NAS100 Regains the Initiative after Fed & NFPs Boost
The tech heavy index posted its best week in twenty months, boosted by the Fed’s dovish hold and the cool jobs report, overlooking Apple’s revenue slip
Page 5 of 28
The tech heavy index posted its best week in twenty months, boosted by the Fed’s dovish hold and the cool jobs report, overlooking Apple’s revenue slip
The UK index extended it gains on Thursday as the Bank of England held rates for second straight meeting, but eases today after hitting key technical levels
The tech heavy index rallied on Wednesday after the Fed kept rates unchanged and was more dovish than previously, but now awaits Apple’s earnings and the jobs report
HKG33 registered another losing month, dropping today after Chinese factory activity slipped back to contraction territory
The index closed last week in correction territory, as the quarterly results by tech giants were not enough to outweigh elevated yields, Fed risks and Middle East jitters, but rebounds today ahead of the Fed
The SPX500 has charted a series of lower peaks followed by lower troughs on its weekly chart. This puts the weekly into a defined downtrend. Importantly, the down trend’s trendline has shifted down from the green trendline to the orange trendline. This indicates that the downtrend is accelerating. It is not surprising to see the weekly RSI on the bearish side of 50 (green rectangle). The longer it maintains below…
Treasury yields are pulling back from their multi-year highs and the index finds some reprieve, turning now to earnings from tech giants like Meta and a series of high-impact economic releases
The index heads to a losing week due to elevated bond yields, Mr Powell’s speech where he kept the door open to more hikes and Tesla’s poor results that outweighed the strong report by Netflix
The US 10-year Treasury yield is trading at 4.97%, just shy of the psychological 5% level. This is likely to weigh on the stock market. In effect, the higher interest rates mean that yields on risk-free treasuries have increased making them compelling to investors. Even those sitting in cash will feel the benefit of the higher yields. Moreover, with these type of returns from yielding assets, it will discourage investing…
HKG33 is mixed as markets digest better than expected economic releases from China, BYD’s strong profit estimate and new export bans of AI chip for the US
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.