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CPI inflation rose yesterday, but the index managed to look past that and is upbeat today, as markets focus to the hottest IPO of the year, as chip-designer Arm is expected to begin trading publicly today
Market mathematics suggests that as the real yield appreciates, pressure is felt by the growth side of the market e.g., NAS100. However, this has not been the case for 2023. On the contrary, the NAS100 had charted an uptrend by the end of January this year, when is completed a higher trough (HT) followed by a higher peak (HP), and continued moving higher, even after the real yield started moving…
The index is having a losing week, reacting negatively to upbeat economic data, since they sustain prospects for further tightening by the US Fed
FXCM’s CHN50 basket offers some suggestion of contrarian price action.
August has been a month highlighting US large-cap stock resilience. The robust artificial intelligence led rally in US stocks ran into headwinds during August. But the month is ending with the major US indexes showing signs of durability.
HKG33 falls today as China’s factory activity contracted for fifth straight month and troubled property developer Country Garden warned of default, after massive H1 loss
Fed Chair Powell kept the door open to more hikes on Friday, but the tech heavy index shows resilience to the hawkish messaging, helped by Nvidia’s AI-Powered blockbuster results
Chinese stock markets jumped after authorities announced measures to boost capital markets, including a cut in the stamp duty on stock trades
With just a week left of the month, the NAS100 August candlestick (blue arrow) shows interesting price action. Initially, the month was bearish, with bears taking the index down to the month low of 14,555. However, the bears lost control at this level with the bulls taking over. The bulls have pushed price back up to the 15,350 levels and remain in control. We caution that the monthly candle is…
HKG33 is having a bad month with new 2023 lows, but finds support today, helped from the strong quarterly results of Chinese tech giant Baidu
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