EUR/USD 1.16392
0.053%
Gold 4414.67
0.298%
Oil 93.483
-0.774%
USD/JPY 153.326
-0.145%
GBP/USD 1.35562
0.075%
GBP/JPY 207.856
-0.051%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 10th - The nations first comprehensive insurance product for foreign nationals entering the country was launched in Beijing today (September 10th). This insurance product focuses on the practical needs of foreign nationals entering the country for short periods, offering multiple protection services with a single purchase. It is reported that most current foreign national entry insurance products on the market are difficult to obtain for those over 70 years old, and there are also restrictions on insuring infants and young children. This product is jointly underwritten by three insurance companies, breaking age restrictions and allowing individuals from 28 days old to 80 years old to apply. The coverage is also more comprehensive than similar products previously offered by a single company.JPMorgan Chase: Launches coverage research on JD.com (JD.O), giving it an overweight rating and a target price of $38.JPMorgan Chase lowered its target price for Pinduoduo (PDD.O) from $110 to $95.September 10th - According to the Wall Street Journal, on Wednesday evening local time, Trump promised a $5,000 "bonus" to every American adult citizen if Republicans retain control of both the House and Senate in the November midterm elections. This could involve more than 200 million payments, totaling over $1 trillion (assuming no income restrictions). Where will the money come from? Trump hinted that the funds might come from tariff revenue, but his statement was not entirely clear. How will this be done without triggering a surge in inflation? This will spark heated debate. Will congressional Republicans support this plan? If this promise helps Republicans retain a majority in both houses of Congress in the midterm elections, Republican lawmakers may find it difficult to outright reject it.A policy board member from the Bank of Korea stated that the Bank of Korea will assess the situation to determine the pace and timing of tightening policy.

US open: Caution ahead of FOMC minutes

Alice Wang

Jul 08, 2022 15:14

微信截图_20220707143018.png

US futures

Dow futures -0.2% at 30617

S&P futures -0.85% at 3822

Nasdaq futures -0.3% at 11731

In Europe

FTSE +1.7% at 7140

Dax +1.6% at 12597

Euro Stoxx +1.55% at 3418

Stocks are declining

As caution reigns in advance of the publication of the minutes from the June Federal Reserve meeting, US markets are indicating a somewhat worse opening.


As investors worry about the effect of central bank action on growth, fears of aggressive monetary policy tightening have led markets down in recent weeks. The bond market's 10-year yield dropped below the 2-year yield, which is a classic recession indicator.


The minutes from the most recent Fed meeting will be released today, and they might provide more insight into the direction that short-term interest rates will go. The market will be watching for signs that the Fed will increase interest rates by 50 or 75 basis points in July. Watch out for any indications that the Fed would lower the rate of rises if symptoms of a declining inflation trend appear.

 

The FedWatch tool indicates that the markets are factoring in an 86 percent chance of a 75 basis point rate rise. Hawkish minutes might drive the stock market down, strengthen the dollar, and push gold back near $1722.


The ISM service PMI is forthcoming and is anticipated to decrease to 55.4 from 55.9 before to the minutes.


In business news, Apple stock will be in the limelight after Goldman Sachs lowered its price target and warned that, in the event of a longer recession, the stock might drop as low as $82. The share price would have dropped by 42% from present levels as a result.

What will the Nasdaq do next?

After regaining the 20 sna and resistance at 11700, the Nasdaq has once again encountered resistance at the multi-month declining trendline. At a neutral level, the RSI is not providing many hints. If the declining trendline is not retaken, the 20 sma may be challenged at 11600 before the June 30 bottom of 11300. Here, a break allows access to 11050, the 2022 low. However, a break above the declining trendline reveals the 50 sna at 12150 and resistance at 12225, the high from last week. A move higher than this results in a higher high.

Suggestion