(Finance) – Wall Street moves in mixed fashion after Thursday’s massive rally, when the major indices posted their biggest hikes since April 2020, the first rebound after the panic-driven sell-off. The Dow jumped more than 1,200 points, the S&P was up 5.5% and the Nasdaq about 7.4%. This followed the publication of the US inflation report of October, which turned out better than expected and at its lowest level since January, suggesting that consumer prices may have peaked in June. Positive news also came overnight from China, which said it would ease some anti-Covid measures.
Today, it is above all the Nasdaqgiven that better than expected inflation has hopes that the US central bank will slow the rate hike path encouraged at the December FOMC meeting, with markets now expecting a 50 basis point hike.
“However – notes Mark Dowding, CIO of BlueBay – the labor market remains resilient, as evidenced by last week’s payroll report, and poses a threat to a secondary boost to inflation if wages begin to accelerate. ” easing of financial conditions and strengthening of equities, Fed chairman Powell may still be reluctant to confirm a pivot too soonfor fear of prematurely closing the upside cycle “.
The day is devoid of quarterly relevant. Spica Toastas the management of the restaurant management software company increased revenue guidance for the full year as new locations and strong user revenue boosted Q3 results.
Several titles are powered by analysts recommendation. JPMorgan lowered the judgment on Intel to underweight from overweight, citing increased competition. Deutsche Bank improved the recommendation on Walgreens to buy from hold, stating that the stock could rise by 30%. Jefferies has initiated coverage on Roku with a hold judgment, stating that its growth potential could be mitigated by a challenging macro environment.
L’FTX cryptocurrency exchange has started the procedures for declaring bankruptcy in the United States, the so-called Chapter 11, according to a statement from the company posted on Twitter. Within days, the company Sam Bankman-Fried founded went from a $ 32 billion valuation to bankruptcy due to lack of liquidity. In recent days, rival Binance has made a quick turnaround on its non-binding agreement to purchase the troubled company.
The Dow Jones shows a drop of 0.41%; instead, theS & P-500; a sharp increase on Nasdaq 100 (+ 1.37%).
Among macroeconomic appointments which will have the greatest influence on the performance of the US markets:
Friday 11/11/2022
4:00 pm USA: University of Michigan Consumer Confidence (expected 59.5 points; preceded 59.9 points)
Tuesday 11/15/2022
14:30 USA: Production prices, monthly (expected 0.2%; previous 0.4%)
14:30 USA: Production prices, annual (expected 8.4%; previous 8.5%)
Wednesday 16/11/2022
14:30 USA: Import prices, monthly (previous -1.2%)
14:30 USA: Retail sales, annual (previous 8.2%).