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Stocks Bounce Back After Tech Rout

Growth stocks lead on re-opening optimism Rate hike concerns subside for now Inflationary pressures building US data coming up: ADP, ISM services PMI & crude inventories After a sharp sell-off yesterday, stock markets have bounced back. Actually, amidst the tech sell-off, there was late bounce in value stocks in...

USD Gains On Possibility Of Higher Rates

The USD gained against a number of its counterparts yesterday as investors mulled the possibility of higher US interest rates. It should be noted that the situation was also sparked by US Treasury Janet Yellen which stated that higher interest rates may be required for preventing the US economy...

More Than Words…

Yellen comments on interest rates send Nasdaq tumbling Treasury Secretary (and former Federal Reserve Chairperson) Janet Yellen perhaps wished she had used less extreme words last night. Ms Yellen stated that interest rates may have to rise to prevent the economy from overheating. However, she couched that by saying the...

Wall Street Trembles As Yellen Channels Her Inner Fed Chair

US Treasury Secretary Yellen talks about rate hikes, tech stocks suffer But turmoil doesn’t spill over into FX, dollar gets only a minor boost ISM non-manufacturing survey and ADP jobs report coming up Yellen sparks tech selloff Market participants just got a small preview of what could happen when interest...

The U.S. Stock Market Declined On Tuesday Due The Announcement Of A Possible Interest Rate Change

On Tuesday, Janet Yellen, the newly elected Treasury Secretary and former Fed chief, unexpectedly announced about the possible interest rate hike in order to avoid the overheating of the economy. Taking into account the strategy of many investors "Sell in May and go away", the major U.S. indices reacted...

Thoughts Of A Fed Policy Turnaround Scared Markets

Former Fed chief and current US Treasurer Yellen sparked a violent sell-off in equity markets, noting that an interest rate hike may be needed to prevent the economy from overheating as Biden's stimulus plan came into play. A few hours later, Yellen clarified that she can't push the independent Fed...

NAS 100 Tumbles After Exhaustion

Tech stocks slip as investors’ bet on a US recovery favors traditional sectors in their asset rotation. The recent peak above 14000 could lead to a pullback as investors may think twice before chasing higher highs. A quadruple top near 14050 and a repeatedly overbought RSI are a sign of exhaustion. After a halt at 13950 a...

The US Dollar Wins Amongst FX Majors

Markets Don't be blinded by market talks that US Treasury Secretary Yellen triggered yesterday's risk sell-off. Most of the intraday harm had already been done ahead of her comment that “it may be that interest rates have to rise somewhat to make sure our economy doesn't overheat”. She later stressed...

US Dollar Cools After Yellen’s Higher Rates Statement

US stocks wavered in the regular session and futures market as the market reacted to comments by Janet Yellen on interest rates. In an interview, she said that rates needed to start rising gradually to prevent the economy from overheating. She later walked back those comments and said that...

European Open: Indices Off To A Bad Start In May

It was a rough day for equity bulls yesterday, with several indices breaking key support levels amidst their worst level in weeks. Will today’s trade continue this trend? Asian Indices: Australia's ASX 200 index rose by 44 points (0.62%) and currently trades at 7,111.90 Japan's Nikkei 225 index has risen...

Kiwi Rebounds on Strong Job Data, Dollar and Yen Soften

Trading continues to be relatively subdued in the forex markets. US Treasury Janet Yellen's comments prompted selloff in stocks overnight. But reactions in currencies were just mild, with most pairs and crosses range bound. Strong job data from New Zealand is giving the Kiwi a lift, while Aussie is...

NASDAQ tumbled on Yellen’s rate remarks

US closed mixed overnight, but notable decline was seen in NASDAQ. The selloff came after Treasury Secretary, former Fed chair, Janet Yellen said that "it may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat, even though the additional spending is...

Elliott Wave View: DAX Looking To Find Buyers Soon 

Short term Elliott wave view in DAX suggests the rally from January 28, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from January 28 low, wave 1 ended at 14169.49 and pullback in wave 2 ended at 13664.71. The Index extends higher in wave...

Market Morning Briefing: Pound Is Likely To Remain Within 1.40-1.38 For The Near Term

STOCKS Dow has recovered sharply from the day’s low yesterday. But it needs a strong follow-through rise above 34000 to move up further from here and avoid the danger of falling below 33500. DAX has tumbled below 15000 and is now bearish to see 14500 and even 14000 in the...

Travel and Tourism Stocks Lift European Bourses; UK Manufacturing Activity Surges

European stocks are trading broadly higher on Tuesday for a second consecutive session, as reopening optimism keeps sentiment elevated. As vaccine rates ramp up in the region, confidence is growing over the economic recovery. News that the European Commission is taking steps to reopen the continent in time for the...

