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Economic Updates
US stocks finished mixed – Nasdaq surges on NVDA earnings boost – Gold down again
US indices finished mixed in Thursdays session two up, two down though with an overall positive bias on debt ceiling progress and strong economic data. The Nasdaq easily outperformed as a huge up day from Nvidia (NVDA + 24%) after a positive earnings report saw the tech heavy index surge over 200 points. Strong data was also released...
May 26, 2023
Read More > US stocks finished mixed – Nasdaq surges on NVDA earnings boost – Gold down again
US indices finished mixed in Thursdays session two up, two down though with an overall positive bias on debt ceiling progress and strong economic data. The Nasdaq easily outperformed as a huge up day from Nvidia (NVDA + 24%) after a positive earnings report saw the tech heavy index surge over 200 points. Strong data was also released...
May 26, 2023
Read More > AU and Asian markets open in the green after mixed lead in from Wall St
The ASX200, Nikkei and Hang Seng are all looking to open in the positive after a mostly positive lead from Wall St with all major US indices but the Dow eking out gains despite ongoing debt ceiling headwinds and some hawkish Fed speak. The Russell 2000 saw strong advances, aided by a bounce in regional banks with PacWest (PACW) surging after anno...
May 23, 2023
Read More > AU and Asian markets open in the green after mixed lead in from Wall St
The ASX200, Nikkei and Hang Seng are all looking to open in the positive after a mostly positive lead from Wall St with all major US indices but the Dow eking out gains despite ongoing debt ceiling headwinds and some hawkish Fed speak. The Russell 2000 saw strong advances, aided by a bounce in regional banks with PacWest (PACW) surging after anno...
May 23, 2023
Read More > The Week Ahead – RBNZ, UK and US inflation and debt ceiling impasse headline risk events
With Junes FOMC policy meeting still up in the air as far as markets are pricing in, FOMC minutes and US PCE core inflation figures (reportedly the Fed’s favoured measure) released this week will be closely watched and likely go a long way to settling market participants mind as to what the next move from the fed will be. From the UK inflation da...
May 22, 2023
Read More > US equities rally, dollar and yields surge on data and hawkish Fed speak
US indices were firmly higher on Thursday with a Big Tech bias, with the Nasdaq outperforming , rallying 1.5%, lifted by the likes of Nvidia (NVDA), Amazon (AMZN), and particularly Netflix (NFLX), which saw near double-digit strength after a positive ad tier subscriber update. Strong data releases (good news is good news now?) and a more haw...
May 19, 2023
Read More > US equities rally, dollar and yields surge on data and hawkish Fed speak
US indices were firmly higher on Thursday with a Big Tech bias, with the Nasdaq outperforming , rallying 1.5%, lifted by the likes of Nvidia (NVDA), Amazon (AMZN), and particularly Netflix (NFLX), which saw near double-digit strength after a positive ad tier subscriber update. Strong data releases (good news is good news now?) and a more haw...
May 19, 2023
Read More > US stocks surge on bounce in regional banks and debt ceiling optimism
Major US indices finished solidly in the green in a broad rally as risk appetite returned to the market amid optimism debt ceiling negotiations and a reassuring update from regional bank Western Alliance (WAL) which reported growth in its deposits. The Dow was up over 400 points, or 1.24% while the Russell 2000 outperformed, up over 2%, flying on a...
May 18, 2023
Read More > US equities finish in the red after retail sales miss and ongoing debt ceiling concerns
US stocks finished mostly lower in what was a risk-off session amid mixed data releases from the US and ongoing debt ceiling concerns weighing on risk markets. A lackluster forecast from retail giant (and Dow component) Home Depot (HD) also didn’t help. The Dow led losses, ending up down over 300 points while the Nasdaq was the least worst of ...
May 17, 2023
Read More > US stocks finish in the green on weak data and regional bank short squeeze
Major US indices finished broadly higher after weak Empire State manufacturing figures fed into the “bad news is good news” for equities narrative, and a surge higher in regional bank stocks allayed fears of further crises in that sector in the short term. The Russell 2000, being the home of most of these mid-sized banks outperformed, finishing...
May 16, 2023
Read More > The Week ahead – US retail sales, jobs data from UK and Australia, RBA minutes.
Global markets enter the 3rd week of May against the backdrop of rising market concern regarding the ongoing US debt ceiling impasse as well as ongoing risks in the US banking system, both of which dampening risk sentiment and seeing markets rangebound as they await a solid catalyst to get moving. US 1 year Credit Default Swap price spiking on d...
May 15, 2023
Read More > The Week ahead – US retail sales, jobs data from UK and Australia, RBA minutes.
Global markets enter the 3rd week of May against the backdrop of rising market concern regarding the ongoing US debt ceiling impasse as well as ongoing risks in the US banking system, both of which dampening risk sentiment and seeing markets rangebound as they await a solid catalyst to get moving. US 1 year Credit Default Swap price spiking on d...
May 15, 2023
Read More > US CPI preview – the chart to watch
Today’s US CPI number is the most important US data release this week. With the FX markets coming into this release with relatively low energy and searching for a catalyst any surprise will likely trigger significant intraday volatility in FX and other risk assets. We’re also coming into this release with a market split on the Feds next rate...
May 10, 2023
Read More > US stocks fall ahead of CPI, Hawkish Central bank speak and debt limit limbo
US indices finished modestly lower on a light news day with traders cautious ahead of upcoming US CPI figures and following hawkish rhetoric from numerous ECB and Fed officials. There is also the US debt limit negotiations on the back of traders’ minds as agreement remains in limbo and talks look likely to be protracted. The Dow Jones was down...
May 10, 2023
Read More > Risk events in the week ahead – BoE set to hike, US CPI
US stocks rallied strongly on Friday on a stronger than expected Jobs report, improved banking sentiment and strong earnings from Apple (AAPL) which saw the Nasdaq up over 2% and erasing the weeks losses to finish the first week of May modestly in the green. Non-farm payrolls smashed expectations, coming in at 253k new jobs created in April ...
May 8, 2023
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