We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.16%, while traders in USD/JPY are...SPX Faces a Host of Challenges as Recovery Hopes are Dashed by Rising US Yields and Poor Tech Earnings.
Elevate your trading skills and gain a competitive edge. Get your hands on the US Equities Q4 outlook today for exclusive insights into key market catalysts that should be on every trader's radar.Google parent Alphabet fell around 8.7% as the company’s cloud business continued to slow. In contrast Microsoft saw a rise in its share price of around 2.3% after it beat estimates. Alphabet is now on course for its largest one-day drop in market value ever following todays earnings release.
The US 10Y note is rising at its fastest pace since 1980, with the last 3 years seeing the 10Y note yield rise by some 400bp. To put this into context during the 2008Looking ahead and it appears that for now the ground offensive into Gaza is on hold which has somewhat put Geopolitical risk on the back burner. This is likely to remain short-lived however and should be monitored moving forward.
There is a bit of support on the downside with 4168 the first area of interest as it was the May 31 swing low before the 4120 mark comes into focus. Quite a bit of hurdles for the SPX to navigate if it is to return to the 4000 mark in the coming days and weeks.Looking at the Nasdaq 100 and the selloff has been more severe as the largest losses for the day appear to be coming from Megacap tech stocks.
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