Market Update: Stocks Mixed, US Dollar Rebounds And Oil Extends Recovery

The markets have started May with a bit of volatility after yet another solid month for stocks and other risk assets in April. US equity indices have struggled for direction over the past few days, particularly the tech sector. European tech stocks have also struggled, while shares of travel...

Asian Markets Directionless

Asian equities are mostly flat Asian equity markets have opened in a sedate fashion today, mostly trading around each side of unchanged as volumes are muted by the China and Japan holidays. The somewhat confusing price action overnight in New York has left the region content to sit in wait-and-see...

The U.S. Stock Market Showed Mulitidirectional Dynamics Of The Main Indices

The Dow Jones index closed higher Monday based on signs of a faster economic recovery which pushed up several sectors, including energy, health care, and commodities. The Dow Jones Industrial Average rose by +0.70%, the S&P 500 was up by +0.27%, and the Nasdaq Composite was down by -0.44%. European stock...

When A Plan Doesn’t Come Together

US Manufacturing PMI underperforms Although the world loves it when a plan comes together, an opposite reaction occurs when it doesn't. Such was the case overnight when US ISM Manufacturing PMIs missed expectations quite noticeably. The headline print for April came in at 60.50, still expansionary but well below market...

European Open: RBA Hold, Gold Bulls Eye Break Of 1800

The RBA held interest rates at 0.1% and announced they will discuss whether to retail their 3-yr bond target. And gold appears poised to break above 1800 as bulls square up to this milestone level once more. Asian Indices: Australia's ASX 200 index rose by 37 points (0.53%) and currently...

Last Piece In The Puzzle

Major US indices traded mixed on Monday. Technology stocks lagged, while energy and mining companies led gains in New York. The common denominator in the Nasdaq's fall and the S&P500's rise was the revived inflation worries among investors. Warren Buffett's recent warnings about the ‘red-hot' economy has certainly brought the...

Market Morning Briefing: Aussie Has Risen Slightly Maintaining Above 0.77 For Now

STOCKS Dow and DAX continue to trade mixed and are stuck around 34000 and 15200 respectively. Dow has to get a strong follow through rise above 34000 to move up. DAX keeps alive the chances of seeing 15500-15700 before reversing lower. Nikkei and Shanghai are closed till Wednesday this week....

Dollar Gets A Second Wind Ahead Of ISM Data

Taper talk, mild risk aversion, and month-end flows reawaken the dollar Wall Street takes a minor hit but after a fantastic month All eyes on ISM survey today and RBA rate decision afterward Dollar strikes back A battle of narratives continues to rage in the forex market, with mounting signs...

A Mixed Monday For Asian Equities

Asia markets cautious in holiday-thinned trade Friday's price action on Wall Street was somewhat jumbled amid month-end rebalancing flows by institutional investors and taper-talk from Fed Governor Kaplan. On Friday, Kaplan said that there are excesses and imbalances in financial markets and the Fed needs to start discussing tapering. The S&P...

Asian PMI’s Can’t Lift Viral Gloom

The first trading day of the new month has seen the release of pan-Asia Pacific Manufacturing PMI's. The results have been positive and should go some way to assuaging the Covid-19 recovery fears that have weighed on the region in recent days. Although with China and Japan away today,...

SPX 500 Tests Resistance-Turned-Support

The S&P 500 consolidates recent gains as rebounding corporate profits raise investors’ risk appetite. Buyers are striving to hold above 4180 after they cleared the former supply zone. A rally above 4219 would open the path to a new high above 4300. However, a slide below could dent the short-term...

More Solid US Economic Data This Week

Market movers today Few key market movers are due for release today, but another strong US ISM manufacturing reading in April could help markets into an upbeat start to the week. Later this week the UK local elections, Bank of England and Norges Bank meetings and US jobs report...

Market Morning Briefing: EURJPY Came Off Slightly

STOCKS Dow continues to remain mixed around 34000. A sustained rise above 34000 is needed to avoid a fall below 33500. DAX remains below 15200 and can turn bearish on a break below 15000. Nikkei and Shanghai can fall within their sideways range this week. Both Nikkei and Shanghai are...

Week Ahead: Central bank Recap/Preview, the Recovery, and Jobs

More central banks this week with the RBA and BOE up next This weekend begins the month of May, and brings holidays on Monday in the UK, China, and Japan.  With a busy week to end April, including an extremely dovish FOMC and BIG tech earnings, the focus turns primarily...

US Open: Futures Fall, Inflation Jumps, Twitter Tanks

US futures point to a lower start on profit taking after a big week of earning. PCE inflation jumps to 2.3% YoY. Oil drops off two month high. US futures Dow futures -0.4% at 33900 S&P futures -0.5% at 4186 Nasdaq futures -0.7% at 13860 In Europe FTSE +0.35% at 6988 ...