Stocks are sliding to start the week as traders remain on edge ahead of Thursday’s US CPI print. Risk assets have struggled lately as markets once again are forced to digest the prospect that a Fed pivot is not imminent. With Fed Chair Jerome Powell not changing his tune from Jackson Hole, subsequent Fedspeak has reiterated the hawkish intent of the FOMC. Equities still continue to tread water as rates and FX markets continue to flash warning signs.
This week sees a significant amount of event risk, as traders will look to navigate Thursday’s US CPI print and the first wave of corporate earnings. While the market will likely be volatile into and after CPI, the market is effectively priced for 75 basis points in November, and the bar remains extremely high for this to change. Friday sees Citi, JP Morgan, Wells Fargo, and Morgan Stanley all report earnings.
With YTD lows for ES firmly in sight, poor sentiment and continued expectations of a hawkish Fed may see ES trade down to major Fib support around 3500. As interest rate volatility remains elevated, it remains difficult to see a period in which equities can mount a sustained rally. When your rallies are caused by short covering, it is safe to say your markets are under serious pressure.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks soar, yields slide on hints of cooling economyWATCH: Global stocks climbed for a second day on Tuesday, after Britain's decision to ditch part of a controversial tax-cut plan and slightly paler expectations for aggressive central bank action returned some confidence to investors Posting a week old news 3 min ago? These people need to find other jobs for real!! Global stock prices driven this week by Fed interest rate expectations NOT Britain's minor tax changes. Reuters stop posting rubbish.
Source: Reuters - 🏆 2. / 97 Read more »
Top Wall Street analysts pick these stocks as the market grows increasingly uncertainTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Apple & Amazon.
Source: CNBC - 🏆 12. / 72 Read more »
These stocks are sharply growing earnings despite the economic slowdown, and analysts love themCNBC Pro set out to find which stocks could still do well in this environment of muted overall earnings growth and increasing odds of a U.S. recession.
Source: CNBC - 🏆 12. / 72 Read more »
Australia stocks fall more than 1%; Japan, South Korea markets closedAustralia stocks fell more than 1% on Monday morning on a quiet day in the region, with a few major markets closed. Everyone’s economy is doing terrible
Source: CNBC - 🏆 12. / 72 Read more »
Goldman says these 'cheap' global stocks are set to win in the short and long-termGoldman Sachs said the absolute and relative valuations of these companies look cheap compared to history. SPAM Which Goldman research article is this based on? Thank you. weizent
Source: CNBC - 🏆 12. / 72 Read more »
Hong Kong Stocks Drop 2%; China Markets Lower After Golden Week HolidayShares in the Asia-Pacific fell on Monday, with Hong Kong’s Hang Seng leading losses.
Source: NBCDFW - 🏆 288. / 63 Read more »