All Articles Tagged - US500

Daily Market Comment – Powell does little to ease recession concerns but selloff eases

Posted on June 23, 2022 at 9:14 am GMT

Powell talks inflation and recession but Wall Street holds its nerve Flash PMIs underscore recession risks, euro and pound slip Oil extends losses as outlook weighs, investors question supply tightness Powell sticks to the script, mentions the ‘R’ word Fed Chair Jerome Powell largely stuck to familiar language in his semi-annual testimony before the Senate Banking Committee on Wednesday, repeating his message that the Fed is “strongly committed” to bringing inflation down. Most market participants expect the Fed to hike [..]

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

Posted on June 22, 2022 at 8:58 am GMT

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped [..]

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Posted on June 20, 2022 at 9:09 am GMT

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market. Fears about high inflation forcing central banks’ hands to [..]

Technical Analysis – US500 bounces higher as selling pressure eases but outlook still bearish

Posted on June 15, 2022 at 2:38 pm GMT

The US 500 stock index (cash) is trading higher on Wednesday, ending a five-session dip. The index plunged to a 16½-month low of 3,704.93 on Tuesday as the selling intensified. But with trading conditions fast becoming oversold, buyers have stepped in, though the positive momentum is quite weak for now. Both the RSI and stochastics are pointing slightly upwards, but it is unclear if the bullish forces are strong enough at this point to bring about a sustainable rebound. The [..]

Daily Market Comment – Dollar and yields surge after US inflation jump, stocks sink

Posted on June 13, 2022 at 9:15 am GMT

US CPI unexpectedly accelerates in May, fuelling fears of more big Fed rate hikes Wall Street tanks, dollar firms as yields keep rising ahead of central bank meetings Pound tumbles as UK economy sounds recession alarm bells, yen breaches 135 level No inflation peak in sight Inflation in the United States jumped to a fresh 40-year high of 8.6% y/y in May, confounding expectations that it would hold steady at 8.3%. The month-on-month rate increased by a shock 1% and [..]

Daily Market Comment – Euro steady ahead of ECB decision, stocks drift lower

Posted on June 9, 2022 at 9:28 am GMT

Euro holds around $1.07 ahead of expected ECB stimulus pullout Elevated yields and oil prices weigh on equities, some relief from China trade jump Yen snaps losing streak, dollar gets caught in sideways range in CPI wait Cautious calm before ECB amid hawkish risks The European Central Bank meeting is undoubtedly the focal point for investors on Thursday in what could turn out to be the most important policy shift since Draghi’s ‘whatever it takes’ moment. After years of quantitative [..]

Daily Market Comment – Choppy trading in build up to US CPI, central bank bonanza

Posted on June 8, 2022 at 9:23 am GMT

Wall Street closes up but futures slip amid wavering sentiment Dollar maintains upward crawl as inflation and growth worries persist Yen keeps sinking, loonie outperforms as tight oil supply boosts prices Stocks lack direction but bargain hunters lurk Bargain hunters drove Wall Street higher on Tuesday, piling into defensive tech stocks and energy shares. The S&P 500 and Nasdaq Composite both closed up about 1%, but the Dow Jones lagged slightly. Retailers weighed on Wall Street after the department store [..]

Daily Market Comment – Dollar edges up as yields spike, yen sinks, stocks come under pressure

Posted on June 7, 2022 at 9:07 am GMT

Bond selloff gathers steam ahead of large Treasury auction, pushing yields higher Surprise big rate hike by RBA adds to jitters about rising borrowing costs, stocks slip Dollar climbs as yen tumbles, pound plunges too as Johnson’s woes not over Fresh bond rout rattles markets Bond yields surged on Tuesday as investors fretted about how far central banks will go to contain inflationary pressures that are rampaging around the world. US Treasury yields edged lower for most of May as [..]

Daily Market Comment – Strong NFP report dampens Fed pause hopes

Posted on June 6, 2022 at 8:50 am GMT

US economy still churning out jobs but Fed may have to keep hiking by 50 bps Stocks rebound after NFP-led dip as yields advance only marginally Euro slightly firmer ahead of ECB, pound shrugs off Johnson confidence vote Strong NFP: a case of glass half full? America’s roaring labour market added a stronger-than-expected 390k jobs in May, while the unemployment rate held steady at 3.6% even as the labour force participation rate improved slightly. The upbeat numbers dashed hopes that [..]

US Open Note – Dollar continues the sell-off after ADP and ahead of NFP; oil erases losses

Posted on June 2, 2022 at 12:43 pm GMT

ADP dissapoints; NFP comes out tomorrow After the disappointing release of the ADP report which announced 128K workers versus 300K that was expected, the dollar is still trading lower. After two days in a row of gains, the dollar index retraced to a low of 102.12. As dollar/yen traded over 130 for the first time since the middle of May, the trend of the yen weakening has re-established itself. Sterling is holding above $1.25, within the short-term moving averages. Yesterday, Bullard stated that the path that the Fed [..]

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