Economic Updates
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 ...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
US stocks rally as banking sector fears ease, USD and Gold down, Yields up
US markets rose modestly in Mondays session on a more positive tone in the banking sector following on from the UBS – Swiss government bail out of Credit Suisse over the weekend and hopes US banking regulators would backstop deposits to restore confidence in US mid-sized banks. We saw green across all major indexes, the NASDQ being the lagged ...
The week ahead – SNB, Federal Reserve and BoE rate decisions
US and European markets dropped steeply on Friday as investors remained shaken by the fallout of bank collapses in the US and the issues at Credit Suisse ahead of a pivotal week in Central Bank policy meetings. Over weekend a SNB brokered deal a deal was announced that UBS will buy rival Credit Suisse for 3 billion Francs and agreed to assum...
Bank bailouts see markets bounce, ECB surprises with big hike
Thursdays US session was risk on led by global banking support after SNB gave a lifeline to Credit Suisse while 11 large US banks stepped up to help First Republic (FRC). In spite of the backdrop of recent bank turmoil the ECB hiked 50bp surprising the market that had priced in a 25bp hike. Even though the size was larger than expected (though...
Stocks and Oil hammered, Gold and Bonds rally on Credit Suisse woes
US indexes finished in the red today with the exception of the Nasdaq which eked out a small gain as banking fears spread to Europe. Shares of Credit Suisse plunged to all time lows on fears of the banks financial position and after a top investor in the form of the Saudi National Bank ruled out any further financial help for the bank. US Stocks...
