Tuesday, August 9, 2022

Market US/Fixer – Weak data fuels interest rate fears

NEW YORK (DOW JONES) – Indices in the US stock markets posted heavy premiums on Thursday. He extended his previous day’s profit when the price experienced a real rally. While unexpectedly weak economic data fueled concerns about the economy, it raised hopes that the US Federal Reserve may slow the pace of interest rate hikes.

The Dow Jones index rose 1 per cent to 32,530 points, the S&P 500 1.2 per cent, while the Nasdaq Composite gained 1.1 per cent. On Nyse, 2,433 (Wednesday: 2,728) value winners were counted, they faced 797 (509) losers – 132 (121) titles closed unchanged.

Fed Chairman Jerome Powell’s statements were interpreted the day before the interest rate decision, giving shares a boost. Meanwhile, disappointing business data and pessimistic outlook of major companies have made it clear to investors that the prospects of the domestic economy are not at all good. it reduced the fear of being bullied Monetary policy,

Under the day’s economic data, GDP declined 0.9 percent in the first quarter, while economists had forecast a 0.3 percent increase. The US economy has thus slipped into a technical recession after a fall in GDP in the first quarter. Initial jobless claims numbers fell less sharply than last week, and the week’s earlier value was revised upwards.

quarterly report with light and shadow

The list of companies that have submitted their quarterly reports is very long. Of these, Honeywell (+3.7%) reported declining profits, but earned more than expected. Merck & Company (-1.5%) and Pfizer (-2.5%) also exceeded expectations. Pfizer also achieved record sales. However, there are fears that drugmakers’ profits could be squeezed if Medicare is allowed to negotiate drug prices with drug makers.

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Mastercard (+2.7%) reported a significant increase in sales and profits. The credit card company reported that high inflation has not slowed consumer spending so far.

Facebook parent meta (-5.2%) reported declining sales for the first time; Profits have dropped significantly. The view was also disappointing.

Qualcomm (-4.5%) also gave a relatively cautious outlook, but surprisingly saw a significant increase in its profit in the last quarter.

Ford (+6.1%) reported stronger-than-expected sales and profit growth.

After the closure of the market, the figures of giants like Amazon, Apple and Intel have come out.

A political decision helped a jump in the price of shares in the solar industry. Senator Joe Manchin of the Conservative wing of the Democrats has now approved the US government’s $369 billion climate protection package. Sunnova Energy jumped up to 30 percent, also supported by good company figures. First Solar was up 15 per cent and SunPower by 18 per cent.

Dollar recovers – ING looks likely to rise

The dollar was still down after the shock following the US Federal Reserve’s interest rate decision. Analysts at ING believe the dollar is gaining momentum, albeit with higher volatility, as it is now more sensitive to economic data. Global economic weakness and geopolitical risks are likely to support the dollar as a safe haven in times of crisis.

The bond market, considered a safe haven, experienced sharp growth, reflected in falling yields. Gold prices also rose on expectations of more caution in interest rates.

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The price of oil is trending inconsistently. While the internationally traded Brent variety showed a slight increase, the American variety WTI was slightly negative. Traders reported volatile trading amid fresh bearish concerns.

,

Index Final +/-% Absolute +/-% YTD

DJIA 32.529,63 +10 % 332,04 -10,5%

S&P-500 4,072.43 +1.2% 48.82 -14.6%

Nasdaq-Comp. 12.162,59 +1,1% 130,17 -22,3%

Nasdaq-100 12,717.87 +0.9% 116.40 -22.1%

US bonds

Term Yield Bp to VT Yield VT +/-Bp YTD

2 Years 2.87 -14.9 3.02 214.1

5 years 2.69 -15.1 2.84 143.3

7 years 2.70 -14.6 2.84 125.6

10 years 2.67 -12.1 2.79 115.8

30 Years 3.01 -5.5 3.07 111.2

Forex Last +/-% Thu, 8:51h Wed, 17:25% YTD

EUR/USD 1,0188 -0,1% 1,0209 1,0126 -10,4%

EUR/JPY 136.75 -1.8% 138.35 138.32 +4.5%

EUR/CHF 0.9728 -0.6% 0.9796 0.9753 -6.2%

EUR/GBP 0,8372 -0,2% 0,8394 0,8421 -0,4%

USD/JPY 134,22 -1,7% 135,51 136,60 +16,6%

GBP/USD 1,2168 +0,1% 1,2164 1,2024 -10,1%

USD/CNH (Offshore) 6,7434 -0,0% 6,7438 6,7691 +6,1%

Bitcoin

BTC/USD 23.827,73 +4,8% 23.151,18 20.837,45 -48,5%

Rohoel final VT-settled. +/-% +/- USD% YTD

WTI/Nymex 97,14 97,26 -0,1% -0,12 +35,8%

Brent/ICE 107,54 106,62 +0,9% 0,92 +43,6%

Gas VT off +/- Euro

Dutch TTF 201,40 205,00 -1,9% -3,83 +240,2%

Metals Last Day +/- % +/- USD% YTD . before

Sleep (spot) 1.755,58 1.734,14 +1,2% +21,44 -4,0%

Silver (Spot) 20.00 19.18 +4.3% +0.82 -14.2%

Platinum (Spot) 892.45 890.10 +0.3% +2.35 -8.0%

Kupfer-future 3,48 3,43 +1,4% +0,05 -21,6%

YTD at the end of the day

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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