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 German index started the week on the front foot, but plunged yesterday as market sentiment soured, extending losses today as industrial production drops
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 German index recovers form fresh monthly lows and shakes-off worries around the supply of gas to Europe
The DAX bounce may have run its course as the index reacts off of crucial resistance.
As yields rise, pressure mounts on global indices, including the GER30.
The US30 has retraced to its 61.8% level. It is looking formidable.
The US tech index is soft today, on broader cautious market mood, while investors gear up for earning reports from Netflix today and Tesla on Wednesday
Shorts may take advantage of the CPI print to take profits. This covering may lead to risk market support.
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