Tuesday, July 16, 2024
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Market News – Fed Rate Cut Probability Falls, Stocks, Oil, Gold Under Pressure

by xyonent
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Economic Indicators and Central Banks:

Nvidia is bigger than the entire stock market – its market capitalization is currently larger than Australia, South Korea and Russia.

  • large-scale NVIDIA beatrally together 9% On that day, The close failed to reinvigorate the upside.It could not support the major indexes.
  • Wall Street: Profit-taking investors who had taken advantage of recent record highs to sell off some stocks spoiled the party, further fueled by fading hopes of a Fed interest rate cut.
  • US economic activity is strong: Strong PMI, grim jobless claims numbers, weak home sales and soaring home prices have further dampened expectations of a Fed rate cut. Released U.S. employment data showed new jobless claims slightly lower than expected, suggesting the economy is holding up despite high interest rates. The data, Fedspeak and FOMC minutes raise doubts about whether officials have enough evidence. Start reducing disinflationary trends Rates will be increased by September.
  • it is Today’s bond was sold early. And as traders take positions, trading could accelerate. Long Memorial Day weekend.

Asian & European Open:

  • Asian Stocks fell today, following Wall Street’s decline.
  • Chinese The authorities 300 billion yuan ($42 billion) loan package To help buy back properties from debt-ridden property developers in the country.
  • Japan: Inflation slowed for a second straight month in April, making it difficult for the Bank of Japan to tighten monetary policy further. A weaker yen and higher oil prices could push inflation higher.
  • BOE UK Consumer confidence recovered but retail sales were sluggish. Bank of England That means businesses will have a harder time passing on rising labor costs to prices, lowering the risk of a wage-price spiral, and strengthening the argument for an early rate cut, even as recent data shows headline inflation is not falling as quickly as hoped.

Financial Market Performance:

  • of USD Index It has strengthened its foothold by competing against the G10 for five consecutive days.
  • lb UK retail sales fall, GBPUSD in 1.2670.
  • oil They fell after hitting a three-month low as the market showed signs of weakness ahead of the U.S. summer driving season. Money The dollar remains weak2337,Third day.

Market trend:

  • of Dow Boeing was down more than 7%, down 1.5% to 39,065. Live Nation fell sharply after the Department of Justice filed suit seeking to sell Ticketmaster. S&P 500 It fell by -0.74% to 5267. Nasdaq It fell 0.39%.

click here Access the economic calendar

Andrea Piccidi

Market Analyst

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