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Wednesday’s accounts from the Fed’s last meeting confirmed the higher-for-longer narrative, but the tech-heavy index finds support, with the help of encouraging forward guidance by Nvidia
The FOMC minutes show that the Fed sees a slowing of inflation, which may support a peak in the federal funds rate this year. However, the minutes were penned before notable data. January’s jobs report was strong, showing an increase of 517,000 in nonfarm payrolls. Inflation was also higher than consensus, with the headline CPI printing at 0.5% m/m.
Markets fell yesterday, with the US30 declining 1.67% on the day. The decline shows concern regarding the Fed’s rate hiking path, with the “higher for longer” paradigm pricing in, as the flash PMIs came in hotter than expected.
Watch today’s US Open for commentary on the UK PMI beat that lifted GBP/USD, hawkish minutes by the Reserve Bank of Australia, the narrowing differential between the Fed and the ECB and more
Watch today’s US Open for commentary on the latest data from the US that put pressure on Wall Street, the lower than expected UK inflation and its impact on GBP/USD, the recent earnings releases and more
The tech-heavy index faces headwinds after yesterday’s US CPI inflation report and hawkish Fed remarks that support the recent more aggressive market expectations around the terminal rate
Watch today’s US Open for commentary on the just released US CPI inflation data and the reaction of EUR/USD and NAS100, insights on Disney’s recent quarterly results and more
During the current week of February 6-10, we had high-profile companies such as Disney, reporting their quarterly results, while tech giants threw their has into AI chatbot arena to rival ChatGPT
The entertainment giant lost 1 million subscribers in the last quarter and announced a restructuring plan, which includes cost and jobs cuts
The US30 chart is on the cusp of moving back into its bullish channel between the upper blue and red bands. A cross into this region is positive.
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