(Tiper Stock Exchange) – Wall Street fell as global sentiment was hit by weekend protests in several Chinese cities, due to tight mobility restrictions in the country as COVID cases soar to record levels. According to some analysts, this could prompt a revision of the Zero-Covid policy, after hopes of an easing of this rigid position had arisen earlier this month.
Crude prices have plummetedon the prospect that rising COVID-19 cases will lead to more movement restrictions, with effects on demand of oil, even if the quotations then recovered.
It is valued on the American market the trend of sales in the last few days of holidays (from Thanksgiving to Cyber Monday to Black Friday). According to a report from Adobe Analytics, spending on the Cyber Monday (the largest online shopping day in the US) is expected to reach a record $11.2 billion, up 5.2% as inflation-sagged consumers postponed Christmas shopping for weeks in hopes of strong post-Thanksgiving discounts.
On the monetary policy front, the words of the St. Louis FED president are being monitored James Bullard and the president of the New York Fed John Williams, who talk throughout the day. The president of the FED will also speak on Wednesday Jerome Powell.
The day is devoid of macroeconomic data significant, other than factory activity in the District of Dallas in November 2022 (which remained in negative territory). The highlight of the week will be the employment report in the United States on a Friday (for November). Indeed, it will be the last report on nonfarm payrolls before the FED meeting in December.
Among the company announcements, Yahoo and Taboola (advertising and content recommendation company) have entered into a trade agreement exclusive for 30 years. The partnership will be able to generate more than $1 billion in annual revenue and Yahoo will receive just under 25% stake in Taboola.
It’s moving into negative territory Appledue to the growing workers unrest in the largest iPhone factory of the world (located in China) and which have fueled concerns about backlash to the already limited production of high-end iPhone 14 models.
Weak session for the US listing, which shows a drop of 1.01% on Dow Jones; along the same lines, down theS&P-500, which reaches -1.08%. Down the NASDAQ 100 (-1.02%).
Between macroeconomic quantities most important of the US markets:
Tuesday 11/29/2022
3pm USA: FHFA House Price Index, Monthly (previously -0.7%)
3pm USA: S&P Case-Shiller, annual (14.4% expected; previous 13.1%)
4:00 pm USA: Consumer confidence, monthly (previously 102.5 points)
Wednesday 11/30/2022
1:15 pm USA: Occupied ADP (Expected 203K units; Previous 239K units)
2.30pm USA: Wholesale inventories, monthly (previously 0.6%).