increase next week and for a downshift to a half-point in December. ​ The Fed won’t want to lock itself into softening its stance against fighting inflation before the data confirms pricing relief. ​ The economy is slowing and that is sending Treasury yields lower as recession bets grow. ​ Safe-haven flows are powering both the yen and dollar today as global recession risks grow. Oil Crude prices are rallying after the US economy bounced back last quarter. ​ Oil’s gains are capped as the key takeaway from this morning’s swathe of economic readings is that an economic slowdown is here. ​ The dollar remains volatile but safe-haven flows should keep it supported over the short-term and possibly leading up to next week’s FOMC decision. Gold Gold prices aren’t doing much today after the ECB rate decision and a swathe of US data confirmed a global economic slowdown is here. ​ Global bond yields are heading lower and that is good news for bullion, but a major move seems like it might have to wait until next week’s FOMC decision. Cryptos Bitcoin’s rally has run out of steam. ​ Momentum from the rally above the $20,000 level has stalled out as risk appetite struggles to find solid footing post earnings and US economic data. The global crypto market cap is flirting with the $1 trillion level and that might remain a hard barrier to break away from. Bitcoin seems likely to consolidate leading up to the FOMC decision, but it could see further strength if the dollar continues to soften. ​ If Wall Street grows more concerned with the economic outlook, rates could slide even further, which is great news for crypto. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. OANDA - Super Thursday! Massive earnings day, US GDP, ECB raises rates, FX, crypto momentum stalls - MarketPulseMarketPulse

At the close of the New York Stock Exchange, the Dow Jones rose 0.61% to hit a monthly high, the S&P 500 fell 0.61% and the NASDAQ Composite fell 1.63%. The Dow Jones index Caterpillar Inc was the top performer among the components of the Dow Jones index today, up 15.18 points or 7.71% to close at 212.14. Boeing Co rose 5.97 points or 4.46% to close at 139.76. McDonald's Corporation rose 8.50 points or 3.31% to close at 265.11. The losers were shares of Intel Corporation, which lost 0.94 points or 3.45% to end the session at 26.27. Apple Inc was up 3.05% or 4.55 points to close at 144.80 while Nike Inc was down 2.00% or 1.85 points to close at 90.54. .  The S&P 500  Among the S&P 500 components gaining today were ServiceNow Inc, which rose 13.44% to hit 415.67, Arista Networks, which gained 9.31% to close at 119.12, and Caterpillar Inc, which rose 7.71% to end the session at 212.14. The least gainer was Meta Platforms Inc, which shed 24.56% to close at 97.94. Shares of Align Technology Inc lost 18.10% to end the session at 181.53. West Pharmaceutical Services Inc lost 13.04% to 221.22. The NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were AgroFresh Solutions Inc, which rose 71.34% to hit 2.69, HeartCore Enterprises Inc, which gained 55.67% to close at 1.51, and also shares of Altra Holdings Inc, which rose 48.37% to end the session at 59.72. The least gainers were Core Scientific Inc, which shed 78.13% to close at 0.22. Shares of Kalera PLC lost 65.43% and ended the session at 0.07. Quotes of Transcode Therapeutics Inc decreased in price by 37.39% to 0.72. The numbers On the New York Stock Exchange, the number of securities that rose in price (1,719) exceeded the number of those that closed in the red (1,357), while quotes of 128 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,941 stocks fell, 1,821 rose, and 212 remained at their previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.40% to 27.39. Gold Gold futures for December delivery lost 0.21%, or 3.50, to hit $1.00 a troy ounce. In other commodities, WTI crude futures for December delivery rose 0.73%, or 0.64, to $88.55 a barrel. Futures for Brent crude for January delivery rose 0.82%, or 0.77, to $94.56 a barrel. FX Market Meanwhile, in the Forex market, EUR/USD fell 1.14% to hit 1.00, while USD/JPY shed 0.10% to hit 146.21. Futures on the USD index rose 0.83% to 110.46.     Relevance up to 05:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/298704

    Relevance up to 06:00 2022-10-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/298727

China PMIs in the spotlight today as Covid cases rise again Source: shutterstock Macro outlook Global markets: US Stocks finished last week on a winning streak after 4 out of five days of gains for the S&P500 (even the one down day was fairly muted The index rose 2.46%, while the NASDAQ, which had been hit over the week by soft earnings and sales projections from major firms, rose 2.87%). The same cannot be said of Chinese stocks. The CSI300 finished down most days last week including Friday. US Equity futures are pointing to an essentially flat open today, with only a slight downward bias, which should leave most Asian markets (though perhaps not those in China) open to gains today. Currency markets (and bond markets) aren’t quite in synch with equities. EURUSD edged fractionally lower to 0.9959 and the AUD is back to just above 64 cents, while Cable is barely higher at 1.1599 while the JPY has returned to weakening, reaching 147.66. In other Asian FX space, moves have been quite muted, with the CNY showing the most weakness, moving up to 7.2524 from 7.229. The KRW was also soft, rising to 1421.60. At the other end of the spectrum, the PHP gained 0.43% on Friday taking it to 57.98. There were further outsize moves on bond markets at the end of last week. The 2Y US Treasury yield surged back by 14bp, as pivot doubts set back in, and 10Y US Treasury yields rose 9.4bp to 4.012%. G-7 macro:  Friday’s data releases included German October CPI inflation, which rose more than expected to 10.4% from 10.0% in September. The equivalent harmonised index inflation rate rose to 11.6% YoY.  In contrast, in the US, the PCE deflator inflation rate for September rose slightly less than expected, coming in flat at 6.2% YoY, while the core rate also slightly undershot expectations, rising only to 5.1% from 4.9% (5.2% expected).  University of Michigan 1Y inflation expectations also drifted off by 0.1pp to 5.0%, while the 5Y rate remained at 2.9%. None of which really fits in with the price action in the bond market on Friday. Today, Eurozone CPI due today will likely go the same way as the October German figures, namely rising, with some upside risk to the consensus forecast of a 10.3%YoY rate. German retail sales for September are expected to fall sharply. It’s a pretty quiet day for US data. China: PMIs for October will be released this morning at 09:30 Hong Kong / Singapore time. The data could show a mixed bag of growth and contraction in sub-indices of both manufacturing and non-manufacturing PMIs. There was a long holiday in October, which should lead to increases in retail and travel on a monthly basis. This should also result in stable month-on-month manufacturing even though October is still the peak-export season in China. Adding more complications is the number of covid cases, which climbed towards the end of October and should lead to a fall in activity in the last week of October. Adding up all these factors means there is more uncertainty in the economy. The number of Covid cases has climbed and some infection cases from a Foxconn factory have returned to their hometowns, which may increase the number of Covid cases further in the less healthcare-equipped rural areas. This will drag on production and exports for the economy in November. Depending on the number of Covid cases in big cities and therefore the scale of possible lockdowns, we should be cautious about the growth prospect of the economy in the coming months. Korea: September IP was weaker than expected, and also weaker than what last week’s 3QGDP had suggested. Manufacturing IP contracted -1.8% MoM in September (vs -1.4% revised August, -0.8% market consensus), recording the third monthly drop. Weakness in September was mainly driven by semiconductors (-4.5%) and basic metals (-15.7%). POSCO closed some facilities due to a typhoon in September and expects to gradually recover within a few months. Service sector output, which was the driver of growth, declined -0.3% in September (vs 1.8% in August) with retail/wholesale and health/social welfare down -2.1% and -1.0%, respectively. The forward-looking orders data was a bit mixed. Machinery orders declined in September but still recorded a solid gain in three-month sequential terms. For construction orders, these rebounded sharply in September, mainly led by non-residential construction such as factories, warehouses, and civil engineering. Japan: Monthly activity data has been mixed. September Industrial production declined -1.6%MoM sa in September (vs 3.4% in August, -0.8% market consensus). In contrast, retail sales were stronger than expected (+1.1% in September vs 1.4% in August, 0.8% market consensus) with motor vehicles and household machines up sharply by 11.1% and 14.6% respectively.   India: Fiscal deficit numbers for September are due later today. The deficit tally has been broadly keeping track with what is needed to meet the Government’s 6.4% (GDP) deficit target for the fiscal year, so the appropriate metric here is how they perform relative to last year’s equivalent release, which came in at INR58,852 Crore. Australia: September retail sales rose by 0.6%MoM, higher than expected, and maintaining a strong run of readings. Floods in October in SE Australia may provide a speedbump. But for now, these numbers show few signs that spending is slowing enough to bring prices down.  What to look out for South Korea industrial production (31 October) Japan retail sales (31 October) Australia retail sales (31 October) China PMI manufacturing and non-manufacturing (31 October) Thailand trade (31 October) South Korea trade (1 November) Indonesia CPI inflation (1 November) US ISM manufacturing and JOLTS (1 November) South Korea inflation (2 November) Australia building approvals (2 November) Australia trade balance (2 November) US trade balance, durable goods orders and initial jobless claims (2 November) Japan Jibun PMI (3 November) Philippine trade and inflation (3 November) Thailand CPI inflation (3 November) Singapore retail sales (3 November) US non-farm payrolls (3 November) Read this article on THINK TagsAsia Pacific Asia Markets Asia Economics Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

October 2022 seems to have brought respite to many asset classes. During this time, the stock, bond or cryptocurrency markets tried to pick up, while the US dollar seemed to lose value at the same time, along with the falling VIX "fear index" contract. Performance of key indices and companies In October,one of the popular futures contracts, the contract for the U.S. Dow Jones Industrial Average index saw the biggest gains. It rose by almost 13 percent during this period. Although the month is not yet over, for the moment, only Verizon ranks in the entire index since the beginning of October with a negative result. On a monthly basis, the decline is 0.92 percent. In contrast, the biggest increase in the index was achieved by Caterpillar (up more than 30 percent). The company reported that sales and revenues in the third quarter of 2022 recorded an annual increase of 21 percent, reaching $15 billion. The company's profit was $2.04 billion, an increase of 43.13 percent compared to the same quarter of the previous year, BBN reported. Operating profit rose 45.73 percent year-on-year to $2.42 billion. Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel engines, industrial gas turbines and diesel-electric locomotives. Source: Conotoxia MT5, Caterpillar, Monthly DAX also with growth in October The second popular instrument, which seemed to rebound from earlier declines, was the contract for the German DAX index. Although emerging macroeconomic forecasts for the German economy appear to be worsening, and the European Central Bank raised interest rates, the DAX rose nearly 10 percent. The company that may have gained the most was Deutsche Bank, as the month's performance was up more than 30 percent by now. The German bank reported its best results since 2016 in October. Net income for the third quarter of 2022 was €6.9 billion, up 15 percent year-on-year and the highest third-quarter income since 2016. The dollar exchange rate fell nearly 1 percent. Market hopes that the U.S. Fed will slow down interest rate hikes at the end of the year and in the first quarter of 2023 may have led the U.S. dollar to fall in October. At the moment, the USD index is trading 0.9 percent lower than at the beginning of the month at 111 points. The EUR/USD exchange rate is near parity at 1.0000, all likely in anticipation of the Fed's November 2 interest rate decision. The market seems to be expecting a 75bp hike to 3.75-4.00 percent, while the end of the hike cycle could be priced in at 4.75-5.00 percent in early 2023. October's biggest declines? It seems that among the popular contracts, the biggest drop in October may be the VIX, which fell 15 percent to 26.86 points this morning. Looking at the chart of the contract showing expected volatility on the S&P500 index, someone could  see that this month's trading may have turned around at a potential resistance level. Source: Conotoxia MT5, VIX, Weekly Will volatility continue at lower levels in November? Here, a lot may depend on the US central bank and events in Eastern Europe. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Read more reviews and open a demo account at invest.conotoxia.com Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

At the close in the New York Stock Exchange, the Dow Jones fell 0.39%, the S&P 500 fell 0.75% and the NASDAQ Composite fell 1.03%. The Dow Jones The leading gainers among the components of the Dow Jones index today were The Travelers Companies Inc, which gained 2.59 points (1.42%) to close at 184.55. Quotes of Goldman Sachs Group Inc rose by 3.03 points (0.89%), ending trading at 344.85. UnitedHealth Group Incorporated rose 4.11 points or 0.75% to close at 555.35. The losers were shares of Intel Corporation, which lost 0.64 points or 2.20% to end the session at 28.43. Microsoft Corporation was up 1.59% or 3.74 points to close at 232.13, while Dow Inc was down 1.58% or 0.75 points to close at 46.73 . The S&P 500  Leading gainers among the S&P 500 index components in today's trading were Wynn Resorts Limited, which rose 9.61% to hit 63.90, Coterra Energy Inc, which gained 3.49% to close at 31.15, and also shares of DaVita HealthCare Partners Inc, which rose 3.47% to end the session at 72.99. The biggest losers were Global Payments Inc, which shed 8.83% to close at 114.25. Shares of Newell Brands Inc shed 8.24% to end the session at 13.81. Quotes of Meta Platforms Inc decreased in price by 6.09% to 93.16. The NASDAQ  The leading gainers among the components of the NASDAQ Composite in today's trading were Sonnet Biotherapeutics Holdings Inc, which rose 66.38% to 1.93, Acorda Therapeutics Inc, which gained 63.36% to close at 1.07. as well as shares of Shineco Inc, which rose 37.96% to close the session at 1.09. The biggest loser was Y mAbs Therapeutics, which shed 59.80% to close at 3.61. Shares of Tusimple Holdings Inc lost 45.64% to end the session at 3.43. Quotes Bull Horn Holdings Corp. decreased in price by 45.61% to 6.50. The numbers On the New York Stock Exchange, the number of securities that fell in price (1604) exceeded the number of those that closed in positive territory (1472), while quotes of 118 shares remained virtually unchanged. On the NASDAQ stock exchange, papers of 2004 companies fell, 1753 rose, and 165 remained at the level of the previous closing. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.50% to 25.88. Gold Gold futures for December delivery lost 0.53%, or 8.65, to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery fell 1.95%, or 1.71, to $86.19 a barrel. Futures for Brent crude for January delivery fell 1.32%, or 1.24, to $92.53 a barrel. Forex Meanwhile, in the Forex market, EUR/USD was down 0.80% to hit 0.99, while USD/JPY was up 0.87% to hit 148.74. Futures on the USD index rose 0.77% to 111.45.   Relevance up to 04:00 2022-11-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/299126

At closing time on the New York Stock Exchange, the Dow Jones was down 0.24%, the S&P 500 was down 0.41% and the NASDAQ Composite was down 0.89%. Dow Jones The leaders among Dow Jones index components in today's trading were shares of JPMorgan Chase & Co. which gained 2.28p (1.81%) to close at 128.16. Nike Inc rose 1.09 pct (1.18%) to close at 93.77. Goldman Sachs Group Inc rose 3.94p (1.14%) to close at 348.45. The least gainers were shares of Apple Inc, which fell 2.69p (1.75%) to close the session at 150.65. Salesforce Inc shares rose 2.79p (1.72%) to close at 159.80, while Microsoft Corporation dropped 3.96p (1.71%) to close at 228.17 S&P 500 The top gainers among S&P 500 index components in today's trading were ABIOMED Inc which gained 49.88% to 377.82, IDEXX Laboratories Inc which gained 9.80% to close at 394.93, and Hologic Inc which gained 9.34% to end the session at 74.13. Catalent Inc shares were the fallers, down 24.62% to close at 49.55. Shares of Zebra Technologies Corporation lost 15.86% and ended the session at 238.30. Ecolab Inc dropped 8.98% to 142.96. NASDAQ  The gainers among the components of the NASDAQ Composite index in today's trading were shares of ABIOMED Inc. which gained 49.88% to 377.82, Sonnet Biotherapeutics Holdings Inc. which gained 46.63% to close at 2.83 and shares of NLS Pharmaceutics AG which gained 44.00% to close the session at 0.74. Varonis Systems shares were the fallers, dropping 35.49% to close at 17.27. Shares of China Liberal Education Holdings lost 27.39% to end the session at 1.14. Acorda Therapeutics Inc. was down 25.22% to 0.80. On the NYSE, 1,960 securities gained more than 1,172 which closed negative and 95 were flat. On NASDAQ, 2,101 stocks gained in value, 1,680 declined, and 194 remained flat. The CBOE Volatility Index, which is based on the S&P 500 options trade, fell 0.27% to 25.81. Gold Gold futures for December delivery added 0.55%, or 8.95, to $1.00 per troy ounce. In other commodities, December WTI crude oil futures rose 2.02%, or 1.75, to $88.28 a barrel. January Brent crude futures traded up 1.83%, or 1.70, to $94.51 per barrel. FX Market Meanwhile, on the Forex market, EUR/USD remained unchanged 0.08% to 0.99, while USD/JPY dropped 0.33% to 148.23. The USD index futures rose 0.02% to 111.44.     Relevance up to 04:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/299302

Paramount Global missed Q3 consensus on top and bottom lines. PARA shares have sold off 10% after the earnings announcement. Streaming subscribers and revenue improved during the quarter. Paramount Global (PARA) collapsed 10% on Wednesday morning after unleashing a none-to-good quarterly report for the third quarter. The stock is now trading at a new all-time low of $17.25, although shares of the media company dropped below $17 in the premarket. Paramount Global earnings news Paramount missed Wall Street consensus for adjusted earnings per share (EPS) by 5 cents after the figure came in at $0.39. That number is down 48.7% compared with the same quarter in 2021. The bottom line figure was greatly affected by a $169 million charge for restructuring and other corporate needs. Revenue of $6.92 billion rose nearly 5% YoY but missed consensus by $130 million. Subscription revenue did improve, but investments in content and international expansion took that growth and then some. Advertising revenue in the company's broadcast TV division dropped 2% YoY, which management blamed on the macro picture. Total direct-to-consumer subscriptions, such as streaming, rose to 67 million customers. This segment includes Paramount+, PlutoTV and BET+. Paramount+ added 4.6 million subscribers during the third quarter, increasing revenue in the process by 95% YoY. Paramount Global stock forecast As already stated, PARA stock is at an all-time low. When this happens, there are no historical price levels to measure against, so instead we have to use the financial equivalent of alchemy – Fibonacci levels. As we have it, PARA has found early support on Wednesday at the 50% Fibo level, which in point of fact is not actually part of the Fibonacci sequence. A better estimate for the near-term bottom would be the 61.8% Fibo at $16.13. The 78.6% level at $15.05 also might be eyed by bears. Regardless, if PARA does bounce off of one of these levels, then expect a move toward the 23.6% Fibo level at $18.57. PARA daily chart

Roku cut Q4 revenue guidance by $94 million. ROKU stock has slid 20% on the outlook. ROKU share price is trading at January 2019 level. Roku (ROKU) stock appears ready to open on Thursday down a hefty 20%. The streaming company stock has sold off severely on the back of fourth-quarter guidance well below Wall Street's expectations. Management is now guiding for $800 million in Q4 revenue, while analysts had a consensus figure of $894 million. That latter consensus figure was already cut dramatically by about $300 million this year, so subsequent guidance below that level stunned the market. The share price of the pandemic favorite is now off 91% from its high of $490 back in July 2021. Roku earnings results For the third quarter, Roku delivered a GAAP earnings per share of $-0.88. This was much better than consensus of $-1.23 however. Revenue also outperformed earlier guidance, coming in at $761 million. That figure was about $68 million ahead of the forecast average. Revenue grew 12% YoY. Costs for the company ballooned, however. The Q3 operating loss of $147 million was much worse than the $69 million operating profit from Q3 2021. "Platform revenue was up 15% YoY to $670 million, representing 88% of total revenue," said CFO Steve Louden. "While platform revenue came in above our expectations and was a positive given the difficult macro environment, the advertising business continues to grow more slowly than our beginning of year forecast due to the current weakness in the overall TV ad market and the ad-scatter market in particular." Louden has found a successor CFO and will be leaving Roku shortly. Besides the worrisome lowered revenue guidance for Q4, management also said the fourth quarter loss could balloon to $-1.75, about 60 cents worse than earlier projections. Roku added 2.3 million new accounts during the third quarter for a total of 65.4 million. Average Revenue Per User (ARPU), however, grew by just 15 cents to $44.25. This is much slower growth than shareholders had gotten used to. During the pandemic, ARPU rose as much as $12 YoY during some quarters. Roku stock forecast The 91% drop-off in Roku's share price is one of the worst performances of any large-cap stock during 2022's tyrannical bear market. Readers will remember that Roku stock actually peaked in July 2021 several months before many of its peers, which mostly peaked in November. By November of 2021, Roku stock had already reached oversold levels on the weekly Relative Strength Index (RSI). Now with its share price in the low $40s, Roku is trading at this price level for the first time since January 2019. There is only one historical support level here, which can be seen on the weekly chart below. The $27 price level was the December 2018 low four years ago. At this point, ROKU shares have been bouncing in and out of oversold levels for a year now, while the share price has continued to sink. At the moment ROKU is not even at oversold levels, because the RSI is "relative". There are no positives here. Despite Roku selling for two times the revenue, the chart leads us to believe that Roku will not bounce back anytime soon. ROKU weekly chart

At the close of the New York Stock Exchange, the Dow Jones rose 1.26%, the S&P 500 rose 1.36%, and the NASDAQ Composite rose 1.28%.  Dow Jones The leading performer among the components of the Dow Jones index today was Nike Inc, which gained 5.43 points (6.01%) to close at 95.83. Quotes Dow Inc rose by 2.52 points (5.41%), ending trading at 49.01. Caterpillar Inc rose 4.37% or 9.58 points to close at 228.84. The least gainers were Salesforce Inc, which shed 6.54 points or 4.47% to end the session at 139.79. UnitedHealth Group Incorporated rose 5.46 points (1.00%) to close at 538.15, while Apple Inc shed 0.27 points (0.19%) to end at 138. 38.  S&P 500 Leading gainers among the S&P 500 index components in today's trading were Freeport-McMoran Copper & Gold Inc, which rose 11.53% to 35.20, Estee Lauder Companies Inc, which gained 8.69% to close at 210.62, as well as Newmont Goldcorp Corp, which rose 8.55% to end the session at 41.02. The least gainers were Warner Bros Discovery Inc, which shed 12.87% to close at 10.43. Shares of Live Nation Entertainment Inc shed 7.25% to end the session at 70.88. ServiceNow Inc lost 6.12% to 361.95. NASDAQ Among the components of the NASDAQ Composite Index today, the leaders of growth were Huadi International Group Co Ltd, which rose 70.26% to 180.00, Sentage Holdings Inc, which gained 34.54% to close at 4.09 , as well as shares of Digimarc Corporation, which rose 29.35% to close the session at 18.95. The least gainers were Pulmonx Corp, which shed 60.94% to close at 4.82. Shares of Funko Inc lost 59.38% and ended the session at 7.92. Quotes of Sensus Healthcare Inc decreased in price by 51.23% to 6.34. The numbers On the New York Stock Exchange, the number of securities that rose in price (2275) exceeded the number of those that closed in the red (839), while quotes of 85 shares remained virtually unchanged. On the NASDAQ stock exchange, 2070 companies rose in price, 1658 fell, and 202 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.96% to 24.55, hitting a new monthly low. Gold Gold futures for December delivery added 3.30%, or 53.90, to $1.00 a troy ounce. In other commodities, WTI crude for December delivery rose 5.08%, or 4.48, to $92.65 a barrel. Futures for Brent crude for January delivery rose 4.24%, or 4.01, to $98.68 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 2.16% to hit 1.00, while USD/JPY shed 1.12% to hit 146.60. Futures on the USD index fell 1.91% to 110.65.     Relevance up to 04:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/299846

At the close on the New York Stock Exchange, the Dow Jones rose 1.02% to hit a monthly high, the S&P 500 index grew 0.56%, the NASDAQ Composite index climbed 0.49%. Dow Jones Amgen Inc was the top performer among the components of the Dow Jones in today's trading, up 15.37 points or 5.55% to close at 292.39. Quotes Boeing Co jumped by 4.71 points (2.86%), closing at 169.62. American Express Company rose 2.19% or 3.22 points to close at 150.20. The worst performers were Walgreens Boots Alliance Inc, which shed 0.30 points or 0.78% to end the session at 38.29. The Walt Disney Company was up 0.53 points (0.53%) to close at 99.90, while Chevron Corp was down 0.27 points (0.15%) to close at 185. 34. S&P 500 The top performers in the S&P 500 index today were SolarEdge Technologies Inc, which surged 19.13% to 251.73, Expeditors International of Washington Inc, which gained 9.06% to close at 104.40, as well as Welltower Inc, which increased by 8.22% to end the session at 66.51. The least gainers were Take-Two Interactive Software Inc, which shed 13.68% to close at 93.57. Shares of Medtronic PLC lost 6.25% to end the session at 80.19. Quotes of International Flavors & Fragrances Inc decreased in price by 4.96% to 91.41. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Taskus Inc, which rose 37.22% to hit 22.01, GrowGeneration Corp, which gained 35.05% to close at 4.47, and Skywater Technology Inc, which rose 31.60% to end the session at 11.37. The least gainers were Bioventus Inc, which shed 57.51% to close at 3.00. Shares of R1 RCM Inc lost 49.76% and ended the session at 7.41. Quotes of Athersys Inc decreased in price by 43.36% to 1.28. The numbers On the New York Stock Exchange, the number of securities that rose in price (1834) exceeded the number of those that closed in the red (1256), while quotes of 125 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,894 stocks fell, 1,771 rose, and 259 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 4.89% to 25.54. Gold Gold futures for December delivery added 2.15%, or 36.20, to $1.00 a troy ounce. In other commodities, WTI crude for December delivery fell 2.83%, or 2.60, to $89.19 a barrel. Brent futures for January delivery fell 2.39%, or 2.34, to $95.58 a barrel. Forex Meanwhile, in the Forex market, EUR/USD climbed 0.56% to hit 1.01, while USD/JPY fell 0.73% to hit 145.55. Futures on the USD index fell 0.46% to 109.49.     Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/300198

At the close on the New York Stock Exchange, the Dow Jones fell 1.95%, the S&P 500 fell 2.08%, and the NASDAQ Composite index fell 2.48%. Dow Jones Merck & Company Inc was the top gainer among the components of the Dow Jones in today's trading, up 0.09 points (0.09%) to close at 101.59. Quotes of McDonald's Corporation fell by 0.61 points (0.22%) to end trading at 277.79. Procter & Gamble Company lost 0.33 points or 0.24% to close at 136.48. The least gainers were Walt Disney Company, which fell 13.15 points or 13.16% to end the session at 86.75. Chevron Corp was up 4.00% or 7.41 points to close at 177.93 while Dow Inc was down 3.97% or 1.97 points to close at 47.68. . S&P 500 Leading gainers among the S&P 500 index components in today's trading were Akamai Technologies Inc, which rose 6.19% to hit 89.08, Gen Digital Inc, which gained 6.01% to close at 22.92, and also shares of Bio-Rad Laboratories Inc, which rose 5.67% to end the session at 403.49. The least gainer was Walt Disney Company, which shed 13.16% to close at 86.75. Shares of Occidental Petroleum Corporation shed 9.22% to end the session at 67.93. Quotes Norwegian Cruise Line Holdings Ltd fell in price by 8.74% to 15.77. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Merrimack Pharmaceuticals Inc, which rose 212.75% to 12.51, Outset Medical Inc, which gained 29.90% to close at 14.90, and also shares of Neurobo Pharmaceuticals Inc, which rose 29.60% to close the session at 1.62. The least gainers were Clovis Oncology Inc, which shed 71.62% to close at 0.28. Shares of Telos Corp lost 68.84% and ended the session at 3.44. Quotes of Athersys Inc decreased in price by 56.45% to 0.56. Numbers On the New York Stock Exchange, the number of securities that fell in price (2539) exceeded the number of those that closed in positive territory (564), while quotes of 97 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,848 stocks fell, 900 rose, and 221 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.15% to 9/26. Gold Gold futures for December delivery lost 0.44% or 7.60 to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery fell 3.77%, or 3.35, to $85.56 a barrel. Futures for Brent crude for January delivery fell 3.15%, or 3.00, to $92.36 a barrel. Forex Meanwhile, in the Forex market, EUR/USD was down 0.62% to hit 1.00, while USD/JPY was up 0.52% to hit 146.41. Futures on the USD index rose 0.75% to 110.37.   Relevance up to 03:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/300382

ETF (exchange-traded fund) a type of passive fund that is designed to reflect the behavior of specific indices, or sectors. With this, we can achieve exposure to a particular market, sector or country while keeping costs low. Thanks to this, we don't have to buy, for example, all 500 companies in the S&P 500 index. So we decided to check which of these funds could achieve the most interesting results in the last 3 months. Fund performance Of the 200 funds surveyed, 24 percent had a positive return. The average volatility of the fund, measured by standard deviation, during the period was 15.12 percent. The largest index, the S&P 500, fell 7.17 percent during the period, reaching a volatility of 12.24 percent. It seems that based on this information, we can see the current moment of the business cycle. The best of the best If we wanted to juxtapose the best winners, we could compare their rates of return. However, it seems that such a comparison does not take into account the risk aspect of a given investment. For this purpose, we will use the Sharpe ratio, that is, the relationship of the achieved rate of return to the level of total risk (standard deviation), to measure the effectiveness of the investment. For this indicator, it is assumed that values above 50% are considered to be an outperformance of the market average over a long period.The iShares MSCI Turkey ETF (TUR) had the highest return, at 47.68 percent over the past quarter. The fund is designed to seek to track the investment performance of a broad index composed of Turkish stocks. It consists of 27.16 percent Turkish industrial companies and 19.47 percent material processing companies. The result of significant growth may have been influenced by rising inflation, which currently stands at, as much as 85.51 percent. Despite such a high decline in the value of the Turkish lira, the dollar-denominated ETF achieved such a result. Sharp for the period was 220.46 percent. Source: MT5, TUR, WeeklyThe second best return was achieved by the VanEck Oil Services ETF (OIH). The fund is designed to track the overall performance of companies listed in the United States and engaged in upstream oil services, which include oil equipment, oil services or drilling. Consisting of 25 companies, the fund's performance in the most recent quarter was 44.67 percent, with the Sharpe ratio at 185.51 percent. It appears that such strong performance may have been due to the oil market.In the final podium spot was the Invesco Energy S&P US Select Sector UCITS ETF (XLES), which, like its predecessor, mimics the performance of the US energy sector. This fund consisting of companies from the S&P 500 (US500) index, unlike its predecessor, is geared only towards energy companies. During the period under review, it achieved a performance of 29.77 percent with a Sharpe ratio of 182.51 percent. The result also seems to have been influenced by the price of oil The safest Among the funds with positive returns and the lowest volatility was the Xtrackers MSCI Japan UCITS ETF (XMUJ). A fund that gives exposure to key Japanese companies that hold a minimum of 85 percent of a given market. In addition, this dollar-denominated fund hedges against changes in the dollar-Japanese yen (USD/JPY) exchange rate. Volatility during the quarter under review was only 6.05 percent, and the fund was up 1.15 percent despite fluctuations in Japan's main NIKKEI 225 (JP225) index. The Sharpe ratio was 18.99 percent during the period under review. Source: MT5, XMUJ, DailyThe iShares MSCI India UCITS ETF (NDIA), which seems to have been growing rapidly for years, came in second with exposure to the Indian economy. What may seem interesting is that it is 24.73 percent composed of companies in the financial industry. In second place in terms of weight are companies from the information technology industry accounting for 15.02 percent of the fund. The volatility for the stated period was 8.09 percent with a performance of 3.47 percent. This gives a performance-to-volatility ratio (Sharpe's) of 42.89 percent.Specially highlighted ones include the AXS First Priority CLO Bond ETF (AAA), which boasts a volatility of just 0.91 percent despite a -0.98 percent drop in value. Sharp Under normal circumstances, this fund invests at least 80 percent of its assets in AAA-rated tranches of top-priority debt backed by credit obligations. This fund can invest in bonds of any maturity. In addition, this fund is actively managed and does not seek to mimic the performance of any particular index. Most independent When we want to reduce portfolio risk, according to portfolio theory, we should look for asset classes that are least correlated with each other. We usually measure the level of dependence by the correlation level of two assets, where a correlation value of 1 means perfectly correlated assets, a value of -1 perfectly opposite correlated (when one goes up, the other goes down exactly the same amount), and a value of 0 means no dependence at all.The lowest dependency ratio relative to the largest S&P 500 index (US500) was demonstrated by the United States Oil Fund, LP (USO), which seeks to reflect changes in the price of oil by investing in futures contracts on this commodity with various maturities. After a period of three months, the fund achieved a return of 6.02 percent with a risk of 18.87 percent. The correlation index (correlation) was 0.24, which may indicate a low correlation to the broad market. The Sharpe for this fund was 31.93 percent. Source: MT5, USO, DailyAuthor: Grzegorz Dróżdż, a Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

This inflation report was a nice surprise. ​ Inflation has been very slow to come down, but this report gives up hope that this deceleration with pricing pressures might bring back hopes of a soft landing. The headline reading came in lower-than-expected, but most traders were focused with the month-over-month decline with core prices. ​ If this downward trajectory for inflation holds, then you can make a strong case that the bottom is in place for US equities. US stocks are rallying as Wall Street finally sees light at the end of the Fed’s tightening cycle tunnel. ​ This cool inflation report helped stocks post their best trading day in two years. ​ Treasury yields are in freefall, the dollar is tanking, and practically every risky asset is rejoicing over this inflation report. ​ ​ Inflation ​ ​ ​  Inflation has peaked but don’t hold your breath waiting for it to get to target. Inflation is cooling after the core reading only posted a 0.3% monthly increase. ​ The headline reading dropped more than expected to 7.7% from a year ago, which is noticeably better than the peak reading from June of 9.1%. Inflation almost always proves to be stickier, so traders should not be surprised if the descent in pricing pressures takes a little while longer. Good prices have been coming down and that was supported by lower readings from cars, apparel, and energy services. ​ Wall Street is closely watching shelter prices, which rose 0.8%, the most since 1990. ​ There was some optimism with housing affordability as the monthly gains slowed for rents. ​ Shelter prices always take the longest to come down, so investors will expect this key contributor to core PCE to remain hot for another quarter. ​ This inflation was a good sign that the Fed is on the right path to winning this war with inflation, but there will still be a lot of variables thrown its way over the next couple of quarters. ​ The Fed could easily bring rates to 5.00% and if inflation proves to be stickier, it could be as high as 5.50%. ​ FX King dollar has left the building after a soft inflation report cemented the Fed’s downshift to a slower pace of tightening and revived hopes of a soft landing. The price reaction to this inflation report was a bit excessive but could be justified if the next couple of inflation reports are just as cool. ​ ​ ​ ​ Cryptos A dark crypto period was supposed to begin following the FTX debacle, but a cooler-than-expected inflation report gave every risky asset a massive boost. ​ FTX contagion risks remain elevated and while today’s broad-based crypto rally is rather impressive with bitcoin rising over 10% and ethereum surging by 16%, investment into cryptocurrencies will likely struggle here as too many key institutional investors and crypto companies have money tied up with the bankruptcy bound exchange. ​ Until we see which players were impacted by FTX and if we see other exchanges vulnerable to a liquidity crunch, any crypto rebound might be faded. More details about the actions of FTX will lead to harsher regulatory guidelines for all crypto exchanges. ​ Reportedly FTX used customer assets for risky trades, which means it seems unlikely anyone will want to rescue this company. ​ ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Inflation cools, stocks post best day in two years, bye-bye king dollar, FTX debacle, cryptos rally on soft CPI - MarketPulseMarketPulse

As we slowly approach the end of the results season, we found ourselves with elections for the Senate and House of Representatives in the United States, after which we would find out whether Joe Biden's party would retain its majority in those chambers. In addition, we encountered a slump in the cryptocurrency market caused by the problems of the FTX exchange. Macroeconomic data This week it seems that we were able to relax relatively after last week's FOMC decision to raise interest rates in the United States and the announced use of all means by the Fed to choke off inflation. On Wednesday, we learned of the change in U.S. crude oil inventories, which rose by 3.25 million barrels (1.36 million barrels were expected) compared to the last period, in which they declined by 3.115 million barrels. We learned the results of the CPI inflation rate, which amounted to 7.7% y/y. (forecast 8 percent y/y). It seems that inflation surprises for another month in a row, falling, which could be perceived as a positive signal for the markets. Elections for the Senate and House of Representatives in the United States were held on Tuesday. The vote counting is still underway, but Republicans are in the lead in both chambers. Stock market On Monday, we were able to learn the results of gaming giants Activision Blizzard (Blizzard) and Take-Two (TakeTwo), among others. The former surprised positively, reporting earnings per share EPS of 0.68 (forecast 0.51). The second posted a loss per share EPS of -1.54 (forecast 1.38), in addition to reporting lower revenue than expected. Source: MT5, Blizzard, Daily On Tuesday, we learned the results of media giant Walt Disney (Disney), which reported a decline in earnings per share EPS to 0.3 (forecast 0.59). It seems that the entertainment industry is not doing well, which could support the thesis of the current economic slowdown. Today we were also able to learn how the medical industry has performed recently. Among other things, we learned about reports from the maker of medications and vaccines AstraZeneca (AstraZeneca), which showed earnings per share more than doubled relative to expectations. Medical instrument and machine manufacturer Becton Dickinson (BDickinson) showed earnings per share of 1.99, in line with expectations, on increased revenues. Elon Musk appears to be having problems with his workforce after taking over Twitter. After massive layoffs at the company, we could learn from the media about mistakes in this aspect and the dismissal of valuable employees, whom the billionaire seems to be trying to recruit back. Currency and cryptocurrency market After the publication of inflation from the US, the EUR/USD exchange rate broke out above parity and reached around 1.016 at its peak. It seems that the market needs to update its valuation when it comes to the announced US interest rate hikes, which may put pressure on the USD. Source: MT5, EURUSD, Daily Blood has been shed in the cryptocurrency market. After the largest crypto exchange Binance announced the sale of the FTT token (FTTUSD.p) belonging to the third largest FTX exchange, the price of the cryptocurrency fell from $26 to $2.7 (89 percent). This situation revealed the problems behind this exchange. This seems to have led to a massive outflow of capital from the virtual money market, as we could see from the largest of them. Bitcoin fell by more than 20 percent during this period, and the price of the second largest cryptocurrency ETH fell by about 28 percent. Source: MT5, FTTUSD.p, Daily What's in store for us next week? On Monday we would learn the GDP reading in the Cherry Blossom country. The current quarter-on-quarter forecast is for growth of 0.3 percent (previously 0.9 percent). China's reported year-on-year change in industrial production may seem key. The forecast, according to analysts, is for an increase of 5.2 percent (previously 6.3 percent). On Tuesday, we'll learn the results of Germany's ZEW economic sentiment index, which recently reached -59.2 points, where values below zero signify deteriorating economic conditions. On Thursday, we would find out how much inflation in the Eurozone was (forecast at 10.7 percent). Among the key Q3 earnings reports it seems we could count Monday's results from the largest retailer in the United States, Walmart (Walmart). On Tuesday, graphics card giant Nvidia (Nvidia) would present its report, along with one of the largest digital communications technology conglomerates Cisco (Cisco).Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

At the close of the New York Stock Exchange, the Dow Jones rose 3.70% to a one-month high, the S&P 500 rose 5.54% and the NASDAQ Composite rose 7.35%. Dow Jones  Salesforce Inc was the top gainer among the components of the Dow Jones in today's trading, up 14.24 points or 10.02% to close at 156.30. Quotes of Apple Inc rose by 12.00 points (8.90%), ending trading at 146.87. Home Depot Inc rose 24.95 points or 8.70% to close at 311.70. Shares of McDonald's Corporation led the decline, losing 1.91 points (0.69%) to end the session at 275.88. Merck & Company Inc was down 0.30 points (0.30%) to close at 101.89 while Amgen Inc was up 0.47% or 1.36 points to close at 291. .01. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Invesco Plc, which rose 17.85% to hit 18.75, Caesars Entertainment Corporation, which gained 17.83% to close at 50.62, and shares of T. Rowe Price Group Inc, which rose 16.36% to close the session at 124.65. The least gainers were McKesson Corporation, which shed 4.12% to close at 370.32. Shares of Cardinal Health Inc shed 2.79% to end the session at 77.93. Quotes of Altria Group decreased in price by 2.19% to 44.22. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Fast Radius Inc, which rose 156.19% to hit 0.26, SHF Holdings Inc, which gained 85.78% to close at 3.79, and also shares of EpicQuest Education Group International Ltd, which rose 73.79% to close the session at 1.79. The least gainers were Apyx Medical Inc, which shed 60.45% to close at 1.74. Shares of Veru Inc lost 53.56% and ended the session at 6.97. Quotes of AGBA Acquisition Ltd decreased in price by 50.89% to 5.50. Numbers On the New York Stock Exchange, the number of securities that rose in price (2830) exceeded the number of those that closed in the red (347), while quotes of 80 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,100 companies rose in price, 694 fell, and 216 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 9.81% to 23.53, hitting a new monthly low. Gold Gold futures for December delivery added 2.68%, or 45.95, to $1.00 a troy ounce. In other commodities, WTI crude for December delivery rose 0.55%, or 0.47, to $86.30 a barrel. Futures for Brent crude for January delivery rose 0.90%, or 0.83, to $93.48 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 2.03% to 1.02, while USD/JPY shed 3.97% to hit 140.62. Futures on the USD index fell 2.55% to 107.65.     Relevance up to 03:00 2022-11-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/300576

China boosts sentiment with plans for the property sector and measures to lessen the economic impact of zero Covid Source: shutterstock Macro outlook Global Markets: US stocks had another positive day on Friday continuing the positive momentum that the October CPI reading provided earlier in the week. The S&P500 rose 0.92%, while the tech-heavy NASDAQ rose 1.88%. Equity futures are signalling that this is far enough for now, though, and are indicating a small decline at the open. Asian equity futures are mostly signalling a positive start to trading today. With the public holiday on Friday in the US, there is no information from US Treasuries to input into the market moves of other assets, but in spite of this, EURUSD went in the direction of the equity markets on Friday, rising to 1.0327,  the AUD rose above 0.67, though has dropped back just below that level in early trading. Cable is sitting almost on top of 1.18 and the JPY is below 140 (139.30 at the time of writing). The Asia-Pacific currencies have made strong gains, most notably the high-beta KRW and THB. G-7 Macro: The G-20 conference in Bali, Indonesia, starts tomorrow. With the US and Russia unlikely to agree to anything substantive at this summit, the prospects for anything very useful are limited. Presidents Xi and Biden are expected to meet. North Korea’s recent missile belligerence will be raised. Later this week, the new UK Chancellor, Jeremy Hunt, will outline the UK government’s proposals to balance Britan's books. Spending cuts and tax increases look inevitable.  There are no notable macro releases in the G-7 today. China: China has released a 16-point plan to support the beleaguered property sector as well as a 20-point plan for reducing the economic costs of containing Covid. The moves will clearly provide some further support to China’s economy, though have to be factored in against the rising Covid case numbers being seen across the country. This is probably more relevant for the medium-term outlook. But it's an encouraging development. Further supportive changes cannot be ruled out.    India: India publishes October inflation data later today, and we are in line with the consensus in looking for the inflation rate to drop back below 7% YoY (6.7% expected, down from 7.4% in September). While this still leaves inflation above the top of the RBI’s 4%+/-2% target range, it means that we can start to think about a slower pace of tightening at the December meeting, with perhaps just one more 25bp hike in early 2023 before the RBI can take stock and pause. What to look out for: China activity data India CPI inflation (14 November) Philippines remittances (14-17 November) Japan GDP and industrial production (15 November) Australia RBA minutes (15 November) China activity data (15 November) Indonesia trade balance (15 November) US empire manufacturing and PPI inflation (15 November) Fed's Brainard, Harker, Cook and Williams speak (15 November) Japan core machine orders (16 November) Australia Westpac leading index and wage price index (16 November) US retail sales (16 November) Fed's Williams and Barr peak (16 November) Japan trade balance (17 November) Australia labor data (17 November) Singapore NODX (17 November) Malaysia trade (17 November) Bank Indonesia policy meeting (17 November) Bangko Sentral ng Pilipinas policy meeting (17 November) US housing starts and initial jobless claims (17 November) Fed's Waller, Bullard, Bowman and Mester speak (17November) Japan CPI inflation (18 November) US existing home sales (18 November) Fed's Kashkari speaks (18November) Read this article on THINK TagsEmerging Markets Asia Pacific Asia Markets Asia Economics Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

