Cryptos: All News & Analysis

Stocks trade mix, BOE fearful of long recession, continuing claims rise, bitcoin stuck

Stocks continue to ignore the deepest yield curve inversion since the early 2000s. The S&P 500 index has rebounded over 13% from the June lows as many on Wall Street anticipate that the Fed will stop quantitative tightening next year and begin cutting interest rates. If the next couple of inflation and nonfarm payroll reports support the Fed pivot argument, we might stop hearing these bear market calls. Equities might struggle to keep the rally going as investors continue to see economic

04-08-2022 11:06 GMT by Edward Moya

BoE decision eyed as Fed cools reversal speculation

We're seeing a little more positivity in the markets after another lively week and there's still plenty to come as we get closer to the weekend. Fed officials have been out in force again; this time with a focus on market expectations of a swift reversal from rate hikes to cuts early next year. Both Mary Daly and Neel Kashkari were very clear that it's unreasonable to expect such a policy u-turn given the inflation environment, with Kashkari even saying he's not sure what markets are looking at

04-08-2022 05:39 GMT by Craig Erlam

Stocks bolstered by earnings and data, ISM impresses, Meme stock mania on steroids, Bitcoin nears top of range

US stocks rallied after a steady dose of impressive earnings and economic data. The economy doesn't look bad at all after strong earnings from Moderna, Gilead Science, CVS, Electronic Arts, Starbucks, and SoFi. The economic data broadly came in higher than expected as the service part of the economy seems to be stabilizing and price pressures are improving.

03-08-2022 14:02 GMT by Edward Moya

Bouncing back despite Fed warnings

Stock markets are a little higher after turning lower on Tuesday amid nerves over Nancy Pelosi's Taiwan visit. This week was already shaping up to be another rollercoaster ride and Pelosi's trip just added another layer of event risk for the markets. There will be hope following the initial response from Beijing that any escalation won't be too severe, although relations between the world's largest economies are clearly hugely strained and deteriorating. Compounding the moves in the markets yest

03-08-2022 09:44 GMT by Craig Erlam

US Close - Rollercoaster stock market after Pelosi arrives in Taiwan, Fed nowhere near done hiking, JOLTS miss, Oil rises, Gold lower on strong dollar, Bitcoin steadies

US stocks went on a rollercoaster ride as traders grew nervous over China’s retaliation over House Speaker Pelosi’s trip to Taiwan, a reminder from Fed’s Daly that their interest rate hiking cycle is nowhere near done, and further signs the labor market is cooling but still remains tight enough for the Fed to deliver a couple more rate hikes. China’s response to Pelosi’s trip to Taiwan could have an impact on supply chains and demand, which could keep the inflationary pressures going strong.

02-08-2022 17:14 GMT by Edward Moya

Nerves amid China warnings

We're seeing more risk aversion on Tuesday as Nancy Pelosi's trip to Taiwan generates numerous unsettling headlines at a time of strained ties between the US and China. US House Speaker Pelosi's proposed visit has been met with numerous threats from Beijing including an unspecified military response. They have continued this morning, hours ahead of the apparent arrival which is clearly making investors very nervous. Stock markets throughout most of Asia are in the red, with those in China, Hong

02-08-2022 04:50 GMT by Craig Erlam

A mixed start to the week

A mixed start to the week in Asia where Chinese PMIs dampened the mood as the reopening boost to activity quickly faded. The country was already facing an uphill challenge, to put it mildly, with regards to its growth target this year and the fact that manufacturing activity is slowing again doesn't bode well. While the non-manufacturing survey is much healthier, it also experienced a deceleration last month which further suggests the economy is struggling to get back to full strength. One posit

01-08-2022 04:00 GMT by Craig Erlam

US Close: Earnings and pivot hopium boost stocks, US data impresses, Oil rallies, Gold shines, Bitcoin nears $24k

Stocks rallied after robust mega-cap tech earnings, hopium that the Fed will pivot soon, and economic data that suggests the consumer is doing just fine. Apple Investors embraced Apple’s slight earnings beat with both the top and bottom line. The standout miss was Mac revenue which was the first decline of the pandemic, which was due to supply constraints and FX headwinds. The iPhone and services numbers were solid and will lead many to believe the consumer is still fine. The numbers out

29-07-2022 14:54 GMT by Edward Moya

Summer surge

Equity markets are ending another winning week in positive territory following a bumper few days of earnings, data and of course, the Fed. This week has delivered another 75 basis point rate hike, earnings and revenue misses for some of the biggest tech names and an unexpected recession that isn't a real recession in the world's largest economy. And yet, the way equity markets have responded, the week couldn't have gone much better.

