All Articles Tagged - US500

Market Comment – Global stock rout deepens amid China gloom, jump in yields

Posted on August 18, 2023 at 9:33 am GMT

Stocks extend slump as China fears intensify, yields scale fresh highs Dollar on a winning streak as Wall Street heads for third weekly loss Markets eye more China rate cuts and Jackson Hole for Fed clues More pain for risk assets The rout in global stock markets shows no signs of ending on Friday even as the surge in bond yields has eased off a little. It’s been a torrid week for equities, which have been hammered by a tale [..]

Market Comment – China cuts rates but stocks mixed, strong GDP fails to lift the yen

Posted on August 15, 2023 at 9:22 am GMT

China unexpectedly cuts key lending rate as weak data keeps pouring in, yuan skids Japanese growth surges in Q2 but yen hits fresh low, sparking intervention fears US retail sales eyed as tech stocks rally despite soaring yields Yuan slumps after rate cut as China concerns mount China’s central bank announced a surprise rate cut on Tuesday, lowering its one-year medium-term lending facility by 15 basis points to 2.50%. The seven-day reverse repurchase rate was also cut, but by a [..]

Market Comment – Stocks rally but dollar holds firm on soft PCE inflation

Posted on July 31, 2023 at 9:04 am GMT

Expectations of further Fed rate hikes evaporate after dip in core PCE Stocks rejoice but dollar stays in demand as yen’s comeback bid falters RBA decision coming up, BoE next on Thursday ahead of US jobs report Fed pause seen as a certainty after core PCE eases The markets’ conviction that the Fed’s July rate hike was a one and done got a boost on Friday after the central bank’s favourite inflation metric fell more than expected, underscoring the view [..]

Daily Market Comment – Fed expectations swing again, lifting dollar, tech stocks tumble

Posted on July 21, 2023 at 9:16 am GMT

Strong jobless claims revive higher for longer bets for the Fed, buoying the dollar Upbeat data also come to pound’s aid, but yen slips as expectations for BoJ surprise fade Dow Jones and Nasdaq go their separate ways on mixed earnings amid tech selloff Markets suffer another reality check Investors pared back their expectations that the Federal Reserve will embark on an aggressive rate cutting campaign next year after yet another solid jobless claims print on Thursday. Claims for unemployment [..]

Daily Market Comment – Risk rally eases after China GDP disappoints, dollar steadies

Posted on July 17, 2023 at 9:19 am GMT

China GDP miss, caution ahead of Big Tech earnings take wind out of post-CPI rally Hawkish Fed Governor comments also weigh on mood as dollar crawls higher Slew of incoming inflation data adds to nerves at start of the week Chinese growth data does little to squash doubts China’s economy grew by a less-than-expected 6.3% year-on-year in the second quarter of 2023, missing forecasts of 7.3% and raising concerns not only about a deepening slowdown, but also about the lack [..]

Daily Market Comment – Stocks roar higher as US inflation cools slightly, optimism rises

Posted on July 3, 2023 at 9:15 am GMT

Tech stocks lead Wall Street higher in strong first half as PCE inflation eases Growth optimism outweighs Fed rate hike bets as Asia rallies too But dollar bounces off lows ahead of ISM PMIs, jobs report Recession fears ease further after soft core PCE US stocks continue to defy gravity, shrugging off concerns about more Fed rate increases and an uncertain economic outlook to notch up solid gains for the first half of 2023. The S&P 500 just had its [..]

Technical Analysis – US 500 stock index stays heavy but could be poised for a rebound

Posted on June 26, 2023 at 8:48 am GMT

US 500 stock index (cash) is extending its slide from the June 16 high of 4,446.77, but the negative momentum appears to be weakening somewhat as the price approaches the 20-day simple moving average (SMA). Technical indicators continue to point to a bearish bias in the near term but there are some early signs that the selling pressure is subsiding. The stochastic oscillator is headed towards the oversold territory, while the RSI’s decline is slowing even before reaching the 50 [..]

Daily Market Comment – Dollar extends gains as hawkish central bank tone sours mood

Posted on June 23, 2023 at 9:10 am GMT

Recession fears heightened after BoE surprises with 50-bps hike, Eurozone PMIs disappoint Hawkish Fed commentary further underscores need for more central bank tightening Dollar advances as pound and euro slide, Wall Street heads for rare weekly loss Recession gloom returns as growth outlook dims The Federal Reserve and ECB set the tone more than a week ago, but it’s taken another round of hawkish central bank rhetoric, culminating with the Bank of England’s larger-than-expected rate hike, for markets to finally [..]

Technical Analysis – US 500 stock index eases from 14-month high, looks overbought

Posted on June 19, 2023 at 2:50 pm GMT

The US 500 stock index (cash) is pulling back slightly from Friday’s highs when it briefly hit a 14-month peak of 4,446.77. The index has been on a roll during June, gaining more than 5%, but it could be about to record its first two consecutive daily declines this month as the positive momentum wanes. Both the RSI and stochastics are pointing down in the overbought region, signalling some selling pressure in the very near term. However, in the short-to-medium [..]

Daily Market Comment – Stocks resume climb after uptick in jobless claims, dollar tumbles

Posted on June 9, 2023 at 9:09 am GMT

US weekly jobless claims hit highest in 1½-years, boosting Fed pause bets Tech stocks find reason to celebrate as yields decline but China weakness weighs Dollar skids but steadier today, aussie leads FX weekly gains Jobless claims lift spirits ahead of big week Market expectations for a Fed pause received a slight boost on Thursday, reviving hopes ahead of next week’s FOMC decision after hawkish turns from the RBA and Bank of Canada had dented them. Initial claims for unemployment [..]

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