After Elon Musk took over Twitter, along with delisting the company's shares (delisting), he introduced an option to buy confirming account authentication with the Twitter Blue stamp for $8. As it turned out, this feature was used against US pharmaceutical company Eli Lilly (EliLilly), whose market value fell by nearly $20 billion. The situation on the Twitter platform In a post dated Friday, November 11, the impersonators wrote: "We are excited to announce insulin is free now." After the incident, ELI Lilly's share price fell by more than 5 percent. Only by the end of the day we could already read the following Tweet on the company's official profile: "We apologize to those who have been served a misleading message from a fake Lilly account. Our official Twitter account is @LillyPad."It seems that such events, where an asset rose or fell significantly after a Twitter post, we might have associated more with the cryptocurrency market or the tweets of Elon Musk himself. Interestingly, a similar event befell defense and aerospace company giant Lockheed Martin (Lockheed) on the same day. Source: MT5, Lockheed, Daily A bargain in the market, or a legitimate discount? The manufacturer of, among other things, insulin, or a vaccine for polio disease, which has been in existence since 1876, boasts Q3 revenues for this year of $29.24 billion, an increase y/y. of 2.5 percent, and operating profit (EBIT) of $7.2 billion (down 10.85 percent y/y). However, the company boasts a very good profitability (ROE) of 64 percent. According to Statista, the average profitability for the drug manufacturer sector in 2022 is 16.97 percent. This gives us a result more than 47 percentage points above the industry average. In addition, the company appears to classify itself as a passive company paying a regular dividend, which averages 1 percent of the share price per quarter.The current macroeconomic situation does not seem to have a negative impact on the company's stock price, whose shares have risen from a price of about $270 to $352 (30% YTD) since the beginning of the year. The annual risk for this company, as measured by standard deviation, was 28.04 percent, where it was 24.61 percent for the main S&P 500 index (US500) during the period. The maximum decline from local peaks (Drowdown) was 13.63 percent, compared to 25 percent for the S&P 500.In addition, the company's shares appear to present a correlation to the broad market of 0.48, which we could interpret that the company is moderately dependent on the market situation. What does Wall Street think of Eli Lilly's stock price? According to Market Screener, the company has 23 recommendations, most of which are buy recommendations. The average target price is set at $364.29, more than 3 percent higher than the last closing price. The highest target price is at $441, and the lowest is $202.Given the current situation, which seems to have no impact on the company's operations. The overvaluation of the stock after the entry from the fake account seems to be a signal for the price to return to pre-decline levels. Source: MT5, EliLilly, WeeklyAuthor: Grzegorz Dróżdż, a Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

At the close of the New York Stock Exchange, the Dow Jones fell 0.63%, the S&P 500 fell 0.89%, and the NASDAQ Composite index fell 1.12%. Dow Jones Merck & Company Inc was the top gainer among the components of the Dow Jones index today, up 2.39 points or 2.44% to close at 100.35. Quotes of Johnson & Johnson rose by 2.66 points (1.57%), ending trading at 171.91. Visa Inc Class A rose 1.86 points or 0.91% to close at 206.86. The least gainers were Walmart Inc, which shed 4.19 points or 2.94% to end the session at 138.39. Home Depot Inc was up 2.55% or 8.02 points to close at 306.92 while Dow Inc was down 2.24% or 1.19 points to close at 51. 95. S&P 500 Leading gainers among the components of the S&P 500 in today's trading were CF Industries Holdings Inc, which rose 5.21% to hit 107.76, PENN Entertainment Inc, which gained 4.59% to close at 37.63. as well as Moderna Inc, which rose 4.57% to close the session at 179.03. The least gainers were Hasbro Inc, which shed 9.86% to close at 57.16. Shares of Bath & Body Works Inc. lost 8.17% and ended the session at 33.06. Quotes of SVB Financial Group decreased in price by 6.73% to 219.76. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Opiant Pharmaceuticals Inc, which rose 111.58% to hit 20.10, Freight Technologies Inc, which gained 113.15% to close at 0.44, and also shares of Toughbuilt Industries Inc, which rose 72.27% to end the session at 3.79. The least gainers were Satsuma Pharmaceuticals Inc, which shed 83.22% to close at 0.68. Shares of Sellas Life Sciences Group Inc lost 43.96% to end the session at 2.55. Quotes of Nuwellis Inc decreased in price by 40.00% to 0.12. Numbers On the New York Stock Exchange, the number of securities that fell in price (2188) exceeded the number of those that closed in positive territory (956), while quotes of 111 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,257 companies fell in price, 1,538 rose, and 202 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 5.37% to 23.73. Gold Gold Futures for December delivery added 0.30%, or 5.30, to $1.00 a troy ounce. In other commodities, WTI crude for December delivery fell 4.24%, or 3.77, to $85.19 a barrel. Futures for Brent crude for January delivery fell 3.57%, or 3.43, to $92.56 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged at 0.21% to 1.03, while USD/JPY advanced 0.77% to hit 139.86. Futures on the USD index rose 0.53% to 106.73.       Relevance up to 03:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/300975

At the close of the New York Stock Exchange, the Dow Jones rose 0.17%, the S&P 500 rose 0.87% and the NASDAQ Composite rose 1.45%. Dow Jones Walmart Inc was the top performer among the components of the Dow Jones index today, up 9.05 points or 6.54% to close at 147.44. Nike Inc rose 2.32 points or 2.22% to close at 106.71. Salesforce Inc rose 3.41 points or 2.15% to close at 162.07. The least gainers were UnitedHealth Group Incorporated, which shed 10.74 points or 2.09% to end the session at 503.01. The Travelers Companies Inc was up 1.75% or 3.20 points to close at 179.50 while Verizon Communications Inc was down 1.59% or 0.61 points to close at 37.70. S&P 500 Leading gainers among the S&P 500 index components in today's trading were SVB Financial Group, which rose 9.18% to 239.93, Ceridian HCM Holding Inc, which gained 8.30% to close at 72.68. as well as Match Group Inc, which rose 6.66% to end the session at 51.92. The least gainers were Capital One Financial Corporation, which shed 7.18% to close at 103.56. Shares of Albemarle Corp shed 6.48% to end the session at 295.86. Quotes Synchrony Financial fell in price by 4.85% to 35.92.  NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Tenax Therapeutics Inc, which rose 45.74% to hit 0.14, Qurate Retail Inc Series B, which gained 37.28% to close at 7.14. , as well as shares of Exagen Inc, which rose 42.38% to close the session at 2.99. Shares of Jowell Global Ltd. were the biggest losers, losing 56.65% to close at 0.69. Shares of Fast Radius Inc lost 47.79% and ended the session at 0.10. Quotes of Kingstone Companies Inc decreased in price by 45.03% to 0.91. Numbers On the New York Stock Exchange, the number of securities that rose in price (2,346) exceeded the number of those that closed in the red (788), while quotes of 102 shares remained virtually unchanged. On the NASDAQ stock exchange, 2499 companies rose in price, 1319 fell, and 197 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.41% to 24.54. Gold Gold futures for December delivery added 0.29%, or 5.15, to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery rose 1.12%, or 0.96, to $86.83 a barrel. Futures for Brent crude for January delivery rose 0.62%, or 0.58, to $93.72 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.25% to 1.04, while USD/JPY fell 0.51% to hit 139.16. Futures on the USD index fell 0.15% to 106.37.   Relevance up to 03:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/301152

At the close of the New York Stock Exchange, the Dow Jones was down 0.12%, the S&P 500 was down 0.83% and the NASDAQ Composite was down 1.54%. Dow Jones McDonald's Corporation was the leading gainer among the components of the Dow Jones index today, up 4.67 points or 1.74% to close at 272.51. UnitedHealth Group Incorporated rose 8.51 points or 1.69% to close at 511.52. Home Depot Inc rose 0.96% or 2.98 points to close at 314.91. The least gainers were Salesforce Inc, which shed 6.95 points or 4.29% to end the session at 155.12. Intel Corporation was up 3.84% or 1.18 points to close at 29.53, while Dow Inc was down 2.11% or 1.09 points to close at 50.51. . S&P 500  Leading gainers among the S&P 500 index components in today's trading were TJX Companies Inc, which rose 5.19% to hit 79.02, Campbell Soup Company, which gained 3.89% to close at 50.71, and also shares of W. R. Berkley Corp, which rose 3.83% to end the session at 71.76. The least gainers were Advance Auto Parts Inc, which shed 15.06% to close at 156.24. Shares of Carnival Corporation shed 13.71% to end the session at 9.63. Quotes of Target Corporation decreased in price by 13.14% to 155.47. NASDAQ The leading gainers among the components of the NASDAQ Composite in today's trading were Fast Radius Inc, which rose 106.29% to hit 0.21, Qurate Retail Inc Series B, which gained 45.90% to close at 10.41 , as well as shares of InMed Pharmaceuticals Inc, which rose 36.33% to close the session at 3.79. The least gainers were shares of Dlocal Ltd, which lost 50.71% to close at 10.46. Shares of Brainsway Ltd lost 31.56% and ended the session at 2.19. Quotes of Cuentas Inc decreased in price by 28.00% to 0.25. Numbers On the New York Stock Exchange, the number of securities that fell in price (2104) exceeded the number of those that closed in positive territory (1012), while quotes of 119 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,616 companies fell in price, 1,142 rose, and 236 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 1.75% to 11/24. Gold Gold Futures for December delivery added 0.04%, or 0.65, to $1.00 a troy ounce. In other commodities, WTI crude futures for December delivery fell 1.83%, or 1.59, to $85.33 a barrel. Futures for Brent crude for January delivery fell 1.29%, or 1.21, to $92.65 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.43% to 1.04, while USD/JPY advanced 0.15% to hit 139.49. Futures on the USD index fell 0.13% to 106.15.     Relevance up to 03:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/301333

I think we will see the bear trend resume from 4000/4020. Nasdaq December shorts at key resistance today at 11850/950 are starting to work. A good chance the market has ended the counter trend correction & the bear trend resumes from here. Emini Dow Jones futures have recovered 61.8% of the losses for 2022. Incredible! The index is only down 3000 ticks or 8% from the all time high. 3 neutral candles indicate the recovery has run out of steam. Remember when support is broken it usually acts as resistance & vice-versa. Update daily by 06:00 GMT. Today's Analysis. Emini S&P December holding Fibonacci resistance at 4000/4020 yesterday starts to put bears in control. Minor support at 3970/60 has also held (as we trade sideways as predicted) but below a break below 3960 is likely today for a sell signal targeting strong support at 3925/15. A low for the day expected if test but longs need stops below 3900. A break below here is an important sell signal. Fibonacci resistance at 4000/4020 but we also have strong resistance at 4070/80 & shorts need stops above 4090. Nasdaq December could be nearing the end of the recovery now as we reverse from key resistance at 11850/950. Again shorts need stops above 12100. Bulls need a sustained break above 12100 for a buy signal. Our shorts at key resistance at 11850/950 held first support at 11750/700 perfectly yesterday but a break below 11700 is expected soon for a sell signal targeting 11580/540, perhaps as far as 11400/350. Emini Dow Jones tests resistance at 33700/800 & our shorts need stops above 34050. A break higher targets 32230/250. Our shorts at 33700/800 target 33400/350 but we should eventually continue lower for 33200 & support at 32800/700.

On Wednesday, we were able to learn about the Q3 financial report of the software giant Nvidia Corp. (Nvidia), a technology company that develops software and processors, among other things. Although the recent environment seemed unfavourable, the financial results may have positively surprised analysts. Is Nvidia's performance dependent on cryptocurrencies? Along with Intel and AMD, Nvidia is one of the top three suppliers of processors and graphics cards. It seems that one of its revenue drivers is the sale of chips, used especially in graphics cards. It could be thought that, due to their computing power, they were mainly bought by cryptocurrency 'miners' in recent years. Following recent problems and the bankruptcy of one of the largest cryptocurrency exchanges, bitcoin (BTC/USD) has seen a decline of more than 76% since its peaks. Read next: Many sued in FTX scandal, Elon Musk to reduce his time at Twitter, EU stocks edged higher on Thursday| FXMAG.COM However, Nvidia states: "We believe the recent transition in verifying Ethereum cryptocurrency transactions from proof-of-work to proof-of-stake has reduced the utility of GPUs for cryptocurrency mining." This category, according to the report, makes up around 1.2% of revenue, illustrating how small this segment is for the company. Source: Conotoxia MT5, BTCUSD, Weekly The company's Q3 revenue was US$5.93 billion (US$5.77 billion was expected), down y-o-y. by 22%. Cloud computing power sales service accounted for as much as 65% of the company's revenue and sales. This increased by 29% year-on-year. In second place was revenue from the gaming sector, accounting for 26% of revenue, but recording a decline of 51%, which appears to be the aftermath of the pandemic. With this data, we could say that Nvidia's performance does not appear to be linked to risks in the cryptocurrency market. An additional argument in favour of the independence of these assets is their correlation, which stands at 0.55 since the beginning of the year, which may indicate their low level of dependence. Earnings per share EPS for the period came in at US$0.58, below analysts' expectations (US$0.69 was expected). The company's gross margin was also negative, falling to 53.6% (previously 65.2%), which the company attributed to increased chip inventory due to falling demand in China. Maribel Lopez, principal analyst at Lopez Maribel comments: “...there is a long tail of AI workloads which will create a return to growth, but it may take several quarters ”. “The issue for Nvidia is the short term, the next several quarters will be rough. Investors will have to take a longer view, similar to what’s required with Intel." - Lopez said. What does Wall Street think of Nvidia shares? Source: Conotoxia MT5, NVDIA, Daily According to Market Screener, the company has 40 recommendations, with 'buy' opinions prevailing. The average target price is set at USD 200.93, 26% higher than the last closing price. The lowest target price is at USD 320 and the highest is USD 110. Author: Grzegorz Dróżdż, a Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

NVDA stock gains more than 2% after hours following Q3 earnings. Nvidia missed non-GAAP EPS consensus by 17%. Management expects Q4 revenue to be higher than Q3. Nvidia (NVDA) stock gained 2.2% to $162.60 late Wednesday despite the fact that the premier chip designer in the world missed the Wall Street non-GAAP line of $0.70 a share. Adjusted earnings per share (EPS) actually came in more than 17% below consensus at $0.52. "Why the advance for Nvidia price then?" you ask. It pretty much comes down to revenues. The market was expecting a third poor quarter in a row on the revenue front, but Nvidia emerged in Q3 with $5.93 billion. This was about $115 million ahead of the Street's average forecast. Nvidia earnings news The real silver lining, if you want to call it that, is that management pushed revenue expectations for Q4 higher than the present. Nvidia sales have been in a freefall for most of 2022 as many crypto miners have gone belly-up in the face of falling crypto prices and stopped buying their usual allotment of GPUs. Management, however, guided for $6 billion in Q4 sales, adding that the range was just 2% above or below that figure. The top line of that range at $6.12 billion was still about $20 million below the earlier analyst consensus, but the market has been optimistic this week. Much of that optimism is spillover from inflation data coming in soft and the US Midterm Elections having passed, but the market seems to believe that the worst is over for the semiconductor giant. Though Nvidia's share price remains down 47% year to date, NVDA stock has charged forward more than 35% in the past month. This does seem somewhat surprising, seeing as revenue is down about 17% YoY and EPS in Q3 was down by more than half over that same time period. Management's guidance for gross margin, however, also turned heads. Despite finishing the third quarter with a 56.1% adjusted gross margin, the executive said it would hit 66% in the fourth quarter. This signals to shareholders that notwithstanding the higher inventory levels reducing demand this year, Nvidia is not even close to being a price taker. While the gaming segment continues to deteriorate, down 51% YoY, data center revenue continued to outperform. Sales from that segment rose 31% YoY despite softness in China stemming from covid lockdowns. A big reason for its fall in gross margin during the quarter was a $700+ million charge caused by this lower demand from Chinese data centers. Read next: Many sued in FTX scandal, Elon Musk to reduce his time at Twitter, EU stocks edged higher on Thursday| FXMAG.COM Executives said the inability to sell its A100 and H100 data center processors to Chinese customers due to ongoing US sanctions also hurt results, but that Chinese customers instead chose to bulk up on other products. "We’re seeing surging demand in some very important sectors of AIs and important breakthroughs in AI," said CEO Jensen Huang, while noting that demand for general-purpose computing chips had slowed. "One is called deep recommender systems, which is quite essential now to the best content or item or product to recommend to somebody who’s using a device that is like a cell phone or interacting with a computer just using voice." Nvidia stock forecast Nvidia stock is beginning to trade lower in Thursday's premarket, however, alongside the broad market. Shares are off 1.4% in line with the Nasdaq Composite, so this does not seem to be a result of Nvidia's earnings. The major event has been St. Louis Federal Reserve President James Bullard saying that a "doveish" Fed policy from this point would still require a full one percentage point hike to the fed funds rate. If the market does seek support, NVDA stock can find it at the 9-day moving average near $153. A more drastic sell-off could force it down to the 21-day average at $140. For bulls to come back into this name, Nvidia stock needs to break above the Tuesday high at $170. The Moving Average Convergence Divergence (MACD) is still in a bullish crossover stance, but it has begun to move sideways. NVDA 1-day chart

At the close in the New York Stock Exchange, the Dow Jones fell 0.02%, the S&P 500 fell 0.31%, and the NASDAQ Composite fell 0.35%. Dow Jones The leading performer among the components of the Dow Jones index today was Cisco Systems Inc, which gained 2.20 points or 4.96% to close at 46.59. Merck & Company Inc rose 2.38 points or 2.38% to close at 102.31. Apple Inc rose 1.93 points or 1.30% to close at 150.72. The least gainers were Salesforce Inc, which shed 5.43 points or 3.50% to end the session at 149.69. The Walt Disney Company rose 2.66% or 2.50 points to close at 91.45 while American Express Company shed 1.27% or 1.93 points to close at 150. .64. S&P 500  Among the S&P 500 index components gainers in today's trading were Bath & Body Works Inc., which rose 25.18% to 38.97, Gap Inc, which gained 5.56% to close at 12.71., as well as shares of Qorvo Inc, which rose 5.25% to close the session at 97.70. The least gainers were West Pharmaceutical Services Inc, which shed 7.57% to close at 221.93. Shares of Norwegian Cruise Line Holdings Ltd shed 6.77% to end the session at 16.40. Paycom Soft quotes fell 5.73% to 318.34. NASDAQ  The leading gainers among the components of the NASDAQ Composite in today's trading were Ardelyx Inc, which rose 40.98% to hit 1.72, CytomX Therapeutics Inc, which gained 32.23% to close at 1.60, and shares of Cuentas Inc, which rose 28.00% to end the session at 0.32. The least gainers were shares of Inotiv Inc, which fell 56.97% to close at 6.82. Shares of Golden Sun Education Group Ltd lost 46.28% and closed the session at 2.31. Quotes Singularity Future Technology Ltd fell in price by 45.93% to 1.13. Numbers On the New York Stock Exchange, the number of securities that fell in price (1996) exceeded the number of those that closed in positive territory (1109), and the quotes of 147 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,280 companies fell in price, 1,467 rose, and 258 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.75% to 23.93. Gold Gold futures for December delivery lost 0.70%, or 12.40, to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery dropped 4.23%, or 3.62, to $81.97 a barrel. Futures for Brent crude for January delivery fell 3.08%, or 2.86, to $90.00 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.23% to 1.04, while USD/JPY rose 0.46% to hit 140.18. Futures on the USD index rose by 0.37% to 106.55. Relevance up to 03:00 2022-11-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/301521

UK Retail sales show signs of improvement Retail sales in the UK rose by 0.6% in October compared to the expected 0.5% increase and previous 1.5% decline as British consumers managed to recover slightly despite rising inflation and the ongoing cost of living crisis. While this may appear to be a positive sign, there is still a long way to go before the economic picture begins to look brighter, particularly after yesterday's statement from Chancellor Jeremy Hunt referring to a recession. The pound is starting Friday's session attempting to hold onto some gains with GBPUSD pair testing the 1.19 area after pulling back to 1.175 yesterday. Meanwhile, the FTSE100 remains in the 7370 points area and it remains to be seen if it will be able to extend the upward move or fall further as investors continue to be uncertain. Read next: NVIDIA (NVDA) Q3 earnings results outperformed part of the markets forecasts| FXMAG.COM Twitter saga continues as offices close  Twitter's turbulent story continues after Elon Musk's company just announced the closing of its offices effective immediately until next week. The decision came as a surprise to many, including the employees who were told to comply with company policy. This adds further uncertainty and skepticism as to how the new owner intends to transform the business that took months to acquire while continuing to be a controversial figure. While Twitter stock is no longer available on the market, this is certainly an interesting situation as it could have ramifications and effects on the market as a whole with many holding varying opinions on the matter. In either case, it seems that Elon Musk is willing to take chances and act in unexpected ways if it means achieving his vision for Twitter even if it costs him employees.

NIO is advancing in Friday's premarket. The Chinese EV maker has been hurt by renewed covid worries. Two analysts downgraded Nio stock this week. Nio (NIO) stock is advancing a little over a percentage point in Friday's premarket as the Chinese automaker continues to try to make up the ground it lost on Wednesday. In the middle day of this week, Nio stock gave up 8.5% on the news that Peking University was locked down due to a single covid case. Other rumors emerged that China is experiencing a covid resurgence, with some reports stating that authorities in the industrial hub of Guangzhou had set up temporary treatment centers and quarantine facilities. This is worrying, because Nio has already halted production twice this year to combat covid, and the news arrives just a week after Nio impressed shareholders by aiming for Q4 44% production growth in just one quarter. That is a lot of growth in a three-month time period, and any single obstacle could set the entire schedule back. Nio stock market news In addition to the covid situation battering Chinese share prices this week, Mercedes-Benz cut prices across the board on its Chinese stock of EVs. The lower end of these vehicles is thought to compete directly with Nio and more so now that prices have been reduced. In the case of the Mercedes-Benz EQE, the headline price was clipped by a little over 9%. This is quite poor timing as higher battery component prices in 2022 have hurt Nio's margins alongside the rest of the industry. Nio's adjusted earnings loss in the third quarter reported one week ago was nearly double what Wall Street had expected, primarily due to these higher input costs. Taking the lay of the land, two separate analysts cut their price targets on Nio stock on Thursday alone. UBS downgraded Nio from Buy to Neutral and cut its $32 price target the whole way to $13. Cutting your price target by more than half is never a good sign, but because it was about 25% above Nio's current price, shares closed up about 1.3% in the session. Barclays also clipped its price target from $19 to $18, noting the rising costs in the sector, but maintained its Overweight rating. One piece of news that may be spurring the Nio share price ahead is Thursday's Alibaba (BABA) earnings. As the most popular Chinese stock in the US market, Alibaba's quarterly earnings impressed the market by beating expectations for profitability and guiding for higher Q4 revenue. Other Chinese ADRs like NIO are benefitting from their national equity market standard-bearer. Nio stock market forecast Despite Wednesday's drawdown, Nio stock is 5.3% lower than a week ago, moving averages still have it looking bullish. The Moving Average Convergence Divergence (MACD) remains crossed over and driving upward, and the 9-day moving average remains 26 cents ahead of the 21-day average. Both of these instances should have traders watching for further upside price action. Resistance at $12 from November 7, as well as the 14th and 15th, will be top of mind for bulls at present. Beyond here lies another resistance point at $13 and then again at $16.54. The last one has a number of price action activities surrounding it and giving it an air of greater significance. A close above $16.54 places Nio stock in rally territory. Support sits between $9 and $9.50. NIO 1-day stock

S&P 500 bulls came back, 3,910 support held, and the dollar was unable to hold on to intraday gains really. In the European morning, I doubted the bearish shift materializing later today as the Fed speakers‘ risk-off momentum did wear off already yesterday. Precious metals are indeed leading the charge among real assets, and I‘m still not writing off crude oil. S&P 500 looks likely to conquer the low 4,010s today, which would flip the daily chart distinctly bullish again. Paying off not to panic – the Fed‘s ability to tighten in the face of slowing economy, is correctly being doubted – 4.50% Fed funds rate year end is still a great tightening achievement but stocks are willing to run higher in its face. Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there, but the analyses (whether short or long format, depending on market action) over email are the bedrock, so make sure you‘re signed up for the free newsletter and that you have Twitter notifications turned on so as not to miss any tweets or replies intraday. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook Fake breakdown on low volume attracting no sellers – that would be the most likely conclusion after today‘s closing bell. Credit Markets HYG posture is bound to improve further today – the downswing was bought, and white body candle awaits today while TLT more or less erases yesterday‘s decline. Gold, Silver and Miners We haven‘t seen an important precious metals top – the sector will likely hold on to and extend today‘s premarket gains. Silver is still recharging batteries, but will recapture $22 with ease. Crude Oil Oil downswing appears overdone, but unless $82.50 is recaptured and WTIC starts outperforming especially base metals, the short-term outlook is tricky. Oil stocks not joining in the slide, is though positive – so, I‘m not turning bearish.

At the close of the New York Stock Exchange, the Dow Jones rose 0.59%, the S&P 500 rose 0.48% and the NASDAQ Composite rose 0.01%. Dow Jones UnitedHealth Group Incorporated was the top performer among the Dow Jones index components in today's trading, up 14.69 points or 2.85% to close at 530.00. Quotes of Cisco Systems Inc rose by 1.20 points (2.58%), closing the session at 47.79. Merck & Company Inc rose 1.92 points or 1.88% to close at 104.23. The least gainers were Salesforce Inc, which shed 1.65 points or 1.10% to end the session at 148.04. Walgreens Boots Alliance Inc was up 0.95% or 0.38 points to close at 39.75 while Chevron Corp was down 0.60% or 1.10 points to close at 182. .99. S&P 500 Among the S&P 500 index components gainers today were Ross Stores Inc, which rose 9.86% to hit 107.59, Gap Inc, which gained 7.55% to close at 13.67, and shares of Lincoln National Corporation, which rose 4.37% to close the session at 37.73. The least gainers were Live Nation Entertainment Inc, which shed 7.85% to close at 66.21. Shares of Fortinet Inc lost 3.66% to end the session at 52.16. Diamondback Energy Inc lost 3.44% to 156.22. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were AGBA Acquisition Ltd, which rose 50.67% to hit 6.78, Paxmedica Inc, which gained 37.42% to close at 2.13, and shares of Mercurity Fintech Holding Inc ADR, which rose by 32.91%, ending the session at around 1.05. Shares of Kiora Pharmaceuticals Inc were the biggest losers, losing 35.85% to close at 3.83. Shares of Bit Origin Ltd lost 29.80% and ended the session at 0.15. Quotes of InMed Pharmaceuticals Inc decreased in price by 28.13% to 2.76. Numbers On the New York Stock Exchange, the number of securities that rose in price (1884) exceeded the number of those that closed in the red (1211), while quotes of 138 shares remained virtually unchanged. On the NASDAQ stock exchange, 1985 companies rose in price, 1772 fell, and 237 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.38% to 12/23. Gold Gold futures for December delivery lost 0.66%, or 11.65, to hit $1.00 a troy ounce. In other commodities, WTI crude for December delivery fell 1.73%, or 1.41, to $80.23 a barrel. Futures for Brent crude for January delivery fell 2.17%, or 1.95, to $87.83 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged at 0.36% to 1.03, while USD/JPY rose 0.13% to hit 140.37. Futures on the USD index rose 0.25% to 106.86. Relevance up to 03:00 2022-11-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/301736

The minutes of the November meeting of the Federal Reserve are expected to help shape the upcoming week on Wall Street, which is shortened due to the holidays. U.S. stock and bond markets will be closed Thursday, Nov. 24, due to the Thanksgiving holiday. Also, on Black Friday, trading will close early. The report on the discussions at the U.S. central bank meeting earlier this month, due out Wednesday, will be the highlight of the economic calendar in the coming days. The earnings calendar will also be relatively sparse as the third quarter reports come to a close. Stocks posted a loss last week despite a modest gain on Friday after hawkish statements from the Federal Reserve dampened optimism. The S&P 500 fell 0.7% last week: Nasdaq Composite lost about 1.6% as central bank members said they intend to continue aggressive policy tightening. The Dow Jones Industrial Average remained virtually unchanged over the week: Minutes from the latest meeting of the Federal Open Market Committee (FOMC) show that officials are planning a half-point rate hike at their December meeting. Fed Chairman Jerome Powell said at a press conference that he and his colleagues have some avenues to mitigate rising prices, acknowledging that the inflation picture has become more complex. An aggressive increase in interest rates could lead to a recession in the U.S. economy, and Fed officials have recently become more open about this risk. Goldman Sachs raised its Fed rate forecast to a range of 5% to 5.25%, adding another 25 basis point hike in May, noting that the investment bank's exposure to its Fed outlook has turned up. "Inflation is likely to remain uncomfortably high for a while, and this could put pressure on the FOMC to deliver a longer string of small hikes next year," economists led by Jan Hatzius said. Wall Street is nearing the end of its reporting season, but the results from Dell (DELL), J.M. Smucker (SJM), Zoom Video (ZM) and Dollar Tree (DLTR) will be some of the key corporate updates in the report. According to FactSet Research, fewer companies are expressing recession fears in the third quarter compared to the second quarter. Of the S&P 500 companies that reported earnings between Sept. 15 and Nov. 16, 26% fewer companies mentioned the term "recession," with 179 mentioning the word, compared with 242 in the reporting period for the most recent quarter. Still, according to FactSet, this quarter still ranks third among companies stressing fears of a potential economic downturn, at least since 2010.     Relevance up to 10:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327652

US stocks are rallying as Wall Street continues to expect the Fed to downshift their tightening pace next month and on optimism that the risk of a railroad strike fueling inflation is low. ​ The latest round of Fed speak did not teach us anything new. ​ The Fed’s Mester noted that long-term inflation expectations are reasonably anchored. ​ The labor market is a key concern for the Fed, and Mester also pointed out that labor demand is still outpacing supply. Recent trends however are showing the labor market is showing signs of cooling. ​ ​ Some investors are growing confident that the potential railroad strike might not be as troubling for inflation as the Railway Labor Act will prevent key interruptions. ​ ​ Some traders are looking ahead to the upcoming Minutes, but they are dated (before the cool October inflation report) and will likely show many Fed members have an unclear rate path as inflation is a tricky beast to slay. Read next: Gold could be in some way prevented from rallying by unstable COVID outlook| FXMAG.COM FX/Fixed income Risk appetite is making an appearance today and that is helping send the Treasury yields and the dollar lower. ​ The 10-year Treasury yield fell 4.3 basis points to 3.784%. ​ Cooling inflation drivers, mainly an overpriced weakening of China and the railroad strike impact, are helping drive the dollar down today. The dollar’s weakness might be limited as options markets are showing too many excessive bearish bets being placed by hedge funds and money managers. Best Buy Best Buy shares are rallying after they raised their holiday outlook. ​ This was a welcomed surprise from the retailer that many feared was going to see a weaker consumer refrain from purchasing new TVs, appliances, and other gadgets. It looks like Best Buy is not expecting a disappointing holiday season and that is positive news for other retailers. US Data The Richmond Fed’s regional surveys of business activity showed manufacturing activity continued to soften in November. The composite manufacturing index remained negative and shipment and employment deteriorated slightly. ​ The economy is clearly weakening here and inflation should continue to come down as wages and employment decline. ​ Price trends data was mixed as prices paid declined and prices received rose higher, but that was somewhat expected given the return of supply chain issues. China’s reopening will be key for inflation heading lower next year. Crypto Wall Street is mostly green today and that has provided a little boost for cryptos. ​ Bitcoin is back above the $16,000 level but still remains in the danger zone as everyone waits for the next crypto domino to fall. ​ It seems crypto traders are already pricing in a bankruptcy for crypto lender Genesis. ​ Contagion for FTX will impact many but it seems a fresh catalyst is needed for sellers to take control. Bitcoin could continue to stabilize here if Wall Street rebounds, but that seems unlikely as this bear market for stocks has yet to bottom out. ​ Bitcoin has support ahead of the $15,500 level but if that does not hold, technical selling could send prices toward the $13,500 region. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stocks rise on downshift hopes, Dollar lower for now, Best Buy brings holiday cheer, US data, Gold rebound faded, Crypto benefits from Wall Street rally - MarketPulseMarketPulse

At the close of the New York Stock Exchange, the Dow Jones rose 1.18% to a 3-month high, the S&P 500 rose 1.36% and the NASDAQ Composite rose 1.36%.  Dow Jones The leading performer among the Dow Jones index components in today's trading was Intel Corporation, which gained 0.88 points or 3.04% to close at 29.82. Salesforce Inc rose 4.40 points or 3.04% to close at 149.25. Walgreens Boots Alliance Inc rose 1.20 points or 2.96% to close at 41.79. The least gainer was Walt Disney Company, which shed 1.37 points or 1.40% to end the session at 96.21. Amgen Inc was up 1.11 points (0.39%) to close at 287.05, while Boeing Co was down 0.44 points (0.25%) to close at 172.50.   S&P 500 Leading gainers among the components of the S&P 500 in today's trading were Best Buy Co Inc, which rose 12.78% to 79.88, Agilent Technologies Inc, which gained 8.08% to close at 156.86. as well as shares of CF Industries Holdings Inc, which rose 6.72% to close the session at 109.68. The least gainers were Dollar Tree Inc, which shed 7.79% to close at 152.37. Shares of Rollins Inc lost 6.14% to end the session at 39.53. Quotes of Medtronic PLC decreased in price by 5.30% to 77.93.  NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Cosmos Holdings Inc, which rose 86.93% to hit 0.33, Palisade Bio Inc, which gained 81.08% to close at 4.02, and also shares of Motorsport Gaming Us LLC, which rose 51.11% to close the session at 6.80. The least gainers were Eqonex Ltd shares, which lost 32.81% to close at 0.14. Shares of WiSA Technologies Inc lost 21.56% and ended the session at 0.20. Quotes of AGBA Acquisition Ltd decreased in price by 22.94% to 4.87. Numbers On the New York Stock Exchange, the number of securities that rose in price (2345) exceeded the number of those that closed in the red (761), while quotes of 110 shares remained virtually unchanged. On the NASDAQ stock exchange, 2259 companies rose in price, 1542 fell, and 236 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.79% to 21.29, hitting a new 3-month low. Gold Gold futures for December delivery added 0.07%, or 1.15, to $1.00 a troy ounce. In other commodities, WTI crude for January delivery rose 1.41%, or 1.13, to $81.17 a barrel. Futures for Brent crude for January delivery rose 1.22%, or 1.07, to $88.52 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.62% to hit 1.03, while USD/JPY shed 0.65% to hit 141.20. Futures on the USD index fell 0.63% to 107.05.     Relevance up to 04:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/302134

MARKET WRAP: STOCKS, BONDS, COMMODITIES           On Tuesday, the S&P 500 regained the key level of 4,000 as it climbed 53 points (+1.36%) to 4003, its highest level in 2-1/2 months. The Dow Jones Industrial Average rose 397 points (+1.18%) to 34,098, and the Nasdaq 100 gained 171 points (+1.48%) to 11,724.While investors awaited Wednesday's release of minutes of the Federal Reserve's November meeting, the U.S. 10-year Treasury yield retreated 6.7 basis points to 3.760%.Semiconductors (+3.34%), energy (+3.18%), and consumer durables & apparel (+2.26%) sectors were market leaders.Best Buy (BBY) surged 12.78%, as the consumer electronics retailer raised its full-year comparable sales guidance.Agilent Technologies (A) jumped 8.07%, after the life science company posted better-than-expected quarterly earnings and raised its full-year earnings guidance.Dell Technologies (DELL) climbed 6.77% and Urban Outfitters (URBN) advanced 8.89%, as both companies' quarterly results exceeded expectations.On the other hand, Dollar Tree (DLTR) plunged 7.79% after the discount store chain said it now expects full-year earnings at the lower end of its target range.Zoom Video Communications (ZM) fell 3.87%, and Medtronic (MDT) dropped 5.30%, as both companies gave down-beat business outlook.Regarding U.S. economic data, the Richmond Fed manufacturing index posted at -9 for November (vs +5 expected).European stocks also closed higher. The DAX 40 rose 0.29%, the CAC 40 gained 0.35%, and the FTSE 100 was up 1.03%.Oil prices were boosted by Saudi Arabia saying that OPEC+ was sticking with output cuts. U.S. WTI crude futures gained $1.10 to $81.14 a barrel.Gold price added $2 to $1,740 an ounce.           MARKET WRAP: FOREX           The U.S. dollar index softened against other major currencies. The dollar index fell back to 107.16.EUR/USD rose 60 pips to 1.0302. The Eurozone's official consumer confidence index posted at -23.9 for November (vs -26.8 expected).USD/JPY dropped 96 pips to 141.18.GBP/USD gained 66 pips to 1.1889.AUD/USD increased 41 pips to 0.6646. This morning, the S&P Global Australia manufacturing purchasing managers index fell to 51.5 in November.NZD/USD rebounded 53 pips to 0.6153. Later today, New Zealand's central bank is expected to raise its key interest rate by 75 basis points to 4.25%.USD/CHF slid 65 pips to 0.9520.USD/CAD declined 77 pips to 1.3371. Canada's retail sales declined 0.5% on month in September (as expected).Bitcoin rebounded 3% to $16,100.           MORNING TRADING           In Asian trading hours, NZD/USD traded higher to 0.6178. New Zealand's central bank increased its key interest rate by a record 75 basis points to 4.25%, and signaled further tightening going forward.EUR/USD traded higher to 1.0317, GBP/USD was stable at 1.1884, and AUD/USD was little changed at 0.6644.USD/JPY edged higher to 141.32.Gold price was flat at $1,740 an ounce.Bitcoin advanced a further 1% to $16,450.           EXPECTED TODAY           November S&P Global manufacturing purchasing managers index will be announced for the Eurozone (45.7 expected), Germany (45.4 expected), France (46.8 expected), the U.K. (45.6 expected) and the U.S. (50.1 expected).In the U.S., durable goods orders are expected to grew 0.3% on month in October. The latest number of initial jobless claims is expected to rise to 228,000.The number of U.S. new home sales is expected to fall to an annualized rate of 580,000 units in October.U.S. crude-oil stockpiles are expected to decline 1.055 million barrels last week.           UK MARKET NEWS           United Utilities Group, a water and wastewater services company, reported first-half results: "Revenue was down 13 million pounds, at 919 million pounds, largely reflecting lower consumption more than offsetting the allowed regulatory revenue increase. (...) Operating profit at 259 million pounds was 74 million pounds lower than the first half of last year, (...) Reported basic earnings per share increased from (31.7) pence to 51.8 pence. (...) The Board has proposed an interim dividend of 15.17 pence per ordinary share in respect of the six months ended 30 September 2022. This is an increase of 4.6 per cent compared with the interim dividend relating to last year."Oil & Gas, basic resources and auto & parts shares fell most in London on Monday.From a relative strength vs FTSE 100 point of view, BP (+6.52% to 488p) crossed above its 50-day moving average.From a relative strength vs FTSE 100 point of view, Croda International (-1.07% to 6828p) crossed under its 50-day moving average.From a technical point of view, BAE Systems (+2.07% to 798.2p), BP (+6.52% to 488p) crossed above their 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   04:30 S&P Global/CIPS Manufacturing PMI Flash (Nov) 45.6 MEDIUM     04:30 S&P Global/CIPS UK Services PMI Flash (Nov) 47.6 MEDIUM     08:00 Building Permits Final (Oct) 1.526M MEDIUM     08:30 Durable Goods Orders MoM (Oct) 0.3% HIGH     08:30 Initial Jobless Claims (19/Nov) 228k MEDIUM     08:30 Durable Goods Orders Ex Transp MoM (Oct) 0.1% MEDIUM     09:45 S&P Global Manufacturing PMI Flash (Nov) 50.1 MEDIUM     09:45 S&P Global Services PMI Flash (Nov) 49.3 MEDIUM     09:45 S&P Global Composite PMI Flash (Nov) 49.5 MEDIUM     10:00 New Home Sales (Oct) 580k HIGH     10:00 Michigan Consumer Sentiment Final (Nov) 54.7 MEDIUM     10:30 EIA Gasoline Stocks Change (18/Nov) 383k MEDIUM     10:30 EIA Crude Oil Stocks Change (18/Nov) -1.055M MEDIUM     13:00 Baker Hughes Total Rig Count (25/Nov)   HIGH     14:00 BoE Pill Speech   MEDIUM     14:00 FOMC Minutes   HIGH

This week's investor insight will make you think twice about the current stock and bond rally as we head into the end of the year. We get a lot of questions about if the stock market has bottomed or if it is headed lower and how they can take advantage of the next Major market move. Over the next 6 to 12 months, I expect the market to have violent price swings that will either make or break your financial future. So let me show a handful of charts and show what I expect to unfold. Let's dive in. We're told that "quitters never win." But is it always wise to stick with something when it no longer serves us — or worse, continues to harm us? Many years ago, when Texas hold'em poker was big and online gambling was allowed in Canada, I used to run a poker league and build custom poker tables for people across the United States and Canada. I love poker, and I still play it to this very day, but the game does require skill, a proper mindset, and self-discipline. Without all three of these things, poker is pure gambling. It's the same when it comes to active trading or investing if you lack the skills, mindset, and self-discipline. Retired professional poker player Annie Duke, who is also a best-selling author, and decision strategist who advises seed-stage Startups, says that learning when to quit is a critical skill, especially for investors. Annie states, "Quitting is a good thing when applied at the right time." If you've been following me for any time, then you know I follow a detailed trading strategy with position and risk management rules. As a result, you won't find me taking random trades or trading based on emotions. Instead, you'll find me patiently waiting on the sidelines for a high-probability trade signal to reinvest my capital. I trade differently. I don't diversify. I don't buy-and-hope, and I don't have any positions at certain times. What I do is reinvest in assets that are rising in value. And when a particular asset stops moving higher, I give up on the position and exit it immediately. Because I use technical analysis to follow price action, we can quickly and easily determine if an asset is rising or falling. Therefore, I can step aside and let the asset fall and look for a new opportunity that is rising, or hold the falling position and ride it lower for who knows how long… Unfortunately, most traders and investors do not understand how to read the markets, or they don't have control of their money. They are at the mercy of what the market does or the skills of whoever controls their capital. Let me share some of my market insight and help guide you On October 21st, I stated that retirement accounts should bottom and rally into the end of the year. Bonds were hitting 11-year lows. In short, anyone holding 20+ year treasury bonds had just lost more than ten years of investment growth wiped out.  Bonds, the highly touted safe, low-risk asset, fell over 47% from the 2020 high. It caused similar losses to the average investor portfolio comparable to the 2008 financial crisis. It was the worst selloff ever for treasury bonds that I can see on my charting platform. The real kicker is that the selloff in both stocks and bonds could have been avoided with just a little education and management. Subscribers and I happened to ride the COVID bond rally higher by 19%, exited the position, and moved to cash the day bond prices topped. It was partly luck to exit at the peak, but we would have exited the following trading session if we didn’t lock in profits because we managed our positions and risk. As the price reversed direction, we jumped shipped to one of my favorite positions, which almost no one thinks about or uses – CASH. 2022 has been a painful year for investors, and people are telling me they are scared to look at their investment statements. It now looks like bonds and stocks have started a seasonal rally that could help lift your portfolio as we head into the end of the year, but once it ends, look out! Bonds and Stock Seasonality Price Movement Daily Chart of 60/40 Portfolio You should have seen your account rally 6% or more since Oct 21st, and I think it will continue higher once the market digests the recent move up. While this may excite you, be aware that after this rally, we could see another 20-47% decline in stocks and bonds in 2023. This year-end bounce is nothing more than an opportunity to get out of the antiquated Buy-and-Hope strategy that does not work during a volatile and weakening economic environment. The next few charts, which are big heavyweight stocks that drive the market higher and pull it lower, should help you see what I see.  AAPL Weekly Chart and Potential Breakdown Apple is a heavyweight stock. When it moves, it moves the stock market. Currently, AAPL shares are in what I call a STAGE 3 Distribution phase, and if support is broken, then look out below! TSLA Weekly Chart and Potential Breakdown Tesla shares are another heavyweight, and its weekly chart paints a bleak future for holders. META (Facebook) Weekly Chart Breakdown Leads The Way Down Facebook, or what is now called META, is a heavyweight stock that has already broken down from its STAGE 3 Distribution phase. As you can see, when these mega stocks break down and unwind, individual investors who have their money managed by so-called professionals who don’t know how to manage risk suffer the most. The drop in META shares has held the tech, social, and even the S&P 500, and Nasdaq from rallying freely to the upside in the past month. When/if AAPL, TSLA, and other heavyweights break down, expect panic on Wall Street. My general rule of thumb is if someone tells you to diversify into a bunch of different assets, stocks, commodities, bonds, crypto, etc… then they don’t know what they are doing. They are a buy-and-hold believer and willing to let their own money or that of their clients experience the severe price swings the market dishes out. – Billionaire investor warren Buffet says, “Diversification makes very little sense for those who know what they are doing.” – Multimillionaire investor Jim Rogers said, “Diversification is something that stockbrokers came up with to protect themselves, so they wouldn’t get sued for making bad investment choices for clients, and that you can go broke diversifying.” The Four Stages Of Asset Prices If you think the 2022 pullback has been distressing, you better buckle up because the bear market has not even technically started yet, from my standard. Instead, in early 2023 we should enter a STAGE 4 Decline. This is when people's financial future and retirement lifestyles are created or broken, depending on how it's managed. Don’t get me wrong, I’m not saying the market will fall in 2023. I’m letting you know it's very possible, and you best have a plan in place. On the other hand, if the markets have some miraculous recovery and start a new bull market, well, you better have a plan for that also. Either way, you need a plan, and if you are a technical trader who follows price and manages positions, it doesn't matter what the market does; we are set either way. S&P 500 Bear Market Expectations 2023 The S&P 500 chart shows the extreme low that we could possibly reach if the economy and stock market fully unwind. Bonds would sell off as well until the Fed decides to step in and starts lowering the rates to try and save investors, but there will be a delay, and bonds will likely fall sharply before we see that take effect. CONCLUDING THOUGHTS:In short, without going off too much on a rant, you can read the three lies we are told by financial professionals that really IRK me. Because of these lies, individual investors must work harder, work longer and experience painful financial outcomes. What you may not know is that what you went through in 2008, the 2020 crash, and this year's correction could have been completely avoided. If you followed a NO BS investing method that tracks price using technical analysis, is simple to follow, and is uber-conservative, then your account would be sitting at a new all-time high watermark as of this week. The financial industry tells us to do all the wrong things, and almost everyone falls for the BS; it's so frustrating to watch! LIE #1: Diversify, Diversify, Diversify LIE #2: Bonds Are A Safe Investment And Should Represent A Large Portion Of An Investors Portfolio LIE #3: Speak With An investment Broker Or Advisor Before Placing Any Trade To Be Sure It Is Suitable For Your Personal Circumstances.  It's total baloney because almost everyone gets the same generic advice, buy-and-hold stocks and bonds, don't give up on it, ride out the rollercoaster, and you will be fine, trust me… Who came up with that strategy? Sure, my 10-year-old son could buy some stocks and bonds once, let it ride for 20-30 years, and be ok. He has time and not that much money, but the big question is at what age does the stock and bond, buy-and-hope strategy become a harmful and risky investment strategy? 50-ish years of age is my thinking. Knowing bear markets can take 3-12 years to recover from, someone who is 50+, planning to retire soon, or is already retired, doesn't have 10+ years to keep working and saving to avoid withdrawing funds from their retirement account. Also, the fact that they have the most wealth ever in their lifetime, they should be concerned about holding through future bear markets.  Don't be fooled. Just because everyone else has been brainwashed to buy-and-hold, aka buy-and-hope, and suffers stock market selloffs does not mean you should…  It's like the average investor has Stockholm syndrome. They have all been beaten up by the markets over and over again. They think that's how it should be. And in some cases are paying someone to take their money, plop it into the market, and do nothing with it for 10 - 40 years. They pay a % of their life savings each year to someone who has no risk and does not need to do too much of anything, while the investor suffers massive multi-year drawdowns, experiences high levels of stress, and sometimes big losses. The typical investing experience most people endure is NOT how it should be. There is a better way, and I can show you. My passion is trading and investing, having been at it for over 25 years. My goal is to help as many investors as possible to preserve their capital during difficult times and also be able to grow their wealth by trading only the most liquid ETFs. My investing strategy signals allow individuals to only hold assets that are rising in value.