29-07-2022 08:12 GMT by Craig Erlam

US economy contracts again, stagflation is here, stocks embrace idea of potentially less aggressive Fed, oil volatile, gold shines, bitcoin rallies

US GDP declines in Q2 The US economy is weakening much faster than anyone expected. The first look at the second quarter showed another negative reading, which was a surprise for most on Wall Street.

28-07-2022 15:13 GMT by Edward Moya

A debatable recession

It's been quite the 24 hours in financial markets, one I feel many will be trying to work out for many weeks to come. The Fed on Wednesday raised rates by 75 basis points, as expected, before leaving as many doors open as possible for September. Chair Powell and his colleagues went for a cocktail of hawkish data dependency with a dovish twist.

28-07-2022 11:33 GMT by Craig Erlam

Powell sparks buy everything rally

You had the feeling that Wall Street, with perpetually itchy buy-button trigger fingers, was primed for this FOMC. As expected, the FOMC raised the Fed Funds target by 0.75%, to a target range of 2.25%-2.50%.

28-07-2022 04:24 GMT by Jeffrey Halley

Fed React: Inflation commitment remains/ likely appropriate to slow increases, Stocks rally, Oil higher post EIA data/Fed/Iran nuclear deal stalemate, Gold shines, Bitcoin enjoys risk rally

US stocks extended gains after the Fed signaled that it will likely be appropriate to slow rate increases at some point. Now that traders see light at the end of the Fed tightening tunnel, the Nasdaq is starting to look like the cleanest dirty shirt in what looks like a 2023 recession bound economy.

27-07-2022 15:08 GMT by Edward Moya

Navigating an uncertain future

European stocks are modestly higher on Wednesday, while US futures are making slightly better gains on the back of tech earnings relief. We're in the midst of a critical 48-hour period for the markets and already there's so much to process. And that's before we even get to the Fed which is undoubtedly the headline event this week. Tech shares are expected to open strongly, with Microsoft and Alphabet both more than 3% higher in pre-market despite a rare miss on revenue and earnings.

27-07-2022 08:07 GMT by Craig Erlam

Stocks drop on soft data and string of cautious earnings outlooks, downbeat earnings, potential SEC probe on Coinbase sinks crypto

US stocks declined after a wrath of gloomy corporate outlooks made it seem like this current wave of growth concerns would send this economy quickly into a recession. Risk appetite is struggling here as European gas prices are skyrocketing, multinationals are complaining of a troubling macro environment, and consumer confidence plunges.

26-07-2022 14:58 GMT by Edward Moya

Pessimism creeping back in

We're seeing a little more pessimism in the markets on Tuesday as conditions remain choppy ahead of this evening's tech earnings and the Fed tomorrow. It's impossible to ignore what's to come over the next couple of days and the warning from Walmart has just added to some of the anxiety that was already evident. This earnings season will be anything but straightforward and we should prepare for some disappointments even against the backdrop of low expectations. The Fed has an extremely t

26-07-2022 12:59 GMT by Craig Erlam

Operation Hike to a hopefully a mild recession, Nord Stream flows to drop, cryptos drop

US stocks traded mixed ahead of both a pivotal week for corporate earnings and a Fed policy decision that will confirm its aggressive inflation-fighting stance. Investors won’t want to touch Nasdaq stocks until we hear from Alphabet tomorrow and if they don’t like what they hear they may wait to see Thursday’s massive results from Apple and Amazon provide any reasons to be optimistic with tech stocks.

25-07-2022 14:10 GMT by Edward Moya

Fed and earnings bring cautious optimism

A quiet start to what will otherwise be a lively week in financial markets with particular focus on the US as the Fed meets Wednesday and big tech report earnings. Stock markets are modestly in the green, with a fair amount of straw clutching at play once more. Earnings not being as bad as feared, the Fed only hiking by 75 basis points and China putting together a plan in the hope of averting the next wave of the property crisis is among the reasons being given for stock markets rising.

25-07-2022 08:56 GMT by Craig Erlam

FOMC week finally

Will FOMC opt for 75bp hike? This month has dragged on and seems to be lasting forever. One reason could be that it is my last full month as a keyboard warrior, toiling as the voice of reason as I try to make sense of the nonsense in the financial markets.

25-07-2022 04:21 GMT by Jeffrey Halley

Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

US stocks are under pressure as recession fears run wild as business activity contracts and the labor market shows signs of weakness. Wall Street is seeing mixed earnings as social media companies are seeing softer advertising revenues, the US consumer is struggling to pay their phone bills, while American Express says their premium customers are more resilient to inflation. The US consumer is quickly weakening and if the job market cools quickly, the market will start to fear a recession coul

22-07-2022 12:18 GMT by Edward Moya

Cryptos: all news & analysis