US stocks gained for the third consecutive session, and the gains seemed more stable this time as the VIX index retreats. The Federal Reserve (Fed) storm is coming to an end, with most hawkish expectations already factored in the asset prices, and the strong corporate earnings help equities bind up their wounds. We have two important events on today’s macro calendar: the OPEC meeting and the US ADP report. OPEC will discuss whether and by how much they should increase its oil output at today’s meeting. But whatever happens, crude prices are poised for an advance towards the three-digit levels in the coming months given that global glut declines faster than expected due to a stronger recovery in demand, and ongoing supply constraints. And the US jobs figures don't really matter. We guess that the December ADP number will be soft; we could even see a negative print today as the omicron may have taken a severe toll on the US jobs market in December. But it won’t matter for the Fed expectations! Watch the full episode to find out more! 0:00 Intro 0:29 Good news for the cryptocurrencies! 1:46 US stocks extend recovery as volatility eases 2:25 Nasdaq rebounds on strong tech earnings 3:06 Google results impress! 3:53 Exxon, AMD, GM and Ford news 5:41 OPEC: don't hold your breath! 8:27 US jobs data doesn't matter anymore, but we still wacth!
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.