Americans celebrate Thanksgiving today, which may translate into less activity for investors overseas. However, before that happens, the market seems to be still alive with yesterday's "minutes" from the latest FOMC meeting. The minutes are a record of events and statements at the meeting of the Federal Open Market Committee, which makes decisions on interest rates in the United States. They show that the vast majority of Fed officials felt that a slowdown in the rate of increase in the federal funds rate would probably be appropriate soon, as this would allow the Committee to better assess progress toward achieving its goals of maximum employment and price stability. Policymakers also noted that with inflation showing no signs of abating and the economy's supply-demand imbalance persisting, the ultimate level of the federal funds rate that would be needed to achieve the Committee's goals is somewhat higher than they had previously expected. The Federal Reserve raised the target range for the federal funds rate by 75 basis points to 3.75%-4% at its November 2022 meeting, marking the sixth consecutive rate hike and the fourth consecutive 75bp increase. As a result, the cost of dollar funding has risen to its highest level since 2008, Tradingecnomics calculated. Slower hikes - how are the dollar exchange rate and indexes reacting? The dollar index fell below 106 points on Thursday morning, slipping for the third day in a row toward the lowest levels since mid-August. For the week as a whole, the dollar seems to have lost to all major world currencies. Meanwhile, the British pound was able to record the biggest strengthening, gaining more than 1.7 percent, followed by the New Zealand dollar, which saw a historic interest rate hike yesterday. In third place on a weekly basis is the Swiss franc, with a strengthening of about 1.5 percent. Thus, it seems that the dollar's rally after the US interest rate hike may have slowed or come to an end, and now the market could at least move to a larger correction in price and time after the USD's one-year appreciation. Source: Conotoxia MT5, USDIndex, Daily The chances of a slower pace of interest rate hikes may have appealed to investors on Wall Street, where the green has taken hold. Particular attention may be paid to the Dow Jones index, which is now just a few percent short of reaching new highs. Yesterday, the Dow closed more than 100 points higher, while the S&P 500 and Nasdaq rose 0.6% and 1%, respectively. For the month as a whole, Caterpillar posted the biggest gains in the 30-company index, rising more than 23 percent, while the shares of aircraft manufacturer Boeing achieved a similar result. Meanwhile, only three companies in the entire index recorded a decline. They were UnitedHealth Group, The Walt Disney Co and Salesforce.com Inc. In their case, the declines were in the range of -2.2 to -5.2%, according to data from the BBN service. Source: Conotoxia MT5, Caterpillar, Weekly Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.    

Looking at the company's recent Q3 results and its share valuation, it's hard not to get the impression that investors could choose it as a cure for worsening times. At a time when the main S&P 500 index (US500) has fallen by more than 16% since its January highs, the fast food giant's valuation has risen by 5%. We decided to see if the average American would switch to a BigMac in times of crisis? The company's financial position Overall year-to-date revenues, despite experiencing a 5% year-on-year decline in Q3, are up 9% year-on-year. According to CEO Chris Kempczinski: "As the macroeconomic landscape continues to evolve and uncertainties persist, we are operating from a position of competitive strength. I also want to thank our franchisees, who have done a tremendous job navigating this environment, while providing great value to our customers."  Source: Conotoxia MT5, McDonalds, Weekly Revenue volumes may have been positively impacted by price increases across the sector. The company seems to have done quite well in passing on costs to customers, as we saw in, for example, the price of a cheeseburger in California, which increased by 50%, from US$0.99 to US$1.48. This was the first price increase for this sandwich in 14 years.  Earnings per share fell by 6.29% year-on-year, which the company explained by rising costs in the Eurozone caused mainly by energy prices. However, we learned from the report that: "comparable sales in the US increased by more than 6% during Q3, marking the ninth consecutive quarter of comparable sales growth in the segment". Currently, the company's price-to-earnings P/E ratio is 34, which may indicate signs of overvaluation. However, if analysts' expectations for future earnings are taken into account, the P/E ratio is 26.2, and this could give potential for further share price increases. The company has also announced another dividend increase. Will Americans eat at McDonald's in times of crisis? According to an analysis by NUMBEO, a company that measures the cost of living in various places around the world, the price of lunch in low-cost restaurants fluctuates between US$10-30 (average US$16). The same spread for an average McMeal set at McDonald's, depending on the state, ranges from US$7 to US$12 (average US$8.5), indicating a meal at the popular fast food outlet is twice as cheap. The question may immediately arise, will Americans decide to cook at home? However, this seems unlikely due to the fact that, according to Statista, as many as 82% of the country's citizens live in cities, where eating out is much more popular. In addition, preparing a meal at home does not seem to be cheap enough to compete with eating at fast food outlets. Therefore, we could surmise that even if the income of the average American worsens, it would be difficult to give up eating out cheaply. Alternatively, the portions ordered may be smaller and thus cheaper, but this could be to everyone's advantage. After all, according to the 2017-2020 National Health and Nutrition Examination Survey, 41.9% of adults nationally (USA) are struggling with obesity. Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

Sunday marked the start of the World Cup in Qatar. It seems that it could not have taken place without controversy over the preparations for the event. After yesterday's Thanksgiving holiday in the United States, today we may see increased shopping traffic in celebration of Black Friday. A weakening dollar and falling bond yields may have driven the broad market this week.  Macroeconomic data On Wednesday, we learnt about the PMI reading on managerial sentiment in German industry. The reading of 46.7 points surpassed the expected 45 points and came as a positive surprise over the previous reading of 45.1 points. We could also see values for the same indicator from the UK, with a reading of 46.2 points (45.7 had been expected), against the previous reading of 46.2. From this we could see a warming of the market climate, which appears to have caused a 1% rise on the main German DAX index (DE40) since the start of the week.  Source: Conotoxia MT5, DE40, Weekly On the same day, we learned about the number of building permits issued in the United States. Here, the data turned out to be more modest than expected, amounting to 1.512 million (1.526 million was expected). There was also news from the US economy on crude oil inventories, which fell by 3.69 million barrels (a drop of 1 million barrels was expected).  On Thursday, Americans celebrated the Thanksgiving holiday. In Europe, on the other hand, data from the Ifo index measuring expectations for the next six months among German entrepreneurs may have come as a positive surprise. The index came in at 86.3 points, while 85 points were expected, which, like the PMI index, may have comforted markets in their expectations for the future. The stock market Analysts may have been positively surprised by Q3 earnings this week. Among others, we saw better-than-expected earnings per share from technology, software and laboratory equipment maker Agilent Technologies (Agilient), whose EPS came in at 1.53 (expected 1.38). Zoom Video (Zoom), a popular company during the pandemic, also surprised positively, with EPS of 1.07 (expected 0.83).  On Tuesday, US semiconductor company Analog Devices (AnalogDev) showed EPS of 2.73 (2.58 expected), and the maker of software for industries including architecture, engineering and construction showed earnings per share in line with EPS guidance of 1.7.  Of the 11 sectors of the US economy, consumer goods sales grew strongest. The Consumer Staples Select Sector SPDR Fund (XLP) index has gained more than 3% since the start of the week, which may have been influenced by Friday's Black Friday. Source: Conotoxia MT5, XLP, Weekly Currency and cryptocurrency market For another week in a row, we could see a weakening of the US dollar. The valuation of the EUR/USD pair has risen by 0.7% since the beginning of the week and currently stands at 1.04. The weakening of this largest reserve currency was also evident on the GBP/USD pair, which rose by 2% to around 1.21. The other currencies do not seem to show increased volatility. Source: Conotoxia MT5, EURUSD, Weekly There could still be a gloomy mood in the cryptocurrency market. Not even the reports that the largest exchange Binance has set up and contributed USD 1 billion to a fund to support crypto projects are helping. The price of bitcoin is hovering around US$16500 and ethereum around US$1190. Source: Conotoxia MT5, BTCUSD, Daily What could we expect next week? Next week's key macroeconomic data will start with Tuesday's German CPI inflation reading. On the same day, we will learn the previously discussed Chinese manufacturing PMI. On Wednesday, the Eurozone CPI inflation readings appear to be particularly important. On this day, we will also learn the quarterly change in GDP for the United States. On Thursday, we will learn the PMI values for Germany, the United Kingdom and the United States. At the end of the week, we will find out the unemployment rate in the USA. Tuesday will see Q3 financial results from business software developer Intuit (Intuit). Wednesday will bring a report from cloud software company Salesforce (Salesforce). We will end the week with a report from semiconductor company Marvell (MarvelTech). Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

There are no statistical releases scheduled for Friday. In this case, the session will be shortened and will end at 21:00 GMT+2. In this regard, trading activity is likely to be lower than usual on the holiday-thinned market. On Thursday, the exchanges did not work because of the public holiday, Thanksgiving Day. Meanwhile, a number of important indicators will be published in the near future, including revised data on US GDP for the third quarter as well as data on the labor market for November. In addition, the country begins the season of active shopping before the holidays. Dow Jones Industrial Average by 18:02 GMT+2 increased by 0.4% and reached 34,333.97 points. Among the components of the index, the top gainers were Home Depot Inc, up 1.8%, UnitedHealth Group up 1.4% and 3M Co. - by 1.2%. The value of the Standard & Poor's 500 by this time increased by 0.06% - up to 4029.69 points. At the same time, the Nasdaq Composite index fell by 0.39% since the market opened and amounted to 11,241.63 points. Stock quotes for retailers Walmart Inc. and Target Corp. decrease respectively by 0.2% and 0.8% at the beginning of trading. Amazon.com Inc. price fell 1.1% on reports that employees at the online retailer's warehouses around the world, including the US, Germany and France, are planning protests on Friday demanding higher wages. Shares of Ford Motor dropped 0.3% on news that the company is recalling more than 634,000 SUVs worldwide due to malfunctions. Tesla's value is 1.2% down. The company announced that it is recalling about 80,000 electric vehicles in China due to problems with software and seat belts. In addition, Apple Inc. papers are trading lower, having decreased - by 1.6%, Nike Inc. - by 0.6%, Intel Corp. - by 0.5%. At the same time, the share price of Chevron Corp. has grown by 0.3%. According to media reports, the United States is preparing to grant this company a license to produce oil in Venezuela. Chevron will regain partial control of oil production in Venezuelan fields, in which the company has retained stakes through joint ventures with state-owned Petroleos de Venezuela SA.     search   g_translate     Relevance up to 03:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/302664

USDJPY remains under pressure The Japanese yen fell after an uptick in October’s jobless rate. The rebound has met stiff selling pressure in the former demand zone around 142.40. A break below the recent low of 138.00 suggests that the path of least resistance remains down. As more buyers switch sides, increased volatility may drive the pair even lower. 135.90 is the next level to see if buyers would make their way back. Otherwise, the greenback could drift towards 132.00. The psychological level of 140.00 is the first hurdle in case of a bounce. Read next: Meta fined by Irish regulators amidst privacy concerns| FXMAG.COM AUDUSD seeks support The Australian dollar retreats after a lacklustre retail sales reading in October. The pair is looking to hold onto its gains above 0.6700 following a rally earlier this month. A bounce off 0.6580 next to the 20-day moving average indicates interest in safeguarding the aussie’s recovery. 0.6720 is a fresh resistance and a close above 0.6800 would open the door for an extension to September’s peak of 0.6910. On the downside, a dip below said support would put the bulls on the defensive with 0.6400 as a second line of defence. US 30 shows overextension The Dow Jones 30 slips as protests in China against Covid curbs raise concerns about growth. While a rally above August’s high of 34200 is an encouraging sign, the bulls would need to secure their foothold before pushing towards 34700. A bearish RSI divergence indicates a deceleration in the upward momentum and the index could use some breathing room. A slide below 34000 has led some buyers to take profit and 33650 is the next level to gauge their interest. Only a bounce above 34300 would resume the uptrend.

At the close of the New York Stock Exchange, the Dow Jones rose 0.01%, the S&P 500 fell 0.16%, and the NASDAQ Composite fell 0.59%. Dow Jones Dow Inc was the top gainer among the components of the Dow Jones index today, up 1.15 points or 2.32% to close at 50.65. Quotes of American Express Company rose by 3.55 points (2.35%), closing the session at 154.42. Boeing Co rose 3.49 points or 2.03% to close at 175.32. Shares of Apple Inc became the losers, the price of which fell by 3.05 points (2.11%), ending the session at 141.17. Salesforce Inc was up 1.31% or 2.01 points to close at 151.68, while Visa Inc Class A was down 1.04% or 2.20 points to close at 209. .06. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Under Armor Inc A, which rose 4.79% to hit 9.84, Celanese Corporation, which gained 4.75% to close at 105.56, and also shares of Ralph Lauren Corp Class A, which rose 4.36% to close the session at 112.66. The biggest losers were Illumina Inc, which shed 3.84% to close at 208.57. Shares of PayPal Holdings Inc lost 2.87% to end the session at 77.64. Enphase Energy Inc lost 2.83% to 303.39. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Otonomy Inc, which rose 113.82% to hit 0.23, Apollo Endosurgery Inc, which gained 67.83% to close at 10.07, and shares of OncoSec Medical Inc, which rose 50.98% to end the session at 3.85. The biggest losers were Digital Brands Group Inc, which shed 34.17% to close at 4.74. Shares of Eqonex Ltd lost 33.88% and ended the session at 0.09. Quotes of Secoo Holding Ltd decreased in price by 32.49% to 1.60. Numbers On the New York Stock Exchange, the number of securities that rose in price (1866) exceeded the number of those that closed in the red (1241), while quotes of 108 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,888 stocks fell, 1,862 rose, and 205 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 1.44% to 21.89. Gold Gold futures for December delivery added 0.47%, or 8.15, to $1.00 a troy ounce. In other commodities, WTI crude futures for January delivery rose 1.90%, or 1.47, to $78.71 a barrel. Brent crude futures for February delivery rose 0.95%, or 0.80, to $84.69 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.07% to 1.03, while USD/JPY fell 0.18% to hit 138.70. Futures on the USD index rose 0.11% to 106.75.     Relevance up to 03:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/303091

Over the last one and a half months, we have seen the DJI correction in a possible B or X wave to a high of 34,386 or just above the 61.8% corrective target at 33,785. This should be enough and we should see the DJI lose steam from here and start to push lower towards support at 31,727. A break below here will confirm that the DJI has peaked for now and a new strong push lower towards at least 22,613 is in the cards. That said, we might first see the real push lower at the beginning of 2023 as Christmas time always is beneficial for the equity markets.   Relevance up to 06:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303105

The internal structure of AMZN hints at the development of a corrective trend. It is assumed that a zigzag is formed, which consists of sub-waves a-b-c of the cycle degree. Perhaps at the end of last year, the market completed the formation of the first major wave a, it is a bullish 5-wave impulse. After the end of the impulse growth, the price began to decline, which may indicate the beginning of the construction of a bearish correction b. It may take the form of a zigzag â’¶-â’·-â’¸ of the primary degree. Most likely, in the near future we will see a continuation of the depreciation of stocks in the final intermediate wave (5) of the leading diagonal â’¶ to 77.07. At that level, wave (5) will be at 100% of previous impulse (3). After the end of the wave â’¶, we expect the growth of stocks in the primary correction â’·. Let's consider the second option, when the market has completed the formation of the primary wave â’¶, where, as in the first option, it has the form of a leading diagonal (1)-(2)-(3)-(4)-(5). In this case, in the last section of the chart, we see a price increase within the sideways correction â’·. It is assumed that the correction wave â’· will take the form of an intermediate double three (W)-(X)-(Y), where the actionary wave (W) is also a double zigzag W-X-Y of a lesser degree. Perhaps the second intervening wave (X) has also come to an end, so an upward movement in the final wave (Y) to a maximum of 146.85 is expected in the near future.

Equity markets are off to a positive start on Wednesday as we await a slew of big economic releases and a speech from Fed Chair Jerome Powell. It’s already been a very headline-driven week, particularly where oil is concerned, while Covid restrictions and protests in China have very much set the tone in Asia, and to a lesser extent elsewhere. The headwinds facing China are intensifying and the protests of recent days could make it even more challenging to navigate. That said, what we’ve heard so far has been promising and potentially indicative of a plan that was already in the works. But we shouldn’t kid ourselves. In the event that China commits 100% to its vaccine drive, especially among the elderly and vulnerable, the move away from zero Covid will take time as the virus spreads rapidly throughout the country necessitating swift action to control the spread. Even the best-case scenario is one of significant turbulence for the world’s second-largest economy next year. Chinese PMIs highlight the challenges ahead The PMIs highlight just how difficult the situation is in China, with the zero-Covid stance combined with the property market crackdown severely impacting domestic sentiment, while a slowing global economy weighs on external demand. With both the manufacturing and non-manufacturing PMIs falling deeper into contraction territory than anticipated, the country really has a mountain to climb in order to achieve decent, consistent growth once more. Some rare good news on inflation The euro is a little higher on the day against the dollar after CPI data for the currency bloc slowed to 10%, far below market expectations of around 10.4%. While still extraordinarily high, it does offer hope that inflation may have peaked and the deceleration could be faster than anticipated, in much the same way it was on the way up. The single currency was choppy in the aftermath of the release, while markets now view the possibility of a 50 or 75 basis points hike in December as a coin flip after previously heavily favouring the latter. That could be a positive for the euro if it means less of an economic slump, with the bloc already likely heading for recession. Rising for now Bitcoin is making steady gains in the session, up more than 2% and eyeing a second positive session. It did run into resistance around $1,700 again, the upper end of its range over the last couple of weeks. While we could see a bigger correction to the upside, especially if we’re treated to some dovish commentary from Powell, I’m not convinced it would be anything more than that. The industry has been shaken by the FTX collapse and as a result, bitcoin could remain vulnerable to further plunges in the price. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Cautiously optimistic - MarketPulseMarketPulse

At the close of the New York Stock Exchange, the Dow Jones rose 2.18% to a 6-month high, the S&P 500 rose 3.09% and the NASDAQ Composite index rose 4.41%. Dow Jones The leading gainers among the components of the Dow Jones index today were shares of Microsoft Corporation, which gained 14.81 points (6.16%) to close at 255.14. Salesforce Inc rose 8.57 points or 5.65% to close at 160.25. Apple Inc rose 4.86% or 6.86 points to close at 148.03. The least gainers were Walmart Inc, which shed 0.55 points or 0.36% to end the session at 152.42. 3M Company rose 0.13% or 0.16 points to close at 125.97, while Caterpillar Inc rose 0.55% or 1.29 points to close at 236.41. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Estee Lauder Companies Inc (NYSE:EL), which rose 9.70% to 235.79, Netflix Inc, which gained 8.75% to close at 305.53, as well as shares of Hewlett Packard Enterprise Co, which rose 8.57% to close the session at 16.79. The least gainers were NetApp Inc, which shed 5.82% to close at 67.61. Shares of Charles River Laboratories shed 4.56% to end the session at 228.57. Hormel Foods Corporation fell 2.47% to 47.00. NASDAQ The top performers on the NASDAQ Composite Index today were Biophytis, which rose 92.03% to hit 0.67, Corbus Pharmaceuticals Holding, which gained 60.08% to close at 0.19, and Biodesix Inc, which rose 47.06% to end the session at 2.00. The least gainers were Aeglea Bio Therapeutics Inc, which shed 65.98% to close at 0.41. Shares of CN Energy Group Inc lost 44.93% and ended the session at 0.82. Pacifico Acquisition Corp lost 42.81% to 5.41. Number On the New York Stock Exchange, the number of securities that rose in price (2686) exceeded the number of those that closed in the red (442), while quotes of 105 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,913 companies rose in price, 872 fell, and 199 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 5.98% to 20.58. Gold Gold futures for February delivery added 1.99% or 34.75 to hit $1.00 a troy ounce. In other commodities, WTI crude for January delivery rose 2.86%, or 2.24, to $80.44 a barrel. Futures for Brent crude for February delivery rose 2.93%, or 2.47, to $86.72 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.76% to hit 1.04, while USD/JPY fell 0.44% to hit 138.07. Futures on the USD index fell 0.75% to 105.96.     Relevance up to 03:00 2022-12-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/303272

Mullen stock lost 4.6% on Wednesday. TSLA shares gained 7.7% at the same time. The NASDAQ also rallied 4.4% on the strength of Powell's Fed pivot. MULN stock has 43% short interest at the moment. Mullen Automotive (MULN) stock finds itself falling behind once again. On Wednesday, electric vehicle leader Tesla (TSLA) exploded 7.7% on Federal Reserve Chair Jerome Powell's announcement that the central bank would be looking at smaller interest rate hikes going forward. This appeared to be the "pivot" the entire market had been waiting for, and stocks shot up relentlessly. The NASDAQ, on which MULN stock trades, closed up 4.4% on the session. MULN stock was dead in the water however. Shares of the upstart EV maker contrasted with Wednesday's market sharply, closing down 4.6% at $0.1921. Mullen Automotive stock news: Short volume growing heavy for MULN Mullen Automotive stock received little interest from traders on Wednesday as the rest of the market stole all the focus. Taking a look at the S&P 500 heat map below makes it clear that even some of the biggest names in the market took flight. Microsoft (MSFT) and Alphabet (GOOGL) both closed more than 6% ahead, and Nvidia (NVDA) even advanced 8.2%. With that much bullish volatility, there was no need to pay attention to a long-term penny stock play like Mullen. Only a few oil & gas companies closed lower on the day. S&P 500 Heat Map for Nov. 30, 2022 A big reason that MULN stock continued to descend was that shares recently dropped below the $0.21 support level that held up back during its recent swing low on October 18 and 19. This time Mullen Automotive stock has ignored the support level and continued moving lower one penny at a time. Of course, it must worry existing shareholders that short interest reached 43% on Wednesday. That is nearly twice as bad as other EV startups. Hyzon Motors (HYZN) and Arcimoto (FUV), for instance, have short interest of 22% and 27%. Another drag on the MULN share price is that Tesla keeps making all the headlines. Tesla's Texas Gigafactory has been producing 1,000 Model Ys per week since June, but unsubstantiated rumors are leaking that the EV leader will ramp up to 5,000 per week by 2023. Insiders have told the blogs that management is aiming for 75,000 Model Ys to be produced at the Texas plant in the first quarter of 2023. This means 25,000 a month and nearly 5,000 per week. Additionally, Tesla will deliver its first Tesla Semi, a fully battery electric semi tractor trailer, to Pepsi (PEP) at a Thursday event at its Nevada factory. The Tesla Semi is expected to greatly expand Tesla's profits in the coming years and is said to have a range between 300 and 500 miles. Also Tesla says it uses less than 2kWh to travel one mile, a rather efficient figure. This contrasts sharply with Mullen, who does not plan to deliver its Mullen Five crossover vehicle until the second quarter of 2024. With the recent addition of assets from Electric Last Mile Solutions (ELMS), Mullen is a long way away from completely retooling its new Indiana plant to prepare for production. Mullen finally closed its $105 million deal to buy the bankrupt ELMS assets on Thursday. The Indiana plant will be used to produce both the Mullen FIVE model and the Bollinger B1 and B2 models. “I have been working on this plan for many years, putting in place the strategic and critical enablers to be a dominant competitor in the EV market,” Mullen CEO David Michery said. “Successfully completing this asset acquisition moves Mullen into an all-new position with IP, plants and product platforms that no other competitor can offer to both retail and commercial customers. We have everything we need to launch the Mullen and Bollinger EVs product lineup.” Mullen Automotive stock forecast As previously stated, MULN stock crashed through the $0.21 support level on November 23 and has not looked back. It would seem that this is now the target for bulls. A move above would signal that a rally is likely starting up. Above that pivot sits nearby points of resistance at $0.2244 from the 9-day moving average and at $0.27 from the 21-day moving average. There is no historical support for MULN stock at the moment, which will be the main worry for bulls. It would be best to wait for a daily close above $0.21 before getting back in. The Moving Average Convergence Divergence (MACD) indicator is also slotted in a bearish pattern. MULN 1-day stock chart

US stocks were unable to hold onto earlier gains as Wall Street digested a swathe of economic data that showed inflation is easing and the labor market is cooling. ​ It’s been a nice rally but no one wants to be aggressively bullish heading into the NFP report. Yesterday’s Fed Chair Powell speech was good news for risky assets as he focused on inflation coming down and that the economy is doing well. ​ The risks of overtightening have many expecting the Fed to end its tightening cycle early next year and that will continue if the labor market softens quickly. ​ Earlier, investors were looking for any signs to buy stocks after reports that China was getting ready to release new Covid guidelines. China is far from willing to completely relax its guidelines, but these next steps could help end protests. ​ ​ ​ ​ US data The Fed’s preferred inflation gauge grew 5% from a year ago, confirming the recent trend of falling pricing data points. ​ The closely watched ISM report fell into contraction territory, reaching the lowest levels since the pandemic recovery began. The ISM’s prices paid also dropped to the lowest levels since May 2020. ​ October personal income and spending data were rather strong but no one expects that to continue going forward. ​ The initial jobless claims headline reading showed the labor market is still strong. ​ First-time claims fell by 16,000 to 225,000, which was lower than expected and well below the highs seen in the summer. ​ Continuing claims was interesting as it jumped to 1.61 million, which is getting closer to the pre-pandemic average of 1.7 million. ​ The trends are clear for inflation, but the big question mark is if the labor market is going to have a broader slowdown. ​ Tomorrow’s NFP report will be important as it could move forward bets that inflation will continue to decline. ​ FX The BOJ’s Tamura made quite a first impression to fx traders. ​ Tamura helped send the yen lower after he noted, “It would be appropriate to conduct a review at the right time, including the monetary policy framework and inflation target.” ​ Currency traders are used to Japan always having ultra-loose policy but that seems like it will have to change in the new year. ​ Cryptos Cryptos are struggling today as the earlier rally faded ahead of NFPs and as concerns brew that Tether loans could be the next big risk for the cryptoverse. ​ Stablecoins are an important part of the crypto world and if one of the major ones break, that will send bitcoin and ethereum to new lows. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stocks volatile ahead of NFP, US Data, BOJ Tamura’s first impression, Tether loan concerns - MarketPulseMarketPulse

Emini S&P December futures hit the 8 month trend line at 4090/95, the downward sloping 11 month trend line & upward sloping 2 month trend line at 4105/10. A high for the day here although not much of a sell off yet despite overbought conditions. It is make or break day for stock markets with the release of the US non farm payroll number. Nasdaq December consolidates after Wednesday's strong gains but unable to make a break above the November high. Emini Dow Jones futures turns lower but no important sell signal yet despite severely overbought conditions. Remember when support is broken it usually acts as resistance & vice-versa. Update daily by 06:00 GMT. Today's Analysis. Emini S&P December has rejected strong resistance at 4090/95 to 4105/10. Only a weekly close above here will convince me to turn bullish. We then target 4170/90. Shorts at 4090/4110 can target 4060/50, perhaps as far as first support at 4020/10. A break below 4000 can target 3970/50, perhaps as far as strong support at 3930/10. Nasdaq December bulls really need a clean break above the November high at 12118 for a buy signal targeting 12250 & 12400. If we turn lower on the US non farm payroll number look for 12000/11900 then 11750/700. Further losses can target 11550/500. Emini Dow Jones should meet support at 33900/800. A break below 33600 signals further losses towards support at 33300/200. Above 34700 can target 35000/35100.

Strong job creation and a big increase in wages underscore the Federal Reserve's argument that a lot more work needs to be done to get inflation under control. It has certainly jolted the market. But with recessionary fears lingering, market participants will remain sceptical over how long the strong performance can last US job growth was strong and wages rose in November 263,000 Number of US jobs added in November   Surging employment and wages show the economy remains strong The US economy added 263,000 jobs in November, well ahead of the 200,000 consensus estimate, even when accounting for a 23,000 downward revision to the past couple of months of data. Private payrolls rose 221,000, led by 88,000 jobs in leisure and hospitality and 82,000 in education and health. Construction was up 20,000 and manufacturing gained 14,000. However, there was weakness in trade & transport (-49,000) and retail trade (-30,000). There was more positive news for workers in the form of big wage gains of 0.6% month-on-month, double what was expected, which leaves the annual rate of wage growth at 5.1%. The unemployment rate remained at 3.7% despite the household survey showing an apparent drop of 138,000 people saying they were in work – the second consecutive decline. The unemployment rate held steady because the participation rate fell yet again as workers remain reluctant to return to the workforce. Read next: FX: Today’s US Payrolls With A Strong Bearish Rhetoric On The USD| FXMAG.COM Given the Fed’s repeated warnings that rates are likely to stay higher for longer to ensure inflation is defeated, officials will be hoping that today’s numbers will be the jolt needed to get market participants to finally believe the Fed’s intent. Payrolls growth is slowing, but not fast enough for the Fed (Jobs added per month '000s) Source: Macrobond, ING Jobs market remains far too hot for the Fed In his speech earlier this week, Fed Chair Jerome Powell discussed the prospect of declines in inflation relating to core goods and housing. His focus though was on another area, core services other than housing, where the situation is more troubling. This grouping accounts for more than half of the core PCE index, the Fed’s favoured measure of inflation. The tightness of the jobs market and the implication for wage pressures, which make up the largest cost in delivering these services, is therefore key to the outlook for interest rates. In the speech, he argued that “job growth remains far in excess of the pace needed to accommodate population growth over time—about 100,000 per month by many estimates.” Consequently, wage growth “shows only tentative signs of returning to balance”. Today’s 263,000 jobs number confirms we remain a long way off from demand balancing with supply, which would ease those labour market related inflation pressures. Adding to the Fed’s problems, monetary conditions have loosened in recent weeks as the dollar and longer-dated Treasury yields have fallen and credit spreads have narrowed. This is undoing the tightening effects of the Fed’s recent rate rises. Furthermore, the latest consumer spending numbers together with the anecdotal evidence of the Black Friday weekend sales show that the economy has not yet met the Fed’s requirements of slowing to a rate “well below its longer-run trend”. As such, the Fed has more work to do and we look for further 50bp rate hikes in December and in February, with the potential for tightening needing to go on for longer. Read this article on THINK TagsWages US Payrolls Jobs Federal Reserve Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

AMC Entertainment stock closed up 13% on Thursday. AMC stock trading was halted on Thursday due to unusual volatility. 46 million AMC shares had traded by shortly after noon. AMC stock is again advancing in Friday's premarket. AMC Entertainment (AMC) stock is up 3.4% in Friday's premarket just a day after authorities halted trading due to unusual volatility. Thursday saw options volume three times higher than the 20-day average, and AMC stock leapt as much as 27% before trading was halted shortly before 12:30pm. Trading then recommenced with AMC's share price closing up 13% at $8.17, its highest closing price since September 21. AMC Entertainment stock news: Call options bring all the boys to the yard AMC Entertainment stock got going early on Thursday and reached as high as a 27% gain before being halted. Authorities said about 46 million shares changed hands by that time compared to an average of 25 million. The AMC price action was led by option market activity. Retail traders and especially the much-maligned AMC Apes were furious with the trading halt. Read next: Porsche NFT Collection Will Hit The Market In January 2023 | FXMAG.COM Bloomberg reported that by 3pm, 550,000 call contracts representing 55 million shares had traded, while the 20-day average was 163,000. Activity was especially noted in the $8, $8.50 and $9 strike prices that are expiring this Friday. On Thursday these strikes saw more than 80,000, 63,000 and 71,000 call contracts trade by the close. The $10 strike also saw nearly 36,000 contracts trade as well. The $8 strike closed the session at $0.36 a share, and the $8.50 closed at $0.17 a share. BNK Invest noted heightened activity last Tuesday as well, writing, "Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in AMC Entertainment Holdings Inc. (Symbol: AMC), where a total volume of 136,950 contracts has been traded thus far today, a contract volume which is representative of approximately 13.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 51.6% of AMC's average daily trading volume over the past month, of 26.5 million shares." AMC Apes on Twitter have been badgering CEO Adam Aron about the APE equity unit price as it recently fell below $1. It closed Thursday up 1.1% at $0.9822, and is now trading up to $1.02 in Friday's premarket. Black Panther: Wakanda Forever dominated the US box office once again last weekend, but observers believe its numbers are falling too rapidly. Still the superhero film has grossed about $683 million worldwide and is already the seventh highest grossing movie of the year with more room to run. AMC stock forecast The Moving Average Convergence Divergence (MACD) indicator in regard to AMC stock's daily chart shows a moderate bullish pattern. Thursday's burst blew well above the November 14 and 15 pinnacle, and a cursory look at this chart makes one think there is more energy left for upside. Of course, traders will be closing out their call options in the afternoon, but other might be already buying up those for next week. $10.39 looms large for bulls since this is where they got stopped out in mid-September. Before AMC can reach that point, however, the R1 pivot sits at $8.70 and the R2 is at $10.18. The 21-day moving average at $6.87 is the current pivot, and $5.17 is the long-term support level from November 7 and 9. AMC 1-day chart

At the time of closing on the New York Stock Exchange, Dow Jones rose 0.10%, the S&P 500 index fell by 0.12%, the NASDAQ Composite index fell by 0.18%. Dow Jones The growth leaders among the components of the Dow Jones index were Boeing Co shares, which went up by 7.09 p. (4.03%), closing at the mark of 182.87. Nike Inc quotes increased by 1.43 p. (1.29%), completing tenders at 112.20. Dow Inc papers increased in price by 0.48 p. (0.94%), closing at 51.55. Salesforce Inc shares were the leaders of the fall, the price of which fell by 2.44 p. (1.66%), completing the session at the mark of 144.56. Intel Corporation shares rose 0.42 p. (1.41%), closing at 29.41, and Goldman Sachs Group Inc decreased in price by 3.23 p. (0.84%) and completed bidding at 380 , 58.  S&P 500  The leaders among the S&P 500 index components in today's trading were shares of Enphase Energy Inc, which gained 7.01% to 336.00, SolarEdge Technologies Inc, which gained 4.40% to close at 308.77, and shares of Huntington Ingalls Industries Inc, which gained 4.24% to close the session at 240.68. The least gainers were the PayPal Holdings Inc shares, which decreased in price by 4.93%, closing at 74.66. Valero Energy Corporation shares lost 3.76% and completed the session at 127.07. Arista Networks quotes decreased by 3.39% to 135.04. Nasdaq  Growth leaders among the components of the Nasdaq Composite index were Shuttle Pharmaceuticals Inc, which went up by 65.07% to 2.41, Yunhong CTI LTD, which gained 46.69%, closed at 0.56, as well as Anavex Life Sciences shares Corp, which increased by 35.85%, completing the session at a mark of 12.05. The leaders of the fall were shares of Theratechnologies Inc, which declined 36.02% to close at 1.35. Shares of Biovie Inc lost 31.80% and ended the session at 5.49. Redhill Biopharma Ltd. fell 27.21% to 0.27. Numbers On the NYSE, 1,672 gained more securities (1,409) than lost (1,409), while 119 stocks were essentially flat. On NASDAQ, 2,141 stocks gained, 1,547 declined, and 268 remained flat. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.93% on June 19, hitting a new 6-month low. Gold Futures for gold futures with delivery in February lost 0.19%, or 3.45, reaching $ 1.00 per troy ounce. As for other goods, the prices for WTI oil with supply in January decreased by 1.31%, or 1.06, to $ 80.16 per barrel. Futures for Brent oil futures with delivery in February fell 1.23%, or 1.07, to $ 85.81 per barrel. Forex Meanwhile, on the Forex market EUR/USD did not change significantly 0.17% to 1.05, while USD/JPY fell 0.74% to 134.27. The USD index futures were down 0.22% to 104.46 Relevance up to 03:00 2022-12-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/303619

US stocks fell on Friday, after the latest data showed that Americans got more jobs in November, and more importantly they got a better pay. Wages grew by 0.6% over the month, which was the biggest monthly gain, and the double of what was penciled on by analysts.   Of course, the news was great for the American workers, but much less so for the Federal Reserve (Fed), who is dreaming of a softer US labour market, and weak wages so that people could just STOP spending in hope that inflation would fall.   Read next: If ECB policymakers should make a decision between fighting inflation and avoiding recession, they will likely choose fighting inflation says Ipek Ozkardeskaya| FXMAG.COM But nope, it's just another month of strong US jobs data which certainly got Mr Powell to scratch his head.  Investors just... don't want to price Fed rate at 5%!  More, and better paid jobs fueled US inflation expectations, boosted the Fed hawks, and brought forward the idea that the Fed could be attracted by another, a fifth 75bp hike in the December meeting,   US equities fell and the dollar gained.  But then, the S&P500, which gapped lower at the open closed the session almost flat, and the US dollar index gave back all post-jobs gains to close the week where it was before data, and even came lower in Asia this morning.   Why?   Probably because investors priced in the fact that the Fed won't increase its rates by 75bp this month. It will probably increase them by more in the first half of next year. But that information doesn't go through for some reason, and the pricing for the Fed's terminal rate is still below 5%.   So be careful, even though the rally in equities looks like it could continue, and the weakness in the US dollar is what could mark the last weeks of a chaotic trading year, we will certainly see these forces reverse in the first weeks of January, if not before.  S&P500 at crossroads  The S&P500 closed what was normally supposed to be a week of losses with gains. The index added more than 1% last week, and closed the week right at the top of the year-to-date descending channel, and above its 200-DMA.   The RSI index doesn't point at overbought conditions, the MACD index is slightly positive, and the volatility index slipped below 19, low volatility being a sign of improving risk appetite, and potentially sustainable gains.   Is there a possibility for this rally to extend despite all the red flags? Yes! There is, though, with the risk of Jerome Powell sounding like at the Jackson Hole speech back in summer – which had destroyed the market mood in a couple of minutes.   The next big data is due next week, on Tuesday, a day before the FOMC decision. Until then, investors could give themselves the luxury to dream about a dovish future.   The freefalling dollar  Until then, we could see the US dollar lose more field against most majors, if we are lucky enough. The EURUSD for example gained more than 10% since the end of September, as Cable gained nearly 20% since the Liz Truss dip.   As such, the US dollar rebound seems a bit aggressive, especially knowing that the market has been refusing to price in a terminal rate for the Fed above 5%.  So, there is a risk that we don't see a one-sided dollar selloff when the Fed remains sufficiently hawkish – and when the market pricing will have to match the Fed talk at some point.   But the latest dollar selloff is a hint that the US dollar has certainly peaked this year, and next year will be, despite some Fed hawkishness, and some rebounds, a year of softening for the greenback and recovery for other currencies.   OPEC doesn't cut output  The weekend was rather eventless, as OPEC decided to maintain its daily output restriction unchanged at 2mio barrels per day at Sunday's meeting, which could be seen as a negative development for the bulls.   But there are two price-supportive developments that could limit losses below the $80pb.   First, Europeans finally agreed on the Russian oil price cap at $60pb, that Russia refused – hinting that the Russians could reduce their oil output in the coming months, which would than reduce the global supply and push prices higher.   Second, China is easing Covid measures. The Chinese reopening could counter the global recession odds and support oil prices.  In US crude, strong resistance is seen at $85pb, 50-DMA. 

Tesla is cutting production by 20% at its Shanghai factory. The move will mostly involve Model Y production. The production cut is due to a demand shortfall. TSLA stock drops 4.7% on Shanghai news.   Tesla (TSLA) stock gave up 4.7% in Monday's premarket after Bloomberg reported that its Shanghai factory would trim record production by 20% due to sluggish Chinese demand. Shares of the leading electric vehicle maker dropped to $185.75 on the news. At the same time most of the US futures market is down in the premarket. Futures for all three major indices, the Dow, S&P 500 and the NASDAQ, are off close to 0.5%. Tesla stock news: Model Y production clipped The news out of Shanghai caught investors off guard, because until now Tesla had been undergoing a global ramp up in production. These included plants in Berlin and Austin, Texas as well. The Shanghai production cut is said to be caused by a reduction in that market's demand. Due to frequent covid-related shutdowns across China this year, the economy there appears to have pulled back quite a bit. Demand has shrunk even while Tesla has been ramping up production there to an all-time high. In November Tesla reported deliveries just under 100,300 vehicles. Cutting back to 80,000 units a month is still quite a substantial figure, and Bloomberg sources said it would be easy to ramp back up once demand returns. Reports say the cut will primarily focus on Model Ys. Earlier news accounts said that Tesla had finally exceeded Chinese demand in November for both Model Ys and Model 3s. Waiting times between customer order and final delivery for both models are said to be way down compared with earlier in the year. Source: CnEVPost Tesla can of course export vehicles produced at the Shanghai plant, and it does do this. In fact, that is normally the course of action. Tesla Shanghai spends the start of each quarter producing vehicles for export and then spend the latter half producing for the domestic market. In October, for instance, 54,504 vehicles were exported, and just 17,200 vehicles were delivered there in China. Tesla should produce more than 1 million vehicles at the Shanghai factory in 2023. In other news the European Union's Trade & Technology Council has vocally implied that it may challenge parts of the US Inflation Reduction Act (IRA) at the World Trade Organization. Members of the EU regard certain features of the IRA as protectionist since only US-based companies can receive the many tax breaks for going green that the legislation allows. A primary target of EU member countries are the EV tax credits. In order for a consumer to be eligible for a $7,500 tax credit on a new EV, the vehicle must be assembled in North America. "There is a risk that the Inflation Reduction Act could lead to unfair competition, could close markets and fragment critical supply chains," said President of the European Commission Ursula von der Leyen. "We must take action to rebalance the playing field... to improve our state aid frameworks. In other words: We need to do our homework in Europe and at the same time work with the US to mitigate competitive disadvantages." Tesla stock forecast With the latest setback, TSLA stock is once again experiencing resistance at the $200 level. Last Thursday Tesla stock nearly cleared $199 before selling off and closing lower. In order to make a run at late October and early November's swing high at $234, bulls first need to reconquer the $200 level, which is suddenly seeming to be a difficult task. Nearby support at $180 and $167.50 should both offer some confidence in the mean time. The 9-day moving average also found a base of support recently at the $180 level before moving higher. The Moving Average Convergence Divergence (MACD) still shows that a rally is on, so it is quite possible that an unknown catalyst (Tesla Semi?) arrives in the headlines later this week and works to rally the troops for another try at $200. TSLA 1-day stock chart

Emini S&P December futures hit the 8 month trend line at 4090/95, the downward sloping 11 month trend line & upward sloping 2 month trend line at 4105/10, with a high for the day week here. Nasdaq December lower on the US non farm payroll number to my target of 11750/700 with a low for the day exactly here. Read next: Vodafone Shares Fell By 45%, Apple May Be Moving Production Outside Of China | FXMAG.COM Emini Dow Jones futures turns lower but no important sell signal yet despite severely overbought conditions. **Friday's dragonfly doji in all 3 markets warns of a potential price decline. A move lower on Monday's candle provides confirmation.** Today's Analysis. Emini S&P December has rejected strong resistance at 4090/95 to 4105/10 with a weekly close below here. Obviously a break above this week will convince me to turn bullish. We then target 4170/90. Shorts at 4090/4110 can retarget 4060/50 & first support at 4020/10. A low for the day exactly here on Friday with longs offered up to 65 points profit. A break below 4000 however is a sell signal targeting 3970/50 & strong support at 3930/10. Read next: The reduction of fears related to a possible frosty winter may support the euro exchange rate | FXMAG.COM Nasdaq December holding below 12000 re-targets 11750/700. Further losses can target 11550/500 & even 11250. Bulls really need a clean break above the November high at 12118 for a buy signal targeting 12250 & 12400. Emini Dow Jones should meet support at 33900/800 & in fact we had a low for the day just 35 ticks above here on Friday. A break below 33600 today signals further losses towards support at 33300/200. Above 34700 can target 35000/35100.

