The selloff in US and European equities continued Monday, yet the size of the slide wasn’t alarming, and the Dow Jones index could even eke out a small 0.08% gain, as energy stocks led gains. Jitters around Elon Musk’s Twitter deal hammered the stocks price, yet again, and Amazon is testing an important 6-year support. US futures are positive at the time of recording, but winds could change direction, as the recession talk remains the major catalyzer of the market moves, and migration from tech to value continues. The latter explains why the FTSE 100 is 5% up ytd, while the S&P500 is at the cusp of the bear market.

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In the FX, the US dollar is softer across the board as investors are waiting for the US retail sales data

Interestingly, JP Morgan upgraded ratings for 15 Chinese stocks, including the tech giants like Alibaba, Tencent and Pinduoduo, while BoFA issued a Buy rating for Nio for those who have guts to go back to the Chinese stocks at the current levels! In the FX, the US dollar is softer across the board as investors are waiting for the US retail sales data. Bitcoin consolidates around the $30K mark.

Watch the full episode to find out more!

• 0:00 Intro
• 0:18 Market update
• 1:12 Twitter deal could go both ways…
• 2:20 Happening now: reflation
• 4:00 Amazon tests 6-year trend base
• 5:11 JP Morgan upgrades 15 Chinese stocks
• 6:54 US dollar softens before retail sales data
• 8:05 Will EURUSD hit parity?
• 8:58 Bitcoin resilient to sector-risks, but not to risk selloff

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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.