Cryptos: All News & Analysis

We continue to drift into year-end with investors having little to cling onto that's going to drive markets one way or another. That is so often the case this time of year and while 2022 could have been different, given how chaotic the rest of the year has been, it has proven to not be the case. Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe.

29-12-2022 06:48 GMT by Craig Erlam

An eye on the New Year

We're seeing choppy trade in financial markets on Wednesday in what is always quite thin trade as traders continue the festivities into the new year. And there's certainly a strong sense of holiday trade to the markets today, with light news flow combined with lower liquidity creating choppy but ultimately insignificant moves. It very much feels like we're now just drifting into 2023 at which point I expect things will quickly pick up again. The key trading themes will continue to dominate in ea

28-12-2022 12:40 GMT by Craig Erlam

Week Ahead - Happy Holidays!

US Thin trading conditions could persist as much of Wall Street will be taking off this week. While trading volumes might be lower it will be a week filled with lots of economic readings. There will be no earnings and no Fed speak. On Monday, US markets will be closed to observe the Christmas holiday. Tuesday contains several economic releases that are expected to show the economy is weakening. Wholesale inventories in November are expected to increase at a slower pace, both the October

23-12-2022 12:05 GMT by Edward Moya

Mid-Market Update: Mixed Economic Data keeps stocks volatile, Oil rallies as Russia hints at output cut, Gold rallies, Cryptos edge higher

US stocks pared earlier losses as traders digest a wide range of mixed economic data that overall supports the story that inflation is coming down. Wall Street had a tale of two rounds of economic readings. The first wave, before the opening bell showed CAPEX is weakening and softer consumer demand. The second round of data was rather upbeat as consumer sentiment improved and inflation expectations dropped even further. New Home Sales also unexpectedly improved, but no one is betting that th

23-12-2022 11:06 GMT by Edward Moya

US Close: bye-bye Santa rally, grinch selloff is here to stay, US data, Micron gloom, oil wavers, gold drops, cryptos lower

The Grinch selloff is firmly in place after Micron delivered a gloomy outlook and as better-than-expected US economic data supported the Fed's case for more ongoing rate increases. Global coordinated central bank tightening has yet to fully impact most of the economic readings for the major economies and that should have investors nervous over earnings downgrades and credit risks. US data Following another round of economic data, the US economy doesn’t look like it wants to head into a reces

22-12-2022 14:01 GMT by Edward Moya

Stocks embrace confidence data and earnings, return of confidence, earnings impress, cryptos edge lower

US stocks are rallying after consumer confidence bounces back and on strong earnings by Nike and FedEx. The news was too good today and that has made the many Grinches on Wall Street tentatively throw in the towel. Return of Confidence Today’s consumer confidence reading is a head-scratcher for people expecting the economy to quickly fall into a recession.

21-12-2022 13:10 GMT by Edward Moya

Stocks to try end slide, BOJ stuns markets, housing weakness, modest crypto gains

US stocks are attempting to snap a four-day losing streak even as hopes for a Santa Claus rally fade away. The BOJ's yield pivot sent the dollar tumbling which gave all risky assets a little jingle.

20-12-2022 12:44 GMT by Edward Moya

Musk out, German IFO survey, homebuilder sentiment, oil edges higher, gold wavers, cryptos lower

US stocks were unable to hold onto gains as recession worries run wild and as global bond yields surge higher after former Fed’s Dudley pushed back on expectations that the Fed will blink once the unemployment rate starts to climb higher. Also supporting the move higher in yields was the surge with gilt yields as investors unload the holdings of UK debt ahead of the BOE’s January bond sales.

19-12-2022 14:37 GMT by Edward Moya

US Open: Stocks lower as economy weakens, US data, Goldman layoffs, oil slumps, gold’s bad week, crypto audits

US stocks are declining as investors can’t shake off all the hawkish rhetoric that came from central bankers this week and as the private sector clearly entered a strong downturn. Monetary policy has quickly gotten restrictive now that the Fed has raised rates by 400 basis points in 9 months. Recession risks will only grow now that Powell has signaled that we should expect ‘ongoing increases’. Global bond yields are rising after central banks delivered another round of tightening and mostly si

16-12-2022 10:55 GMT by Edward Moya

Playing the Grinch

Stock markets are going into the festive period in a downbeat mood, as central banks this week reaffirmed their commitment to raising rates. The prospect of a Santa rally is fading as we near the end of 2022, very much in keeping with how the rest of the year has unfolded. Going into December, there was growing optimism that policymakers could be a source of optimism going into the new year but instead, they've taken on the role of grinch, bringing a swift end to the celebrations. Considering th

16-12-2022 07:34 GMT by Craig Erlam

Tightening Thursday (ECB & friends), US data/surveys, labor market refuses to break, oil slumps, gold lower on strong dollar, bitcoin follows broader market

US stocks didn’t stand a chance today after digesting a hawkish FOMC decision and a round of data/surveys that support the argument that the economy is recession bound. The labor market might not be breaking but it is becoming clear the consumer is weakening and manufacturing activity is in a recession. US retail sales posted the largest drop in nearly a year.