Stocks fell and the US dollar strengthened on Monday.   One of the reasons that could have triggered the move was a stronger-than-expected ISM services read in the US, which came in above expectations, and hinted that the economic activity, at least in the US services sector continues growing, and growing un-ideally faster-than-expected despite the Federal Reserve's (Fed) efforts to cool it down.   So, the economic data may have fueled the Fed hawks yesterday, although I just want to note that another data, which is PMI services remained comfortably in the contraction zone at around 46.   In the short run, the S&P500 may have seen a top near 4100 But the fact that the S&P500 was flirting with critical yearly resistance may have played a bigger role in yesterday's selloff.   The S&P500 shortly traded above the year-to-date bearish channel top last week without a solid reason to do so. The pricing in the markets barely reflects the scenario that the US rates will go above the 5% mark. Therefore, a downside correction was necessary to reflect the reality of the Fed game. Read next: Vodafone Shares Fell By 45%, Apple May Be Moving Production Outside Of China | FXMAG.COM Some people say that it's because the market sees the Fed's bluff. But at the end of the day, if Fed's bluff of tighter policy doesn't do the job, then the Fed will have to do the job itself.   In the short run, the S&P500 may have seen a top near 4100 and could opt for a further downside correction, with the first bearish target set at 3956, the minor 23.6% Fibonacci retracement on the latest rally, then to around 3870, the major 38.2% retracement level and which should distinguish between a short-term bearish reversal, and the continuation of the latest bear market rally.   It is possible we will see the EURUSD recover to 1.10 and Cable to 1.30 within the next 3 to 6 months Looking at the FX, the Aussie was slightly better bid after the Reserve Bank of Australia (RBA) raised its rates by another 25bp today, and took the rates to levels last seen a decade ago.   Elsewhere, the US dollar strengthened as a result of the hawkish Fed rectification. The dollar index first eased to a fresh low since June, then rebounded. It has way to recover above its 200-DMA, which hints that some majors, including EURUSD and Cable could return below their 200-DMA as well.   Yet, even if we see rebounds in the US dollar, the medium to long term direction of the dollar will likely be the south in the coming months.   Read next: The reduction of fears related to a possible frosty winter may support the euro exchange rate | FXMAG.COM The currency markets are not like the equity markets, or the cryptocurrency markets. The valuation of one currency cannot go to the moon, forever. Therefore, it is possible we will see the EURUSD recover to 1.10 and Cable to 1.30 within the next 3 to 6 months.   Even the Japanese yen, which has been the black sheep of the year, is expected to do much better in the coming months.   Analysts at Barclays and Nomura expect the yen to rally more than 7% next year - which is not a big deal if you think that the US dollar gained up to 30% against the yen since the beginning of this year.   Vontobel sees the yen's fair value below the 100 level against the US dollar, which, on the other hand, is a bit stretched as the dollar-yen hasn't seen that level since 2016, and it was a short visit. The last time the dollar-yen was really below 100 is before 2013.   What's more realistic is, we see the dollar-yen trend slowly lower. In the short-run, resistance at 140 should keep the pair within the bearish trend with the next downside target set at 130.

At the close in the New York Stock Exchange, the Dow Jones fell 1.03%, the S&P 500 fell 1.44%, and the NASDAQ Composite fell 2.00%.  Dow Jones  UnitedHealth Group Incorporated was the top performer among the Dow Jones index components in today's trading, up 4.28 points or 0.80% to close at 539.32. The Travelers Companies Inc rose 0.69% or 1.29 points to close at 188.50. Procter & Gamble Company rose 0.19 points or 0.13% to close at 149.28. The least gainers were Walt Disney Company shares, which lost 3.64 points or 3.79% to end the session at 92.29. Boeing Co was up 3.60% or 6.67 points to close at 178.43, while Chevron Corp was down 2.58% or 4.55 points to close at 172.01.  S&P 500  Among the S&P 500 index components gainers today were Textron Inc, which rose 5.25% to 73.57, Lumen Technologies Inc, which gained 3.85% to close at 5.40, and shares of Exelon Corporation, which rose 2.68% to end the session at 42.87. The least gainers were NRG Energy Inc, which shed 15.08% to close at 34.68. Shares of Enphase Energy Inc shed 7.77% to end the session at 309.73. Paramount Global Class B was down 6.97% to 18.15. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Summit Therapeutics PLC, which rose 194.27% to hit 2.31, Pacifico Acquisition Corp, which gained 59.01% to close at 8.03, and also shares of Eterna Therapeutics Inc, which rose 43.87% to end the session at 4.46. The least gainers were Gossamer Bio Inc, which shed 74.60% to close at 2.36. Shares of INVO Bioscience Inc lost 35.62% to end the session at 0.47. Quotes of MEI Pharma Inc decreased in price by 33.52% to 0.26. Numbers On the New York Stock Exchange, the number of securities that fell in price (2185) exceeded the number of those that closed in positive territory (891), while quotes of 121 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,618 companies fell in price, 1,099 rose, and 217 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 6.84% to 22.17. Gold Gold futures for February delivery added 0.15%, or 2.65, to $1.00 a troy ounce. In other commodities, WTI January futures fell 3.46%, or 2.66, to $74.27 a barrel. Brent oil futures for February delivery fell 3.86%, or 3.19, to $79.49 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.24% to 1.05, while USD/JPY was up 0.22% to hit 137.04. Futures on the USD index rose 0.28% to 105.53   Relevance up to 02:00 2022-12-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/303957

Equities extend the downside recovery, following the failure to clear an important year-to-date resistance last week, which was the S&P500's year-to-date descending channel top at around the 4080 level. The index cleared the first bearish target, at 3956 level, the minor 23.6% retracement on the latest rebound and tested its 100-DMA to the downside, but managed to close above that level. Nasdaq slumped 2%, with Apple retreating more than 2.50% while Amazon lost 3% as investors dumped technology stocks faster than the others.   And even oil giants joined the selloff this week. Exxon lost more than 2.50% both on Monday and on Tuesday, as the latest drop in oil prices didn't help improve the mood.   The American crude lost more than 7% since the weekly open. If Monday's fall was mostly driven by a global market selloff, yesterday's selloff was definitely due to the EIA revising its oil production forecast higher for next year, after having cut this prediction for the past five months.   Read next: Presumably, stronger-than-expected ISM affected stocks. Aussie gained from the RBA decision | FXMAG.COM So, now, the EIA expects the US to pump around 12.34 mio barrels per day in 2023, approaching the historical high production of 2019.   Yesterday's selloff sent the barrel of Brent crude below the $80 mark for the first time since the very beginning of this year, and pulled the barrel of American crude a couple of cents below the late November dip, at around $73.40. And even the API data – which showed a 6.4-mio-barrel drop in US oil inventories couldn't bring the oil bulls in. The more official EIA data is due today. Trend and momentum indicators hint that the recession fears could well push the barrel of oil toward the $70pb despite falling oil reserves in the US.     Russian oil price cap is a warning for OPEC  What's good about the falling oil prices is that the Russian oil cap becomes somehow meaningless as prices fall, though the Europeans said to revise the cap every two months. For now, there is not much to worry apart from a couple of vessels carrying Russian oil that are stuck near Turkey as Turks ask insurance apparently to let them sail away.   But here is the thing. The fact that the G7, the EU and Australia agreed to cap the price of Russian oil gave a strong message to the rest of the oil producers: they could do the same with OPEC.  So far, US President Joe Biden reassured OPEC that this is not a 'buyers' league' and that the decisions apply only to Russia. But we can't stop thinking that if OPEC goes severely against the US' will to stop messing around with oil prices, there is no reason we won't see a buyers' league emerge from the darkness.

I told you where the high for the recovery would be!! - get ready for the crash!! Emini S&P December futures shorts at strong resistance at 4090/4110 are working exactly as predicted. AT LAST!!! Nasdaq December shorts are working with the break below 11750/700 yesterday as predicted. Emini Dow Jones futures break support at 33850/800 for a sell signal. Today's Analysis. Read next: Nigeria Bans Cash Withdrawal Higher Than 225$ To Encourage CBDC Use | FXMAG.COM Emini S&P December collapsed from strong resistance at 4090/4110 hitting my target of 3970/50 & strong support at 3930/10. Guess where the low of the day was!? That is the exact high & low for the move so far as predicted days before it happened! The bounce from 3930/10 meets strong resistance at 3960/70. A high for the day is likely. Shorts need stops above 3690. Support at 3930/10 is not expected to hold for ever. A break lower on a second or third test is obviously a sell signal targeting 380/70 then 3820/10. Nasdaq December breaks 11750/700 as predicted to hit my next target of 11550/500, with a low for the day exactly here. However further losses are expected to 11250. Below 11200 look for 11000/10950. Outlook remains negative of course so gains are likely to be limited with first resistance at 11630/690. Shorts need stops above 11770. Emini Dow Jones breaks support at 33850/800 for a sell signal targeting 33600 & support at 33300/200. A low for the day is possible but longs are more risky in the bear trend. A break below 33000 is a sell signal targeting 32750/700. Gains are likely to be limited with resistance at 33800/900. Shorts need stops above 34000.

DAILY MARKET NEWSLETTER December 7, 2022                 Pre-Market Session News Sentiment Technical Views           EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)                 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.                     Price Movement Analyst Views Target Pivot   Dax (Eurex) 14,353.00 -124.00 (-0.86%) Read the analysis 14,270.00 14,478.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,536.00 7,591.00     S&P 500 (CME) 3,943.25 -60.00 (-1.50%) Read the analysis 3,922.00 3,960.00     Nasdaq 100 (CME) 11,561.25 -244.50 (-2.07%) Read the analysis 11,480.00 11,670.00     Dow Jones (CME) 33,624.00 -362.00 (-1.07%) Read the analysis 33,470.00 33,730.00     Crude Oil (WTI) 74.27 -2.66 (-3.46%) Read the analysis 73.40 75.20     Gold 1,771.23 +2.55 (+0.14%) Read the analysis 1,765.00 1,776.00                     MARKET WRAP           Market Wrap: Stocks, Bonds, CommoditiesOn Tuesday, U.S. stocks remained under pressure. The Dow Jones Industrial Average dropped 350 points (-1.03%) to 33,596, the S&P 500 fell 57 points (-1.44%) to 3,941, and the Nasdaq 100 was down 237 points (-2.01%) to 11,549.Media (-3.11%), energy (-2.65%), and semiconductors (-2.58%) sectors lost the most.Apple (AAPL) dropped 2.54% after Bloomberg reported that the tech giant plans to delay the launch of its electric vehicle to 2026.Meta Platforms (META) slid 6.79% on reports that European Union regulators do not allow the company to place personalized ads.NRG Energy (NRG) plunged 15.08% after the company agreed to buy Vivint Smart Home (VVNT) for 2.8 billion dollars.Goldman Sachs (GS) declined 2.32%. Reuters reported that the bank is considering buying crypto-currency companies.The U.S. 10-year Treasury yield retreated 4 basis points to 3.533%.European stocks also closed lower. The DAX 40 fell 0.72%, the CAC 40 dipped 0.14%, and the FTSE 100 was down 0.61%.U.S. WTI crude futures fell $2.70 (-3.51%) to $74.27 a barrel.Gold price added $2 to $1,771 an ounce.Market Wrap: ForexThe U.S. dollar regained further strength against other major currencies. The dollar index climbed to 105.58.EUR/USD fell 25 pips to 1.0466. Data showed that Germany’s factory orders grew 0.8% on month in October (vs +0.6% expected). November S&P Global construction purchasing managers index was posted at 43.6 for the Eurozone (vs 46.0 expected), at 41.5 for Germany (vs 45.1 expected), and at 40.7 for France (vs 49.9 expected).GBP/USD slid 61 pips to 1.2129.USD/JPY rose 31 pips to 137.06.AUD/USD declined 13 pips to 0.6685.USD/CHF dipped 5 pips to 0.9421, and USD/CAD increased 65 pips to 1.3653.Bitcoin kept struggling around the $17,000 level.Morning TradingIn Asian trading hours, Australia's data showed that third-quarter gross domestic product grew 0.6% on quarter (vs +0.8% expected) and 5.9% on year (vs +6.4% expected). China’s data showed that trade surplus declined to $69.84 billion (vs $81.00 billion expected) in November with exports slumping 8.7% on year (vs -3.5% expected).AUD/USD was stable at 0.6689, while USD/JPY traded higher at 137.20.EUR/USD dipped to 1.0461, and GBP/USD was flat at 1.2130.Gold price was little changed at $1,771 an ounce.Bitcoin managed to take back the level of $17,000.Expected Today  The U.K. Halifax house price index is expected to decline 0.1% on month but rise 7.1% on year in November.Germany’s industrial production is expected to decline 0.8% on month in October.Canada's central bank is expected to hike its key interest rate by 25 basis points to 4.00%.The U.S. Energy Department is expected to report a reduction of 3.88 million barrels in crude-oil stockpiles.           UK MARKET NEWS           Mitchells & Butlers Plc, a pub-&-restaurant operator, posted full-year results: "Total sales across the period were 2,208 million pounds reflecting a 1.3% decline on FY 2019, driven mainly by temporary covid-related sales reductions and closures in the first part of the year plus site disposals since FY 2019. Despite this, adjusted operating profit of 240 million pounds reflects a strong return to profitability. (...) On a statutory basis, profit before tax for the year was 8 million pounds (FY 2021 loss 42 million pounds)."Insurance, basic resources and utilities shares gained most in London on Monday.From a relative strength vs FTSE 100 point of view, Aviva (+0.18% to 444.2p), Barclays (+1.59% to 158.76p) crossed above their 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   02:00 Halifax House Price Index MoM (Nov) -0.1% MEDIUM     02:00 Halifax House Price Index YoY (Nov) 7.1% MEDIUM     08:30 Nonfarm Productivity QoQ Final (Q3) 0.3% MEDIUM     08:30 Unit Labour Costs QoQ Final (Q3) 3.5% MEDIUM     10:30 EIA Gasoline Stocks Change (Dec/02) 2.707M MEDIUM     10:30 EIA Crude Oil Stocks Change (Dec/02) -3.305M MEDIUM                                     NEWS SENTIMENT           Standard Chartered PLC STAN : LSE 591.80 GBp -4.15% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade                 Deutsche Bank AG DBK : XETRA 10.072 EUR -0.49% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade                 Siemens AG SIE : XETRA 133.76 EUR +1.94% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade                 Glencore PLC GLEN : LSE 556.10 GBp -1.31% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade         TECHNICAL VIEWS           EUR/USD Intraday: under pressure.   Pivot: 1.0485   Our preference: Short positions below 1.0485 with targets at 1.0445 & 1.0425 in extension.   Alternative scenario: Above 1.0485 look for further upside with 1.0515 & 1.0530 as targets.   Comment: The RSI is mixed to bearish.     Trade               Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: consolidation.   Pivot: 3971.00   Our preference: Short positions below 3971.00 with targets at 3921.00 & 3900.00 in extension.   Alternative scenario: Above 3971.00 look for further upside with 3984.00 & 3998.00 as targets.   Comment: As long as 3971.00 is resistance, look for choppy price action with a bearish bias.     Trade               Brent (ICE)‎ (G3)‎ Intraday: under pressure.   Pivot: 80.70   Our preference: Short positions below 80.70 with targets at 78.70 & 77.50 in extension.   Alternative scenario: Above 80.70 look for further upside with 82.40 & 83.65 as targets.   Comment: The RSI is bearish and calls for further downside.     Trade  

At the close of the day on the New York Stock Exchange, the Dow Jones did not rise in price, the S&P 500 index fell 0.19%, the NASDAQ Composite index fell 0.51%. Dow Jones The leading performer among the components of the Dow Jones index today was 3M Company, which gained 1.77 points (1.42%) to close at 126.35. Merck & Company Inc rose 1.16 points or 1.06% to close at 110.09. Amgen Inc rose 0.87% or 2.47 points to close at 285.76. The biggest losers were Salesforce Inc, which shed 2.79 points or 2.09% to end the session at 130.48. Apple Inc. shares rose 1.97 points (1.38%) to close at 140.94, while Boeing Co was down 1.93 points (1.08%) to close at 176.50.  S&P 500  Leading gainers among the S&P 500 index components in today's trading were State Street Corp, which rose 8.19% to hit 80.45, Campbell Soup Company, which gained 6.02% to close at 56.18, and also shares of Bank of New York Mellon, which rose 4.13% to close the session at 44.61. The biggest losers were M&T Bank Corp, which shed 7.72% to close at 147.97. Shares of Brown Forman lost 7.30% to end the session at 68.27. Expedia Inc (NASDAQ:EXPE) dropped 6.32% to 90.79. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Prometheus Biosciences Inc, which rose 165.67% to hit 95.80, Transcode Therapeutics Inc, which gained 133.44% to close at 0.98, and also shares of Vor Biopharma Inc, which rose 41.86% to end the session at 6.10. The biggest losers were Ensysce Biosciences Inc, which shed 53.36% to close at 1.04. Shares of Versus Systems Inc lost 46.98% and ended the session at 0.79. Bruush Oral Care Inc Unit fell 46.95% to 0.50. Numbers On the New York Stock Exchange, the number of securities that fell in price (1608) exceeded the number of those that closed in positive territory (1466), while quotes of 134 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,196 companies fell in price, 1,487 rose, and 198 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.30% to 22.68. Gold Gold futures for February delivery added 0.91%, or 16.30, to $1.00 a troy ounce. In other commodities, WTI futures for January delivery fell 2.40%, or 1.78, to $72.47 a barrel. Futures for Brent crude for February delivery fell 2.28%, or 1.81, to $77.54 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair was unchanged 0.38% to 1.05, while USD/JPY fell 0.38% to hit 136.52. Futures on the USD index fell 0.40% to 105.12.   Relevance up to 03:00 2022-12-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/304121

DAILY MARKET NEWSLETTER December 8, 2022             Pre-Market Session News Sentiment Technical Views       EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)             Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.             Price Movement Analyst Views Target Pivot   Dax (Eurex) 14,235.00 -42.00 (-0.29%) Read the analysis 14,210.00 14,357.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,481.00 7,526.00     S&P 500 (CME) 3,928.75 -8.00 (-0.20%) Read the analysis 3,915.00 3,960.00     Nasdaq 100 (CME) 11,475.50 -34.00 (-0.30%) Read the analysis 11,430.00 11,600.00     Dow Jones (CME) 33,584.00 -41.00 (-0.12%) Read the analysis 33,470.00 33,760.00     Crude Oil (WTI) 72.75 +0.74 (+1.03%) Read the analysis 71.20 73.50     Gold 1,781.83 -4.442 (-0.25%) Read the analysis 1,790.00 1,776.00             MARKET WRAP       Market Wrap: Stocks, Bonds, CommoditiesOn Wednesday, U.S. stocks still lacked upward momentum. The Dow Jones Industrial Average closed flat at 33,597, the S&P 500 declined 7 points (-0.19%) to 3,933, and the Nasdaq 100 was down 52 points (-0.45%) to 11,497.Consumer durables & apparel (+0.86%), pharmaceuticals & biotechnology (+0.85%), and health-care equipment & services (+0.84%) sectors gained the most, while automobiles (-2.67%), consumer services (-1.32%), and technology hardware & equipment (-1.2%) sectors were under pressure.Carvana (CVNA) plunged 42.92% after Bloomberg reported that the used-car platform is consulting lawyers and investment banks about options for managing its debt.Tesla (TSLA) fell 3.21%, TripAdvisor (TRIP) slid 6.41%, and Southwest Airlines (LUV) dropped 4.71%.On the other hand, Campbell Soup (CPB) rose 6.02%, as the company posted better-than-expected first-quarter earnings, and raised its annual outlook.Regarding U.S. economic data, third-quarter unit labor costs rose 2.4% on quarter (vs +3.5% expected), and nonfarm productivity gained 0.8% on quarter (vs +0.3% expected).The U.S. 10-year Treasury yield retreated 11.3 basis points to 3.419%.European stocks closed lower. The DAX 40 fell 0.57%, the CAC 40 dropped 0.41%, and the FTSE 100 was down 0.43%.U.S. WTI crude futures declined $1.80 to $72.46. The U.S. Energy Department reported a reduction of 5.19 million barrels in crude-oil stockpiles (vs -3.88 million barrels expected).Gold price jumped $14 to $1,786 an ounce.Market Wrap: ForexThe U.S. dollar weakened against other major currencies. The dollar index fell to 105.15.USD/CAD was little changed at 1.3655. The Bank of Canada raised its benchmark interest rate by 50 basis points (vs +25 basis points expected) to 4.25%, the highest level in almost 15 years. The central bank signaled that its tightening campaign was near an end.USD/JPY fell 45 pips to 136.55.EUR/USD rose 41 pips to 1.0508. Germany's data showed that industrial production edged down 0.1% on month in October (vs -0.8% expected).GBP/USD climbed 77 pips to 1.2210. In the U.K., the Halifax house price index dropped 2.3% on month in November (vs -0.1% expected).AUD/USD gained 36 pips to 0.6724. USD/CHF lost 11 pips to 0.9409.Bitcoin traded slightly lower to $16,800.Morning TradingIn Asian trading hours, USD/JPY advanced further to 136.85. Japan's data showed that third-quarter gross domestic product growth was confirmed at -0.8% annualized on quarter (vs -1.0% estimated).AUD/USD traded lower to 0.6715. Australia's data showed that trade surplus declined to 12.22 billion Australian dollars in October with exports falling 1.0% on month (vs +1.0% expected).EUR/USD was little changed at 1.0503, and GBP/USD retreated to 1.2188.Gold price dipped to $1,783 an ounce.Bitcoin held up well at $16,870.Expected TodayIn the U.S., the latest number of initial jobless claims is expected to rise to 240,000.       UK MARKET NEWS       UK: The Royal Institute of Chartered Surveyors house price balance fell to -25% in November (vs -10% expected).British American Tobacco, a cigarette maker, posted a trading update: "We are confident in delivering our 2022 guidance, demonstrating once again the strength and resilience of our business. (...) Our New Category business continues to drive strong volume, revenue and market share growth and has become a significant contributor to group performance. (...) We expect growing contribution across all New Categories, and all Regions in 2022. We are confident in delivering our targets of 5 billion pounds revenue, and profitability by 2025."DS Smith, a packaging services provider, reported interim results: "For the six month period, revenue grew to 4,299 million pounds, up 26% on a constant currency basis and 28% on a reported basis (...) Adjusted basic earnings grew by 49% on a constant currency basis to 20.9 pence per share, reflecting the growth in profitability. (...) we are announcing an interim dividend for this year of 6.0 pence per share, an increase of 25%."Technology, chemicals and financial services shares fell most in London on Tuesday.From a relative strength vs FTSE 100 point of view, Barclays (-0.83% to 157.44p) crossed under its 50-day moving average.From a technical point of view, BP (-2.24% to 464p) crossed under its 50-day moving average.       ECONOMIC CALENDAR       Time Event Forecast Importance   08:30 Initial Jobless Claims (Dec/03) 240k MEDIUM     08:30 Continuing Jobless Claims (Nov/26) 1.62M LOW     08:30 Jobless Claims 4-week Average (Dec/03) 231k LOW     10:30 EIA Natural Gas Stocks Change (Dec/02) -31Bcf LOW     11:30 8-Week Bill Auction   LOW     11:30 4-Week Bill Auction   LOW                     NEWS SENTIMENT       Standard Chartered PLC STAN : LSE 584.20 GBp -1.78% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade             Siemens AG SIE : XETRA 132.90 EUR -0.57% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade             Knorr-Bremse AG KBX : XETRA 52.24 EUR -5.26% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade             Glencore PLC GLEN : LSE 540.30 GBp -2.95% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade             Bayer AG BAYN : XETRA 52.80 EUR -4.05% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                 Trade     TECHNICAL VIEWS       EUR/USD Intraday: bullish bias above 1.0485.   Pivot: 1.0485   Our preference: Long positions above 1.0485 with targets at 1.0530 & 1.0550 in extension.   Alternative scenario: Below 1.0485 look for further downside with 1.0465 & 1.0440 as targets.   Comment: A support base at 1.0485 has formed and has allowed for a temporary stabilisation.     Trade           Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: key resistance at 3949.00.   Pivot: 3949.00   Our preference: Short positions below 3949.00 with targets at 3908.00 & 3896.00 in extension.   Alternative scenario: Above 3949.00 look for further upside with 3960.00 & 3969.00 as targets.   Comment: The RSI lacks downward momentum.     Trade           Brent (ICE)‎ (G3)‎ Intraday: key resistance at 78.80.   Pivot: 78.80   Our preference: Short positions below 78.80 with targets at 76.30 & 75.10 in extension.   Alternative scenario: Above 78.80 look for further upside with 80.30 & 81.30 as targets.   Comment: The RSI is bearish and calls for further downside.     Trade

OANDA Senior Market Analyst Craig Erlam discusses the recent performance of US stocks in light of another hot jobs report and ahead of the final Fed meeting of the year.     This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. US stocks dip ahead of the Fed - MarketPulseMarketPulse

At the close of the New York Stock Exchange, the Dow Jones rose 0.55%, the S&P 500 rose 0.75%, and the NASDAQ Composite rose 1.13%. Dow Jones The leading performer among the components of the Dow Jones index today was Nike Inc, which gained 3.03 points (2.80%) to close at 111.36. Quotes of Cisco Systems Inc rose by 0.81 points (1.68%), closing the auction at 48.99. Boeing Co rose 2.58 points or 1.46% to close at 179.08. The least gainers were Goldman Sachs Group Inc, which shed 1.84 points (0.51%) to end the session at 358.08. American Express Company was up 0.65 points (0.42%) to close at 154.12, while 3M Company was down 0.35 points (0.28%) to close at 126. 00. S&P 500 Leading gainers among the S&P 500 index components in today's trading were SVB Financial Group, which rose 6.89% to 222.64, NVIDIA Corporation, which gained 6.51% to close at 171.69, and shares of Ceridian HCM Holding Inc, which rose 5.05% to end the session at 65.83. The least gainers were Lincoln National Corporation, which shed 10.86% to close at 31.45. Shares of Avery Dennison Corp shed 6.54% to end the session at 179.22. Quotes of Aptiv PLC decreased in price by 4.47% to 93.42. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Pharvaris BV, which rose 356.57% to hit 11.46, Rent the Runway Inc, which gained 74.26% to close at 2.37, and also shares of Qutoutiao Inc, which rose 59.66% to end the session at 0.83. Eiger Biopharmaceuticals Inc was the biggest loser, shedding 69.53% to close at 1.17. Relmada Therapeutics Inc lost 47.84% to end the session at 2.17. Design Therapeutics Inc (NASDAQ:DSGN) was down 33.33% at 8.46. Numbers On the New York Stock Exchange, the number of securities that rose in price (1,727) exceeded the number of those that closed in the red (1,352), while quotes of 123 shares remained virtually unchanged. On the NASDAQ stock exchange, 2154 companies rose in price, 1554 fell, and 218 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 1.72% to 22.29. Gold Gold futures for February delivery added 0.18%, or 3.25, to $1.00 a troy ounce. In other commodities, WTI January futures fell 0.44%, or 0.32, to $71.69 a barrel. Futures for Brent crude for February delivery fell 1.13%, or 0.87, to $76.30 a barrel. Forex Meanwhile, on the Forex market, EUR/USD rose 0.50% to hit 1.06, while USD/JPY edged up 0.01% to hit 136.62. Futures on the USD index fell 0.28% to 104.76. Relevance up to 03:00 2022-12-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/304270

US stock indices have rallied impressively in October and November, but the start of December is still heavy. And now is the right time to figure out whether the previous two months were a bear market rally or the beginning of a new bull market. Right now, there is no answer to that question. It may not be until after the Fed meeting on December 14, as the markets need a strong signal to move from the current point. The stock market has been moving up in the last two months, initially due to a correction after oversold conditions and then on speculation that the Fed will slow the pace of policy tightening. We consider a further retreat in commodity prices to be another supportive factor that eases consumer and company spending burden. Nevertheless, the two-month rally in S&P500 has stalled near the 200-day moving average. The close of October above this curve triggered a sell-off momentum from the first days of December. It would have looked like technical profit-taking if not for the disturbing analogies, as the market reversed from this line in April and August. Read next: UK Santander Bank Fined USD 132 Million, Idris Elba in Cyberpunk 2077:Phantom Liberty| FXMAG.COM Another worrying signal is the performance of the VIX. It has reversed upwards twice since the beginning of the year from the 20 levels, almost coincidentally with the reversal of the S&P 500. By early December, this story repeats as the VIX have reversed to growth after briefly dipping below 20. During the 2000-2003 bear market, to which we often compare the current situation, it was prudent to remain bearish while the index was steadily below its 200-day average and the VIX fear index bounced back from 20. These correlations could still work now, although they give a buy signal with an impressive delay. It is also important to note that after the volatility of 2008, the buy signal from the VIX came a year late after the market bottomed in March 2009. This is understandable, as the Fed’s QE supported the market and suffered another three years of sharp corrections. Our days, market participants may postpone the decision about the future market regime until the Fed's official comments and press conference next Wednesday. Further assurances from the world's biggest central bank that the decline in inflation is sustainable and a slower rate hike is to be expected further, despite indications that the economy and labour market are still better than market expectations, will be required for continued gains in equities. However, when the market is determined, we may see a strong trend in one direction within a few weeks, so remember the importance of the current momentum. Looking at the market levels, an S&P500 rally above 4050 would open the way to 4300 within 4-6 weeks and to 4600 by the middle of next year. If the bears prevail, the S&P500 could make a new local low around 3600 before the end of January, and it will start making regular lows in the first quarter of next year.

As we are already approaching the end of the year, we see the Central Banks' latest interest rate decisions for the year. The continuation of the interest rate hike cycle seems to have given cause for pessimism in the markets. The S&P 500 Index (US500) has fallen by 1.9% since the start of the week. However, we could still see optimism in the Chinese markets following reports of a reduction in the zero-Covid policy restrictions. Macroeconomic data On Monday, we learned the results of the US and UK service sector PMIs. The reading for the US was 56.5 points (53.3 expected) and for the UK 48.8 points (48.8 expected). We seem to be able to see a stagnation among business expectations, as the values do not seem to have changed over the last three months. On the same day, we learned of the Central Bank of Australia's decision to raise interest rates to 3.1% (previously 2.85%), which was in line with analysts' consensus. On Tuesday, we learned about GDP growth in Australia, which came in at 0.6% q/q (0.7% q/q was expected). We also learned about the decision of the Central Bank of India, which decided to raise the benchmark rate as expected to 6.25% (previously 5.9%). Particularly important for the energy and commodity markets on the day was the report from the US Energy Information Administration (EIA), which gave its forecasts for future energy prices. It predicts that the price of WTI crude oil (XTIUSD) could stabilize next year and be in the range of US$92.36/b. Source: Conotoxia MT5, XTIUSD, Daily On Wednesday, we learnt of the Central Bank of Canada's decision, which, like its aforementioned predecessors, raised interest rates to 4.25% (previously 3.75%). Japan's quarterly GDP reading appears to have shown signs of a slowdown for the cherry blossom country. Japan's GDP fell by 0.2% q/q. (a decline of 0.3% q/q was expected) against a previous increase of 1.1%. On the same day, we learnt the weekly reading of crude oil inventories, which fell for the 4th week in a row. The current decline was larger than analysts' expectations at 5.2 million barrels (a decline of 3.3 million barrels was expected). It appears that this may have supported the fall in the price of the commodity.  On Thursday, we learnt the number of new claims for unemployment benefits in the United States, which came in line with expectations at 230,000 (previously 226,000 claims). The stock market This week did not seem positive for the stock market. The main US S&P 500 index has fallen by 1.9% since the start of the week. The most declining company on the index was US electricity and natural gas generation and distribution company NRG Energy (NRGEnergy), whose share price fell by more than 20%. The FAANG technology companies performed particularly poorly this week. Google (Alphabet) shares fell by 7.2%, Apple (Apple) fell by 3.8% and Amazon's valuation fell by 5.3%. Large declines were seen in the energy sector. The value of the Energy Select Sector SPDR Fund (XLE) fell by more than 7%. This appears to be due, among other things, to declines in oil prices. Source: Conotoxia MT5, NRGEnergy, Daily On Tuesday, we learned the third quarter results of, among others, car and truck parts and accessories company AutoZone (AutoZone). Earnings per share EPS surprised analysts positively at 27.45 (25.26 was expected). On Wednesday, liquor producer Brown-Forman Corporation (BrownForman), which has a broad portfolio of brands including Jack Daniel's, Woodford Reserve, Old Forester, Canadian Mist and Finlandia, reported quarterly results. Its EPS was worse than expected at 0.47 (0.55 was expected). On Thursday, we learnt the results of the company that designs and manufactures integrated circuits and other electronic components, Broadcom (Broadcom), which reported EPS of 10.45 (10.28 was expected). On the same day, the results of shop chain Costco (Costco) came in below expectations, showing earnings per share of 3.07 (3.12 expected). Currency and cryptocurrency market The foreign exchange market saw the following rate changes over the past week. We could see the biggest increases in the EUR/JPY (up 1.4%) and USD/CAD (1.1%), while the other popular pairs saw little or no change. We seem to be able to deduce from this a weakening of the Japanese yen after the falling GDP data and a weakening of the Canadian dollar after the interest rate decision. The currency market seems to have been fairly stable this week. Source: Conotoxia MT5, EURJPY, Daily The cryptocurrency market seems to be able to feel the thaw. The price of bitcoin (BTCUSD) has risen by 1.4% since the beginning of the week, and the price of ethereum (ETHUSD) has risen by more than 2%. The most rising cryptocurrency was Axie Infinity (AXSUSD), which has risen by 17.2% since the beginning of the week. It seems that the saying "buy when the blood pours" is starting to find confirmation in this market. However, we would have to wait a little longer to be able to say that definitively. Source: Conotoxia MT5, BTCUSD, Daily What can we expect next week? Next week's key macroeconomic data will start with Monday's UK quarterly GDP reading after the recent 0.2% quarter-on-quarter decline. On Tuesday, we will learn Germany's CPI inflation reading. Analysts are expecting no change. The previous reading was 10% y/y. On the same day, inflation in the United States (previously 7.7% y/y) will also be known. On Wednesday, the Fed's US interest rate decision seems particularly important, immediately followed by a conference call by chairman Jerome Powell. In addition, an inflation reading will be given on that day by the UK, for which analysts expect inflation to fall to 10.9% y/y. (previously 11.1% y/y). Wednesday seems particularly important for the currency market and borrowers. Interest rate decisions will be given by the central banks of Switzerland, the UK and the European Central Bank. The week will close with the Eurozone CPI inflation reading. In the stock market on Monday, we will learn the Q3 results of this year's company Oracle (Oracle), on which we wrote a commentary. On Wednesday, we will see the report of the company that builds and sells single-family homes and manages residential properties in the US Lennar (Lennar). On Thursday, we will see the results of the company selling software for artists and businesses Adobe (Adobe).   Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

At the close of the New York Stock Exchange, the Dow Jones was down 0.90%, the S&P 500 was down 0.74% and the NASDAQ Composite was down 0.70%. Dow Jones The leading performer among the components of the Dow Jones index today was Walt Disney Company, which gained 0.83 points (0.90%) to close at 93.38. Verizon Communications Inc rose 0.30 points or 0.81% to close at 37.40. Salesforce Inc rose 0.98 points or 0.75% to close at 131.11. The least gainers were Chevron Corp shares, which lost 5.54 points or 3.19% to end the session at 168.00. Amgen Inc was up 2.42% or 6.92 points to close at 278.65 while Walmart Inc was down 2.33% or 3.47 points to close at 145.31.  S&P 500  Leading gainers among the S&P 500 index components in today's trading were Paramount Global Class B, which rose 5.08% to hit 19.02, Tesla Inc, which gained 3.23% to close at 179.05, and also shares of Netflix Inc, which rose 3.14% to close the session at 320.01. The least gainers were were Schlumberger NV, which shed 5.91% to close at 46.97. Shares of Etsy Inc lost 5.74% to end the session at 126.78. Quotes of Halliburton Company decreased in price by 5.33% to 33.01. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were HTG Molecular Diagnostics Inc, which rose 117.57% to hit 0.54, ClearOne Inc, which gained 73.40% to close at 1.40, and also shares of China Jo-Jo Drugstores Inc, which rose 51.20% to end the session at 3.31. Shares of Grom Social Enterprises Inc were the biggest losers, losing 66.28% to close at 1.30. Shares of Autolus Therapeutics Ltd shed 38.13% to end the session at 1.85. Quotes Appreciate Holdings Inc fell in price by 33.43% to 2.73. Numbers On the New York Stock Exchange, the number of securities that fell in price (2143) exceeded the number of those that closed in positive territory (958), while quotes of 98 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,359 companies fell in price, 1,374 rose, and 226 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.42% to 22.83. Gold Gold futures for February delivery added 0.36%, or 6.50, to $1.00 a troy ounce. In other commodities, WTI January futures rose 0.10%, or 0.07, to $71.53 a barrel. Futures for Brent crude for February delivery rose 0.72%, or 0.55, to $76.70 a barrel. Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.25% to 1.05, while USD/JPY was up 0.02% to hit 136.68. Futures on the USD index rose 0.17% to 104.93.     Relevance up to 03:00 2022-12-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/304437

DAILY MARKET NEWSLETTER December 9, 2022                 Pre-Market Session News Sentiment Technical Views           EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)                 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.                     Price Movement Analyst Views Target Pivot   Dax (Eurex) 14,312.00 +36.00 (+0.25%) Read the analysis 14,375.00 14,259.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,514.00 7,474.00     S&P 500 (CME) 3,970.00 +4.25 (+0.11%) Read the analysis 3,986.00 3,945.00     Nasdaq 100 (CME) 11,668.25 +22.75 (+0.20%) Read the analysis 11,750.00 11,555.00     Dow Jones (CME) 33,818.00 +15.00 (+0.04%) Read the analysis 33,935.00 33,660.00     Crude Oil (WTI) 72.16 +0.70 (+0.98%) Read the analysis 71.20 73.20     Gold 1,794.66 +5.522 (+0.31%) Read the analysis 1,803.00 1,785.00                     MARKET WRAP           Market Wrap: Stocks, Bonds, CommoditiesOn Thursday, U.S. stocks halted their decline. The S&P 500 rose 29 points (+0.75%) to 3,963 breaking an eight-session losing streak. The Dow Jones Industrial Average jumped 183 points (+0.55%) to 33,781, and the Nasdaq 100 was up 140 points (+1.22%) to 11,637.U.S. data showed that the latest initial jobless claims rose to 230,000 (vs 240,000 expected).Semiconductors (+3.11%), consumer services (+1.70%), and consumer durables & apparel (+1.58%) sectors gained the most, while telecoms services (-1.19%), energy (-0.47%), and automobiles (-0.40%) sectors remained under pressure.Nvidia (NVDA) jumped 6.51%, NXP Semiconductor (NXPI) rose 4.59%, and Marvell Technology (MRVL) was up 3.19%.U.S.-listed Chinese tech stocks posted gains as China appears to move away from restrict Covid measures. Baidu (BIDU) rose 5.02%, Alibaba (BABA) climbed 6.61%, and JD.com (JD) was up 3.28%.The U.S. Federal Trade Commission (FTC) filed a complaint seeking to stop the purchase of video game maker Activision Blizzard (ATVI) by Microsoft (MSFT). Activision Blizzard (ATVI) slipped 1.54%, while Microsoft (MSFT) closed 1.24% higher.The U.S. 10-year Treasury yield rebounded 6.9 basis points to 3.486%.European stocks showed a lack of momentum. The DAC 40 was little changed, while the CAC 40 dipped 0.20%, and the FTSE 100 was down 0.23%.U.S. WTI crude futures settled flat at $71.65 a barrel.Gold price added $3 to $1,789 an ounce.Market Wrap: ForexThe U.S. dollar softened against other major currencies. The dollar index declined to 104.79.EUR/USD jumped 51 pips to 1.0557.USD/JPY was flat at 136.62.GBP/USD rose 35 pips to 1.2238.AUD/USD gained 47 pips to 0.6772.USD/CHF dropped 48 pips to 0.9360, and USD/CAD fell 70 pips to 1.3583.Bitcoin advanced over 2% to $17,200.Morning TradingIn Asian trading hours, USD/JPY fell to 135.82. The Bank of Japan reported that the M2 money stock grew 3.1% on year in November (vs +3.0% expected).China’s data showed that consumer prices increased 1.6% on year in November (vs +1.8% expected). USD/CNH declined to 6.9588, while AUD/USD rose to 0.6787.EUR/USD traded higher to 1.0578, and GBP/USD climbed to 1.2272.Gold price advanced further to $1,794 an ounce.Bitcoin held at levels above $17,200.Expected TodayIn the U.S., producer prices are expected to add 0.3% on month and 7.3% on year in November.The University of Michigan consumer sentiment index is expected to dip to 56.4 in December.           UK MARKET NEWS           Berkeley Group, a property development company, posted half-year profit before taxation of 285 million pounds (vs 291 million pounds a year earlier), adding: "Revenue of 1,200.7 million pounds in the period (2021: 1,220.7 million pounds) arose primarily from the sale of new homes in London and the South East. (...) Basic earnings per share have decreased marginally to 200.4 pence per share (2021: 201.7 pence per share), (...) 2,080 new homes (2021: 1,828) were sold across London and the South East at an average selling price of £560,000 (2021: £647,000) reflecting the mix of properties sold in the period."Associated British Foods, a packaged food company, issued a trading update: "We continue to expect the aggregate profit of our Food businesses to be ahead of our last financial year. (...) For the full year, we continue to expect significant growth in sales for the Group, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year."Anglo American, a global mining giant, posted an investors update: "Anglo American to continue its improvement and growth momentum: 2022 Production down by c.3%: Quellaveco copper ramp-up and strong diamond production, offset by ore grades in Chile and lower production from Kumba and PGMs (...) Unit costs up c.16% (...) 2023 Production expected to increase by 5% as Quellaveco ramps up (...) Unit costs expected to increase by c.3%: inflation expected to moderate; and the benefit of Quellaveco (...) 2024 Production expected to increase by 5% (...) 2025 Production expected to be in line with 2024."Oil & Gas, telecom and basic resources shares fell most in London on Wednesday.In the telecommunications sector, BT Group (-3.72% to 112.55p) reached a new 3-month relative low against the FTSE 100.From a relative strength vs FTSE 100 point of view, BAE Systems (+1% to 831.4p) crossed above its 50-day moving average.From a technical point of view, BAT (-3.09% to 3305p) crossed under its 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   08:30 PPI YoY (Nov) 7.3% HIGH     08:30 PPI MoM (Nov) 0.3% HIGH     08:30 Core PPI MoM (Nov) 0.1% MEDIUM     08:30 Core PPI YoY (Nov) 6.1% LOW     10:00 Michigan Consumer Sentiment Prel (Dec) 56.4 HIGH     10:00 Wholesale Inventories MoM (Oct) 0.8% MEDIUM     10:00 Michigan Inflation Expectations Prel (Dec) 4.8% LOW     10:00 Michigan Current Conditions Prel (Dec) 58 LOW     10:00 Michigan 5 Year Inflation Expectations Prel (Dec) 2.9% LOW     10:00 Michigan Consumer Expectations Prel (Dec) 55 LOW     12:00 Fed Quarterly Financial Accounts   MEDIUM     12:00 WASDE Report   LOW     13:00 Baker Hughes Total Rig Count (Dec/09)   HIGH     13:00 Baker Hughes Oil Rig Count (Dec/09)   LOW                                     NEWS SENTIMENT           Standard Chartered PLC STAN : LSE 591.40 GBp -0.20% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   BP PLC BP. : LSE 463.95 GBp -3.52% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Deutsche Bank AG DBK : XETRA 10.022 EUR -0.02% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   British American Tobacco PLC BATS : LSE 3,305.00 GBp -3.02% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   AstraZeneca PLC AZN : LSE 11,316.00 GBp +1.23% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                           TECHNICAL VIEWS           EUR/USD Intraday: the bias remains bullish.   Pivot: 1.0540   Our preference: Long positions above 1.0540 with targets at 1.0595 & 1.0625 in extension.   Alternative scenario: Below 1.0540 look for further downside with 1.0520 & 1.0490 as targets.   Comment: The RSI shows upside momentum.                     Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: limited upside.   Pivot: 3923.00   Our preference: Long positions above 3923.00 with targets at 3947.00 & 3961.00 in extension.   Alternative scenario: Below 3923.00 look for further downside with 3911.00 & 3900.00 as targets.   Comment: The RSI is bullish and calls for further advance.                     Brent (ICE)‎ (G3)‎ Intraday: key resistance at 77.80.   Pivot: 77.80   Our preference: Short positions below 77.80 with targets at 75.70 & 74.50 in extension.   Alternative scenario: Above 77.80 look for further upside with 79.10 & 80.40 as targets.   Comment: As long as the resistance at 77.80 is not surpassed, the risk of the break below 75.70 remains high.        

