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Tech leads US Stocks higher on soft PPI and employment figures, Gold surges towards all time high

A significantly softer than expected PPI print confirming Wednesdays CPI saw the green light for risk on in Thursday’s session and saw a broad rally in risk assets. All major US indexes rallied strongly with the Tech heavy NASDAQ outperforming while the S&P 500 closing at its highest level since February. The March producer price index...

April 14, 2023
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US Stocks give up gains on cool CPI as Fed minutes stoke recession fears

Major US stock indices slid in Wednesday’s session after a cooler than expected CPI figure gave them a boost only run out of steam and ultimately finish in the red after Fed minutes stoked recession fears. The Dow outperformed it’s peers, down around 38 points as investors continued to favour defensive stocks over more risk sensitive growth sto...

April 13, 2023
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US stocks choppy in a low volatility session ahead of pivotal CPI and FOMC minutes

US equities traded in tight ranges in a low volume session as traders remained cautious ahead of Wednesdays pivotal CPI figure out the US, followed by the release of FOMC minutes a few hours later. Major indices eventually finished mixed with the defensive Dow and recently battered Russell 2000 finishing in the green, whilst the S&P500 and N...

April 12, 2023
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US stocks reverse weak opening to end slightly higher in first reaction after NFP beat

US markets opened on Monday after a holiday break to the news of a resilient US labour market after a beat in the NFP figure released on Friday. Nonfarm payrolls grew by 236,000 for the month, above the 228k expected, while the unemployment rate fell to 3.5%, where a hold of 3.6% was expected. This saw rate hike expectations from the FOMC at ...

April 11, 2023
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Tech Tanks, Defensives hold up the Dow as Weak Data Stokes Recession Fears

US markets continued to wobble in Wednesday’s session after another weak employment figure and a miss on Services PMI indicated the US economy might finally start to be slowing down after a year of aggressive hiking from the Federal Reserve. The Tech heavy and more risk sensitive Nasdaq led declines, closely followed by the Russell 2000 as reg...

April 6, 2023
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US stocks decline as weak JOLTS data and Dimon comments spook investors

US equities snapped a 4-day winning streak as the “bad news is good news” narrative for equities faltered in Tuesdays session. Before the cash session the JOLTS job openings figure was released and came in much lower than expected, this is a key gauge of US labour market tightness that the Fed has referenced throughout its aggressive interes...

April 5, 2023
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US stocks mixed in choppy session amid an OPEC+ surprise and weak manufacturing data

Markets on Monday opened to the news of a surprise OPEC+ Oil output cut seeing WTI oil gap open over 5% that along with weak manufacturing figures out of the US saw a whipsawing session in equities, the Dow did finish strongly though, up over 300 points, dramatically outperforming the Nasdaq by the most since October last year, the tech heavy index...

April 4, 2023
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The Week Ahead – RBA and RBNZ rate decisions , US employment

US Stocks finished Q1 with a bang as Wall st wrapped up a volatile, and event filled quarter with Federal Reserve rate tightening, a banking sector panic spurred on by the collapse of Silicon Valley Bank and Credit Suisse. The S&P 500 and Nasdaq were up 7.03% and 16.77%, respectively, for the first quarter. It was the best quarter since 2020...

April 3, 2023
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US Stocks Rally on Economic Data and End of Quarter Flows Ahead of PCE Reading

US stocks rose again in Thursdays session on a mixture of “bad news is good news” and end of quarter flows as fund managers did some window dressing on their portfolios. The bad news was a rise in unemployment claims to 198k for the week, and a US GDP figure that came in below expectation at 2.6%. We also had a couple of Fed speakers that cause...

March 31, 2023
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US Markets Rise Ahead of GDP, Tech Outperforms, USD higher on JPY dip

US Stocks were firmer on Wednesday, with a reversal of yesterday’s session with Tech leading the charge higher the recent rise in bond yields lost some momentum , the Nasdaq 100 was up over 200 points and has now entered a technical bull market, rising 20% from its December low, while the S&P500 closed above its 50dma for the first time since...

March 30, 2023
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US Stocks lower in quiet US Session, Tech Underperforms on Higher Yields, Gold Finds Support

US stocks declined modestly in a fairly quiet session with most of the downside coming from Tech stocks whose future valuation become less attractive as bond yields rose, with the Nasdaq finishing down almost 0.5% while the Dow and S&P 500 were almost unchanged. The only real news out overnight was US consumer confidence which rose to 104 fr...

March 29, 2023
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The Week Ahead – Deutsche Bank wobbles, AU, EU and US CPI

With a volatile week behind us in equities, FX and commodities as traders were taking stock of the continuation of the banking crisis coupled with multiple Central Bank meetings, this upcoming week looks positively quiet in comparison. Though with growing rumours of banking giant Deutsche Bank wobbling (it’s share price is down over 24% in the la...

March 27, 2023
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US stocks eke out a gains in choppy post FOMC session

US equities managed to hold onto small gains despite a mid-session sell off, in a volatile session as traders continued to digest the FOMC decision. 3 of the 4 major indexes finished in the green, with the Nasdaq outperforming, up 1% while the Russell 2000 finished down for the day, dragged down by the continued poor performance in reginal bank sto...

March 24, 2023
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US stocks pump and dump on FOMC, Powell and Yellen comments

US equities finished in the red in Wednesdays session , the session was volatile with some big moves in all risk assets which was unsurprising with probably the most important FOMC meeting we’ve had in the last 12 months. The FOMC hiked rates 25bp as expected, there was an initial rally in equities and drop in the USD as the accompanying state...

March 23, 2023
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US stocks continue rally, Gold takes a big hit and EURUSD outperforms ahead of pivotal FOMC meeting

US equities rallied for a second day amid further stability in the banking sector with assurances from treasury secretary Janet Yellen that the US financial system was safe helping to improve investors mood. All major indexes finished in the green with a big bounce in regional banks seeing the Russel 2000 outperform, up almost 2% on the day, wit...

March 22, 2023
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