Turning point for the euro? | MarketTalk: What’s up today? | Swissquote
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The US stocks rebounded on Monday. Banking stocks rallied as JP Morgan’s CEO Jamie Dimon said that the ‘storm clouds’ may dissipate. JP Morgan shares jumped more than 6%. Also, Joe Biden said that the US could ditch the tariffs imposed on Chinese imports to help easing the pressure on consumer prices. The S&P500 gained 1.86% and Nasdaq recover 1.59%.
The dollar index eased, gold remained bid, while Bitcoin slipped below the $30K mark
Yet, Monday gains will likely remain short-lived, as the Snap shares plunged 30% in the afterhours trading after the company warned that it will miss revenue and earnings, and will slow hiring. And the bad news from Snap pulled Meta 7% lower in the afterhours. As a result, the US futures point at a negative start. It’s like we are coming back to the reality after a sunny day in the markets. In the FX, Monday was marked by a decent euro rally on the back Christine Lagarde’s blog post revealing the end of the negative rate era in the Eurozone. The dollar index eased, gold remained bid, while Bitcoin slipped below the $30K mark. The spread of monkeypox in Europe and US boosts the shares of pharmaceuticals that are focus on smallpox vaccines, while a latest report suggests that Amazon, which surpassed FedEx in market share is now coming after UPS.
Watch the full episode to find out more!
- 0:00 Intro
- 0:22 Market update
- 2:00 Turning point for the euro?
- 4:01 US dollar softens, gold gains, Bitcoin falls
- 5:55 Starbucks out of Russia, Airbnb out of China
- 6:23 Monkeypox-boosted stocks
- 7:57 Amazon Logistics grows!
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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.