DAILY MARKET NEWSLETTER December 13, 2022                 Pre-Market Session News Sentiment Technical Views           EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)                 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.                     Price Movement Analyst Views Target Pivot   Dax (Eurex) 14,324.00 -45.00 (-0.31%) Read the analysis 14,397.00 14,199.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,499.00 7,431.00     S&P 500 (CME) 4,018.25 +50.00 (+1.26%) Read the analysis 4,045.00 3,982.00     Nasdaq 100 (CME) 11,809.50 +126.50 (+1.08%) Read the analysis 11,860.00 11,730.00     Dow Jones (CME) 34,218.00 +477.00 (+1.41%) Read the analysis 34,420.00 34,010.00     Crude Oil (WTI) 73.46 +2.44 (+3.44%) Read the analysis 75.40 72.80     Gold 1,781.22 -16.102 (-0.90%) Read the analysis 1,777.00 1,789.00                     MARKET WRAP           Market Wrap: Stocks, Bonds, CommoditiesOn Monday, major U.S. stock indexes rose over 1%. The Dow Jones Industrial Average advanced 528 points (+1.58%) to 34,005, the S&P 500 rose 56 points (+1.43%) to 3,990, and the Nasdaq 100 was up 143 points (+1.24%) to 11,706.The U.S. 10-year Treasury yield added 3.7 basis points to 3.615%.U.S. inflation data will be released on Tuesday, and the Federal Reserve will set interest rates on Wednesday.Transportation (+2.86%), energy (+2.49%), and software (+2.45%) sectors led the market higher.Microsoft (MSFT) rose 2.89% after announcing it will purchase a 4% stake in London Stock Exchange Group.Coupa Software (COUP) surged 26.67%. The cloud-based business software firm said it has agreed to be taken private by buyout firm Thoma Bravo in a deal that values the company at $8 billion.Amgen (AMGN) agreed to buy Horizon Pharma (HZNP) for $116.50 per share or $27.8 billion in total. Amgen's share price closed 0.67% higher, and Horizon Pharma jumped 15.49%.Rivian Automotive (RIVN) declined 6.16%. The company said it paused discussions with Mercedes-Benz on forming a strategic partnership over electric pickup trucks. European stocks closed lower. The DAX 40 fell 0.45%, the CAC 40 declined 0.41%, and the FTSE 100 was down 0.41%.Oil prices were supported by a prolonged outage of the Canada-to-U.S. Keystone crude-oil pipeline. U.S. WTI crude futures gained $2.40 (+3.38%) to $73.46 a barrel.Gold price slid $16 to $1,781 an ounce.Market Wrap: ForexThe U.S. dollar held up well against other major currencies. The dollar index climbed to 105.02.USD/JPY jumped 115 pips to 137.71.EUR/USD dipped 5 pips to 1.0535. GBP/USD rose 9 pips to 1.2268. U.K. gross domestic product grew 0.5% on month (vs +0.4% expected) and 1.5% on year (vs +1.6% expected) in October. Industrial production showed no growth in October, as expected,AUD/USD dropped 47 pips to 0.6748. This morning, the Westpac consumer confidence index rebounded 3.0% on month in December (vs -6.9% in November).USD/CHF added 23 pips to 0.9365, while USD/CAD was down 14 pips to 1.3631.Bitcoin regained the $17,000 level.Morning TradingIn Asian trading hours, USD/JPY held up well at 137.70, while AUD/USD remained under pressure at 0.6742.EUR/USD was little changed at 1.0533, while GBP/USD traded lower to 1.2256.Gold price was flat at $1,781 an ounce.Bitcoin kept trading at levels around $17,100.Expected TodayIn the U.K., the latest jobless rate is expected to edge up to 3.7%.In Germany, the ZEW economic sentiment index is expected to improve to -27 in December. And the November inflation rate is expected to be finalized at 10.0% on year.In the U.S., the inflation rate is expected to tick down to 7.6% on year in November.           UK MARKET NEWS           Royal Dutch Shell, an oil giant, announced the sale of its stake in two offshore production sharing contracts in Malaysia's Baram Delta to Petroleum Sarawak Exploration & Production Sdn Bhd for $475 million.InterContinental Hotels Group, a hotel operator, announced the appointment of Michael Glover as chief financial officer.Auto & Parts, insurance and travel & leisure shares gained most in London on Friday.From a relative strength vs FTSE 100 point of view, BAE Systems (+0.65% to 831p) crossed above its 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   02:00 Unemployment Rate (Oct) 3.7% HIGH     02:00 Claimant Count Change (Nov) 8k HIGH     02:00 Employment Change (Sep) -20k HIGH     02:00 Average Earnings incl. Bonus (3Mo/Yr) (Oct) 6.1% MEDIUM     02:00 Average Earnings excl. Bonus (3Mo/Yr) (Oct) 5.8% LOW     02:00 HMRC Payrolls Change (Nov) 45k LOW     05:00 10-Year Treasury Gilt Auction   LOW     05:30 Financial Stability Report   LOW     05:30 BoE FPC Meeting Minutes   LOW     06:00 NFIB Business Optimism Index (Nov) 89 LOW     08:30 Inflation Rate MoM (Nov) 0.5% HIGH     08:30 Core Inflation Rate MoM (Nov) 0.4% HIGH     08:30 Core Inflation Rate YoY (Nov) 6.2% HIGH     08:30 Inflation Rate YoY (Nov) 7.6% HIGH     08:30 CPI (Nov) 299 MEDIUM     08:55 Redbook YoY (Dec/10)   LOW     10:00 IBD/TIPP Economic Optimism (Dec) 41 MEDIUM     13:00 30-Year Bond Auction   LOW     16:30 API Crude Oil Stock Change (Dec/09)   MEDIUM                                     NEWS SENTIMENT           London Stock Exchange Group PLC LSEG : LSE 7,626.00 GBp -2.85% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Legal & General Group PLC LGEN : LSE 252.00 GBp -1.60% In the last 5 days         NEWS SENTIMENT (24H) Very Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   BHP Group PLC BHP : LSE 2,537.00 GBp -1.67% In the last 5 days         NEWS SENTIMENT (24H) Neutral       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Argo Group Ltd ARGO : LSE 11.00 GBp 0.00% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Bayerische Motoren Werke AG BMW : XETRA 84.43 EUR -0.89% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                           TECHNICAL VIEWS           EUR/USD Intraday: rebound.   Pivot: 1.0530   Our preference: Long positions above 1.0530 with targets at 1.0575 & 1.0590 in extension.   Alternative scenario: Below 1.0530 look for further downside with 1.0505 & 1.0490 as targets.   Comment: The RSI shows upside momentum.                     Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: intraday support around 3902.00.   Pivot: 3902.00   Our preference: Long positions above 3902.00 with targets at 3951.00 & 3970.00 in extension.   Alternative scenario: Below 3902.00 look for further downside with 3879.00 & 3864.00 as targets.   Comment: The RSI lacks downward momentum.                     Brent (ICE)‎ (G3)‎ Intraday: further upside.   Pivot: 77.60   Our preference: Long positions above 77.60 with targets at 80.00 & 80.80 in extension.   Alternative scenario: Below 77.60 look for further downside with 76.80 & 76.10 as targets.   Comment: The RSI is bullish and calls for further advance.        

European equities traded in the red at the start of the week, but equities in the US rebounded as investors are hanging on to hope of slower inflation and reasonably hawkish Federal Reserve (Fed) by their fingernails.    Today and tomorrow will tell whether they are right being optimistic or not.   The latest US CPI data will reveal whether inflation in the US eased, and by how much. It's highly likely that we will see a number below the 7.7% printed a month earlier. But a number below 7.7% won't be enough as analysts expected it to ease all the way down to 7.3%.   Last Friday, the PPI figure showed that the US factory gate prices eased in November, but not as much as penciled in – leading to some disappointment among investors. Today, a similar disappointment could erase yesterday's 1.43% rebound in the S&P500 and could easily send the index below its 100-DMA. Read next: Microsoft (MSFT) rose 2.89% after announcing it will purchase a 4% stake in London Stock Exchange Group| FXMAG.COM  But if, by any chance, we see a softer CPI figure, then the S&P500 could easily jump above its 200-DMA, and even above the ytd descending channel top.   But, but, but...  Today's US CPI data, unless there is a huge surprise, will probably not change the Fed's plan to hike the interest rates by 50bp this week. Activity on Fed funds futures gives 77% chance for a 50bp hike, and a slim chance of 23% for another 75bp hike.   What will probably change is where investors see the Fed's terminal rate, and for how long.   More importantly, it will give us an idea on how the market pricing for the Fed's terminal rate will clash with the dot plot projections that will come out tomorrow, and that will, in all cases, hammer any potentially optimistic market sentiment.   Therefore, even if we see a great CPI print and a nice market rally today, it may not extend past the Fed decision on Wednesday.   Energy up.  European stock investors are uncomfortable this week due to the icy cold weather, that will get the countries to tap into the natural gas, and other energy supplies.   The US nat gas prices jumped more than 30% since last week due to a powerful Pacific storm bringing cold and snow to the norther and central plains in the US.   In the UK, power prices hit another ATH yesterday. Read next: An incoming cold spell in the US has seen the cost of US gas surge 27% during the past three trading session while (...) Dutch TTF gas contracts remain below €150| FXMAG.COM   Happily, we haven't seen a significant rise in the European nat gas futures, which in contrary kicked off the week downbeat.   But crude oil rallied as much as 2.60% on Monday as Russia said that the EU's $60 cap on its oil could lead to supply cuts, as Goldman said that Chinese reopening could boost demand by 1mpd - which would mean a $15 recovery in crude's price - and as a key pipeline supplying the US closed following a spill discovered last week.   I think that the oil rebound due to these three factors could be short-lived and may offer interesting top selling opportunities for medium term bears looking for a further dip in oil prices to below $70pb. Because, the Russia is not harmed by $60pb currently, US supplies will be restored and  the Chinese reopening may not be smooth due to potential disruptions in economic activity, because people are sick.   Don't count on strong UK GDP  The British GDP grew more than expected last month and that was mostly due to the rebound in activity after Queen Elizabeth's death slowed activity earlier. But strikes across the country are so severe that they could wipe half a billion pounds off the hospitality industry's pre-Xmas earnings. PM Rishi Sunak thinks that military staff could help cover for striking workers.   Cable consolidates gains below 1.23 but is at the mercy of the US dollar. The Bank of England (BoE) is expected to hike by 50bp at this week's MPC meeting, but the hike will certainly be accompanied by dovish statement as the UK economy is not strong enough to withstand a Fed-like tightening in the middle of an energy, and cost-of-living crisis.

At the close of the New York Stock Exchange, the Dow Jones rose 0.30%, the S&P 500 index rose 0.73%, the NASDAQ Composite index rose 1.01%. Dow Jones Chevron Corp was the top performer among the components of the Dow Jones index today, up 3.78 points or 2.23% to close at 173.53. Salesforce Inc rose 2.51 points or 1.89% to close at 135.62. Merck & Company Inc rose 1.94 points or 1.78% to close at 110.91. The least gainers were Amgen Inc, which shed 4.52 points or 1.63% to end the session at 272.26. UnitedHealth Group Incorporated was up 1.40% or 7.64 points to close at 538.22, while McDonald's Corporation was down 0.85% or 2.34 points to close at 274. 28. S&P 500 Among the S&P 500 index components gainers in today's trading were Moderna Inc, which rose 19.63% to 197.54, Halliburton Company, which gained 7.87% to close at 37.00, and Match Group Inc, which rose 7.67% to end the session at 46.89. The least gainers were United Airlines Holdings Inc, which shed 6.94% to close at 41.17. Trimble Inc lost 6.38% to end the session at 55.03. Quotes of American Airlines Group decreased in price by 5.21% to 13.46. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were OpGen Inc, which rose 84.80% to hit 0.23, Vincerx Pharma Inc, which gained 60.93% to close at 1.08, and shares of Netcapital Inc, which rose by 58.27%, ending the session at around 2.20. Shares of Quotient Ltd became the leaders of the decline, which decreased in price by 50.01%, closing at 0.34. Shares of Argo Blockchain PLC ADR lost 37.21% and ended the session at 0.43. Quotes of Harpoon Therapeutics Inc decreased in price by 36.87% to 0.89. Numbers On the New York Stock Exchange, the number of securities that rose in price (2162) exceeded the number of those that closed in the red (934), while quotes of 113 stocks remained virtually unchanged. On the NASDAQ stock exchange, 2118 companies rose in price, 1630 fell, and 206 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 9.80% to 22.55. Gold Gold futures for February delivery added 1.65%, or 29.55, to hit $1.00 a troy ounce. In other commodities, WTI crude for January delivery rose 2.95%, or 2.16, to $75.33 a barrel. Futures for Brent crude for February delivery rose 3.33%, or 2.60, to $80.59 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.89% to hit 1.06, while USD/JPY shed 1.48% to hit 135.63. Futures on the USD index fell 1.09% to 103.62 Relevance up to 03:00 2022-12-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/304804

DAILY MARKET NEWSLETTER December 14, 2022                 Pre-Market Session News Sentiment Technical Views           EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)                 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.                     Price Movement Analyst Views Target Pivot   Dax (Eurex) 14,476.00 -11.00 (-0.08%) Read the analysis 14,530.00 14,310.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,517.00 7,462.00     S&P 500 (CME) 4,068.25 +13.00 (+0.32%) Read the analysis 4,088.00 4,025.00     Nasdaq 100 (CME) 12,001.00 +42.25 (+0.35%) Read the analysis 12,100.00 11,850.00     Dow Jones (CME) 34,492.00 +104.00 (+0.30%) Read the analysis 34,750.00 34,200.00     Crude Oil (WTI) 75.21 -0.18 (-0.24%) Read the analysis 76.40 74.00     Gold 1,809.93 -0.87 (-0.05%) Read the analysis 1,824.00 1,800.00                     MARKET WRAP           Market Wrap: Stocks, Bonds, CommoditiesOn Tuesday, U.S. stocks closed higher as market sentiment was lifted by softer-than-expected inflation data. The Dow Jones Industrial Average rose 103 points (+0.30%) to 34,108, the S&P 500 increased 29 points (+0.73%) to 4,019, and the Nasdaq 100 gained 127 points (+1.09%) to 11,834.In fact, stocks pared gains ahead of the Federal Reserve's interest-rate decision on Wednesday. The S&P 500 once jumped over 2.7% within the session.U.S. data showed that consumer prices grew only 7.1% on year in November, slower than +7.6% expected and +7.7% in October. Monthly inflation rate was only 0.1% (vs +0.3% expected, +0.4% in October)..The U.S. 10-year Treasury yield sank 10.8 basis points to 3.503%.Media (+2.15%), real estate (+2.04%), and semiconductors (+1.85%) sectors led the market higher.Meta Platforms (META) rose 4.74%, Amazon.com (AMZN) gained 2.14%, Alphabet (GOOGL) climbed 2.49%, Apple (AAPL) edged up 0.68%, while Tesla (TSLA) slid 4.09%.Moderna (MRNA) surged 19.63%, and Merck & Co (MRK) rose 1.78%. A treatment developed by both company proved to reduce melanoma deaths in a mid-stage trial.United Airlines (UAL) fell 6.94% after the company announced an order of 100 Boeing 787 jets.European stocks also closed higher. The DAX 40 rose 1.34%, the CAC 40 increased 1.42%, and the FTSE 100 was up 0.76%.U.S. WTI crude futures advanced $2.10 to $75.25 a barrel.Gold price jumped $28 to $1,810 an ounce.Market Wrap: ForexThe U.S. dollar dropped sharply against other major currencies as softer-than-expected inflation data led investors to anticipate slower interest-rate hikes by the Federal Reserve. The dollar index fell to 104.04.USD/JPY sank 206 pips (-1.50%) to 135.61.EUR/USD jumped 93 pips to 1.0630. In Germany, the ZEW economic sentiment index improved to -23.3 in December (vs -27.0 expected).GBP/USD increased 94 pips to 1.2363. In the U.K., the latest jobless rate edged up to 3.7% (as expected). The number of jobless claims increased 30,500 in November (vs +3,300 expected).AUD/USD climbed 109 pips to 0.6854.USD/CHF fell 72 pips to 0.9291, and USD/CAD slid 88 pips to 1.3548.Bitcoin gained over 3% to $17,700.Morning TradingIn Asian trading hours, the Bank of Japan reported that its Tankan large manufacturers index fell to 7 (vs 6 expected) in the fourth quarter, while the Tankan large non-manufacturers index rose to 19 (vs 16 expected). Also, core machine orders grew 5.4% on month in October (vs +2.4% expected).USD/JPY remained subdued at 135.52.EUR/USD dipped to 1.0623, GBP/USD traded lower to 1.2348, and AUD/USD fell to 0.6827.Gold price was stable at $1,810 an ounce.Bitcoin advanced further to $17,820.Expected TodayIn the U.K., the inflation rate is expected to tick down to 11.0% on year and 0.7% on month in November. The retail price index is expected to increase 0.6% on year in November.The Eurozone's industrial production is expected to decline 1.2% on month in October.In the U.S., the Federal Reserve is expected to raise its key interest rates by 50 basis points to 4.25-4.50%.The U.S. Energy Department is expected to report a reduction of 3.595 million barrels in the crude-oil stockpiles.           UK MARKET NEWS           U.K. data showed that the inflation rate slowed to 10.7% on year (vs +11.0% expected) and 0.4% on month (vs +0.7% expected) in November.Auto & Parts, retail and basic resources shares fell most in London on Monday.From a relative strength vs FTSE 100 point of view, BAE Systems (-1.2% to 821p), Compass Group (-0.18% to 1899p) crossed under their 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   02:00 Core Inflation Rate MoM (Nov) 0.6% HIGH     02:00 Inflation Rate MoM (Nov) 0.7% HIGH     02:00 Inflation Rate YoY (Nov) 11% HIGH     02:00 Core Inflation Rate YoY (Nov) 6.6% MEDIUM     07:00 MBA 30-Year Mortgage Rate (Dec/09)   MEDIUM     08:30 Export Prices MoM (Nov) -0.4% MEDIUM     08:30 Import Prices MoM (Nov) -0.4% MEDIUM     10:30 EIA Gasoline Stocks Change (Dec/09) 2.714M MEDIUM     10:30 EIA Crude Oil Stocks Change (Dec/09) -3.595M MEDIUM     14:00 Fed Interest Rate Decision 4.5% HIGH     14:00 FOMC Economic Projections   HIGH     14:00 Interest Rate Projection - Longer   MEDIUM     14:00 Interest Rate Projection - 3rd Yr   MEDIUM     14:00 Interest Rate Projection - 2nd Yr   MEDIUM     14:00 Interest Rate Projection - 1st Yr   MEDIUM     14:00 Interest Rate Projection - Current   MEDIUM     14:30 Fed Press Conference   HIGH                                     NEWS SENTIMENT           Legal & General Group PLC LGEN : LSE 258.20 GBp +1.89% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   HSBC Holdings PLC HSBA : LSE 500.10 GBp +1.27% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Barclays PLC BARC : LSE 161.78 GBp +2.76% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Deutsche Lufthansa AG LHA : XETRA 7.989 EUR +4.58% In the last 5 days         NEWS SENTIMENT (24H) Very Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Deutsche Bank AG DBK : XETRA 10.248 EUR +2.83% In the last 5 days         NEWS SENTIMENT (24H) Neutral       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Rio Tinto PLC RIO : LSE 5,747.00 GBp +2.33% In the last 5 days         NEWS SENTIMENT (24H) Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                           TECHNICAL VIEWS           EUR/USD Intraday: the bias remains bullish.   Pivot: 1.0600   Our preference: Long positions above 1.0600 with targets at 1.0655 & 1.0675 in extension.   Alternative scenario: Below 1.0600 look for further downside with 1.0580 & 1.0550 as targets.   Comment: The RSI shows upside momentum.                     Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: choppy.   Pivot: 3941.00   Our preference: Long positions above 3941.00 with targets at 3995.00 & 4017.00 in extension.   Alternative scenario: Below 3941.00 look for further downside with 3919.00 & 3903.00 as targets.   Comment: The RSI is mixed.                     Brent (ICE)‎ (G3)‎ Intraday: bullish bias above 79.25.   Pivot: 79.25   Our preference: Long positions above 79.25 with targets at 81.30 & 82.30 in extension.   Alternative scenario: Below 79.25 look for further downside with 78.50 & 77.40 as targets.   Comment: The next resistances are at 81.30 and then at 82.30.        

DAILY MARKET NEWSLETTER December 15, 2022                 Pre-Market Session News Sentiment Technical Views           EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)                 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.                     Price Movement Analyst Views Target Pivot   Dax (Eurex) 14,399.00 -65.00 (-0.45%) Read the analysis 14,350.00 14,505.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,461.00 7,509.00     S&P 500 (CME) 4,030.50 -0.25 (-0.01%) Read the analysis 4,070.00 3,997.00     Nasdaq 100 (CME) 11,854.50 -14.50 (-0.12%) Read the analysis 12,060.00 11,730.00     Dow Jones (CME) 34,258.00 +19.00 (+0.06%) Read the analysis 34,620.00 33,960.00     Crude Oil (WTI) 76.63 -0.65 (-0.84%) Read the analysis 77.80 75.70     Gold 1,795.33 -11.995 (-0.66%) Read the analysis 1,785.00 1,805.00                     MARKET WRAP           Market Wrap: Stocks, Bonds, CommoditiesOn Wednesday, U.S. stocks posted an intraday reversal to the downside after investors digested Federal Reserve Chair Jerome Powell's hawkish post-rate-hike comments. The Dow Jones Industrial Average closed 142 points lower (-0.42%) to 33,966, the S&P 500 fell 24 points (-0.61%) to 3,995, and the Nasdaq 100 slid 93 points (-0.79%) to 11,740.As widely expected, the Federal Reserve raised its key interest rates by 50 basis points to 4.25-4.50%. The Fed now projects the key rate to reach 5.10% by the end of 2023.And Jerome Powell pointed out the central bank will not cut interest rates until its inflation target of 2% is reached.The U.S. 10-year Treasury Yield dropped 2.9 basis points to 3.472%.Automobiles (-2.14%), diversified financials (-1.56%), and semiconductors (-1.49%) sectors lost the most.Tesla (TSLA) sank a further 2.58% after Goldman Sachs lowered its price target on the stock.Marriott International (MAR) fell 2.32% as the hotel operator was downgraded to "neutral" at Citi.On the other hand, Delta Air Lines (DAL) rose 2.79% as the airline gave a better-than-expected full-year guidance on adjusted earnings per share.Pfizer (PFE) gained 2.66% on reports that the drugmaker has been allowed to import and distribute antiviral drug Paxlovid in China.European stocks also closed lower. The DAX 40 fell 0.26%, the CAC 40 dropped 0.21%, and the FTSE 100 dipped 0.09%.U.S. WTI crude futures added $2.00 to $77.38 a barrel. The U.S. Energy Department reported an addition of 10.23 million barrels in crude-oil stockpiles, in contrast to a reduction of 3.59 million barrels expected.Gold price declined $3 to $1,807 an ounce.Market Wrap: ForexThe U.S. dollar softened against other major currencies. The dollar index declined to 103.62.EUR/USD rose 52 pips to 1.0685. Data showed that the Eurozone's industrial production declined 2.0% on month in October (vs -1.2% expected).GBP/USD gained 64 pips to 1.2430. In the U.K., the inflation rate slowed to 10.7% on year in November (vs +11.0% expected).USD/JPY dropped 16 pips to 135.43.AUD/USD added 9 pips to 0.6864. This morning, Australia's data showed that the jobless rate remained stable at 3.4% in November with employment rising by 64,000 (vs +25,000 expected).USD/CHF declined 44 pips to 0.9240, and USD/CAD was little changed at 1.3544.Bitcoin once broke above $18,000 before retreating to $17,800 after the 50-basis-point rate hike was confirmed.Morning TradingIn Asian trading hours, Japan's data showed that trade deficit narrowed to 2.03 trillion yen in November (vs 1.80 trillion yen expected) with exports increasing 20.0% on year (vs +24.0% expected).USD/JPY was stable at 135.53.Australia's data showed that the jobless rate remained stable at 3.4% in November with employment rising by 64,000 (vs +25,000 expected).AUD/USD declined to 0.6839.EUR/USD retreated to 1.0655, and GBP/USD traded lower to 1.2392.Gold price lost again the handle of $1,800 an ounce.Bitcoin declined further to $17,720.Expected TodayIn the U.K., the Bank of England is expected to raise its key interest rate by 50 basis points to 3.50%.The European Central Bank is expected to increase its key interest rates by 50 basis points to 2.0-2.5%.In the U.S., retail sales are expected to grow 0.2% on month in November. The latest number of initial jobless claims is expected at 235,000.The New York State manufacturing index is expected to fall to 1.0 in December, while the Philadelphia Fed manufacturing index is expected to improve to -7.0 in December.           UK MARKET NEWS           AstraZeneca, a global biopharmaceutical company, said the U.S. Food and Drug Administration (FDA) will extend the Prescription Drug User Fee Act (PDUFA) date by three months to provide further time for a full review of the supplementary new drug application (sNDA) for Lynparza (olaparib) in combination with abiraterone and prednisone or prednisolone for the treatment of metastatic castration-resistant prostate cancer (mCRPC).Auto & Parts, chemicals and insurance shares gained most in London on Tuesday.From a relative strength vs FTSE 100 point of view, BAE Systems (+1.61% to 834.2p), Compass Group (+1.37% to 1925p), Croda International (+0.29% to 7016p) crossed above their 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   07:00 BoE Interest Rate Decision 3.5% HIGH     07:00 MPC Meeting Minutes   MEDIUM     07:00 BoE MPC Vote Cut 0/9 MEDIUM     07:00 BoE MPC Vote Unchanged 0/9 MEDIUM     07:00 BoE MPC Vote Hike 9/9 MEDIUM     08:30 Retail Sales MoM (Nov) 0.2% HIGH     08:30 Initial Jobless Claims (Dec/10) 235k MEDIUM     08:30 NY Empire State Manufacturing Index (Dec) 1 MEDIUM     08:30 Retail Sales Ex Autos MoM (Nov) 0.5% MEDIUM     08:30 Philadelphia Fed Manufacturing Index (Dec) -7 MEDIUM     09:15 Industrial Production YoY (Nov) 2.7% MEDIUM     09:15 Industrial Production MoM (Nov) -0.2% MEDIUM     10:00 Business Inventories MoM (Oct) 0.3% MEDIUM     16:00 Net Long-term TIC Flows (Oct)   MEDIUM     19:01 GfK Consumer Confidence (Dec) -43 HIGH                                     NEWS SENTIMENT           HSBC Holdings PLC HSBA : LSE 497.70 GBp +0.48% In the last 5 days         NEWS SENTIMENT (24H) Neutral       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Uniper SE UN01 : XETRA 3.044 EUR -7.25% In the last 5 days         NEWS SENTIMENT (24H) Very Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   RWE AG RWE : XETRA 42.73 EUR +2.08% In the last 5 days         NEWS SENTIMENT (24H) Neutral       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Rio Tinto PLC RIO : LSE 5,622.00 GBp -2.73% In the last 5 days         NEWS SENTIMENT (24H) Very Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Deliveroo PLC ROO : LSE 86.90 GBp -4.06% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Barclays PLC BARC : LSE 160.26 GBp +2.21% In the last 5 days         NEWS SENTIMENT (24H) Very Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                           TECHNICAL VIEWS           EUR/USD Intraday: the upside prevails.   Pivot: 1.0635   Our preference: Long positions above 1.0635 with targets at 1.0700 & 1.0725 in extension.   Alternative scenario: Below 1.0635 look for further downside with 1.0610 & 1.0585 as targets.   Comment: The RSI lacks downward momentum.                     Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: under pressure.   Pivot: 3984.00   Our preference: Short positions below 3984.00 with targets at 3944.00 & 3921.00 in extension.   Alternative scenario: Above 3984.00 look for further upside with 3995.00 & 4017.00 as targets.   Comment: As long as the resistance at 3984.00 is not surpassed, the risk of the break below 3944.00 remains high.                     Brent (ICE)‎ (G3)‎ Intraday: bullish bias above 81.20.   Pivot: 81.20   Our preference: Long positions above 81.20 with targets at 83.60 & 85.20 in extension.   Alternative scenario: Below 81.20 look for further downside with 80.10 & 78.60 as targets.   Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.        

At closing bell on the New York Stock Exchange, the Dow Jones fell 2.25 percent to a one-month low, the S&P 500 index shed 2.49 percent and the NASDAQ Composite fell 3.23 percent. Dow Jones The leaders among Dow Jones index components in Thursday trading were shares of Verizon Communications Inc. which gained 0.32p (0.85%) to close at 37.77. Chevron Corp dropped 1.29p (0.75%) to close at 171.04. Walmart Inc shares shed 1.31p (0.89%) to close at 145.36. International Business Machines were the least gainers, with shares falling 7.50p (5.00%) to close the session at 142.36. Shares of Apple Inc soared 6.71p (4.69%) to 136.50, while Intel Corporation dropped 1.11p (3.93%) to 27.15. S&P 500 The gainers among S&P 500 index components in today's trading were Lennar Corporation shares, which gained 3.82% to 94.29, DR Horton Inc. which gained 3.49% to close at 90.45 and Align Technology Inc. which gained 3.15% to close the session at 201.97. Western Digital Corporation shares were the least gainers, dropping 10.10% to close at 32.21. Shares of Nucor Corp lost 9.35% and closed the session at 134.10. Warner Bros Discovery Inc. dropped 8.93 percent to 10.00. NASDAQ The top gainers among NASDAQ Composite index components in today's trading were Core Scientific Inc, which gained 72.00% to 0.43, Imv Inc, which gained 66.55% to close at 3.64, and Scopus Biopharma Inc, which gained 44.85% to close the session at 0.34. Third Harmonic Bio Inc shares were the least gainers, down 78.28% to close at 4.30. Shares of Axcella Health Inc lost 50.78% and closed the session at 0.44. Novavax Inc's stock declined 34.30% to 11.32. Numbers On NYSE, 2,473 shares declined more than the gain of 595, while 113 remained almost flat. On NASDAQ, 2,775 stocks declined, while 961 gained and 197 remained flat. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 7.99% to 22.83. Gold Gold futures for February delivery lost 1.75% or 31.80 to hit $1.00 a troy ounce. In other commodities, WTI crude for January delivery fell 1.37%, or 1.06, to $76.22 a barrel. Futures for Brent crude for February delivery fell 1.58%, or 1.31, to $81.39 a barrel. Forex Meanwhile, in the Forex market, EUR/USD fell 0.53% to hit 1.06, while USD/JPY edged up 1.74% to hit 137.82. Futures on the USD index rose 0.79% to 104.23. Relevance up to 03:00 2022-12-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/305167

Stocks are down substantially this year, even including indices which had a bit of a rally through the last month or so. There has been a split in trend, which is worthy of note. The DJIA moved higher, while the Nasdaq remained relatively steady. In Europe, indices don't concentrate in certain sectors like they do in the US, but a similar trend has emerged when considering certain types of firms. The Dow Jones consists mostly of lower valuation, so called "value stocks", which have been outperforming. Tech stocks have continued to underperform, even in periods of recovery. This is often attributed to their relatively high valuations, meaning that they are more speculative. The Fed's tightening contributes to reducing interest in higher valuation stocks, and now the Fed is expected to slow its rate hikes. This could be an indication of which sectors/stocks could benefit the most from a Santa Rally. What are the chances this time? In order to make an educated guess about whether we can expect a rally this year or not, we need to have a better understanding of why it happens. Which is a bit of a problem, because there isn't much agreement on the causes of the rally. Not only that, but there also isn’t even an agreement on when it happens. Some say it's in the week before Christmans, others say it's the week between Christmas and New Year, and still others say it's both. So far this month, stocks have been trending higher thanks to an expectation that the Fed won't keep hiking rates so much. Now that they have delivered, the expectation is that US stocks can continue to rise. Across the Atlantic, the situation is a little more complicated, as the UK is expected to fall further into recession. Even if the BOE slowed the pace of hiking, there might not be as much room for optimism. Meanwhile, the ECB threatened to keep raising rates. That is expected, however, since the shared central bank was one of the last to join the hiking movement, so would likely be one of the last to end its tightening cycle. Read next: In December, the Fed maintained a tougher rhetoric than the market consensus, playing on the bears' side| FXMAG.COM What can we expect? Santa rallies happen about 2 out of 3 years, on average gaining about 1.3% over the period from Christmas to the Jan 2 of the next year. It's positive, sure, but not a blow-out growth. Particularly not in the context of the market losing around 17% since the start of the year. Another difficulty is that the final two weeks of trading for the year see dwindling liquidity as major traders go on holiday. Usually, starting with the final meeting of the Fed, activity starts to drop off, reaching a minimum between Christmas and New Years. That means that volatility tends to increase, with more erratic moves in the markets as relatively small trades can cause bigger moves. Other factors In general, markets tend to average higher through December. But in the case of the US in particular, they tend to do even better in an election year. 2018 was a notable exception, as the Fed was tightening though that period. After stocks performed better in the run-up to the Fed, investors might have some time to digest the results. They could pay more attention to how the market is currently pricing in a terminal rate of 4.85%, but the average of forecasts from the Fed is 5.1%. That could lead to a revaluation of where the Fed could go in the first quarter of next year and let the Grinch into steak the Christmas cheer.

US stocks closed lower, Dow Jones down 0.85% The US stock market finished trading Friday lower on the back of negative dynamics from the sectors of utilities, consumer goods and oil and gas. Dow Jones At the close of the New York Stock Exchange, the Dow Jones fell 0.85% to a one-month low, the S&P 500 fell 1.11% and the NASDAQ Composite index fell 0.97%. Caterpillar Inc was the top performer among the components of the Dow Jones in today's trading, up 0.89% or 2.06 points to close at 232.72. Boeing Co rose 0.98 points (0.53%) to close at 184.70. Dow Inc rose 0.27 points or 0.55% to close at 49.80. The least gainers were American Express Company shares, which lost 3.92 points or 2.61% to end the session at 146.30. Nike Inc was up 2.36% or 2.56 points to close at 105.95 while McDonald's Corporation was down 2.06% or 5.61 points to close at 266.12.  S&P 500 Leading gainers among the S&P 500 index components in today's trading were Adobe Systems Incorporated, which rose 2.99% to 338.54, Meta Platforms Inc, which gained 2.82% to close at 119.43, and also shares of Universal Health Services Inc, which rose 2.49% to close the session at 135.83. The least gainers were shares of Ford Motor Company, which fell 6.98% to close at 12.12. Shares of Moderna Inc shed 6.74% to end the session at 193.29. Quotes of CarMax Inc decreased in price by 6.04% to 61.44. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Cosmos Holdings Inc, which rose 178.91% to hit 23.01, Nanthealth LLC, which gained 98.95% to close at 5.70, and shares of Trean Insurance Group Inc, which rose 91.51% to end the session at 5.97. Shares of Synaptogenix Inc became the least gainers, which decreased in price by 74.63%, closing at 1.20. Shares of Agrify Corp lost 69.87% and ended the session at 0.25. Quotes of Axcella Health Inc decreased in price by 63.08% to 0.16. Numbers On the New York Stock Exchange, the number of securities that fell in price (2161) exceeded the number of those that closed in positive territory (893), and quotes of 105 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,231 companies fell in price, 1,478 rose, and 188 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.92% to 22.62. Gold Gold futures for February delivery added 0.84%, or 15.05, to $1.00 a troy ounce. In other commodities, WTI futures for January delivery fell 2.34%, or 1.78, to $74.33 a barrel. Futures for Brent crude for February delivery fell 2.64%, or 2.14, to $79.07 a barrel. Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.37% to 1.06, while USD/JPY fell 0.78% to hit 136.68. Futures on the USD index rose by 0.23% to 104.44 Relevance up to 03:00 2022-12-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/305334

At the close on the New York Stock Exchange, the Dow Jones fell 0.49% to a one-month low, the S&P 500 fell 0.90%, and the NASDAQ Composite fell 1.49%.  Dow Jones The leading performer among the Dow Jones index components in today's trading was Walgreens Boots Alliance Inc, which gained 0.27 points (0.69%) to close at 39.32. Chevron Corp rose 1.16 points or 0.69% to close at 169.88. JPMorgan Chase & Co rose 0.77 points or 0.60% to close at 130.06. The least gainers were Walt Disney Company, which shed 4.30 points or 4.77% to end the session at 85.78. Nike Inc was up 2.74% or 2.90 points to close at 103.05, while Home Depot Inc was down 1.86% or 6.01 points to close at 317. 33.  S&P 500  Leading gainers among the S&P 500 index components in today's trading were NRG Energy Inc, which rose 1.58% to 31.54, Wells Fargo & Company, which gained 1.53% to close at 41.82. as well as Quest Diagnostics Incorporated, which rose 1.48% to end the session at 151.45. The least gainers were Warner Bros Discovery Inc, which shed 6.66% to close at 9.25. Shares of Under Armor Inc A shed 6.01% to end the session at 9.54. Quotes of CarMax Inc decreased in price by 5.45% to 58.09. NASDAQ The leading gainers among the components of the NASDAQ Composite in today's trading were Madrigal Pharmaceuticals Inc, which rose 268.07% to hit 234.83, Axcella Health Inc, which gained 165.27% to close at 0.43, and also shares of Soleno Therapeutics Inc, which rose 103.86% to end the session at 1.85. Shares of Cosmos Holdings Inc became the drop leaders, which fell in price by 67.01%, closing at 7.59. Shares of Pingtan Marine Enterprise Ltd shed 11.72% to end the session at 0.58. Quotes of Schmitt Industries Inc decreased in price by 44.88% to 0.46. Numbers On the New York Stock Exchange, the number of securities that fell in price (2222) exceeded the number of those that closed in positive territory (876), while quotes of 90 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,698 companies fell in price, 1,051 rose, and 177 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.93% to 22.41. Gold Gold futures for February delivery lost 0.21%, or 3.85, to hit $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 1.85%, or 1.38, to $75.84 a barrel. Futures for Brent crude for February delivery rose 1.45%, or 1.15, to $80.19 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.21% to 1.06, while USD/JPY rose 0.19% to hit 136.95. Futures on the USD index practically did not change 0.00% to 104.33 Relevance up to 03:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/305503

EURUSD consolidates gains The euro found support after ECB officials pledged to keep raising interest rates. The pair came under pressure near last June’s high of 1.0780. A RSI divergence shows a deceleration in the upward momentum and could be significant in this supply zone. After traders took some chips off the table, new buying interests will need to follow through to maintain the single currency’s edge. 1.0530 is a key level to make that happen or the price could tumble below 1.0440. A rally back above 1.0700 would keep the bulls in play. AUDUSD tests major support The Australian dollar slips as the RBA minutes hints at a possible pause in rate hikes. The pair has so far struggled to clear 0.6900 at the origin of the September sell-off. A combination of profit-taking and fresh selling has weighed on the aussie. A push under 0.6750 may have dampened the enthusiasm, putting the recent lows around 0.6670 at test. The bulls must lift offers in the newly formed supply zone around 0.6790 before they could regain control. Otherwise, a fall below said support could trigger a broader liquidation. US 30 seeks support The Dow Jones 30 falls as investors offload risk assets over the prospect of further rate hikes. Last week’s reversal has dented the short-term mood, forcing leverage positions to abandon 33400 and lifting volatility. The index is looking to secure a foothold at 32500 which is a 38.2% Fibonacci retracement of the rally from October. The 50% level and daily low at 31800 is critical in keeping the recovery intact in the medium-term. On the upside, 33500 then 34100 are two obstacles to clear before the uptrend could resume. Read next: The FCC Seeks More Than $200 Million From Four Cellphone Carriers| FXMAG.COM

At the close of the day on the New York Stock Exchange, the Dow Jones rose 1.60%, the S&P 500 rose 1.49%, the NASDAQ Composite index rose 1.54%. Dow Jones The leading performer among the components of the Dow Jones index today was Nike Inc, which gained 12.57 points or 12.18% to close at 115.78. Quotes Boeing Co rose by 7.71 points (4.09%), ending trading at 196.00. Caterpillar Inc rose 2.80% or 6.59 points to close at 241.73. The leaders of the fall were Walgreens Boots Alliance Inc, which shed 0.93 points or 2.35% to end the session at 38.60. The Walt Disney Company rose 0.10 points (0.11%) to close at 86.92, while McDonald's Corporation rose 0.91 points (0.34%) to close at 268. 16. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Nike Inc, which rose 12.18% to 115.78, APA Corporation, which gained 5.76% to close at 46.67, and Etsy Inc, which rose 5.69% to end the session at 134.33. The leaders of the fall were Host Hotels & Resorts Inc, which shed 6.09% to close at 15.88. Shares of Walgreens Boots Alliance Inc shed 2.35% to end the session at 38.60. Quotes Western Digital Corporation fell in price by 2.18% to 31.38. NASDAQ The top gainers among the components of the NASDAQ Composite in today's trading were Gorilla Technology Group Inc, which rose 69.79% to 4.74, SINTX Technologies Inc, which gained 57.16% to close at 11.74. as well as shares of Rekor Systems Inc, which rose 56.45% to close the session at 0.93. The leaders of the fall were Meiwu Technology Co Ltd, which shed 83.43% to close at 0.32. Shares of Core Scientific Inc lost 75.53% and ended the session at 0.05. Quotes Icecure Medical Ltd fell in price by 46.92% to 1.38. Numbers On the New York Stock Exchange, the number of securities that rose in price (2414) exceeded the number of those that closed in the red (679), while quotes of 99 shares remained virtually unchanged. On the NASDAQ stock exchange, 2469 companies rose in price, 1219 fell, and 186 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 6.56% to 20.07. Gold Gold futures for February delivery lost 0.04%, or 0.65, to hit $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 2.90%, or 2.21, to $78.44 a barrel. Futures for Brent crude for February delivery rose 2.91%, or 2.33, to $82.32 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.08% to 1.06, while USD/JPY was up 0.47% to hit 132.32. Futures on the USD index rose 0.24% to 103.85. Relevance up to 03:00 2022-12-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/305885

If we look at the 4-hour chart, the Dow Jones Industrial Average index seems to be corrected upwards to test the SBR (Support Become Resistance) level which also happens to be the Daily Breaker Block from #INDU, namely level 33415.9 where this level also happens to be in the Bearish Fair Value Gap area. even though the upward correction of the rally has been confirmed by the appearance of deviations between the #INDU price movement and the Stochastic Oscillator indicator, if the Resistance levels previously described are strong enough to withstand the upward correction rally and/or as long as it does not break above the 33756.6 level, then #INDU has the opportunity to fall back down to the level area 32612.4-32241.9 as the first target and the area level 31761.6-31240.1 as the second target. Relevance up to 05:00 2022-12-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/116177

At the close in the New York Stock Exchange, the Dow Jones fell 1.05%, the S&P 500 index fell 1.45%, the NASDAQ Composite index fell 2.18%. Dow Jones The leading gainer among the components of the Dow Jones index today was Verizon Communications Inc, which gained 0.53 points (1.40%) to close at 38.31. Nike Inc rose 0.93 points (0.80%) to close at 116.71. Procter & Gamble Company rose 0.35 points or 0.23% to close at 152.19. The least gainers were Boeing Co shares, which fell 7.75 points or 3.95% to end the session at 188.25. Intel Corporation was up 3.21% or 0.86 points to close at 25.97, while Microsoft Corporation was down 2.55% or 6.24 points to close at 238.19.  S&P 500 Leading gainers among the S&P 500 components today were FedEx Corporation, which rose 3.35% to 175.69, VF Corporation, which gained 2.95% to close at 26.21, and Warner Bros Discovery Inc, which rose 2.10% to end the session at 9.23. The least gainers were shares of Tesla Inc, which decreased in price by 8.88%, closing at 125.35. Shares of Lam Research Corp lost 8.65% and ended the session at 409.11. Quotes of Applied Materials Inc decreased in price by 7.84% to 97.60. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were IsoPlexis Corp, which rose 102.87% to hit 1.40, E-Home Household Service Holdings Ltd, which gained 91.76% to close at 1, 35, as well as Core Scientific Inc, which rose 72.94% to end the session at 0.09. The least gainers were Akso Health Group DRC shares, which were virtually unchanged at 0.00% to close at 0.39. Shares of Dragonfly Energy Holdings Corp lost 40.75% to end the session at 14.86. Quotes Pacifico Acquisition Corp fell in price by 35.06% to 1.13. Numbers On the New York Stock Exchange, the number of securities that fell in price (2,350) exceeded the number that closed on the plus side (735), while 101 stocks were virtually unchanged. On NASDAQ, 2,439 stocks were down, 1,256 were up, and 189 remained flat. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 9.47% to 21.97. Gold Gold futures for February delivery shed 1.41%, or 25.65, to hit $1.00 a troy ounce. In other commodities, WTI crude for February delivery fell 0.03%, or 0.02, to $78.27 a barrel. Brent oil futures for February delivery fell 0.56%, or 0.46, to $81.74 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.09% to 1.06, while USD/JPY fell 0.08% to hit 132.37. Futures on the USD index rose 0.25% to 104.11. Relevance up to 03:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/306064

At the close on the New York Stock Exchange, the Dow Jones rose 0.11%, the S&P 500 index fell 0.41% and the NASDAQ Composite fell 1.38%.  Dow Jones The gainers among Dow Jones index components in today's trading were shares of Verizon Communications Inc. which gained 0.84p (2.19%) to close at 39.25. Caterpillar Inc. gained 3.27p (1.36%) to close at 243.14. Chevron Corp. gained 2.23 pct (1.26%) to close at 179.63. Shares of the Walt Disney Company were the least gainers, with their price dropping 1.64p (1.86%), ending the session at 86.37. Shares of Apple Inc soared 1.83p (1.39%) to close at 130.03, Goldman Sachs Group Inc dropped 3.54p (1.02%) and closed the session at 341.97.  S&P 500 index The top gainers among the S&P 500 index components in today's trading were shares of Wynn Resorts Limited, which gained 4.47% to 84.33, VF Corporation, which gained 4.18% to close at 27.16, and Las Vegas Sands Corp, which gained 4.17% to close the session at 48.46. Shares of Tesla Inc were the least gainers, down 11.41% to close at 109.10. Moderna Inc shares lost 9.50% and closed the session at 180.17. NVIDIA Corporation shares were down 7.14% to 141.21. NASDAQ  The top gainers among NASDAQ Composite index components in today's trading were shares of Elys Game Technology Corp, which gained 111.91% to 0.37, Lightjump Acquisition Corp, which gained 100.00% to close at 19.00, and shares of Quotient Ltd, which gained 94.74% to close the session at 0.37. The least gainers were shares of Tuesday Morning Corp, which fell 46.12% to close at 0.83. Shares of Mingzhu Logistics Holdings Ltd lost 44.57% and closed the session at 0.97. Lion Group Holding Ltd. was down 36.45 percent to 0.68. Numbers On NYSE the number of securities, which fell in price (1697) exceeded the number of securities, which closed on the plus side (1401). On NASDAQ, 2,517 stocks were down, 1,251 were up, and 139 remained flat. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.74% to 21.65. Gold Gold futures for February delivery added 0.98%, or 17.65, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 0.16%, or 0.13, to $79.69 a barrel. Futures for Brent crude for March delivery rose 0.43%, or 0.36, to $84.86 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.05% to 1.06, while USD/JPY was up 0.49% to hit 133.51. Futures on the USD index fell 0.12% to 103.89. Relevance up to 03:00 2022-12-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/306511

EURUSD consolidates gains The euro keeps the high ground thanks to the ECB’s hawkish approach. The euro has retained its upward trajectory, and the RSI returning to the neutral area on the daily chart has taken some heat off the rally. The current consolidation may allow the bulls to accumulate above the 20-day moving average. The recent high of 1.0700 is the first resistance and its breach would lift the pair to last May’s high of 1.0780 which is a major obstacle in the medium-term. 1.0570 is an important support to keep intraday buyers interested. USDJPY recoups losses The US dollar regained some lost ground on the back of rising Treasury yields. The price action is seeking to hold above August’s low of 130.80 as a bearish breakout could pave the way for sustained weakness in the new year. The bounce could be driven by sellers’ profit-taking in this critical demand zone. 135.00 at the confluence of a support-turned-resistance and the 20-day moving average might make it a tough level to crack. Its breach, however, would turn the tide in the bulls’ favour. 132.70 is the closest support. Read next: Dallas Mavericks' (NBA) owner, Mark Cuban, praises Bitcoin, willing to buy more when it gets cheaper| FXMAG.COM US 30 stays in range The Dow Jones treads water as thinning liquidity and few economic data keep investors at bay. The sell-off in mid-December has prompted short-term buyers to bail out. Though the latest retracement secured bids in the critical demand zone around 32500. A rally back above 33450 would help the bulls regain confidence. 34400 near the recent top is a major resistance and the recovery could be back on track should buyers succeed in lifting the last offers over there. On the downside, 32850 is the first support.

