Are (AMZN) Amazon Stock, (FB) Meta, Alphabet (GOOGL) And Snap At Risk Of Declining!? What Will US ADP Provide Markets With? | Swissquote
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US indices kicked off the new month on a negative note. The S&P500 fell 0.75% and Nasdaq closed 0.72% lower, on Jamie Dimon’s ‘hurricane’ warnings, a stronger-than-expected ISM manufacturing PMI, and higher-than-expected job openings, that fueled the hawkish Federal Reserve (Fed) expectations. The US 10-year yield bounced above the 2.90% mark, the dollar index gained, as gold tipped a toe below the 200-DMA, $1842 per ounce on the back of rising US yields.
Bitcoin And US Tech
Bitcoin, on the other hand, fell as fast as it rose earlier this week, as investors’ appetite for risk fell sharply over the past sessions. And oh, Janet Yellen said she was ‘wrong’ about inflation, as the war in Ukraine was an unexpected event that sent the energy prices soaring and boosted inflation, and the Fed started shrinking the size of its balance sheet yesterday, and the QT should technically lead to a further steepening of the curve. On the bank research desk front, Morgan Stanley cut some big US tech outlooks, and Citi said they are sellers of rallies. On the data front, today’s ADP report is important, but unless we have a decent surprise, it’s mostly unlikely to give a fresh direction to the market. On the OPEC front, OPEC will likely stick to its production increase plan and won’t make miracles at this week’s meeting, but the Wall Street Journal reported that they could suspend the OPEC+ deal with Russia earlier than set.
Watch the full episode to find out more!
- 0:00 Intro
- 0:29 The ‘hurricane’ forecast
- 2:00 Market update
- 4:07 Fed’s QT kicks off
- 4:56 Morgan Stanley downgrades US Big Tech outlook
- 5:42 ADP data: does it even matter?
- 6:37 Oil eases, but bulls to stick around
- 8:29 Will OPEC suspend deal with Russia amid sanctions?
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.
