All Articles Tagged - US500cash

Why do US stocks keep ignoring downside risks? – Stock Markets

Posted on March 14, 2024 at 10:34 am GMT

S&P 500 posts record high despite upbeat CPI print Projections of fewer rate cuts do not scare stocks Can this rally extend without a sizable correction? Stocks unhindered by hotter-than-expected inflation report On Tuesday, the S&P 500 recorded a fresh all-time high, while both the Nasdaq 100 and Dow Jones finished the session in the green despite the stronger-than-expected US CPI print. Specifically, the headline inflation measure came out at 3.2% in annual terms for February against a 3.1% [..]

Market Comment – US PPI and retail sales data enter the limelight

Posted on March 14, 2024 at 9:23 am GMT

After hot CPI inflation, dollar awaits PPI and retail sales data Yen on the back foot as BoJ March hike bets decrease S&P 500 and Nasdaq pull back, gold rebounds Dollar trades cautiously ahead of US data The US dollar traded lower against most of its major peers yesterday, gaining some ground only against the Swiss franc and staying virtually unchanged against the Japanese yen. Today, the greenback is trading slightly higher or unchanged. It seems that dollar traders have [..]

Market Comment – Stocks power to new records despite hot US inflation

Posted on March 13, 2024 at 9:49 am GMT

US inflation comes in hotter than expected, but markets brush it off Dollar unable to gain much, equities close at new all-time highs Gold hit by profit taking, yen soft even as BoJ speculation heats up Inflation surprise doesn’t scare markets A surprisingly hot US inflation report was not enough to frighten investors yesterday. Inflation as measured by the consumer price index clocked in at 3.2% in February, missing expectations that it would remain steady at 3.1%. It was a [..]

Market Comment – Investors lock gaze on US inflation data

Posted on March 12, 2024 at 9:22 am GMT

Dollar trades cautiously ahead of inflation numbers Yen pulls back on Ueda’s and Suzuki’s remarks Pound retreats but BoE still expected to cut rates after Fed S&P 500 and Nasdaq slide, Bitcoin hits new record high Dollar looks for direction in CPI data The US dollar traded higher against most of the other major currencies on Monday, but it is trading more cautiously today, recording noticeable gains only against the yen and the pound. It seems that trading is more [..]

Technical Analysis – US 500 cash index in the red again

Posted on March 11, 2024 at 8:39 am GMT

US 500 index trades lower after recording a new all-time high The pace of the rally remains aggressive but euphoria dominates Bears continue to closely monitor the stochastic oscillator’s movements The US 500 cash index is edging lower again today after recording a new all-time high of 5,189 last week. Friday’s mixed US labour market data do not appear to have dented the market’s bullish appetite but some profit taking has clearly taken place. Having said that, the pace of the rally since the [..]

Market Comment – Dollar gets smoked ahead of nonfarm payrolls

Posted on March 8, 2024 at 9:38 am GMT

Dollar falls sharply, will US employment data fuel this selloff? Yen stages comeback, euro climbs as well after ECB decision Gold and stocks hit new record highs as stunning rally continues Dollar braces for critical US jobs report An action-packed week in global markets will come to a crescendo today with the latest US employment report. Nonfarm payrolls are projected to have risen by 200k in February, less than the previous month but still a solid number overall. The unemployment [..]

Apple and Tesla lag the Magnificent 7 pack – Stock Markets

Posted on March 7, 2024 at 1:50 pm GMT

Magnificent 7 propel US indices to record highs Apple diverges due to lack of AI initiatives Tesla also suffers from weakness in Chinese market AI leads the way The so-called Magnificent Seven group comprised of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla has been the driving force behind the consecutive all-time highs observed in the major US equity indices. The tech behemoths have largely benefited from the Artificial Intelligence (AI) mania, with the latest earnings season providing clear evidence [..]

Market Comment – Powell still sees rate cuts this year, ECB enters the spotlight

Posted on March 7, 2024 at 9:34 am GMT

Powell says it may be appropriate to lower rates this year Yen rallies as speculation about BoJ exiting negative rates intensifies BoC appears less dovish than expected, central bank torch goes to ECB Wall Street rebounds, gold hits a new record high Dollar slides as Powell adds to rate cut hopes The US dollar extended its decline against its major peers yesterday, with the commodity-linked currencies aussie, kiwi, and loonie gaining the most. The greenback remains in a sliding mode [..]

Market Comment – Gold hits new records ahead of Powell’s testimony

Posted on March 6, 2024 at 9:38 am GMT

Gold soars to new record highs as Fed chief prepares to testify Bitcoin also hits all-time peaks, but retreats alongside tech stocks Bank of Canada rate decision and UK budget on the menu too Gold shines, will Powell help? Gold prices cruised to new record highs on Tuesday, extending a blistering rally that has seen the precious metal gain over 4% already this month. A round of disappointing US data releases lately has reignited hopes of interest rate cuts, pushing [..]

Market Comment – Dollar awaits ISM services PMI, China sets dubious targets

Posted on March 5, 2024 at 9:33 am GMT

ISM non-mfg. PMI awaited ahead of Powell’s testimony and NFP Yen slide pauses after accelerating Tokyo CPIs Aussie and kiwi slip as China announces ambitious growth target Equities retreat ahead of key events, gold and bitcoin rally Dollar rebounds ahead of key data and events The US dollar rebounded somewhat against most of its major peers on Monday, although the fact that it lost decent ground against the euro and the pound kept the dollar index (DXY) lower. Today, the [..]

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