At the close of the New York Stock Exchange, the Dow Jones was down 1.10%, the S&P 500 was down 1.20% and the NASDAQ Composite was down 1.35%. Dow Jones JPMorgan Chase & Co was the top gainer among the components of the Dow Jones in today's trading, up 0.72 points (0.55%) to close at 132.46. Quotes of Goldman Sachs Group Inc fell by 1.10 points (0.32%) to close at 340.87. Johnson & Johnson shed 0.77 points or 0.43% to close at 176.66. Shares of Apple Inc were the least gainers, the price of which fell by 3.99 points (3.07%), ending the session at 126.04. The Walt Disney Company was up 2.55% or 2.20 points to close at 84.17, while Dow Inc was down 2.34% or 1.20 points to close at 49. 99.  S&P 500 Leading gainers among the S&P 500 index components in today's trading were Generac Holdings Inc, which rose 5.61% to 96.26, Tesla Inc, which gained 3.31% to close at 112.71, and shares of Illumina Inc, which rose 1.08% to end the session at 190.81. The least gainers were SolarEdge Technologies Inc, which shed 5.87% to close at 275.84. Shares of APA Corporation shed 5.16% to end the session at 45.18. Quotes of Southwest Airlines Company decreased in price by 5.16% to 32.19. NASDAQ The leading gainers among the components of the NASDAQ Composite in today's trading were Kala Pharmaceuticals Inc, which rose 218.37% to hit 12.48, Minerva Surgical Inc, which gained 66.15% to close at 0.27, and also shares of Transcode Therapeutics Inc, which rose 51.82% to end the session at 0.61. The least gainers were Minerva Neurosciences Inc, which shed 39.15% to close at 1.43. Shares of Model Performance Acquisition Corp lost 35.54% to end the session at 8.78. Quotes Lightjump Acquisition Corp fell in price by 37.11% to 11.95. Numbers On the New York Stock Exchange, the number of securities that fell in price (2407) exceeded the number of those that closed in positive territory (717), while quotes of 69 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,412 companies fell in price, 1,348 rose, and 156 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.26% to 22.14. Gold Gold futures for February delivery lost 0.59%, or 10.70, to hit $1.00 a troy ounce. In other commodities, WTI crude for February delivery fell 1.08%, or 0.86, to $78.67 a barrel. Futures for Brent crude for March delivery fell 1.20%, or 1.02, to $83.66 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged at 0.24% to 1.06, while USD/JPY edged up 0.72% to hit 134.45. Futures on the USD index rose 0.34% to 104.24.     Relevance up to 03:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/306666

At the close on the New York Stock Exchange, the Dow Jones rose 1.05%, the S&P 500 index rose 1.75%, the NASDAQ Composite index rose 2.59%. Dow Jones The leading performer among the components of the Dow Jones index today was Walt Disney Company (NYSE:DIS), which gained 3.01 points or 3.58% to close at 87.18. Salesforce Inc rose 4.07 points or 3.17% to close at 132.54. Apple Inc rose 2.83% or 3.57 points to close at 129.61. The least gainers were Walgreens Boots Alliance Inc, which lost 0.11 points (0.29%) to 37.47 by the end of the session. Merck & Company Inc. shares rose 0.26 points (0.23%) to close at 110.82, while Boeing Co rose 0.53 points (0.28%) to close at 188. .91. S&P 500  Leading gainers among the S&P 500 index components in today's trading were SVB Financial Group, which rose 8.40% to 234.63, Tesla Inc, which gained 8.08% to close at 121.82, and shares of Warner Bros Discovery Inc, which rose 6.31% to end the session at 9.43. The least gainers were shares of Cardinal Health Inc, which shed 1.12% to close at 77.72. Shares of CF Industries Holdings Inc shed 0.96% to end the session at 85.51. AmerisourceBergen fell 0.78% to 166.05. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Hoth Therapeutics Inc, which rose 143.64% to hit 10.72, Kala Pharmaceuticals Inc, which gained 99.04% to close at 24.84, and also Palisade Bio Inc (NASDAQ:PALI), which rose 77.90% to close at 3.22. The least gainers were FStar Therapeutics Inc, which shed 40.38% to close at 4.09. Shares of Jasper Therapeutics Inc lost 21.97% to end the session at 0.46. Quotes of Th International Ltd decreased in price by 20.00% to 2.60. Numbers On the New York Stock Exchange, the number of securities that rose in price (2651) exceeded the number of those that closed in the red (450), while quotes of 73 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,095 companies rose in price, 646 fell, and 141 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.16% to 21.44. Gold Gold futures for February delivery added 0.34%, or 6.15, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery fell 0.37%, or 0.29, to $78.67 a barrel. Futures for Brent crude for March delivery fell 0.31%, or 0.26, to $83.73 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.56% to 1.07, while USD/JPY shed 1.12% to hit 132.96. Futures on the USD index fell 0.48% to 103.68. Relevance up to 03:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/306809

At the close of the New York Stock Exchange, the Dow Jones rose 2.13%, the S&P 500 rose 2.28%, and the NASDAQ Composite rose 2.56%. Dow Jones The leading performer among the Dow Jones index components in today's trading was Intel Corporation, which gained 1.17 points or 4.25% to close at 28.73. Walgreens Boots Alliance Inc rose 1.42 points or 4.04% to close at 36.61. Dow Inc rose 2.11 points or 3.99% to close at 55.02. The biggest losers were UnitedHealth Group Incorporated, which gained 0.04 points (0.01%) to end the session at 490.00. Home Depot Inc was down 0.65% or 2.06 points to close at 317.53, while Chevron Corp was up 0.75% or 1.32 points to close at 176. 56. S&P 500 The leading performers in the S&P 500 index today were Costco Wholesale Corp, which rose 7.26% to 482.87, Old Dominion Freight Line Inc, which gained 6.83% to close at 300.70. , as well as shares of IDEXX Laboratories Inc, which rose 6.82% to close the session at 447.77. The biggest losers were Baxter International Inc, which shed 7.84% to close at 48.45. Shares of Waters Corporation shed 7.15% to end the session at 322.21. Quotes of Thermo Fisher Scientific Inc decreased in price by 3.94% to 535.00. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Swvl Holdings Corp, which rose 115.36% to hit 0.30, Medavail Holdings Inc, which gained 80.19% to close at 0.56, and also shares of Golden Sun Education Group Ltd, which rose by 77.78%, ending the session at around 2.24. The biggest losers were Fate Therapeutics Inc, which shed 61.45% to close at 4.24. Shares of Nabriva Therapeutics AG shed 44.84% to end the session at 1.30. Quotes of Graphite Bio Inc decreased in price by 39.54% to 1.85. Numbers On the New York Stock Exchange, the number of securities that rose in price (2655) exceeded the number of those that closed in the red (459), while quotes of 79 shares remained virtually unchanged. On the NASDAQ stock exchange, 2689 companies rose in price, 1087 fell, and 190 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 5.92% to 21.13. Gold Gold futures for February delivery added 1.66%, or 30.50, to hit $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 0.14%, or 0.10, to $73.77 a barrel. Futures for Brent crude for March delivery fell 0.14%, or 0.11, to $78.58 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 1.18% to 1.06, while USD/JPY shed 0.99% to hit 132.09. Futures on the USD index fell 1.12% to 103.65.       Relevance up to 03:00 2023-01-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/307765

On Thursday this week, investors will be waiting for the publication of data on consumer prices in the US. Analysts believe that annual inflation in the country slowed down to 6.5% in December from 7.1% per annum recorded in November. The statistics may give traders a hint as to what to do next with the US Federal Reserve, whose next two-day meeting will take place on January 31 and February 1. About 77% of analysts expect the regulator's discount rate to increase by 25 basis points to 4.5-4.75%. In addition, as early as this Friday, the largest US banks will report on their financial results for the previous year. At the close on the New York Stock Exchange, the Dow Jones fell 0.34%, the S&P 500 index fell 0.08%, the NASDAQ Composite index rose 0.63%.  Dow Jones The leading performer among the Dow Jones index components today was Salesforce Inc, which gained 6.59 points or 4.69% to close at 147.10. Quotes of Intel Corporation rose by 0.58 points (2.02%), closing trading at 29.31. Goldman Sachs Group Inc rose 4.92 points or 1.41% to close at 353.00. The least gainers were Merck & Company Inc, which shed 4.46 points or 3.88% to end the session at 110.38. Johnson & Johnson rose 2.59% or 4.67 points to close at 175.58 while The Travelers Companies Inc shed 2.45% or 4.75 points to close at 189.12. S&P 500 Leading gainers among the components of the S&P 500 in today's trading were Tesla Inc, which rose 5.93% to 119.77, Norwegian Cruise Line Holdings Ltd, which gained 5.90% to close at 13.81. as well as shares of NVIDIA Corporation, which rose 5.18% to close the session at 156.28. The least gainers were Baxter International Inc, which shed 7.74% to close at 44.70. Shares of Regeneron Pharmaceuticals Inc shed 7.69% to end the session at 680.49. Quotes of Northrop Grumman Corporation decreased in price by 4.99% to 495.41. NASDAQ  The leading gainers among the components of the NASDAQ Composite in today's trading were CinCor Pharma Inc, which rose 143.97% to 28.74, Amryt Pharma Holdings Ltd, which gained 107.29% to close at 14.51. as well as Albireo Pharma Inc, which rose 92.16% to end the session at 43.85. The least gainers were shares of Calithera Biosciences Inc, which shed 81.77% to close at 0.66. Shares of Peak Bio Inc shed 27.27% to end the session at 2.56. Quotes of Cerus Corporation decreased in price by 28.04% to 2.72. Numbers On the New York Stock Exchange, the number of securities that rose in price (1868) exceeded the number of those that closed in the red (1202), while quotes of 102 shares remained practically unchanged. On the NASDAQ stock exchange, 2192 companies rose in price, 1561 fell, and 172 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.98% to 21.97. Gold Gold futures for February delivery added 0.33%, or 6.10, to hit $1.00 a troy ounce. In other commodities, WTI crude futures for February delivery rose 1.42%, or 1.05, to $74.82 a barrel. Futures for Brent crude for March delivery rose 1.46%, or 1.15, to $79.72 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.82% to 1.07, while USD/JPY shed 0.19% to hit 131.82. Futures on the USD index fell 0.68% to 102.94. Relevance up to 03:00 2023-01-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/307907

Summary:  Despite Powell’s relative silence on policy outlook, there were other Fed and non-Fed speakers that continued to sound hawkish and raising alarms on inflation. Bonds slumped although equities and USD struggled to find direction in pre-US CPI positioning moves. Some optimism seen on European growth outlook while the World Bank still cautious about a global recession. Australia’s November CPI was hotter-than-expected, aiding further gains for the AUD which is underpinned by China’s reopening and policy stimulus.   What’s happening in markets? Nasdaq 100 (NAS100.I) and S&P 500 (US500.I) rise and trade near key technical levels After two Fed speakers reminding markets US rates could rise to over 5%, JPMorgan CEO Jamie Dimon joined the party, saying there’s 50% chance rates could go to 6%, while money managers BlackRock and Fidelity (among others) warned that markets are underestimating the ultimate rate peak. The World Bank slashed growth forecasts in half, saying new adverse shocks could tip the global economy into a recession. It estimates GDP will rise 1.7% this year, (that’s almost half the pace forecast in June). So this sets the stormy tone for the major indices in 2023. That said, JPMorgan's trading desk says there a two-in-three chance Thursday’s inflation data for December (released on US Thursday), could be on the soft side and spark a 1.5-2% S&P500 rally. On Tuesday the major US indices rose in choppy conditions; the Nasdaq 100 (USNAS100.I) rose for the third day, adding 0.9%, edging closer toward its 50 day moving average, the S&P 500 (US500.I) fluctuated around 3,900, which is a possible technical key resistance level. Others signs of caution were see in bonds, as the two-year US Treasury yield rose to 4.25%, the 10-year jumped 9 bps to 3.62%, while gold nudged up, to 8-month highs, $1,881, while the US dollar advanced modestly. Ten of the 11 sectors within the S&P 500 gained on Tuesday, led by communication services, consumer discretionary, and materials. The only sector that declined was consumer staples. US Treasuries (TLT:xnas, IEF:xnas, SHY:xnas) sold off on supply Fed Chair Powell’s speech did not have much impact on Treasuries as he did not discuss U.S. monetary policy specifically and only noted generally “restoring price stability when inflation is high can require measures that are not popular in the short term”. Yields on Treasuries rose as European government bonds sold off on supply from Italy and Belgium and ahead of today’s supply from Germany. Yields on 10-year bunds rose 8bps. Traders also sold Treasuries going into the auction of USD40 billion 3-year Treasury notes, bringing yields to the intraday high right before the auction. The 3-year auction went well with strong demand and saw Treasury yields off their intraday highs afterward. Yields on the 2-year finished the session 4bps higher at 4.25% and those on the 10-year were 9bps cheaper at 3.62%. What should you be watching in equities across APAC? As in what's the big picture with China's reopening and what does it mean to investors? The Australian share market (ASXSP200.I) opened 0.7% higher, with other APAC markets expected to also open most higher. Japan’s futures suggest the Nikkei could rise the most across APAC today. But big picture, we think the most important thing for investor right now, is to consider, that… China’s economic recovery could be the dictator for the course of commodity assets, travel, and property. Not just China tech and consumer spending. China’s pivot away from its Covid Zero stance, led by a sooner-than-expected January 8 lifting of quarantines for cross-border travel, is poised to fast track its international air-transport recovery in 2023. But China’s recovery is not just about travel reviving. Chinese developers have also been seen kicking off recoveries in early 2023, having hit a bottom for contracted sales last year. As China’s economic recovery surges, stocks remain supported and are indeed rallying. A similar trend occurred in 2020 when mainland China reopened after a series of lockdowns following a breakout in Wuhan. But, reflecting on global trends, you’d think China has a better chance of putting Covid behind it this time around… which could support commodities and travel in particular. But, let’s see. Hong Kong’s Hang Seng (HIF3) and China’s CSI300 (03188:xhkg) trod water After a strong first week in the new year, Hong Kong and China stocks trod water on Tuesday. Hang Seng Index edged down 0.3% and CSI300 was nearly flat. Bilibili (09626) fell 4.3% after the company issued ADSs at a 7% discount to buy back convertible bonds. Chinese automakers rallied, especially EV names. Li Auto (02015:xhkg), Nio (09866:xhkg), and XPeng (09868:xhkg) surged each surged over 6%. BYD (01211:xhkg) pared all its initial weaknesses following the news that Berkshire Hathaway had reduced its stake to 13.97% from 14.06% and gained 2.9%. According to its CEO, Li Auto’s Model L7 is gaining market shares from Tesla’s Model 3 and Model Y. BYD reportedly will raise the prices of its EVs, as opposed to Tesla’s price cuts in China. Social media stories speculate that some Chinese cities are going to relax passenger car licensing restrictions in order to boost consumption. Shares of Geely (00175:xhkg) were up 6%, GAC (02238:xhkg) +3.1%, and BAIC (01958:xhkg) up 2.2%. Macao casino operators outperformed with Sands (01928:xhkg) rising 4.8%, MGM (02282:xhkg) up 3.6%, and SJM (00880:xhkg) up 3.1%. In A-shares, automakers, retailing, electric equipment, and beauty care names gained while financial, petrochemical, and steeling makers were among the biggest losers. FX: Dollar range-bound as it eyes the US CPI Lack of data and anu relevant commentary from Fed Chair Powell left the USD struggling to find direction in the pre-CPI trade. EURUSD was the outperformer, with better growth outlook underpinning, but it continued to find resistance at 1.0760. USDJPY is back above 132 amid higher yields, while AUDUSD rose back above 0.69 following the higher-than-expected November CPI. USDCNH also still below 6.7900. The Aussie dollar rallies after hotter than expected CPI and retail data The Aussie dollar rose 0.3% to 0.6911 US, with inflation and retail sales coming in hotter than expected, which shows the RBA has room to keep rising rates, and as such this theoretically supports the AUD. Core or trimmed CPI (which the RBA looks at) rose from 5.3% YoY to 5.6% YoY in November - hotter than 5.5% YoY expected. Retail sales rose 1.4% in November, beating the 0.6% expected, while also importantly showing Aussie retail sales strongly recovered from the October drop in sales. Some traders have a view the Aussie dollar will push up over the medium term, in lieu of China’s reopening notion which is likely to add to Australia’s GDP, with hot sauce coming from China buying Australian coal for the first time in two years. Crude oil (CLG3 & LCOH3) choppy amid China optimism and inventory build Crude oil prices wobbled on Tuesday as the market remained buoyed by optimism of China demand recovery. European session was supported by upbeat Eurozone outlook. Meanwhile, EIA raised its forecast for demand growth in 2023 to 1.05mb/d. However, it also expects US output to rise to meet this demand, with US shale oil providing the bulk of the gains. The API report showed a strong inventory build of 14.9mn barrels in crude as against expectations of a 2.2mn draw, and focus now turns to EIA figures today. WTI futures touched $76/barrel before sliding back below $75, while Brent reversed from $81. Copper continues to march higher Copper continues to get support from China’s reopening and policy support to fuel economic recovery. Gains were further boosted by Chair Powell staying away from a pushback on easing financial conditions, and the weaker USD as a result. Having retraced close to 50% of the 2022 sell off, HG copper is now seeing resistance ahead of $4.08 (LME $8900), potentially opening up some scope for a correction to check the strength of support. Focus in that regard being $3.84, the 200 DMA, the break above which started this latest runup.  Read next: The EUR/USD Pair Is Still Above 1.0700$, The USD/JPY Pair Was Little Changed| FXMAG.COM What to consider? Powell stays away from policy guidance With some expectations that Powell would likely pushback on the easing financial conditions, equity markets celebrated the lack of any clear guidance on policy direction. Fed Chair Powell did not comment on the current US economic or monetary policy outlook in his prepared remarks, only stating that restoring price stability when inflation is high can require measures not popular in the short term. The pushback on market’s rate cut expectations from Kashkari (voter) was more direct, saying that "They are going to lose the game of chicken." Bowman, also a voter, was also relatively hawkish with comments hinting at more work to do on inflation. When a sufficiently restrictive rate level is reached, the Fed needs to hold the policy rate there "for some time". The story is shifting on Europe Softer energy prices, the lack of black-out and resilient hard data (notably in Germany) are pushing forecasters to review their 2023 recession calls. Goldman Sachs is the first international bank to drastically revised upward its growth forecasts, from minus 0.1 % in 2023 to 0.6 %. Said differently, the U.S. based bank does not expect a recession in the eurozone this year anymore. Early Q4 indications are out this Friday with the preliminary 2022 FY growth estimate. This should certainly confirm a milder-then-expected economic downturn. A mild recession (meaning drop in GDP of 0.1 or 0.2 %) is still our baseline this year. But we agree that the economy is surprisingly resilient. We also believe there will be no extreme macro and market events in 2023 – which could be positive from a growth perspective. If the economy performs much better, this will however give ECB policymakers more confidence in hiking rates as laid out in December by Christine Lagarde. World Bank warns of a global recession The World Bank cut its global growth forecast to 1.7% this year, down from an estimate of 3.0% in June. This marks the third weakest pace of global growth in nearly 30 years, overshadowed by only the 2009 and 2020 downturns. Growth estimate for 2024 was also slashed, down to 2.7%, as persistent inflation and high interest rates weigh. Meanwhile, the agency urged for global action to mitigate the risks of a global recession and debt distress. Growth of aggregate financing slowed to 9.6% Y/Y in China while loans to corporate picked up In December, the growth of outstanding aggregate financing, the broad measure of credit in China, decelerated to 9.6% Y/Y from 10.0% Y/Y in November. New aggregate financing declined to RMB1,310 billion in December (below consensus RMB1,850 billion) from RMB1,987 billion in November, dragged by a decline in new bond issuance from local governments and a net bond redemption by corporate. New RMB loans rose to RMB1,400 billion (above consensus RMB1,200 billion) from RMB1,214 billion in November and were also above RMB1,130 billion in December 2021. The growth of RMB loans picked up to 11.1% Y/Y in December from 11.0% in November. The better-than-expected growth in RMB loans was driven by new loans to the corporate sector which rose to RMB1,264 billion in December from RMB884 billion in November and above RMB 662 billion a year ago, as the Chinese authorities had asked banks to extend credits to support the housing market and other key industries. New loans to households came in weak, falling to RMB175 billion in December from RMB263 billion in November and RMB372 billion in December a year ago. The daily number of domestic flights in China rose to over 10,000, the first time since August China’s Lunar New Year travel season started last Saturday 7 January with 9,454 flights or a 2.26% growth from the first day of the same travel season last year. The number of daily flights increased to 10,123 on 8 January, an 13.65% increase from the same period last year and above 10,000 for the first time since August 2022. China suspends short-term visas for visitors from Japan and South Korea In retaliation to travel restrictions imposed on visitors from China, China stops issuing short-term visas for visitors from Japan and South Korea. Restrictions from both sides could be a temporary setback to the trend of the reopening of the Chinese economy but it is likely to be resolved in the near term. Microsoft may invest USD10 billion in OpenAI Microsoft is reportedly in discussion to make an investment of USD 10 billion in Open AI, the creator of AI bot ChatGPT. This would be Microsoft’s second investment, after acquiring a USD1 billion stake in 2019. Microsoft is expected to integrate ChatGPT into the software giant’s search engine.   For a look ahead at markets this week – Read/listen to our Saxo Spotlight. For a global look at markets – tune into our Podcast.   Source: Market Insights Today: Powell’s silence on policy puts the focus back on US CPI – 11 January 2023 | Saxo Group (home.saxo)

At the close of the New York Stock Exchange, the Dow Jones was up 0.80%, the S&P 500 was up 1.28% and the NASDAQ Composite was up 1.76%. According to forecasts, annual inflation in the US slowed to 6.5% from 7.1% in November. Analysts note that the expected slowdown in inflation, coupled with an improvement in the situation in supply chains and an easing of covid restrictions in China, creates the basis for optimism in the markets. The publication of the consumer price index is expected on Thursday. Dow Jones The leading performer among the Dow Jones index components in today's trading was Microsoft Corporation, which gained 6.92 points or 3.02% to close at 235.77. Quotes of Home Depot Inc rose by 8.37 points (2.61%), closing the auction at 329.00. Apple Inc rose 2.76 points or 2.11% to close at 133.49. The least gainers were shares of Verizon Communications Inc, which shed 0.77 points or 1.84% to end the session at 41.18. Salesforce Inc was up 1.72% or 2.54 points to close at 144.90, while Procter & Gamble Company was down 0.81% or 1.23 points to close at 150. .66.  S&P 500 Leading gainers among the S&P 500 index components in today's trading were Bio-Rad Laboratories Inc, which rose 6.53% to 461.17, Etsy Inc, which gained 6.11% to close at 134.69. as well as SolarEdge Technologies Inc, which rose 5.84% to close the session at 302.15. The least gainer was Teleflex Incorporated, which shed 7.60% to close at 239.77. Shares of DexCom Inc lost 4.26% and ended the session at 106.16. Quotes of Intuitive Surgical Inc decreased in price by 4.20% to 259.96. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Atlis Motor Vehicles Inc, which rose 276.12% to 10.08, Broadwind Energy Inc, which gained 96.90% to close at 4.45. as well as shares of Bed Bath & Beyond Inc, which rose 68.60% to close the session at 3.49. The least gainers were Tantech Holdings Ltd, which shed 28.10% to close at 2.20. Shares of American Virtual Cloud Technologies Inc lost 24.65% to end the session at 1.07. Quotes of Kala Pharmaceuticals Inc decreased in price by 20.27% to 21.00. Numbers On the New York Stock Exchange, the number of securities that rose in price (2,342) exceeded the number of those that closed in the red (728), while quotes of 101 shares remained virtually unchanged. On the NASDAQ stock exchange, 2499 companies rose in price, 1223 fell, and 181 remained at the level of the previous close. Broadwind Energy Inc (NASDAQ:BWEN) rose to a 52-week high, up 96.90% or 2.19 points to end at 4.45. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.48% to 9/21. Gold Gold futures for February delivery added 0.23%, or 4.35, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 3.30%, or 2.48, to $77.60 a barrel. Futures for Brent crude for March delivery rose 3.47%, or 2.78, to $82.88 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.21% to 1.08, while USD/JPY rose 0.14% to hit 132.43. Futures on the USD index fell 0.01% to 102.97.     Relevance up to 03:00 2023-01-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/308278

At the close on the New York Stock Exchange, the Dow Jones rose 0.64% to hit a monthly high, the S&P 500 index rose 0.34%, the NASDAQ Composite index rose 0.64%. Dow Jones The leading performer among the components of the Dow Jones index today was Walt Disney Company, which gained 3.48 points or 3.61% to close at 99.81. Salesforce Inc rose 4.70 points or 3.24% to close at 149.60. Boeing Co rose 6.29 points or 3.02% to close at 214.32. Shares of Coca-Cola Co were the leaders of the fall, the price of which fell by 0.80 points (1.29%), ending the session at 61.21. Walgreens Boots Alliance Inc was up 1.24% or 0.46 points to close at 36.66, while Walmart Inc was down 0.90% or 1.32 points to close at 144. 81. S&P 500 The top gainers among the S&P 500 index components in today's trading were American Airlines Group, which gained 9.71% to 16.83, United Airlines Holdings Inc, which gained 7.52% to close at 51.30, and Cognizant Technology Solutions Corp Class A shares, which gained 5.85% to close the session at 65.10. The least gainers were Charles River Laboratories, which shed 5.95% to close at 232.25. Bio-Techne Corp lost 5.14% to end the session at 82.17. Quotes of Illumina Inc decreased in price by 5.05% to 193.75. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Arrival Vault USA Inc, which rose 100.00% to hit 0.54, Akerna Corp, which gained 66.67% to close at 1.65, and also shares of Moxian Inc, which rose by 73.32%, ending the session at around 1.04. The leading gainers were Oramed Pharmaceuticals Inc, which shed 76.46% to close at 2.54. Atlis Motor Vehicles Inc lost 35.32% to end the session at 6.52. Quotes of Universe Pharmaceuticals Inc decreased in price by 25.30% to 0.90. Numbers On the New York Stock Exchange, the number of securities that rose in price (2353) exceeded the number of those that closed in the red (733), while quotes of 91 shares remained virtually unchanged. On the NASDAQ stock exchange, 2633 companies rose in price, 1063 fell, and 181 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 10.72% to 18.83, hitting a new 6-month low. Read next: The USD/JPY Pair Drop To 130, The Aussie Pair Keeps Trading Above 0.69$| FXMAG.COM  Gold Gold futures for February delivery added 1.17%, or 22.05, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 1.20%, or 0.93, to $78.34 a barrel. Futures for Brent crude for March delivery rose 1.50%, or 1.24, to $83.91 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.91% to 1.09, while USD/JPY shed 2.43% to hit 129.24. Futures on the USD index fell 0.94% to 101.96.   Relevance up to 03:00 2023-01-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/308486

Also on Friday, the largest US banks published their financial results for the fourth quarter and all of last year. The net profit of all four banking giants decreased in 2022. In this regard, shares of Wells Fargo are depreciating by 3.8%, Bank of America - by 2.8%, JP Morgan - by 1.3%, Citigroup - by 0.8%. At the close in the New York Stock Exchange, the Dow Jones rose 0.33% to hit a monthly high, the S&P 500 index rose 0.40%, the NASDAQ Composite index rose 0.71%. Dow Jones The leading performer among the components of the Dow Jones index today was JPMorgan Chase & Co, which gained 3.52 points or 2.52% to close at 143.01. Quotes of Caterpillar Inc rose by 3.39 points (1.33%), closing the session at 258.46. Apple Inc rose 1.33 points or 1.00% to close at 134.74. The least gainers were UnitedHealth Group Incorporated (NYSE:UNH), which shed 6.10 points or 1.23% to end the session at 489.57. Shares of Intel Corporation rose 0.18 points (0.59%) to close at 30.11, while Walt Disney Company shed 0.41 points (0.41%) to close at 99. 40. S&P 500  Leading gainers among the components of the S&P 500 in today's trading were Illumina Inc, which rose 3.80% to 201.11, Wells Fargo & Company, which gained 3.25% to close at 44.22, and also shares of Stanley Black & Decker Inc, which rose 3.06% to end the session at 88.91. The least gainers were Northrop Grumman Corporation, which shed 5.44% to close at 461.43. Shares of Ford Motor Company lost 5.29% to end the session at 12.72. Quotes of General Motors Company decreased in price by 4.75% to 36.51. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were iPower Inc, which rose 50.42% to hit 0.77, Moxian Inc, which gained 45.21% to close at 1.51, and shares SmileDirectClub Inc, which rose 46.77% to end the session at 0.70. The least gainers were Catalyst Biosciences Inc, which shed 32.69% to close at 0.26. Shares of Bed Bath & Beyond Inc shed 30.15% to end the session at 3.66. Quotes of AGBA Acquisition Ltd decreased in price by 21.52% to 4.12. Numbers On the New York Stock Exchange, the number of securities that rose in price (1848) exceeded the number of those that closed in the red (1178), while quotes of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 2343 companies rose in price, 1320 fell, and 185 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.55% to 18.35, hitting a new 52-week low. Gold Gold futures for February delivery added 1.25%, or 23.75, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 2.03%, or 1.59, to $79.98 a barrel. Futures for Brent crude for March delivery rose 1.64%, or 1.38, to $85.41 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.12% to 1.08, while USD/JPY fell 1.06% to hit 127.85. Futures on the USD index fell 0.10% to 101.89.   Relevance up to 03:00 2023-01-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/308651

At the close on the New York Stock Exchange, the Dow Jones fell 1.14%, the S&P 500 fell 0.20%, the NASDAQ Composite index rose 0.14%. Dow Jones McDonald's Corporation was the top performer among the components of the Dow Jones index today, up 5.22 points or 1.94% to close at 274.11. Chevron Corp rose 2.93 points or 1.65% to close at 180.49. Apple Inc rose 1.18 points or 0.88% to close at 135.94. The least gainers were Goldman Sachs Group Inc, which shed 24.08 points or 6.44% to end the session at 349.92. The Travelers Companies Inc (NYSE:TRV) was up 4.60% or 8.92 points to close at 185.00 while Verizon Communications Inc was down 2.41% or 1.01 points. and finished trading at 40.85. S&P 500  Leading gainers among the S&P 500 components in today's trading were Tesla Inc, which rose 7.43% to 131.49, Morgan Stanley, which gained 5.91% to close at 97.08, and NVIDIA Corporation, which rose 4.75% to end the session at 177.02. The least gainers were Emerson Electric Company, which shed 6.82% to close at 91.24. Shares of Goldman Sachs Group Inc lost 6.44% to end the session at 349.92. Mohawk Industries Inc lost 6.30% to 111.18. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Celyad SA, which rose 137.80% to hit 1.90, Calyxt Inc, which gained 90.25% to close at 0.35, and Avenue Therapeutics Inc, which rose 63.11% to end the session at 1.99. Shares of Viveve Medical Inc were the least gainers, losing 70.54% to close at 0.26. Shares of Edesa Biotech Inc lost 42.06% to end the session at 1.46. Quotes of Angion Biomedica Corp fell in price by 30.88% to 0.70. Numbers On the New York Stock Exchange, the number of securities that rose in price (1,579) exceeded the number of those that closed in the red (1,484), while quotes of 99 shares remained virtually unchanged. On the NASDAQ stock exchange, 1960 companies rose in price, 1775 fell, and 168 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.67% to 19.36. Gold Gold futures for February delivery lost 0.53%, or 10.25, to hit $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 1.42%, or 1.14, to $81.25 a barrel. Futures for Brent crude for March delivery rose 2.56%, or 2.16, to $86.62 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.23% to 1.08, while USD/JPY fell 0.28% to hit 128.18. Futures on the USD index rose by 0.18% to 102.13 Relevance up to 03:00 2023-01-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/309013

At the close of the New York Stock Exchange, the Dow Jones fell 0.76%, the S&P 500 fell 0.76%, and the NASDAQ Composite index fell 0.96%. Dow Jones UnitedHealth Group Incorporated was the top performer among the components of the Dow Jones index today, up 8.12 points or 1.71% to close at 484.36. Quotes Merck & Company Inc rose by 1.11 points (1.02%), ending trading at 109.90. Chevron Corp rose 1.77 points or 1.00% to close at 179.00. The least gainers were Home Depot Inc, which shed 12.81 points or 3.96% to end the session at 310.88. 3M Company was up 3.52% or 4.32 points to close at 118.43, while American Express Company was down 2.37% or 3.57 points to close at 146. 85. S&P 500 Among the S&P 500 index components gainers in today's trading were Comerica Inc, which rose 5.91% to 69.84, M&T Bank Corp, which gained 5.49% to close at 153.81, and shares of Truist Financial Corp, which rose 4.31% to end the session at 47.71. The least gainers were Enphase Energy Inc, which shed 10.92% to close at 222.97. Shares of SolarEdge Technologies Inc lost 10.32% to end the session at 286.72. Quotes Northern Trust Corporation fell in price by 8.60% to 90.46. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Neurosense Therapeutics Ltd, which rose 76.19% to hit 2.22, Salarius Pharmaceuticals Inc, which gained 52.99% to close at 3.58, and also shares of Cuentas Inc, which rose 40.48% to end the session at 0.59. The least gainers were Jupiter Wellness Inc, which shed 38.81% to close at 0.62. Shares of Aceragen Inc lost 33.33% and ended the session at 5.76. Quotes of SurModics Inc decreased in price by 29.35% to 26.38. Numbers On the New York Stock Exchange, the number of securities that fell in price (1842) exceeded the number of those that closed in positive territory (1204), while quotes of 91 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,337 stocks fell, 1,353 rose, and 190 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.88% to 20.52. Gold Gold futures for February delivery added 1.41%, or 26.90, to $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 1.22%, or 0.97, to $80.77 a barrel. Futures for Brent crude for March delivery rose 1.51%, or 1.28, to $86.26 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.38% to 1.08, while USD/JPY fell 0.38% to hit 128.38. Futures on the USD index fell 0.28% to 101.82   Relevance up to 03:00 2023-01-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/309378

At the close of the New York Stock Exchange, the Dow Jones rose 0.76%, the S&P 500 rose 1.19%, and the NASDAQ Composite rose 2.01%. Dow Jones Shares of Intel Corporation led the way among the components of the Dow Jones index today, up 1.05 points or 3.59% to close at 30.27. Salesforce Inc rose 4.62 points or 3.05% to close at 155.87. Apple Inc rose 2.35% or 3.24 points to close at 141.11. The least gainers were Procter & Gamble Company, which shed 1.92 points or 1.34% to end the session at 141.05. Verizon Communications Inc was up 0.93% or 0.37 points to close at 39.63 while Amgen Inc was down 0.86% or 2.27 points to close at 260. 97. S&P 500 Leading gainers among the components of the S&P 500 in today's trading were Advanced Micro Devices Inc, which rose 9.22% to hit 76.53, Western Digital Corporation, which gained 8.66% to close at 41.79. as well as shares of Tesla Inc, which rose 7.74% to end the session at 143.75. The least gainers were Xylem Inc, which shed 7.95% to close at 101.42. Shares of SBA Communications Corp shed 3.55% to end the session at 286.27. Schlumberger NV fell 2.60% to 55.86. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Gbs, which rose 293.13% to hit 1.03, Helbiz Inc, which gained 109.13% to close at 0.43, and VERB TECHNOLOGY COMPANY INC, which rose 69.65% to end the session at 0.39. The least gainers were Catalyst Pharmaceuticals Inc, which shed 29.04% to close at 14.76. Shares of Atlis Motor Vehicles Inc shed 25.11% to end the session at 3.40. Quotes of Ontrak Inc decreased in price by 21.23% to 0.83. Numbers On the New York Stock Exchange, the number of securities that rose in price (2196) exceeded the number of those that closed in the red (841), while quotes of 122 shares remained virtually unchanged. On the NASDAQ stock exchange, 2362 companies rose in price, 1346 fell, and 201 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.20% to 19.81. Commodities Gold futures for February delivery added 0.23%, or 4.35, to hit $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 0.01%, or 0.01, to $81.65 a barrel. Futures for Brent crude for March delivery rose 0.57%, or 0.50, to $88.13 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.15% to 1.09, while USD/JPY rose 0.84% to hit 130.65. Futures on the USD index rose by 0.01% to 101.79. Relevance up to 04:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/309717

At the close on the New York Stock Exchange, the Dow Jones rose 0.03%, the S&P 500 index fell 0.02%, the NASDAQ Composite index fell 0.18%.  Dow Jones The leading performer among the components of the Dow Jones index today was Walt Disney Company, which gained 2.12 points or 2.00% to close at 108.12. McDonald's Corporation rose 3.44 points or 1.28% to close at 273.00. Walgreens Boots Alliance Inc rose 0.38 points or 1.06% to close at 36.28. The least gainers were 3M Company shares, which lost 2.07 points or 1.80% to end the session at 112.93. The Travelers Companies Inc was up 1.30% or 2.51 points to close at 190.74 while Amgen Inc (NASDAQ:AMGN) was down 1.22% or 3.16 points or ended trading at 256.54. S&P 500 Leading gainers among the components of the S&P 500 in today's trading were MarketAxess Holdings Inc, which rose 10.25% to 363.28, Capital One Financial Corporation, which gained 8.99% to close at 116.09. as well as Warner Bros Discovery Inc, which rose 8.59% to end the session at 14.53. The least gainers were Nextera Energy Inc, which shed 8.71% to close at 76.59. Shares of Nasdaq Inc lost 5.85% and ended the session at 58.30. Quotes of Intuitive Surgical Inc decreased in price by 5.50% to 243.80. NASDAQ The leading gainers among the components of the NASDAQ Composite in today's trading were Minerva Surgical Inc, which rose 65.90% to 0.38, Alvarium Tiedemann Holdings Inc, which gained 65.41% to close at 15.40. as well as shares of GeoVax Labs Inc, which rose 58.89% to close the session at 1.11. Shares of Grom Social Enterprises Inc became the leaders of the decline, which fell in price by 35.63%, closing at 2.06. Shares of Helbiz Inc lost 29.76% and ended the session at 0.29. Quotes of Waitr Holdings Inc decreased in price by 27.79% to 0.42. Numbers On the New York Stock Exchange, the number of securities that rose in price (1651) exceeded the number of those that closed in the red (1387), while quotes of 132 shares remained virtually unchanged. On the NASDAQ stock exchange, 1906 companies rose in price, 1745 fell, and 194 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.63% to 19.08. Gold Gold futures for February delivery added 0.60%, or 11.70, to $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 0.46%, or 0.37, to $80.50 a barrel. Futures for Brent crude for March delivery rose 0.30%, or 0.26, to $86.39 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.28% to 1.09, while USD/JPY fell 0.46% to hit 129.55. Futures on the USD index fell 0.27% to 101.40. Relevance up to 04:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/310098

The sharp growth of US tech stocks boosted market sentiment amid optimistic earnings forecasts from electric car maker Tesla Inc. Futures contracts on the Nasdaq 100 index rose by about 0.5%. Tesla jumped more than 8% during premarket trading in New York after beating earnings and sales estimates. Futures on the S&P 500 index added 0.3%, and the industrial Dow Jones gained 0.2%. Europe stocks In Europe, investors reacted positively to reports from Nokia Oyj Telecommunications Group and chipmaker STMicroelectronics NV, which helped the Stoxx 600 index gain more than 0.5%. Although companies are not boasting of high figures they are not disastrous either, which keeps the demand for risky assets, including stocks. The January growth is exaggerated given the recession risks. However, next week's Federal Reserve meeting may confirm that the market and investors were right. China The buoyant market sentiment was also linked to China, where data on holiday and tourism spending showed that the country's recovery is gaining momentum. On the first trading day after the Lunar New Year, the Hang Seng Index jumped by 2.4% and closed at its highest level since March 1, 2022. US GBP Expectations of a soft landing of the US economy and that the Federal Reserve is nearing the end of its rate hike cycle are also pushing investors to buy cheaper assets. US GDP reports for Q4 this year are expected today, as well as employment data, which will help determine the Fed's future policy course. Euro The euro is down slightly, but it is getting continued support from statements by European Central Bank officials, who continue to argue in favor of further significant policy tightening in the coming months. Bond yields in the Eurozone rose by several points. Oil and Bitcoin Oil prices continued to rise amid expectations of a rebound in demand in China. Bitcoin fell by more than 2%, wiping out much of Wednesday's gains. S&P 500 index As for the S&P 500 index, the situation remains on the side of bulls. The index may continue to grow but bulls need to protect the support level of $4,010 as well as take control over $4,038. After that, we may expect a more confident spurt to $4,064. At the same time, it would be difficult to reach above $4,091. If the pair declines and we see weak activity from bulls at $4,010, they will have to protect $3,980 and $3,960. Breaking through this level, the index may be pushed to $3,923.   Relevance up to 12:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333364