15-12-2022 12:41 GMT by Edward Moya

CPI React: Stocks surge on cool inflation report, bitcoin nears $18k

US stocks embraced a very cool inflation report that supports the idea that the Fed could be done with hiking rates after the February FOMC meeting. The Fed might not have to take rates to 5.00% or higher and that is surprising news for stock traders. Fed tightening is looking like it will just need a half-point increase tomorrow and a 25bp increase in February.

13-12-2022 10:34 GMT by Edward Moya

Mid-Market update: Stocks waver post PPI and UMich survey, oil jumps as Putin considers output cut, gold shines, bitcoin anchored at $17k

US stocks are settling higher after a mixed round of pricing data seemed unlikely to change what the Fed will do next week. Stocks are finishing a down week on a positive note as expectations remain high that the Fed will downshift to a slower pace. Inflation is heading lower but we won’t know for a couple quarters if more tightening will be required by the Fed. For now, investors appear confident that the Fed will stop tightening once the terminal rate peaks around the 5.00% to 5.25% levels.

09-12-2022 12:37 GMT by Edward Moya

Stocks poised to snap 5-day losing streak, Jobless Claims, Bitcoin seesaws around $17,000

US stocks are rebounding as investors await a key round of pricing data points that could tilt the scales over how much more tightening the Fed will do in the February policy meeting. It looks like this losing streak for stocks will end not because of positive catalysts but on exhaustion from this 5-day losing streak. Jobless claims didn’t really tell us anything new but some investors were excited over an analyst upgrade given to Boeing’s stock. Wells Fargo increased their Boeing price targ

08-12-2022 14:07 GMT by Edward Moya

A bit flat

Equity markets look a little flat on Thursday, perhaps a sign that we've entered into a waiting period ahead of some major data releases and central bank meetings. This month was always effectively split into two dominant weeks, the first of the month which included the jobs report that proved extremely impactful. And then next week when we get a flurry of interest rate decisions and some big data releases.

08-12-2022 05:11 GMT by Craig Erlam

Stocks lower on rising risks, Putin talks nuclear, Warnock wins, cryptos decline

US stocks declined as investors fixated over how bad of a recession will hit the US economy and weighed on geopolitical risks. The economy is entering slowdown mode as final Q3 nonfarm productivity data was revised higher and labor costs were significantly revised lower. Yield curve inversion deepens and nears a four-decade low which is clearly setting up this economy for a recession that won't be a mild one.

07-12-2022 15:30 GMT by Edward Moya

Stocks down on recession worries, Apple Car delays, bitcoin flat

US stocks edged lower on recession worries and as more CEOs voice concerns about the downturn that is coming. Layoff announcements are becoming more noticeable as Morgan Stanley is expected to cut about 2% of its global staff and BuzzFeed announced plans to reduce its workforce by 12%. Goldman Sachs CEO Solomon warned of ‘bumpy times’ and that activity levels will likely be constrained in a ‘tougher economic environment.’ JPMorgan CEO Dimon focused on the possibility of a ‘mild to hard’ rece

06-12-2022 16:28 GMT by Edward Moya

Wind out of the sails

Stock markets are making small losses on Tuesday, while US futures are relatively unchanged ahead of the open. The recovery rally has lost momentum in recent sessions which is understandable after that jobs report. That's not to say optimism can't and won't return but that wages component was a huge body blow.

06-12-2022 10:14 GMT by Craig Erlam

ISM Service Index sends stocks lower, Crypto volatility

US stocks are declining as Wall Street debates whether this bear market rally has finally come to an end. With the exception of an inflation-fueled ISM Services index, it should be relatively on the data front until Friday’s one-two punch of PPI and the University of Michigan report.

05-12-2022 16:13 GMT by Edward Moya

A nervy start to the week

What could have been a really positive week for equity markets is off to a much more nervy start, with stocks in Europe treading water and US futures slightly lower. The US jobs report on Friday was red hot once more, extinguishing any hope that investors could hop aboard the Fed pivot train and ride stock markets higher into year-end. Perhaps it's not quite so dramatic but it was a real setback, something we should be used to by now. The wages component was the killer blow.

05-12-2022 09:02 GMT by Craig Erlam

Cryptos: all news & analysis