NAS100 Rebounds After 1+ Year Lows, Still in Bear Territory
The index is harmed by the Fed’s aggressive tightening path and recent underwhelming tech sector earnings, but rebounds today after hitting the lowest level since November 2020
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The index is harmed by the Fed’s aggressive tightening path and recent underwhelming tech sector earnings, but rebounds today after hitting the lowest level since November 2020
Stocks are under pressure following the Fed press conference last Wednesday. Fed Chair Powell took 75bps off the table for the next two meetings, and the market is now questioning this, given the rampant inflation.
The Dow Jones Industrial Average (DJI) jumped 2.8% yesterday after Fed Chair Jerome Powell said that the FOMC wasn't actively considering a 75bps hike. Instead, he suggested that 50bps was on the table for the next two meetings. This dovishness came after the Fed delivered a 50bps increase, in line with market expectations. It also clarified its balance sheet reduction, starting with $47.5bn/month in June and increasing over three months…
The US30 is looking fragile ahead of today's cash open.
The retail and tech giant reported poor results on Thursday after market close and posted its first net loss in seven years, weighed by its stake in EV maker Rivian
Facebook parent company, Meta, released mostly mediocre Q1 results after market close on Wednesday, but there were some bright spots that lift the stock
Google parent, Alphabet, is taking a hit as forecast growth rates moderate.
The social media firm announced that it has agreed to be acquired by an entity wholly owned by Elon Musk and become privately held
The market is waiting on an announcement after the Twitter board, and Elon Musk met over the weekend. Twitter is due to report its Q1 results on Thursday.
The US30 has retraced to its 61.8% level. It is looking formidable.
The EV giant delivered solid results for the first quarter of the current year on Wednesday and expects growth in this year’s deliveries, despite supply chain challenges
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