At the close of the New York Stock Exchange, the Dow Jones rose 0.08%, the S&P 500 rose 0.25%, and the NASDAQ Composite rose 0.95%. Dow Jones The leading performer among the components of the Dow Jones index today was American Express Company, which gained 16.43 points or 10.54% to close at 172.31. Visa Inc Class A rose 6.73 points or 3.00% to close at 231.44. Walgreens Boots Alliance Inc rose 0.67 points or 1.84% to close at 37.17. The least gainers were shares of Intel Corporation, which lost 1.93 points or 6.41% to end the session at 28.16. Chevron Corp was up 4.44% or 8.34 points to close at 179.45 while The Travelers Companies Inc was down 1.74% or 3.35 points to close at 188. .76. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Tesla Inc, which rose 10.99% to 177.88, American Express Company, which gained 10.54% to close at 172.31, and shares of L3Harris Technologies Inc, which rose 7.92% to end the session at 212.10. The least gainers were Hasbro Inc, which shed 8.11% to close at 58.61. Shares of KLA Corporation shed 6.85% to end the session at 399.37. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were BuzzFeed Inc, which rose 85.17% to 3.87, Applied UV Inc, which gained 52.88% to close at 1.59, and shares of Lucid Group Inc, which rose 43.00% to end the session at 12.87. The least gainers were Nemaura Medical Inc, which shed 42.31% to close at 1.65. Shares of Jack Creek Investment Corp. lost 33.79% and ended the session at 12.44. Quotes of Akerna Corp fell in price by 31.46% to 1.22. Numbers On the New York Stock Exchange, the number of securities that rose in price (1,738) exceeded the number of those that closed in the red (1,303), while quotes of 114 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,131 companies rose in price, 1,535 declined, and 173 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 1.17% to 18.51. Commodities Gold futures for February delivery lost 0.09%, or 1.80, to hit $1.00 a troy ounce. In other commodities, WTI crude for March delivery fell 1.91%, or 1.55, to $79.46 a barrel. Futures for Brent crude for March delivery fell 1.18%, or 1.03, to $86.44 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.19% to 1.09, while USD/JPY fell 0.30% to hit 129.82. Futures on the USD index rose 0.08% to 101.72.   Relevance up to 04:00 2023-01-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/310476

At the close on the New York Stock Exchange, the Dow Jones rose 1.09%, the S&P 500 index rose 1.46%, the NASDAQ Composite index rose 1.67%. Dow Jones The leading performer among the components of the Dow Jones index today was Home Depot Inc, which gained 9.93 points or 3.16% to close at 324.17. UnitedHealth Group Incorporated rose 13.40 points or 2.76% to close at 499.19. Dow Inc rose 1.40 points or 2.42% to close at 59.35. The least gainers were Caterpillar Inc, which shed 9.21 points or 3.52% to end the session at 252.29. McDonald's Corporation was up 3.49 points (1.29%) to close at 267.40, while International Business Machines was down 0.57 points (0.42%) to close at 134. 73. S&P 500 Leading gainers among the S&P 500 components in today's trading were Smith AO Corporation, which rose 13.72% to 67.73, International Paper, which gained 10.66% to close at 41.82, and shares of PulteGroup Inc, which rose 9.42% to end the session at 56.89. The least gainers were Phillips 66, which shed 5.77% to close at 100.28. Shares of Corning Incorporated shed 4.89% to end the session at 34.61. NASDAQ The leading gainers among the components of the NASDAQ Composite in today's trading were Motorsport Gaming Us LLC, which rose 713.69% to hit 21.40, Mobile Global Esports Inc, which gained 161.93% to close at 2.58 , as well as shares of Atlas Technical Consultants Inc, which rose 121.76% to close the session at 12.13. Shares of Sidus Space Inc were the least gainers, losing 53.94% to close at 0.41. Shares of Nuvve Holding Corp lost 40.43% and ended the session at 1.37. Evoke Pharma Inc lost 29.74% to 4.04. Numbers On the New York Stock Exchange, the number of securities that rose in price (2579) exceeded the number of those that closed in the red (477), while quotes of 90 shares remained virtually unchanged. On the NASDAQ stock exchange, 2824 companies rose in price, 865 fell, and 175 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.76% to 19.39. Gold Gold futures for February delivery added 0.27%, or 5.20, to $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 1.54%, or 1.20, to $79.10 a barrel. Brent oil futures for April delivery rose 1.28%, or 1.08, to $85.58 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.20% to 1.09, while USD/JPY fell 0.23% to hit 130.15. Futures on the USD index fell 0.19% to 101.89.   Relevance up to 04:00 2023-02-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/310903

„The future’s so bright, I gotta wear shades”, or about shares and ETFs „The future’s so bright, I gotta wear shades” is the title that, unfortunately, we cannot use to forecast 2023. Although, the new year will have to really work hard to surprise anyone who has lived through the past couple of years. It appears that all investors’ eyes are on China and its success in resuming economic activity. A rebounding China will boost imports of oil, commodities and raw materials while fueling demand for airline tickets, hotel rooms and foreign real estate. „Surely it will push up global inflation if China reopens fully,” says Iris Pang, chief economist for Greater China at ING Group NV. There is a risk that China will act more inflationary in 2023, but this risk seems limited due to the very real likelihood that supply will also improve in many sectors of the economy. Inflation and bond yields are the major risks for 2023 stock indices performance. While a mild recession in 2023 is almost certain, the Fed possibly will slow its rate hikes in case inflation starts to show signs of easing. With slowing growth, wage increases would slow, which, among others, would help stabilize corporate margins. „It’s astonishing,” said Harvard University professor Jeremy Stein, „If you told any one of us a year ago, ‚we’re going to have a bunch of 75 basis-point hikes,’ you’d have said, ‚Are you nuts? You’re going to blow up the financial system.’” Guess what? 75 basis-point hikes are done, and the financial system has not broken – and it is not even near that happening. Stock indices are open to another downward phase (we didn’t have a capitulation yet), but by the end of 2023, they could be back on the upward trend even if the world is in a „mild” recession. Investors should watch the market and remain cautious until the new trend is proven. However, someone may say it might be a good to have some exposure and adjust when your asset allocation gets out of whack. Essential factors to watch for 2023 and stock indices are the short-term bond yields, put/call ratio and bank liquidity. Finally, one should remember that stocks are hostages to the tyranny of round numbers, so it might be good for the support and resistance lines to be always near them. As we move further, let us look at what the companies expect the year 2023 to bring. We have studied the earnings forecasts of all 30 companies that are part of the Dow Jones Industrials index (US30). Read next: Santander Bank Polska Shareholders Can Expect A Solid Dividend, The ETH Liquid Staking Narrative Is Already Going Strong| FXMAG.COM It’s going to be tough at first, and then it’s downhill for the Dow Jones Collecting the data of Q1 2023 earnings per share forecasts, we can see that 12 of the 30 companies in this index (40%) are expected to improve their quarterly earnings, resulting in an 11.7% growth in EPS from Q4 2022 to Q1 2023. The average price-to-future earnings ratio within the index is expected to be 16.8, an improvement compared to the current average P/E ratio within the index of 18.5. The most considerable improvement for the upcoming quarter is forecasted by the aircraft and missile manufacturer Boeing Co., which was the only company within the index to record a loss in Q3 2022. In fact, if we exclude Boeing Co. data from the calculations, the estimated EPS growth in the following quarter diminishes to a meagre 2.00%. The second most substantial growth is forecasted by Goldman Sachs Group Inc., which is also expected to report the highest quarterly EPS (9.99) within the index. The investment bank would be able to boost its earnings by taking advantage of the increasing interest rate environment. Two companies expecting their EPS to decrease in the upcoming quarter are Chevron Corp. and McDonald’s Corp. The cumulative annual earnings figures are similarly presented. Cumulative EPS is calculated by summing annual EPS for all companies within the index, allowing us to evaluate the EPS changes between two periods. However, to compare the full annual periods, we have taken the expected results for the last quarter of 2022. The data show that the anticipated annual EPS increase in 2023 within the index would be 10.37% (6.19% if we exclude Boeing Co. as an outlier). Furthermore, 26 of the 30 companies in the index are likely to report year-on-year earnings growth. These results show that analysts are currently predicting a slowdown at a large proportion of companies in the medium term and a slow improvement by the end of next year. The companies’ employee retention activities and job postings share the same relatively gloomy sentiment for the upcoming year. Good morning, but unfortunately you are fired Last year, all major tech companies announced job cuts – some significant, some smaller. The motivation for companies to reduce the employee count comes from various factors, such as changing business models and a slowing economy. However, the biggest reason for the extensive tech firing in 2022 is the growth opportunities in cloud computing services and online shopping upon Covid-19 pandemic that drove people to organize their lives remotely. For example, due to this change in consumer behavior, Amazon doubled its workforce and had its most profitable period in the two years since the pandemic’s beginning. As the pandemic slowed in most of the world, such companies as Amazon were left with the high costs of rapid expansions, slower sales, and high inflation. Amazon’s growth stalled to the lowest rate in 20 years in mid-2022. During the period between April and September, Amazon laid off around 80,000 people around the world. In November, it announced another 10,000-employee layoff (the number was increased to 20,000 in December) and froze hiring. In total, Amazon’s downsizing amount to approximately 6.6% of its total workforce. While this has been the biggest job layoff in the history of Amazon in absolute terms, Amazon is experienced in managing its workforce amid recessions – it cut 1,500 jobs during the dot-com crash (which at that time was 15% of the staff). Besides large tech companies such as Amazon, Meta and Twitter, also startups – especially those emerging in response to the needs of a pandemic-hit world - and cryptocurrency companies are also feeling the pressure of inflation, the difficulty of raising new funding and, in the case of the latter, falling Bitcoin prices and investor sentiment. According to the Crunchbase database of public and private companies in the United States laying off employees, nearly 400 companies have announced layoffs, from which 21 reported a complete shutdown and 15 more fired 40% to 60% of their workforce. The major layoffs took place in Fintech, Crypto, E-commerce and Social media industries If anyone is wondering whether redundancies continue into 2023, they will (at least at Amazon). It has been confirmed by the company’s CEO Andy Jassy. Although, it is relatively safe to say that the layoffs would continue in 2023 for other tech companies and may spread out to other sectors as well. While the US labour market still shows meager unemployment data, if taking a closer look, it is visible that a considerable part of the hiring takes place in those industries trampled by the pandemic. And the downsizing among Tech companies also seems to become a problem for other sector workers. Among other (potentially more logical) factors is that corporate leaders are just people with a sense of herd unity. Therefore, if their competitors announce layoffs to prepare for the coming recession, they would probably consider doing the same. While it is harder to look for the silver lining in getting fired, it may be an absolute necessity for the company to undergo downsizing as part of a strategic restructuring. Downsizing allows companies to save cash, improve efficiency and, if necessary, survive economic slowdown. Nevertheless, it is crucial to do the due diligence and see what other activities the company is performing in order to optimize its operations – no company has earned billions by simply laying off employees. While cutting jobs is not necessarily bad for the company, the overall market typically perceives it as a negative sign, which is clearly reflected in its stock price. Studies involving 141 companies announcing layoffs between 1979 and 1997 and 1,445 companies announcing layoffs between 1990 and 1998 clearly show that downsizing negatively affects the companies’ stock prices following the news and in the longer period after the announcement. Interestingly, even though the key objective for downsizing typically is cost-cutting and optimization, not all companies achieve reliable results in this field. On the contrary, as a result, companies face the risk of losing valuable employees, may need to rehire some of them at a later stage and is likely to deal with a fall in customer service quality, productivity, and innovation due to demoralized workforce. The bottom line is that companies don’t fire employees if they are expecting a high growth period ahead. It is true whether we speak about one particular company or the market in general. Investors should pay attention to employee retention activities, reasons for necessary downsizing, and how the company expects to handle any negative consequences. Based on current market trends, it is safe to say that further downsizing will continue as we officially enter a recession in 2023. Good to watch ETFs Read the full Yearly Outlook 2023 by Conotoxia here!

At the close of the New York Stock Exchange, the Dow Jones was down 0.11%, the S&P 500 was up 1.47% and the NASDAQ Composite was up 3.25%. Dow Jones  The leading performer among the Dow Jones index components in today's trading was Microsoft Corporation, which gained 11.85 points or 4.69% to close at 264.60. Quotes of 3M Company rose by 4.43 points (3.82%), closing the trades at the level of 120.29. Intel Corporation rose 1.12 points or 3.85% to close at 30.19. The least gainers were UnitedHealth Group Incorporated, which shed 26.17 points or 5.27% to end the session at 470.83. Merck & Company Inc rose 3.29% or 3.52 points to close at 103.46, while Boeing Co was down 2.52% or 5.41 points to close at 209. ,34. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Align Technology Inc, which rose 27.38% to 359.88, Meta Platforms Inc, which gained 23.28% to close at 188.77, and also shares of WW Grainger Inc, which rose 12.96% to end the session at 675.57. The least gainers were Air Products and Chemicals Inc, which shed 7.11% to close at 295.50. Shares of Schlumberger NV lost 6.12% to end the session at 52.29. Quotes of Aflac Inc decreased in price by 5.98% to 68.90. NASDAQ  Leading gainers among the components of the NASDAQ Composite in today's trading were Gaucho Group Holdings Inc, which rose 339.02% to hit 5.40, Biophytis, which gained 73.13% to close at 0.71, and shares of Innovative Eyewear Inc, which rose 58.17% to end the session at 2.42. Shares of Versus Systems Inc became the leaders of the fall, which decreased in price by 41.60%, closing at 0.97. Shares of Motorsport Gaming Us LLC shed 37.95% to end the session at 22.96. Quotes of VivoPower International PLC decreased in price by 35.66% to 0.64. Numbers On the New York Stock Exchange, the number of securities that rose in price (2101) exceeded the number of those that closed in the red (957), while quotes of 92 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,703 companies rose in price, 979 fell, and 193 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 4.81% to 18.73. Gold Gold futures for April delivery lost 0.85%, or 16.55, to hit $1.00 a troy ounce. In other commodities, WTI crude for March delivery fell 0.72%, or 0.55, to $75.86 a barrel. Brent oil futures for April delivery fell 0.91%, or 0.75, to $82.09 a barrel. Forex Meanwhile, in the Forex market, EUR/USD fell 0.68% to hit 1.09, while USD/JPY shed 0.21% to hit 128.66. Futures on the USD index rose 0.49% to 101.53.   Relevance up to 04:00 2023-02-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/311260

Atlanta Federal Reserve Bank (FRB) President Rafael Bostic (he does not have a vote on the Federal Open Market Committee this year) believes the Fed may have to raise its benchmark interest rate higher than previously expected as strong data on the US labor market showed that economic activity in the US is slowing down slightly. Bostic said they would have to do a bit more work, and the Fed would have to raise rates higher than forecasts indicate. The US trade deficit in December 2022 increased by 10.5% to $67.4 billion, the country's Department of Commerce said. According to the revised data, in November, the negative trade balance amounted to $61 billion, and not $61.5 billion, as previously reported. The rate was the lowest since September 2020. Experts, on average, expected growth to $68.5 billion from the previously announced November level. By 17:57 GMT+3, the Dow Jones Industrial Average fell by 101.03 points (0.3%) to 33,789.99 points. The Standard & Poor's 500 fell 8.33 points (0.2%) to 4102.75 points. The Nasdaq Composite lost 7.09 points (0.06%) to 11,880.36 points. Aramark shares are down 11.3%. The U.S. company, which supplies food and special clothing to employees of hotels, universities, hospitals and stadiums, increased its net profit and revenue in the first quarter of fiscal year 2023, with revenue growth exceeding market expectations. Shares of Pinterest Inc. are down 5.8%. Internet service visual bookmarks in the fourth quarter received a net profit and revenue worse than expected. Comcast Corp. shares are down 0.2%. The largest U.S. Internet and cable TV provider continued to cut its stake in Internet news company BuzzFeed Inc. Comcast sold 5.1 million BuzzFeed securities between Feb. 2 and Feb. 6, the media company said in a report. It previously reported that it sold more than 5.7 million shares of BuzzFeed in several transactions between Jan. 30 and Feb. 1. Shares of Bed Bath & Beyond Inc. fall by 41.6% after taking off by 92% in previous trading. The American retailer managed to enlist the support of investors, which allowed it to avoid declaring bankruptcy, Bloomberg reports citing informed sources. Papers Centene Corp. down 1.8%. The health insurance and maintenance company ended the fourth quarter with a net loss, but improved its full-year revenue guidance. Share price of DuPont de Nemours Inc. grows by 6.7%. The American chemical company reported a decline in net profit and revenue in the fourth quarter of 2022, although adjusted profit and revenue beat market expectations. Papers Boeing Co. rise in price by 1%. The American airline company is preparing to cut jobs in the financial department and the personnel management service in 2023. It is expected that the cuts will amount to about 2 thousand jobs, mainly in the field of finance and HR.   Relevance up to 04:00 2023-02-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/311785

As of 20:05 GMT+3, the Dow Jones Industrial Average was down 58.20 points, or 0.17%, to 34,098.49 points, the S&P 500 lost 21.61 points, or 0.52%, to 4142. 39 points, and the Nasdaq Composite - 109.91 points, or 0.91%, to 12,003.88 points. eBay shares are down 0.6% in trading. The day before, the world's largest online auction announced its intention to reduce the global staff by about 4%, laying off about 500 people. Capri Holdings Ltd., which owns fashion brands Michael Kors, Jimmy Choo and Versace, plunged 24% amid weak quarterly earnings and company guidance. US restaurant chain Chipotle Mexican Grill was down 4%. The company increased net profit in the 4th quarter of 2022 by 1.7 times, however, adjusted profit and revenue fell short of analysts' expectations. Uber Technologies rose 2.5%. The taxi and food delivery service company saw a nearly 1.5x increase in revenue in the 4th quarter of 2022 thanks to an increase in orders. Uber's first-quarter guidance beat market expectations. The price of Coty Inc. papers. fell by 3.5%. The cosmetics and perfumery manufacturer's net profit in the 2nd financial quarter grew by 22%, the company's revenue decreased by 3.5%, but exceeded market expectations. In addition, Coty has improved its FY2023 adjusted earnings guidance. CVS Health Corp. share price increased by 4%. The pharmacy chain operator's fourth-quarter revenue rose 9.5% to $83.85 billion, well above the market's consensus forecast of $76.32 billion. CVS also announced the purchase of Oak Street Health Inc., which operates a network of primary care centers for Medicare users, for $10.6 billion. Oak Street rose 4.1%. Fed chief Jerome Powell, who attended an Economic Club of Washington event the day before, said he expects a significant slowdown in US inflation in 2023. At the same time, he noted that the continued stability of the US labor market may serve as a basis for further rate hikes by the Fed. At the same time, Powell said that it is necessary to continue raising rates, and it will also be necessary to maintain a restrictive policy for some time. Saxo Bank A/S Head of Equity Strategies Peter Garnry noted that due to the slowdown in commodity inflation, the growth in consumer prices in the service sector is more stable. This factor may contribute to a longer-than-expected inflation. Wednesday is scheduled to feature New York Federal Reserve Bank (FRB) Governor John Williams, Fed Board members Lisa Cook and Christopher Waller, Fed Vice Chair Michael Barr, and Atlanta and Minneapolis Fed leaders Rafael Bostic and Neil Kashkari. Traders are also evaluating the statement of US President Joe Biden, who proposed to increase by 4 times - up to 4% tax on the repurchase of shares by companies. This, according to Biden, should push the business to increase investment in further development.      Relevance up to 04:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/311991

At the same time, traders note that the market has recently been trading within fairly narrow boundaries. So, this month the S&P 500 did not rise above 4200 points and did not fall below 4000 points, according to MarketWatch. Saxo Bank's head of equity strategy Peter Garnry suggested that the market is moving into a tighter range in anticipation of new information from which it will be possible to decide whether to continue the uptrend or turn down. The number of Americans who applied for unemployment benefits for the first time increased by 13,000 last week to 196,000, according to a report from the US Department of Labor. Analysts polled by Bloomberg predicted an average increase in the number of applications to 190,000. Dow Jones Industrial Average by 18:00 GMT + 3 increased by 0.65% and amounted to 34169.97 points. Leading gainers among the index components include Walt Disney, as well as Salesforce Inc., which rose 2.9%, Microsoft Corp. - by 1.8% and Intel Corp. - by 1.3%. The value of the Standard & Poor's 500 by this time increased by 0.6% - up to 4144.06 points. The Nasdaq Composite index has risen 0.9% since the market opened and reached 12021.51 points. Read next: Credit Suisse Reported Its Biggest Annual Loss Since The 2008, Ukrainian President Is Asking For Help And More Weapons In Brussels| FXMAG.COM   Walt Disney Co. share price increased by 4.5% in early trading. The world's largest entertainment and media company increased its net profit and revenue in the first quarter (October-December), largely due to strong performance in the amusement parks segment. The head of the company, Bob Iger, announced a reorganization of the business, which includes cutting costs by $5.5 billion a year and laying off about 7,000 people. He also promised to resume at the end of this year the payment of dividends suspended during the coronavirus pandemic. PepsiCo Inc. increased revenue in October-December by 10.9%, increased dividends by 10%. Shares of one of the world's largest producers of soft drinks are growing by 1.7%. Hilton Worldwide Holdings rose 2.5%. The hotel chain more than doubled its fourth-quarter net income, with its adjusted figure and revenue beating analysts' expectations. Cost of Kellogg Co. rises by 1.2%. The breakfast cereal and snack maker posted a net loss in the fourth quarter, but it was driven by write-downs related to the company's spin-off plan. At the same time, profit excluding one-time factors exceeded the forecasts of experts.     search   g_translate       Relevance up to 04:00 2023-02-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/312167

Technology companies are the leaders of the fall on Friday, which is due to disappointing reports for investors. US consumer price data will be released on Tuesday. Analysts believe that annual inflation in the country slowed down to 6.2% in January from 6.5% a month earlier. On Friday, the US macro statistics were also published. Thus, the consumer sentiment index of the University of Michigan, which reflects the degree of household confidence in the US economy, according to preliminary estimates, increased to 66.4 points in February from 64.9 points in January, while an increase to 65 points was predicted. Dow Jones Industrial Average by 17:47 GMT +3 decreased by 0.16% and amounted to 32645.72 points. Leading losses among the components of the index included Salesforce Inc., down 3.9%, Walt Disney Co. down 1.6% and JPMorgan Chase & Co. - by 1.1%. The value of the Standard & Poor's 500 from the opening of the market fell by 0.27% - to 4070.35 points. The Nasdaq Composite fell 0.7% to 11,706.76. Taxi booking service Lyft Inc. in October-December received record revenue for the second quarter in a row, but the company's forecast fell short of expectations. The share price at the beginning of trading collapsed by more than 35%. Read next: UK Economy Suggest That Inflation Will Drop| FXMAG.COM Expedia Group's value is down 6.2%. Online travel holding in the fourth quarter reduced its net profit by 2.3 times, while the adjusted figure, as well as revenue fell short of analysts' expectations. Shares of Newell Brands lose 5.8%. The consumer goods maker posted a net loss in October-December and reduced revenue, as well as a weak outlook for the current quarter. Share price of Apple Inc. drops 0.7%, Intel Corp. - by 0.9%, Microsoft Corp. - by 0.8%, Tesla - by 2.7%, Boeing Co. - by 0.2%. At the same time, PayPal Holdings rose 3.5%. The payment system increased its net profit in the fourth quarter by 15%, revenue - by 7%. In addition, the company announced that its chief executive officer, Dan Schulman, intends to leave his post on December 31, 2023. However, he will remain on the board of directors of PayPal. Yelp Inc. online review service. reduced net income by 13% in the last quarter, while revenue grew by a similar amount and exceeded forecasts. Quotes of the company's shares jumped by 7.4%.   Relevance up to 03:00 2023-02-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/312325

Traders are evaluating consumer price statistics that were released prior to the opening of trading. Thus, annual inflation in January slowed down to 6.4% from 6.5% a month earlier. Analysts had forecast the figure at 6.2%. On a monthly basis, consumer prices rose 0.5% in January. Dow Jones At the close in the New York Stock Exchange, the Dow Jones fell 0.46%, the S&P 500 index fell 0.03%, the NASDAQ Composite index rose 0.57%. The leading gainer among the Dow Jones index components today was Boeing Co, which gained 2.80 points or 1.30% to close at 218.45. Nike Inc rose 1.05 points (0.84%) to close at 126.20. Chevron Corp rose 1.31 points or 0.77% to close at 172.32. The least gainers were The Travelers Companies Inc, which shed 3.47 points or 1.85% to end the session at 184.13. Coca-Cola Co rose 1.67% or 1.01 points to close at 59.59, while Home Depot Inc shed 1.58% or 5.10 points to close at 318.43. S&P 500  Leading gainers among the S&P 500 index components in today's trading were IPG Photonics Corporation, which rose 11.56% to 125.55, Tesla Inc, which gained 7.51% to close at 209.25, and shares of Aptiv PLC, which rose 7.37% to end the session at 121.10. Leidos Holdings Inc were the least gainers, shedding 5.42% to close at 95.25. Shares of Marsh & McLennan Companies Inc shed 4.02% to end the session at 167.00. Arthur J Gallagher & Co lost 3.57% to 188.25. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Amesite Operating Co, which rose 81.62% to hit 0.51, Boxlight Corp Class A, which gained 39.47% to close at 0.56. as well as shares of United Insurance Holdings Corp, which rose 37.27% to close the session at 1.51. Top Ships Inc was the least gainer, shedding 44.85% to close at 0.91. Shares of Mobiquity Technologies Inc lost 32.77% and ended the session at 0.35. Quotes Pathfinder Acquisition Corp fell in price by 31.61% to 4.24. Numbers On the New York Stock Exchange, the number of depreciated securities (1581) exceeded the number of closed in positive territory (1446), while quotes of 111 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,952 stocks fell, 1,691 rose, and 217 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 7.03% to 18.91. Gold Gold futures for April delivery added 0.11%, or 2.05, to $1.00 a troy ounce. In other commodities, WTI crude for March delivery fell 1.27%, or 1.02, to $79.12 a barrel. Brent oil futures for April delivery fell 1.14%, or 0.99, to $85.62 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.16% to 1.07, while USD/JPY rose 0.49% to hit 133.05. Futures on the USD index fell 0.10% to 103.14.   Relevance up to 16:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335111

At the close on the New York Stock Exchange, the Dow Jones rose 0.39%, the S&P 500 index fell 0.28%, and the NASDAQ Composite index fell 0.58%.  Dow Jones Merck & Company Inc was the top gainer among the components of the Dow Jones in today's trading, up 3.01 points (2.83%) to close at 109.52. Amgen Inc rose 6.31 points or 2.69% to close at 240.53. UnitedHealth Group Incorporated rose 11.73 points or 2.41% to close at 499.08. The least gainers were shares of Chevron Corp, which lost 3.72 points or 2.23% to end the session at 162.85. Intel Corporation was up 2.09% or 0.59 points to close at 27.61, while Salesforce Inc was down 1.75% or 2.94 points to close at 165.17.  S&P 500 Leading gainers among the S&P 500 index components in today's trading were Deere & Company, which rose 7.53% to 433.31, Bio-Rad Laboratories Inc, which gained 5.99% to close at 483.23 , as well as shares of Organon & Co, which rose 4.60% to close the session at 26.02. The least gainers were Albemarle Corp, which shed 9.67% to close at 258.00. Shares of Hess Corporation shed 5.73% to end the session at 135.52. Quotes of Halliburton Company decreased in price by 5.39% to 36.50. NASDAQ The leading gainers among the components of the NASDAQ Composite in today's trading were OKYO Pharma Ltd ADR, which rose 62.96% to 3.74, Pathfinder Acquisition Corp, which gained 46.56% to close at 4.69. as well as shares of Apexigen Inc, which rose 44.21% to close the session at 1.37. The least gainers were shares of Arqit Quantum Inc, which shed 42.09% to close at 1.47. Shares of Universal Electronics Inc lost 33.01% and ended the session at 16.38. Quotes Mountain Crest Acquisition Corp III fell in price by 32.72% to 4.97. Numbers On the New York Stock Exchange, the number of securities that fell in price (1689) exceeded the number of those that closed in positive territory (1288), while quotes of 111 shares remained virtually unchanged. On the NASDAQ stock exchange, 1914 companies rose in price, 1686 fell, and 217 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.74% to 20.02. Gold Gold futures for April delivery added 0.00%, or 0.05, to $1.00 a troy ounce. In other commodities, WTI crude for March delivery fell 2.75%, or 2.16, to $76.33 a barrel. Brent oil futures for April delivery fell 2.55%, or 2.17, to $82.97 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.25% to 1.07, while USD/JPY rose 0.18% to hit 134.18. Futures on the USD index rose 0.01% to 103.81.   Relevance up to 03:00 2023-02-21 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313259

Experts note that against the backdrop of the latest macroeconomic statistics for the country, in particular on the labor market and inflation, traders rejected the expectations of the Fed's policy easing, which have recently contributed to the rally in the markets. The next meeting of the US Federal Reserve will be held on March 21-22. According to CME Group, 76% of analysts expect the regulator to raise the discount rate by 25 basis points, to 4.75-5%. It also follows from these data that the proportion of those who expect a 50 basis point increase has recently increased. At the close in the New York Stock Exchange, the Dow Jones fell 2.06% to a one-month low, the S&P 500 fell 2.00%, and the NASDAQ Composite fell 2.50%. Dow Jones Walmart Inc was the top performer among the components of the Dow Jones index today, up 0.89 points (0.61%) to close at 147.33. Procter & Gamble Company fell 0.10 points or 0.07% to close at 139.91. The Travelers Companies Inc shed 0.50 points or 0.27% to close at 185.25. The least gainers were Home Depot Inc, which shed 22.45 points or 7.06% to end the session at 295.50. Intel Corporation was up 5.61% or 1.55 points to close at 26.06, while 3M Company was down 3.31% or 3.74 points to close at 109.25 . S&P 500  The leading gainers among the S&P 500 index components in today's trading were General Mills Inc, which rose 4.42% to 80.16, Organon & Co, which gained 3.94% to close at 27.05, and also shares of Molson Coors Brewing Co Class B, which rose 3.13% to end the session at 53.65. The least gainers were Generac Holdings Inc, which shed 8.72% to close at 115.72. Shares of DISH Network Corporation shed 8.62% to end the session at 12.93. Home Depot Inc lost 7.06% to 295.50. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Atlas Lithium Corp, which rose 51.52% to hit 10.94, Meihua International Medical Technologies Co Ltd, which gained 49.94% to close at 39. 00, as well as Arbe Robotics Ltd, which rose 47.13% to end the session at 6.40. The least gainers were CVRx Inc, which shed 58.84% to close at 7.08. Shares of Aileron Therapeutics Inc lost 37.77% to end the session at 1.46. Quotes of TC BioPharm Holdings PLC decreased in price by 32.62% to 5.02. Numbers On the New York Stock Exchange, the number of securities that fell in price (2689) exceeded the number of those that closed in positive territory (382), while quotes of 57 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,017 companies fell in price, 697 rose, and 149 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 7.72% to 22.87, hitting a new monthly high. Gold Gold futures for April delivery lost 0.35%, or 6.45, to hit $1.00 a troy ounce. In other commodities, WTI April futures fell 0.50%, or 0.38, to $76.17 a barrel. Brent crude for April delivery fell 1.47%, or 1.24, to $82.83 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged at 0.34% to 1.06, while USD/JPY advanced 0.56% to hit 134.99. Futures on the USD index rose 0.34% to 104.14.   Relevance up to 03:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313561

Earlier on Friday, it became known that the income of the US population in January rose by 0.6% compared to December, while consumer spending increased by 1.8% in monthly terms. At the same time, analysts had expected revenue growth of 1% and cost growth of 1.3%. The University of Michigan Consumer Sentiment Index was also released, reflecting the degree of household confidence in the US economy. Thus, the University of Michigan (Michigan Consumer Sentiment Index), the index in February increased to 67 points from 64.9 points in January, with an initial estimate of 66.4 points. At the close on the New York Stock Exchange, the Dow Jones fell 1.02% to a one-month low, the S&P 500 index fell 1.05%, and the NASDAQ Composite index fell 1.69%. Dow Jones Dow Inc was the top gainer among the components of the Dow Jones in today's trading, up 0.60 points (1.05%) to close at 57.79. JPMorgan Chase & Co rose 0.90% or 1.26 points to close at 140.93. Verizon Communications Inc rose 0.21 points or 0.55% to close at 38.74. The least gainers were Boeing Co, which shed 9.98 points or 4.80% to end the session at 198.15. Microsoft Corporation was up 2.18% or 5.55 points to close at 249.22, while Intel Corporation was down 1.84% or 0.47 points to close at 25.14.  S&P 500 Leading gainers among the S&P 500 index components in today's trading were Linde PLC, which rose 4.75% to 347.64, Edison International, which gained 4.21% to close at 68.63, and Coterra Energy Inc, which rose 3.61% to end the session at 25.56. The biggest gainer was Autodesk Inc, which shed 12.95% to close at 192.53. Shares of Live Nation Entertainment Inc shed 10.08% to end the session at 68.78. Quotes of Adobe Systems Incorporated decreased in price by 7.63% to 320.54.  NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Bridger Aerospace Group Holdings Inc, which rose 78.73% to hit 7.90, Cyren Ltd, which gained 61.90% to close at 0.34. as well as Connexa Sports Technologies Inc, which rose 49.43% to end the session at 0.21. The least gainers were Fulcrum Therapeutics Inc, which shed 56.09% to close at 5.66. Shares of Sellas Life Sciences Group Inc lost 53.66% to end the session at 1.71. Quotes of ObsEva SA decreased in price by 50.77% to 0.08. Numbers On the New York Stock Exchange, the number of securities that fell in price (2,150) exceeded the number of those that closed in positive territory (867), while quotes of 88 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,731 stocks fell, 914 rose, and 169 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.51% to 21.67. Gold Gold futures for April delivery shed 0.47%, or 8.55, to hit $1.00 a troy ounce. In other commodities, WTI crude for April delivery rose 1.53%, or 1.15, to $76.54 a barrel. Brent futures for April delivery rose 1.34%, or 1.10, to $83.31 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.43% to 1.05, while USD/JPY rose 1.28% to hit 136.43. Futures on the USD index rose 0.61% to 105.17.     Relevance up to 03:00 2023-02-28 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314036

At the close of the New York Stock Exchange, the Dow Jones rose 0.22%, the S&P 500 gained 0.31% and the NASDAQ Composite rose 0.63%. Investors remain wary of more hawkish action from the US Fed amid high inflation, which recent data showed is slowing down at a slower-than-expected pace. Dow Jones Caterpillar Inc was the top performer among the components of the Dow Jones index today, up 3.81 points or 1.61% to close at 239.98. Quotes of Boeing Co rose by 2.31 points (1.17%), ending trading at 200.46. JPMorgan Chase & Co rose 1.23 points or 0.87% to close at 142.16. The least gainers were Walgreens Boots Alliance Inc, which shed 0.41 points or 1.15% to end the session at 35.39. Intel Corporation was up 0.95% or 0.24 points to close at 24.90, while Walmart Inc was down 0.72% or 1.03 points to close at 141.44.  S&P 500  Leading gainers among the S&P 500 index components in today's trading were Union Pacific Corporation, which rose 10.09% to 212.17, Enphase Energy Inc, which gained 5.94% to close at 210.78, and also shares of SolarEdge Technologies Inc, which rose 5.89% to end the session at 313.63. The least gainers were DISH Network Corporation, which shed 8.06% to close at 12.20. Shares of Lumen Technologies Inc shed 4.49% to end the session at 3.40. Quotes of Charles Schwab Corp fell in price by 3.37% to 77.88. NASDAQ  Leading gainers among the components of the NASDAQ Composite in today's trading were Lucira Health Inc, which rose 264.29% to hit 0.51, ContraFect Corp, which gained 52.90% to close at 4.74, and shares of Blackboxstocks Inc, which rose 47.27% to end the session at 0.81. The least gainers were Mount Rainier Acquisition Corp, which shed 46.22% to close at 5.05. Shares of Smith Micro Software Inc lost 36.40% to end the session at 1.59. Quotes of Apexigen Inc decreased in price by 33.22% to 0.87. Numbers On the New York Stock Exchange, the number of securities that rose in price (1813) exceeded the number of those that closed in the red (1217), and quotes of 95 shares remained practically unchanged. On the NASDAQ stock exchange, 2042 companies rose in price, 1656 fell, and 197 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.32% to 20.95. Gold Gold futures for April delivery added 0.39%, or 7.05, to hit $1.00 a troy ounce. In other commodities, WTI April futures fell 0.72%, or 0.55, to $75.77 a barrel. Futures for Brent crude for May delivery fell 0.86%, or 0.71, to $82.11 a barrel. Forex Meanwhile, on the Forex market, EUR/USD rose 0.59% to hit 1.06, while USD/JPY shed 0.17% to hit 136.23. Futures on the USD index fell 0.52% to 104.61   Relevance up to 03:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314214

As we come to the end of what looks set to be another positive month for European equities the question being posed is how much further can this year's rally take us, with the DAX currently up over 10.5% year to date, and the FTSE100 up almost 6.5%? US markets on the other hand could well finish the month lower, their recent progress starting to get stunted by the prospect of several more rate rises from the Federal Reserve after recent US economic data surprised to the upside. While the S&P500 is only up 3.6% year to date the Nasdaq 100 is higher by over 10%, while the Dow is flat. After the US-inspired declines at the end of last week, European markets saw a fairly decent start to the new week yesterday, buoyed by some resilient earnings numbers as well as a series of broker upgrades helping to support early gains. US markets also started the week positively, however the positive momentum soon gave way to caution as they closed well off their highs of the day, even as US 2-year yields pared back some of their recent gains, having set another new multiyear high at 4.85%, before slipping back. Asia markets have seen a rather quiet and mixed session and markets here in Europe look set to open modestly higher. The resilience in inflation remains the key worry for investors now after last week's hotter-than-expected US inflation numbers. Attention now turns to Europe this week, starting with France later this morning as we get an early sighter of flash CPI for February, which is expected to come in higher. Monthly CPI is expected to rise by 1% with year-on-year set to remain steady at 7%, with the French economy set to be confirmed as growing by 0.1% in Q4. Read next: Pfizer Is In The Early Stages Of An Acquisition Of Biotech Company Seagen, Twitter's Staff Has Shrunk Since Elon Musk Took Over| FXMAG.COM Tomorrow we'll get the Germany flash CPI, which will then be followed by EU flash CPI on Thursday. We already know that the ECB intends to hike by 50bps in March, they've already pre-committed to it on multiple occasions, but what comes after that remains cloaked in uncertainty. In the US we get the latest consumer confidence numbers for February, and which are expected to show an improvement from January, coming in at 108.5, up from 107.1. The latest Chicago PMI is also expected to improve from 44.3 to 45.7. The US dollar also slipped back, helping to support yesterday's modest rebound in equity markets, sliding back from 7-week highs, with the pound being one of the main beneficiaries of yesterday's weakness rebounding from a key technical support area, with a bout of short-covering. Optimism over the UK economy also helped after it was announced that a long-running trade sore could well be confined to the history books, with agreement on the fractious Irish border issue. All the focus will now be on the DUP to see whether the new arrangements pass muster with them.  Later this afternoon we have comment from Bank of England officials, John Cunliffe, Chief Economist Huw Pill and external MPC policymaker Catherine Mann, who has become even more hawkish given current trends around increasingly sticky inflation. EUR/USD – found some modest support at the 1.0530 area, but while below the 1.0620/30 area the bias remains for a move test of the January lows at 1.0480/85, with the 200-day SMA at 1.0320 below that. GBP/USD – found support once again at the 200-day SMA at 1.1920/30 yesterday. A break of 1.1900 retargets the 1.1830 area. Resistance currently at the 50-day SMA at 1.2150. EUR/GBP – ran into resistance at the 0.8830/40 area and has since slipped back. Support comes in at the 0.8780 area a break of which opens up the 0.8720 level. USD/JPY – running into resistance just below the 200-day SMA and Kumo cloud resistance area at 136.90/00. Interim support at 133.60, and below that at 132.60, and 50-day SMA.   FTSE100 is expected to open unchanged at 7,935 DAX is expected to open 18 points higher at 15,399 CAC40 is expected to open 4 points higher at 7,299

The main reason for the pessimism of investors is the risks associated with the future actions of the global central banks. Against the backdrop of the persistent high inflation, traders are waiting for toughening the monetary policy of regulators and further raising rates. Traiders also evaluate statistics on the country on Wednesday. The USA Manuapacturn Industry Index in February increased to 47.7% from the January 47.4%. The indicator was predicted at 48%. At the time of closing on the New York Stock Exchange, Dow Jones rose 0.02%, the S&P 500 index dropped by 0.47%, the NASDAQ Composite index fell by 0.66%. Dow Jones The leaders among Dow Jones index components in today's trading were Caterpillar Inc. shares, which gained 9.12p (3.81%) to close at 248.67. 3M Company gained 2.47p (2.29%) to close at 110.21. Salesforce Inc. gained 3.74p (2.29%) to close at 167.35. The least gainers were the Home Depot Inc shares, the price of which fell by 5.75 p. (1.94%), completing the session at the mark of 290.79. Apple Inc shares rose 2.10 p. (1.42%), closed at 145.31, and Walmart Inc decreased in price by 1.98 p. (1.39%) and completed the auction at the mark of 140.15 . S&P 500  The leaders in growth among components of the S&P 500 index in today's trading were shares of Valero Energy Corporation, which gained 5.74% to 139.29, Freeport-McMoran Copper & Gold Inc, which gained 4.95% to close at 43.00, and shares of Phillips 66, which gained 4.56% to close the session at 107.24. The least gainers were the Lowe's Companies Inc shares, which decreased in price by 5.56%, closing at the mark of 194.31. Lumen Technologies Inc shares lost 5.00% and completed the session at 3.23. The Alexandria Real Estate Equites Inc quotes decreased in price by 4.59% to the mark of 142.91. Nasdaq In the growth leaders, among the components of the Nasdaq Composite index, according to the results of today's trading, there were Arcadia Biosciences Inc shares, which went up 1.00% to 8.60, Reata Pharmaceuticals Inc, which scored 198.91%, closing at 93.17, and Also, the Cardio Diagnostics Holdings Inc shares, which increased by 91.30%, completing the session at 6.60. The least gainers became the Performance Shipping Inc shares, which decreased in price by 56.88%, closed at 1.16. The shares of China Jo-Jo Drugstores Inc lost 47.45% and completed the session at the level of 3.92. Xometry Inc quotes decreased in price by 39.49% to 18.40. Numbers On the New York Stock Exchange, the number of cheaper papers (1634) exceeded the number of closed in the plus (1395), and the quotes of 111 shares practically did not change. On the NASDAQ Stock Exchange, 2055 companies fell in price, 1578 grew, and 188 remained at the level of the previous closure. The CBOE VOLATILITY INDEX volatility index, which is formed on the basis of options for the Office Trade on S&P 500, fell by 0.58% to the mark of 20.58. Gold Futures for gold futures with a supply in April added 0.43%, or 7.85, reaching $ 1.00 for a troika ounce. As for other goods, the prices for WTI oil futures with delivery in April rose 0.83%, or 0.64, to $ 77.69 per barrel. Futures for Brent oil futures with delivery in May rose by 1.09%, or 0.91, to the mark of $ 84.36 per barrel. Forex Meanwhile, on the Forex Forex EUR/USD market, 0.86% to 1.07 increased, and USD/JPY quotes fell by 0.02%, reaching 136.18. Futures on the USD index sank by 0.44% to 104.36.   Relevance up to 03:00 2023-03-03 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314593

