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Chair Powell’s speech sparked two-way action and consolidated the recent market-alignment with the Fed’s projected terminal rate, but we did not really get anything that new nor overly hawkish and NAS100 retains its bullish bias
FXCM’s DAX cfd, GER30, has charted a strong bullish reversal pattern.
After Friday’s blowout employment report, markets are now pricing a higher Fed terminal rate, which weighs on the stock market, along with recent mostly poor tech earnings and US-China tensions
The tech index builds on Wednesday’s gains as the Fed pointed to more tightening, but appeared less aggressive, while Meta Platform’s results spurred optimism
The potential for a wage spiral seems exaggerated. The employment cost index is 1.0% q/q. This is lower than the forecast of 1.1% q/q and the previous 1.2% q/q. Tomorrow, the Fed will hike by 25bps and release its statement. The lower than anticipated costs will be welcomed by the central bank.
The index slides as markets gear up for the Fed’s policy decision and earnings reports from tech heavyweights such as Meta, Apple, Amazon and Alphabet
The German index is soft with the economy contracting in Q4 according to today’s preliminary data, but heads to the end of an impressive month, as markets brace for Thursday’s policy decision by the ECB
Core PCE for December has continued to moderate, printing at 4.4% y/y. This is down from 4.7% y/y in November. The series has charted a lower peak (LP) followed by a lower trough (LT). This is a downtrend. Its momentum is defined by the green down-sloping trend line.
Tesla’s record revenues and overall strong financial results helped Wall Street yesterday, but SPX500 is cautious today as markets brace for the PCE Inflation update
International stocks are performing better than their US counterparts. This outperformance has been since Q4 last year. In this article, we use GER30 as a proxy for international equities and refer to the US30, the best performing US large-cap index.
The US index is cautious after its two-day rally, as markets expect earnings from tech giant Microsoft and EV king Tesla
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