Summary:  Major US Indices forming bottom and reversal patterns indicating a strong rebound.In this analysis: S&P 500/US500, Nasdaq 100/USNAS100 & Dow Jones Industrial/US30 S&P 500 opened below yesterday the 200 daily Moving Average dipping down to touch the 0.618 retracement at 3,929 to close above key support at 3,949 forming a Bullish Engulfing candle which is a strong indication of a bottom and reversal.RSI is still above 40 meaning it is still in a positive sentiment with no divergence from the February peak. S&P 500 seems set for a rebound and if the Index closes above 4,030 the uptrend is likely to resume.A first indication of this scenario to play out could be if RSI closes above its falling trendline.If S&P 500 closes below Thursday low and RSI closes below 40 S&P 500 has demolished the bottom and reversal picture and would be in a confirmed bear trend. Source all charts and data: Saxo Group US 500 cfd bounced from the 100 daily Moving Average and the 0.618 Fibonacci retracement to close above 200 daily Moving Average to close back above key support at 3,947.50. RSI still in positive sentiment. If US500 moves back above 4,027 it is likely to resume uptrend.A close below yesterday’s low at 3,919 the rebound picture is demolished and US 500 is likely to drop lower towards 3,800. Nasdaq 100 Buyers in control throughout yesterday’s session lifting the Index back above 200 daily Moving Average and key support at 11,906 forming a Bullish Engulfing candle.RSI is still above 40 meaning it is still in a positive sentiment with no divergence from the February peak. If Nasdaq 100 closes above 12,385 and above the 21 daily Moving Average the uptrend has resumed.A first indication of this scenario to play out could be if RSI closes above its falling trendline.A close below 11,830 i.e., yesterday’s low is likely to lead to a sell-off down to around the 0.618 retracement at 11,515 possibly down to support at around 11,259.   USNAS100 Double Top pattern potential is still unfolding. After the break below 12,213 there is down side potential to around the 0.618 retracement at 11,518 as illustrated by the two vertical arrows. However, USNAS100 has found support at the 200 daily Moving Average and after its strong rebound yesterday the bearish picture could be reversed. If USNAS100 closes back above 12,234 and above the 21 daily Moving Average the Double top pattern is demolished and uptrend is likely to resume with potential to February peak level. Dow Jones Industrial has formed a Morning Doji Star bottom and reversal pattern (circled) bouncing from the support at around 32,573. Despite RSI being negative the Index could experience a nice rebound to around the 55 daily Moving Average but room up to resistance at around 34,342-34,712.If Dow Jones closes below 32,500 down trend is set to resume US30 cfd has bounced from support at around 32,472 and seems set for a rebound to the upper range in the side ways range US30 has been trading in since November. A break below 32,470 is likely to push US30 down to 31,715, possibly lower   Source: Technical Update - US Stock Indices set for a rebound: S&P500, Nasdaq & Dow Jones | Saxo Group (home.saxo)

At the close of the New York Stock Exchange, the Dow Jones rose 0.12%, the S&P 500 rose 0.07%, and the NASDAQ Composite fell 0.11%. Markets are also awaiting information from the US labor market, which will be published on Friday. According to market strategist at Nikko Asset Management John Weil, the data for February may turn out to be worse than in January, and this will calm investors a bit in their fears of too sharp tightening of monetary policy. Dow Jones Merck & Company Inc was the top performer among the components of the Dow Jones index today, up 4.22 points or 3.95% to close at 111.10. Apple Inc rose 2.80 points or 1.85% to close at 153.83. Coca-Cola Co rose 0.92 points or 1.55% to close at 60.36. Shares of Dow Inc became the leaders of the fall, the price of which fell by 1.21 points (2.07%), ending the session at 57.11. Walgreens Boots Alliance Inc was up 1.77% or 0.64 points to close at 35.45, while Intel Corporation was down 1.55% or 0.41 points to close at 25.99 S&P 500 Leading gainers among the components of the S&P 500 in today's trading were Lumen Technologies Inc, which rose 4.10% to 3.30, Merck & Company Inc, which gained 3.95% to close at 111.10. as well as Enphase Energy Inc, which rose 3.77% to end the session at 225.35. DexCom Inc was the leading gainer, shedding 7.87% to close at 113.25. Shares of Newell Brands Inc shed 7.23% to end the session at 13.48. VF Corporation (NYSE:VFC) was down 5.37% to 24.85. NASDAQ The top performers in the NASDAQ Composite Index today were Appreciate Holdings Inc, which rose 152.89% to hit 3.06, Unicycive Therapeutics Inc, which gained 153.06% to close at 1.24, and also shares of Bellerophon Therapeutics Inc, which rose 94.11% to end the session at 3.51. The leading gainers were Aclaris Therapeutics Inc, which shed 44.68% to close at 7.07. Shares of Rubius Therapeutics Inc shed 33.55% to end the session at 0.08. Quotes of Embark Technology Inc decreased in price by 32.81% to 2.56. Numbers On the New York Stock Exchange, the number of depreciated securities (1981) exceeded the number of closed in positive territory (1051), and quotes of 109 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,420 companies fell in price, 1,237 rose, and 143 remained at the level of the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.65% to 18.61. Gold Gold futures for April delivery lost 0.12%, or 2.15, to hit $1.00 a troy ounce. In other commodities, WTI April futures rose 1.10%, or 0.88, to $80.56 a barrel. Futures for Brent crude for May delivery rose 0.55%, or 0.47, to $86.30 a barrel. Forex Meanwhile, in the Forex market, the EUR/USD pair remained unchanged at 0.44% to 1.07, while USD/JPY edged up 0.06% to hit 135.93. Futures on the USD index fell 0.21% to 104.27.   Relevance up to 03:00 2023-03-08 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315102

At the close of the New York Stock Exchange, the Dow Jones fell 0.18%, the S&P 500 rose 0.14% and the NASDAQ Composite rose 0.40%. Fed chief Jerome Powell said the regulator will continue to raise the discount rate in the fight against inflation. According to CME Group, most analysts now expect the regulator to raise the discount rate immediately by 0.5 percentage points, to 5-5.25% per annum. Dow Jones Shares of Intel Corporation led the way among the components of the Dow Jones index today, which gained 0.45 points (1.76%) to close at 25.98. Quotes of Caterpillar Inc rose by 2.58 points (1.05%), closing the session at 248.72. Home Depot Inc rose 2.88 points or 1.00% to close at 291.49. The least gainers were Merck & Company Inc, which shed 2.99 points or 2.69% to end the session at 108.28. The Travelers Companies Inc (NYSE:TRV) was up 2.60 points or 1.44% to close at 177.77, while Verizon Communications Inc was down 0.38 points or 1.00%. and finished trading at 37.53. S&P 500  Leading gainers among the components of the S&P 500 in today's trading were Advanced Micro Devices Inc, which rose 3.97% to hit 85.37, Arista Networks, which gained 3.90% to close at 148.44, and also shares of NVIDIA Corporation, which rose 3.83% to end the session at 241.81. The least gainers were Norwegian Cruise Line Holdings Ltd, which shed 4.20% to close at 15.29. Shares of Brown Forman lost 4.20% to end the session at 63.48. Regeneron Pharmaceuticals Inc fell 3.70% to 745.20. NASDAQ Leading gainers among the components of the NASDAQ Composite in today's trading were Kimball International Inc, which rose 84.35% to hit 12.37, Castor Maritime Inc, which gained 75.93% to close at 0.95, and also shares of Maxeon Solar Technologies Ltd, which rose 44.00% to close the session at 27.00. The least gainers were SRAX Inc, which shed 62.03% to close at 0.60. Shares of Intelligent Bio Solutions Inc shed 42.66% to end the session at 3.40. Quotes of ETAO International Co Ltd decreased in price by 40.75% to 1.89. Numbers On the New York Stock Exchange, the number of securities that rose in price (1564) exceeded the number of those that closed in the red (1446), while quotes of 111 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,934 stocks fell, 1,682 rose, and 194 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.40% to 19.12. Gold Gold futures for April delivery lost 0.10%, or 1.75, to hit $1.00 a troy ounce. In other commodities, WTI April futures fell 1.37%, or 1.06, to $76.52 a barrel. Brent oil futures for May delivery fell 0.94%, or 0.78, to $82.51 a barrel. Forex Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.01% to 1.05, while USD/JPY rose 0.13% to hit 137.32. Futures on the USD index rose 0.05% to 105.64.   Relevance up to 03:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315420

Dow Jones - Stocks Tumble as Investor buy Bonds and Fear Another Crisis. The Dow Jones did not end the day as the worst-performing Index as it did on Tuesday and Wednesday. This time the NASDAQ declined slightly more than the Dow Jones. However, based on weekly data, the US30 is still experiencing the strongest decline. The Dow Jones has declined for 4 consecutive days and shaved 1.70% from its value during yesterday’s session. SVB Financial Group has been one of the first banking firms to spark concern throughout the market and has seen the stock decline by 60% 2 negative factors mainly influence the stock market. The Federal Reserve raising interest rates and concerns about another banking crisis. SVB Financial Group has been one of the first banking firms to spark concern throughout the market and has seen the stock decline by 60%. The firm has advised that higher interest rates and the poor performance of venture capital to many technology companies have negatively impacted them. The company also launched a $1.75B share sale to raise capital. Dow Jones 8-Hour Chart on March 10th In general, the above-sent shockwaves throughout the stock market, and investor sentiment has significantly declined. Investors will now analyse the NFP figure and whether they point towards more rate hikes. Traders will also continue to monitor technical analysis, which currently points towards a further decline. Though traders will also analyse when the price may become overbought using indicators such as the RSI. Read the first part of the update by NAGA: British pound against US dollar has been influenced by the UK GDP print. Price action can change if NFP print beats expectations | FXMAG.COM Summary of the both parts of the update by NAGA: The US Dollar declines back to support levels as traders wait for this afternoon’s NFP release. The Pound is supported by a higher-than-expected GDP figure which may keep the UK out of a recession in the short term. Global stock markets come under significant pressure due to the fear of another banking crisis. Interest rates and a lower risk appetite continue to pressure stocks as investors buy bonds again.

Throughout the day, investors will be concentrating largely on the Non-Farm Payroll figure and will be preparing for the next weekly inflation data. Altogether, there will be 4 major announcements over the next week. This afternoon investors will be monitoring February Non-Farm Payroll, which is expected to return to previous figures. Economists expect the NFP figure to read 225,000, less than half of the previous month but still considerably high. Some economists believe the Unemployment rate may remain at 3.4%, whereas others lean towards 3.5%. However, the Unemployment rate would need to be significantly higher to lower inflation. Some analysts have stated the Unemployment rate would need to be more than 4% for the employment sector to become “more balanced”. Read the first part of the update by NAGA: Dow Jones has declined for 4 consecutive days and lost 1.7% yesterday| FXMAG.COM Investors should note that next week’s inflation figures will likely strongly influence the US Dollar and Stocks. Therefore, traders need to remember that investors will start to prepare for the inflation figures later in the day. The Consumer Price Index is expected to read 0.4%, which will keep the yearly inflation at a similar rate. Furthermore, investors are expecting the Producer Price Index to show 0.3%. If the employment and inflation data is higher than expected, investors will likely lean towards the Dollar as interest rates will accelerate. GBP/USD - Investors Brace for Non-Farm Payroll Results and Inflation Figures The GBP/USD continues to increase as the US Dollar generally weakens over the past 24 hours. The Pound has also been supported by the latest Gross Domestic Product figures released this morning. Even though the Pound has gained 1.35% since yesterday’s US session, investors still should be cautious of a potential downward trend. The exchange rate has still formed 3 significantly lower highs over the past 2-weeks. When looking at technical analysis, we are still waiting to get a major indication of a longer-term upward trend. However, this is possible if the price maintains momentum and surpasses 1.19628. Nonetheless, the price is currently trading at a resistance level and following a downward trend pattern. Traders await bearish indications from moving averages, crossovers, and price action. GBP/USD 2-Hour Chart on March 10th Global stocks over the past week have tumbled and have lost more than 4% since Tuesday’s Fed testimony. Since the reaction, the market has started buying bonds with a significantly higher yield than in previous years. This indicates that safe-haven assets are coming into play and can also affect the US Dollar. Though the US Dollar will only be able to act as a safe haven asset if interest rates remain competitive. Read next: USD/JPY Is Close To 137.00, EUR/USD Is Below 1.06, GBP/USD Is Trading Below 1.20| FXMAG.COM This morning the GBP/USD has been fueled by the UK GDP figure, which read 0.3% instead of the expected 0.1%. The figure is deemed positive for the Pound as it indicates the UK may be able to avoid a formal recession for the time being. The UK’s GDP figure was significantly higher than the previous month, which read -0.5%. Though traders should note that the price action can change if the NFP figure is higher than expected.

At the close of the New York Stock Exchange, the Dow Jones was down 1.07% to hit a 3-month low, the S&P 500 was down 1.45% and the NASDAQ Composite was down 1.76%. Unemployment in the US rose to 3.6% in February from 3.4% the previous month, while analysts believed that the figure would not change. And the number of people employed in non-agricultural sectors of the economy increased by 311,000, with a projected increase of 205,000. Statistics on the labor market and consumer prices are of great importance for investors, since these are the two main indicators that the US Federal Reserve relies on when determining its further actions in monetary policy. Dow Jones The leading performer among the Dow Jones index components in today's trading was Intel Corporation, which gained 0.78 points or 2.95% to close at 27.22. JPMorgan Chase & Co rose 3.31 points or 2.54% to close at 133.65. The Travelers Companies Inc rose 1.76 points or 1.01% to close at 175.68. The least gainers were Caterpillar Inc shares, which lost 13.95 points or 5.79% to end the session at 227.01. Shares of Goldman Sachs Group Inc climbed 14.42 points or 4.22% to close at 327.67, while American Express Company shed 6.42 points or 3.73% to close at 165.70. S&P 500 Leading gainers among the S&P 500 index components in today's trading were Intel Corporation, which rose 2.95% to hit 27.22, JPMorgan Chase & Co, which gained 2.54% to close at 133.65, and also shares of AbbVie Inc, which rose 1.61% to close the session at 149.72. The least gainers were shares of Signature Bank, which fell 22.87% to close at 70.00. Shares of First Republic Bank lost 14.84% to end the session at 81.76. Charles Schwab Corp fell 11.69% to 58.70. NASDAQ  Leading gainers among the components of the NASDAQ Composite in today's trading were EUDA Health Holdings Ltd, which rose 54.20% to 2.02, Unicycive Therapeutics Inc, which gained 30.10% to close at 2.68. as well as shares of Cingulate Inc, which rose 25.00% to close the session at 1.85. Shares of Loyalty Ventures Inc became the least gainers, which decreased in price by 58.39%, closing at 0.24. Shares of Allbirds Inc lost 47.03% and ended the session at 1.25. Quotes of Cepton Inc decreased in price by 45.75% to 0.42. Numbers On the New York Stock Exchange, the number of securities that fell in price (2594) exceeded the number of those that closed in positive territory (463), while quotes of 75 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,044 stocks fell, 595 rose, and 150 remained at the previous close. The CBOE Volatility Index, which is based on S&P 500 options trading, rose 9.69% to 24.80, hitting a new monthly high. Gold Gold futures for April delivery added 2.08%, or 38.15, to $1.00 a troy ounce. In other commodities, WTI April futures rose 1.03%, or 0.78, to $76.50 a barrel. Futures for Brent crude for May delivery rose 1.21%, or 0.99, to $82.58 a barrel. Forex Meanwhile, in the Forex market, EUR/USD rose 0.57% to hit 1.06, while USD/JPY shed 0.91% to hit 134.90. Futures on the USD index fell 0.67% to 104.60.   Relevance up to 03:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315761

Summary:  Nasdaq 100 turned bullish and is set for higher levelsS&P 500 still caught in sideways range. Can it break it?Dow Jones and Russell 200 in downtrends bouncing from supports. Strong overhead resistance Today's Saxo Market Call podcast.Today's Market Quick Take from the Saxo Strategy Team Nasdaq 100 Nasdaq 100 closed above short-term falling trendline and more importantly above 12,467 thereby resuming uptrend. RSI back above 60 confirms the bullish mood that has potential to move the Index above February peak and higher. If Nasdaq closes above 12,881 there is no strong resistance until around 13,667 just a few cents above the 1.618 projection of the February correction. For Nasdaq 100 to reverse this bullish picture a close below 11,695 Source all charts and data: Saxo Group USNAS100 cfd levels. Bullish trend. Upside potential to 13,721 if breaking above 12,895. A move back below 12,179 will put the Index into neutral and a close below 11,668 will reverse the trend. Read next: FX Daily: Data dependent or financial stability dependent?| FXMAG.COM S&P 500 S&P 500 has bounced from the 0.786 retracement and back above 200 daily MA. The Index is facing some resistance at the cloud at 3,980 but if S&P 500 closes back above 55 daily MA the falling trendline is to be challenged. A close above the trendline could fuel a rally that is likely to take out 4,079 thus confirming a bullish trend. A close above 4,079 is likely to push RSI back above 60 threshold underlining the uptrend.A close below 3,808 will demolish and reverse this scenario US500 cfd is testing the lower cloud span at 3,980 and the upper falling trendline in a falling channel pattern. A break above and a break above 55 daily Moving Average is likely push US500 towards 4,100. A close above 4,380 could see US500 to challenge the 4,195 with potential to 4,308 A close below 3,808 will confirm the downtrend. Dow Jones Dow Jones Index is in a confirmed downtrend but bouncing from the support at around 31,738. RSI is still showing negative sentiment and the Index is below 200 MA.The current bounce could take Dow Jones above the 200 MA but will face resistance both at the 55 daily MA coming down and the lower Cloud span at 33,642. For Dow Jones to reverse to an uptrend a close above 33,572 is needed.If Dow Jones drops back below 31,429 down trend will continue  with next support at around 30,206. Russell 2000 Russell 2000 small cap Index bounced yesterday strongly from key support at around 1,722 forming a Bullish Engulfing bottom and reversal candle which strongly indicates further bounce is likely. Strong resistance at around 1,825 and at around 1,865.A close below 1,716 is likely to extend the downtrend to support at around 1,653. Source: Technical analysis SP500 Nasdaq100 DowJones Russell2000 | Saxo Group (home.saxo)

After opening the week lower, European stocks recovered early losses to finish the day higher yesterday, as markets tried to absorb the events of the weekend, and the $3bn absorption of Credit Suisse by its bigger Swiss rival UBS. While the deal raises a number of questions with respect to shareholder and bond holder priorities, regulators across the EU assured nervous markets that the Swiss bailout was unique to the two Swiss banks, while investors took the view that recent events would prompt a slowdown in the pace of central bank tightening this week. Even the problems being felt in the US banking system were being shrugged off with further weakness in First Republic Bank being treated as a localised difficulty, rather than anything more systemic. US markets also finished the day strongly, building on the gains that we saw last week with the Dow and S&P500 closing close to the highs of the last few days US markets also finished the day strongly, building on the gains that we saw last week with the Dow and S&P500 closing close to the highs of the last few days. This positive finish has seen Asia markets edge higher and also looks set to translate into a positive European open this morning. With the Federal Reserve rate meeting due to start later today, markets have become increasingly divided as to what the FOMC may well do when it comes to interest rates tomorrow, with opinions split between another 25bps hike, a pause, and a 25bps rate cut. Assuming recent gains hold, and we get no further surprises then the odds still favour a 25bps rate rise, otherwise, the Fed runs the risk that it sends the message it is more concerned about financial stability than it is about its fight against inflation. A rate cut would send an even worse message that the Fed sees something the market doesn't and could spook already jittery markets even further. Against that backdrop today's European open looks set to be a positive one, however, sentiment is likely to remain fragile over the next few days until we see the outcome of tomorrow's Fed meeting, and their take on recent events, while on Thursday we get the latest central bank decisions from the Swiss National Bank and the Bank of England. Read next: It seems that the Credit Suisse deal may turn out to be not that flawless| FXMAG.COM In light of recent events, the actions of the SNB will be particularly notable given they are expected to hike rates by 50bps. If any central bank has a reason to think again about raising rates it's surprising no one has mentioned the SNB, although Swiss rates are still very low relative to their peers at 1%.    On the data front the latest UK Public sector borrowing numbers for February are expected to see normal service resumed for the UK government are the net receipts of £5.4bn that topped up the Treasury coffers in January. Today's numbers are expected to see monthly borrowing rise to £11.8bn, even as tax receipts showed the UK economy is performing much better than the more pessimistic expectations that we saw at the end of last year. We also have the latest German ZEW investor survey for March which is expected to show a significant deterioration from the improvement seen in the February numbers. March expectations are expected to slow to 15.7, after hitting an 11-month high of 28.1 the previous month.  The current situation isn't expected to change that much, with an expectation of an improvement from -45.1 to -44.3. In Canada the latest inflation numbers are expected to show a modest slowing in headline CPI to 5.4% from 5.9%, while the median core is forecast to slip back to 4.8%, in a sign that it continues to remain sticky, having been stuck around the 5% level for the previous 3 months. Forex pairs EUR/USD – retesting the last week's highs at 1.0760 as well as the 50-day SMA. A move through here retargets the recent range highs at 1.1030. Still have support at recent lows at 1.0520. GBP/USD – had a strong day yesterday and looks set for a retest of the range highs at 1.2300, and even the 1.2450 area. Still has solid support at 1.1800 with a break targeting the 1.1640 area. EUR/GBP – a break of trend line support from the lows last August, currently just above the 0.8700 area, could well see further losses towards 0.8620. Resistance at the 0.8830 area. USD/JPY – slipped back to cloud support between 130.30/40 yesterday, with the main resistance still up near the 200-day SMA at 135.90. A break of 130.00 targets the 128.00 area.    Stock market FTSE100 is expected to open 16 points higher at 7,420 DAX is expected to open 77 points higher at 15,010 CAC40 is expected to open 30 points higher at 7,048

Last week we heard from Chris Beauchamp from IG, who shared his view on the S&P 500 performance, which has been much worse than Nasdaq and tech stocks. This time we're pleased to share comment of Joseph Jeffries, market analyst at Eightcap.  Source: TradingView FXMAG.COM: Companies shown in the chart (TSLA, NVDA, AMZN, GOOG) have increased significantly more than SPX itself YTD. Taking it into consideration, why the gain of SPX amounts to subtle 5%? Naturally, SPX is about 500 companies from various branches, but isn't it certainly about the banking sector weakening the index? What companies have under performed recently weighing on the index performance? Joseph Jeffries (Eightcap): There was definitely a flood back to tech stocks after the long decline that was based on a few things like missed earnings and other issues in the industry. Meta started the revival months ago after it gave positive guidance, this set off a strong return to tech stocks. Combined with better-than-expected news banking issues started to emerge and this could have been a factor in why sellers started shifting liquidity from some sectors to other sectors.  During the runs when we saw the DOW and SPX start lagging the Nasdaq it was that shift in liquidity that was causing the difference Joseph Jeffries (Eightcap): During the runs when we saw the DOW and SPX start lagging the Nasdaq it was that shift in liquidity that was causing the difference. Traders could have been using tech stocks as a hedge or risk offset to shield risk from the banking issues. This could be a reason we saw the Nasdaq continue to run while the DOW and SPX struggled during that period.  Joseph Jeffries (Eightcap): As stated the reaction was seen as overdone and we can see now that the DOW and SPX have started to catch up with the gains seen on the Nasdaq.

Since its 1 December 2022 high, the Dow Jones Industrial Average has evolved into a major “Expanding Wedge” range configuration. In the short-term, no clear signs of upside momentum as its price actions are being capped below the 20-day moving average. Key short-term resistance to watch will be at 33,580. The Dow Jones Industrial Average (DJIA) is one of the underperforming major US stock indices together with the Russell 2000 so far with a recent weekly loss of -1.11% for the week of 8 May and a 2023 year-to-date return of 0.46% against the Nasdaq 100 (+0.61%/21.94%) and S&P 500 (-0.29%/7.41%). DJIA Technical Analysis – Potential short-term weakness below 33,580 key resistance Fig 1:  DJIA trend as of 15 May 2023 (Source: TradingView, click to enlarge chart) Since its 1 December 2022 high of 34,628, the US Wall St 30 Index (proxy of the Dow Jones Industrial Average futures) has started to evolve into a major “Expanding Wedge” range configuration as depicted on the daily chart. An important point to note is that the Dow Jones Industrial Average is one of the underperforming major US stock indices together with the Russell 2000 so far with a recent weekly loss of -1.11% for the week of 8 May and a 2023 year-to-date return of 0.46% against the Nasdaq 100 (+0.61%/21.94%) and S&P 500 (-0.29%/7.41%). On a shorter-term frame, using the 1-hour chart, the Index has so far failed to make any headways above its slightly downward-sloping 20-day moving average now acting as a resistance at around 33,580 since the recent break below it on 2 May 2023. In addition, the 1-hour RSI oscillator has remained below a corresponding descending resistance at around the 56% level. Read next: China: manufacturing activities slipped back to contraction in April. Technical look at China A50| FXMAG.COM These observations suggest a potential build-up in short-term downside momentum. A break below minor support at 33,100 may expose the 4 May 2023 swing low area at 32,950. On the other hand, a clearance with an hourly close above the 33,580 key short-term pivotal resistance negates the bearish tone to see the next resistance coming in at 33,750 (minor swing high areas of 3 May/8 May/10 May 2023). Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc. DJIA Technical: Capped below the 20-day moving average - MarketPulseMarketPulse

A week packed with earnings and central bank decisions Last week ended on a caution note after the first earnings from Big Tech companies were not bad, but not good enough to further boost an already impressive rally so far this year. The S&P500 closed the week just 0.7% higher, Nasdaq slipped 0.6%, while Dow Jones recorded its 10th straight week of gains, the longest in six years, hinting that the tech rally could be rotating toward other and more cyclical parts of the economy as well.   This week, the earnings season continues in full swing. 150 S&P500 companies are due to announce their second quarter earnings throughout this week. Among them we have Microsoft, which is pretty much the main responsible of this year's tech rally thanks to its ChatGPT, Meta, Alphabet, Visa, GM, Ford, Intel, Coca-Cola and some energy giants including Exxon Mobil and Chevron.   On the economic calendar, we have a busy agenda this week as well. Today, we will be watching a series of flash PMI figures to get a sense of how economies around the world felt so far in July, then important central bank meetings will hit the fan from tomorrow. The early data shows that both manufacturing and services in Australia remained in the contraction zone, as Japan's manufacturing PMI dropped to a 4-month low in July. German figures could also disappoint those watching the EZ numbers.   On the central banks front, the Federal Reserve (Fed), the European Central Bank (ECB) and the Bank of Japan (BoJ) will meet this week, and the first two are expected to announce 25bp hike each to further tighten monetary conditions on both sides of the Atlantic.     Zooming into the Fed, activity on Fed funds futures gives almost 100% chance for this week's 25bp hike. But many think that this week's rate hike could be the last of this tightening cycle, as inflation is cooling. But the resilience of the US labour market, and household consumption will likely keep the Fed cautiously hawkish, and not announce the end of the tightening cycle this Wednesday. There is, on the contrary, a greater chance that we will hear Fed Chair Jerome Powell rectify the market expectations and talk about another rate hike in September or in November. Therefore, the risks tied to this week's FOMC meeting are tilted to the hawkish side, and we have more chance of hearing a hawkish surprise rather than a dovish one. Regarding the market reaction, as this week's Fed meetings falls in the middle of a jungle of earnings, stock investors will have a lot to price on their plate, so a hawkish statement from the Fed may not directly impact stock prices if earnings are good enough. Bond markets, however, will clearly be more vulnerable to another delay of the end of the tightening cycle. The US 2-year yield consolidates near the 4.85% level this morning, and risks are tilted to the upside. For the dollar, there is room for further recovery as the bearish dollar bets stand at the highest levels on record and a sufficiently hawkish Fed announcement could lead to correction and repositioning.  Elsewhere, another 25bp hike from the ECB is also seen as a done deal by most investors. What investors want to know is what will happen beyond this week's meeting. So far, at least 2 more 25bp hikes were seen as almost certain by investors. Then last week, some ECB officials cast doubt on that expectation. Now, a September rate hike in the EZ is all but certain. The EURUSD remains under selling pressure near the 1.1120 this morning, the inconclusive Spanish election is adding an extra pressure to the downside.   Finally, the BoJ is expected to do nothing, again, this week. Japanese policymakers will likely keep the policy rate steady in the negative territory and the YCC policy unchanged. The recent U-turn in BoJ expectations, and the broad-based rebound in the US dollar pushed the USDJPY above the 140 again last Friday, and there is nothing to prevent the pair from re-testing the 145 resistance if the Fed is sufficiently hawkish and the BoJ is sufficiently dovish.     By Ipek Ozkardeskaya, Senior Analyst | Swissquote Bank  

In a world where the unpredictable often takes center stage, last week provided no exception. From the surreal landscapes of the Burning Man festival to the bustling stock markets, events unfolded that left people both exhilarated and perplexed. This rollercoaster ride of a week saw stranded festival-goers, restless investors, and soaring airline rankings, all while diamond prices took a dramatic plunge and another Binance executive bid farewell. Let's embark on a journey through the past week's fascinating headlines. Burning Man's Mud-Filled Exodus Thousands of adventurous souls set out for the annual Burning Man festival, eager to immerse themselves in a unique blend of art, music, and self-expression in the arid Nevada desert. However, nature had other plans. A fierce storm swept through the festival grounds, transforming the desert into a mucky quagmire. Festival-goers found themselves stranded in a surreal landscape, battling the elements in a quest to return to civilization. As the desert turned to mud, it was a stark reminder that even the most carefully planned adventures can take an unexpected turn.   Wall Street's Unease Meanwhile, on the bustling streets of Wall Street, investors were grappling with their own set of uncertainties. After a summer rally that saw markets surging to new heights, the fall season brought with it a sense of unease. The latest US jobs report became a focal point, with investors closely analyzing the data for clues about the economy's direction. The Dow led the indices with a 0.33% gain, showcasing its resilience amidst the fluctuations. Asian markets also experienced surges, particularly Hong Kong's HSI, proving that the global financial landscape remains as unpredictable as ever.   Delta's Soaring Success Amidst the turbulence, there was a beacon of success for Delta Airlines. The airline secured its place as the No. 1 domestic carrier in several categories, including on-time arrivals, service quality, and passenger comfort. In an industry often fraught with challenges, Delta's achievement serves as a testament to its dedication to passenger satisfaction and operational excellence.   Xi's G20 Summit Decision On the global stage, Chinese President Xi Jinping made a surprising decision. He opted to skip the upcoming G20 summit in India, instead sending Premier Li Keqiang as the country's representative. This move raised questions and sparked discussions about China's diplomatic strategy and priorities. As the world watches, it's clear that even international politics is not immune to unexpected twists.   Diamonds Lose Their Sparkle In the realm of luxury and glamour, there was a stark contrast as diamond prices experienced a significant and unexpected decline. While diamonds have long been a symbol of wealth and beauty, one key segment of the market saw prices plummet. This shift left industry experts and enthusiasts pondering the reasons behind this sudden change and its potential repercussions.   A Farewell at Binance To add to the week's intrigue, another executive bid farewell to the cryptocurrency exchange giant Binance. This departure is part of a larger trend of key figures leaving the company. Such transitions in the world of cryptocurrency can have far-reaching implications, leaving stakeholders and enthusiasts wondering about the future direction of the industry. In a world filled with surprises, last week's events served as a compelling reminder of the unpredictable nature of life, whether one is reveling in the desert at Burning Man, navigating the turbulent waters of financial markets, or witnessing shifts in global politics and industry dynamics. As we move forward, one thing remains clear: the only constant is change, and embracing the unexpected is the key to navigating the twists and turns that lie ahead.    

Santa comes early as Fed pivots, Bank of England and ECB up next By Michael Hewson (Chief Market Analyst at CMC Markets UK)     It had been widely anticipated that Fed chairman Jay Powell's main challenge yesterday would be in trying to push back on the idea that the US central bank was ready to cut rates sharply over the next 12 months. With the sharp fall in yields since November there was an expectation that the loosening in financial conditions might put the central banks fight against inflation at risk.   It was therefore quite surprising that yesterday's statement and dot plots embraced that narrative, delivering an early Christmas present to the markets, returning the 2024 median for dot plots to 4.6%, back to where it had been in September, while forecasting core PCE to decline to 2.4%.     The US dollar sank, along with 2-year yields which fell 30bps to a 6-month low, gold surged back above $2,000 an ounce, and US markets pushed up to their highest levels this year, with the Dow posting a new record high, confounding market expectations of a hawkish pushback.      At the press conference Powell tried to give the impression that the Fed retained the option to hike rates again, however this message is rather undermined by the fact that the FOMC cut their dot forecasts as much as they did. The admission that the FOMC discussed rate cuts was also noteworthy.     If "higher for longer" wasn't dead before last night, it certainly is now, and certainly makes the job of both the Bank of England, as well as the ECB later today that much harder in maintaining a hawkish bias, with European markets set to open sharply higher, with new record highs expected for the DAX and CAC 40.       Having seen the Federal Reserve leave rates unchanged yesterday its now the turn of the Bank of England and ECB to follow suit, as well as try to navigate the messaging of when they expect to start cutting them. When the Bank of England took the decision to hold rates steady in September it was a close-run thing, but on the balance of risks it was also probably the right one given the challenges facing the economy as we head into year end.     These challenges have been thrown into sharper focus this week with wage growth slowing to 7.3%, and an economy that contracted by -0.3% in October. This week's data has prompted markets to price in the prospect that the BOE will prioritise the UK economy over its battle against inflation, with yields dropping sharply to their lowest levels since June.   The emphasis in recent meetings to what has become a "Table Mountain" approach to rate policy, and a higher for longer approach does present some problems in terms of messaging especially when growth is slowing sharply however when looking at high levels of services and wage inflation it's hard to see how the Bank of England can overlook that even against the currently challenging growth outlook.   Now that the energy price cap inflation is out of the headline numbers, CPI is now back at a more manageable level of 4.6%, well below last year's peak of 11.1%, although core prices are still at a lofty 5.7%. The Bank of England's biggest concern however is wage growth which is currently at 7.3%, while services inflation is at 6.6%, and appears to be behind some of the dissent on the MPC amongst those who still want higher rates, although this number has shifted to 3 external members of Catherine Mann, Megan Greene, and Jonathan Haskel.   It will be interesting to see if they drop their dissent given this week's economic data, and opt for the status quo today, with the markets also already pricing in some rate cuts for next year. These will still probably happen; however, they may not come as early as markets are currently pricing given current inflation levels. When they do happen, they are likely to come well after the ECB starts cutting given inflation here in the UK is still over 2% higher than it is in the EU on an annualised basis.   This is the challenge facing the ECB today given that they were the central bank which raised rates as recently as September, and a dovish pivot today would surely be an admission that the ECB erred 3-months ago.  When the ECB met in October President Christine Lagarde said that risks to growth were tilted to the downside, but also that inflation was still too high, although it isn't now given headline CPI for November is now at 2.4%.   At the time there was no commitment as to whether the ECB was done on the rate hike front, however that has now changed given recent comments from Germany's Schnabel and France's Villeroy. Recent economic data coming out of Europe since June has been dire and we now know that the ECB governing council has been surprised at how quickly inflation has slowed.   Putting to one side that it shouldn't be a surprise given the trend in PPI over the past 12 months a few other members of the Governing council, have also admitted that the next move in rates is likely to be lower in 2024.   That's not surprising given that in Q3 the French economy slipped into contraction, and with Germany not having seen much in the way of growth this year markets are now pricing in rate cuts for as soon as April 2024. It was also noteworthy that at the start of this month Villeroy said that rate hikes were over based on the current data, thus supporting the view that inflation was returning to target. That is already quite apparent with November CPI falling to 2.4%, having been at 5.3% only 3 months before.     No changes in policy are expected with the biggest challenge facing Christine Lagarde today being in convincing the market that rate cuts won't begin much before the summer of next year, given how bad the economy in Europe already is.      EUR/USD – yesterday's rebound pushed above the 200-day SMA this time opening the prospect of a move towards 1.0940. Support still above the 50-day SMA at 1.0720.   GBP/USD – held above the 200-day SMA at 1.2500 yesterday rallying strongly. A break below the 200-day SMA and 1.2460 signals a broader test of the 1.2350 area. Having broken resistan ce at the 1.2620 area could extend towards 1.2720.   EUR/GBP – breaking higher and heading towards the 100-day SMA at 0.8640. Support now at 0.8580.   USD/JPY – the US dollar slid sharply yesterday having run into resistance at 146.60, falling below 144.70, dropping below the 200-day SMA at 142.50, and could see a retest of the 140.00 area.     FTSE100 is expected to open 72 points higher at 7,620   DAX is expected to open 177 points higher at 16,943   CAC40 is expected to open 84 points higher at 7,615  

Rates Spark: Does the Fed know something we dont? The surprise from the FOMC was partly the extra 25bp implied cut added to 2024, but it was more the lack of pushback from Chair Powell on the 2024 rate cut narrative. He almost endorsed it, which leads us to question whether he knows something of significance that we don't. Today's focus is on the ECB and BoE policy meetings.   Chair Powell validates the move from 5% to 4% on the 10yr yield Such was Federal Reserve Chair Jerome Powell's phraseology at the press conference that one must suspect that he knows more than we know. And its not about the macro data. We can see that. It's more about what the Fed might be seeing under the hood. Perhaps in commercial real estate, or single family residential rentals or private credit, or another other area of the system that might find itself overexposed to rate hikes delivered, under water and vulnerable to breaking. We don't know of course, but a Fed chair that stands up asserts that he understands the dangers they run by keeping rates too high for too long is one that looks like he's ringing alarm bells. Along with the Fed, the market too has added an additional 25bp rate cut for 2024, now at 150bp cumulative. The entire curve has shifter lower, led by real rates. The 2/10yr curve has gapped steeper too. This is a meaningful outcome. The question now is whether the 2yr can really break free and head lower as a driver of the yield curve, steepening it out from the front end. That traditionally happens on a three month run in ahead of an actual rate cut. We’re on the cusp if this, but not quite there just yet. It’s been a remarkable ongoing market move, especially as it has been interlaced with some tailed auctions, indicative of resistance to the falling market rates narrative (in the long end). But there’s been little from Chair Powell and the FOMC to stand in the way of this. Recent data has not really validated the dramatic fall in yields. But today the Fed has helped to do so. A far more hawkish Fed had been anticipated. The question ahead is where is fair value for the 10yr. We think it’s 4%. It’s premised off the view that the funds rate gets to 3% and we are adding a 100bp curve to that. We are about to sail below 4% though as a theme for 2024, with 3.5% the target. But the move below 4% towards 3.5% will be an overshoot process. If something breaks, we fast track all of that and jump to a new environment. That has not happened as of yet, but we think the stakes have risen.   ECB to push back against early cut expectations With a first rate cut more than fully discounted by April and on overall anticipated easing of 135bp over 2024, the market’s expectations of European Central Bank policy stand in stark contrast to the official line of rates having to remain high for longer. But since the last meeting in particular the inflation data has surprised to the downside, which even influential ECB officials like Isabel Schnabel had to acknowledge. The prospect of further hikes is clearly off the table, but she warned that central banks will have to be more cautious. That also meant that the ECB should be more careful with regards to making statements about what will happen in the next six months. The ECB’s new growth and inflation forecasts will have to be lowered, the crucial question is just by how much. Also taking it from Schnabel, the ECB is unlikely to give any longer rate guidance, which would only mean a truer meeting-by-meeting and data dependent approach. Still, the ECB is unlikely to endorse the aggressive market pricing, especially that of cuts already early in the year. So far the communication has been that one is particularly concerned about the development of upcoming wage negotiations which makes pricing for March rate cuts look premature. But how can the ECB still convey a hawkish tilt? One possibility is using communication about plans to shrink the balance sheet. We do not think there will be concrete decisions yet, but the ECB could state that it has begun discussing to potentially end PEPP reinvestments earlier than planned.   BoE likely reiterate rates will stay restrictive for an extended period Expectations of policy easing have further deepened ahead of today’s Bank of England monetary policy committee meeting. A first rate cut is now fully discounted by June with an overall expected easing of close to 100bp over 2024. One reason for growing expectations was a downside surprise in wage growth which saw private sector regular pay growth fall to 7.3% year-on-year from 7.8% YoY. Another trigger was yesterday’s disappointing GDP growth for October which means we are potentially on track for a fractionally negative overall fourth quarter figure. The BoE is likely to reiterate the guidance from November, where it said it expected rates to stay restrictive for “an extended period.  A hold is also widely anticipated by the market, but the recent data could convince some of the three MPC’s hawks who had still voted for a hike in November to back down from that position toward a ‘no change’.    Today's events and market view The central bank meetings are clearly the focus today given how far market expectations of policy easing have come. There may well be some disappointment in store for pricing of rate cuts as early as March. But further out we must acknowledge that the shift lower in rates is also driven by a drop in inflation expectations. The 10Y EUR inflation swap for instance has come down all the way from levels closer to 2.6% in October to currently 2.15%. Even central banks themselves have become more positive about the disinflationary tendencies taking hold. On the heels of the FOMC meeting rates markets in the US will look out for the initial jobless claims as well as retail sales data today. we will also get import and export prices.

Fed signals three rate cuts in 2024 ECB and BoE to announce decisions shortly Dow hits record highs after the Fed The most hotly anticipated central bank meeting of the year did not disappoint on Wednesday, with the Fed potentially delivering this year’s Santa rally. I don’t think many will have expected the Fed to go as far as it did in forecasting three rate cuts next year only three months after suggesting the tightening cycle is not over. But clearly, it’s not just investors that have been impressed with the data we’ve seen so far in the fourth quarter and now they’re getting more carried away than before. There’s been a lot of debate in recent weeks about whether investors are getting ahead of themselves, too optimistic about how quickly the Fed will cut rates but the message from the central bank is that is not the case. And in typical fashion, investors have now gone further, pricing in six rate cuts next year starting in March. That’s also forced investors to reassess whether they’re in fact too pessimistic with other central banks too, with the ECB now expected to cut rates by 150 basis points over the next 12 months and the BoE between 100 and 125 basis points. Both now have a lot to live up to today and Christine Lagarde, in particular, may not be thanking her US counterparts for whipping investors up into a frenzy right before their announcement and press conference. A repeat performance from the ECB could leave investors going into the end of the year in a much more festive mood.   New record highs in the Dow Markets got an early festive treat from the Fed, with the Dow hitting fresh record highs on the back of the Fed announcement almost two years after it last achieved that feat. US30 Daily Source – OANDA Now that it’s in uncharted territory, momentum indicators will be much more useful as we don’t have past levels to look to. And we are seeing some sign of exhaustion occurring in the MACD histogram, although not yet in the moving averages or stochastic.    

Notes from a slow year-end morning By Ipek Ozkardeskaya, Senior Analyst | Swissquote Bank  The last PCE print for the US was perfect. Core PCE, the Federal Reserve's (Fed) favourite gauge of inflation, printed 0.1% advance on a monthly basis – it was softer than expected, core PCE fell to 3.2% on a yearly basis – it was also softer than expected, and core PCE fell to 1.9% on a 6-month basis, and that's below the Fed's 2% inflation target.   Normally, you wouldn't necessarily cheer a slowdown in 6-month inflation but because investors are increasingly impatient to see the Fed cut its interest rates, all metrics are good to justify the end of the Fed's policy tightening campaign. So here we are, cheering the fact that the 6-month core PCE fell below the Fed's 2% target in November. The US 2-year yield is preparing to test the 4.30% to the downside, the 10-year yield makes itself comfy below the 4% mark – and even the 3.90% this morning, and the stocks joyfully extend their rally. The S&P500 closed last week a few points below a ytd high, Nasdaq100 and Dow Jones consolidated near ATH levels and the US dollar looks miserable. The dollar index is at the lowest level since summer and about to step into the February to August bearish trend.   There is not much data left to go before this year ends. We have a light economic calendar for the week, and the trading volumes will be thin due to the end-end holiday.   Morning notes from a slow morning  Major central banks reined in on inflation in 2023 – the inflation numbers are surprisingly, and significantly lower than the expectations. Remember, we though – at the start of the year - that the end of China's zero-Covid measures was the biggest risk to inflation. Well, we simply have been served the exact opposite: China's inability to rebound, and inability to generate inflation simply helped getting the rest of us out of inflation. China did not contribute to inflation but to disinflation instead.  The Fed sounds significantly more dovish than its European peers – even though inflation in Europe and Britain have come significantly down, and their sputtering economies would justify softer monetary policies, whereas the US economy remains uncomfortably strong. Released last Friday, the US durables goods orders jumped 5.4% in November! The diverging speed between the US and the European economies makes the policy divergence between the dovish Fed and the hawkish European central banks look suspicious. Yes, the EURUSD will certainly end this year above that 1.10 mark, nonetheless, the upside potential will likely remain limited.   Elsewhere, everyone I talk to is short USDJPY, or short EURJPY, or GBPJPY. But the bullish sentiment in the yen makes the yen stronger and a stronger yen will help inflation ease in Japan, and slow inflation will allow the Bank of Japan (BoJ) to remain relaxed about normalizing policy. And indeed, released this morning, the BoJ core inflation fell more than expected to 2.7%. Bingo! Therefore, it looks like the USDJPY's downside potential may be coming to a point of exhaustion near the 140 – in the absence of fresh news.   In energy, oil is having such a hard time this year. The barrel of American crude couldn't break the $74pb resistance and there is now a death cross formation on a daily chart. Yet the oil bulls have all the reasons on earth to push this rally further: the tensions in Suez Canal are mounting, the war in the Middle East gets uglier, Iran looks increasingly involved in the conflict, OPEC restricts production, and central banks are preparing to cut rates. But interestingly, none has been enough to strengthen the back of the bulls. Failure to clear the $74/75 resistance will eventually weaken the trend and send the price of a barrel below $70pb. If that's the case, there will be even more reason to be confident about a series of rate cuts next year.