Futures fall after key averages open lower.

Stock futures dipped Tuesday morning after the BOJ widened its yield target range.

Dow futures fell 236 points (0.72%). S&P 500 futures lost 0.86 and 1.05 percent.

The Dow fell 162 points, or 0.5%, on Monday. S&P 500 declined 0.9% and Nasdaq Composite lost 1.5%. Stocks are set to conclude the month and year in the red, and investors' dreams for a Santa Claus bounce are evaporating.

No Santa yet. Louis Navellier, founder of Navellier & Associates, remarked, "buckle up." "One hopes the awful news is over. No Fed moves until February. We're not gapping down but not recouping last week's losses."

Investors feared the Fed may cause a recession. The central bank boosted its benchmark interest rate by 50 basis points last week and said the terminal rate might reach 5.1%.

The European Central Bank raised rates and forecast future hikes last week, further pressuring traders.

Over 90% of central banks raised interest rates this year, a (largely) global coordinated effort, said LPL Financial's Lawrence Gillum. What's good? We think rate hikes are nearing a halt, which might reduce the headwind on global financial markets this year.

This week, before Christmas, several significant firms will publish quarterly results. General Mills reports Tuesday. Nike and FedEx post-bell.

Tuesday brings November housing starts data. This week offers housing business knowledge. Existing-home sales data will be available Wednesday and Friday.

Friday is the Fed's favorite inflation metric, November's personal consumption expenditures data.

Comments

Argentina advances to the World Cup final in Qatar thanks to Messi brilliance.

The seats were full even before the athletes entered the field for pre-game warm-up. A fortunate 88,966 folks managed to secure the hottest ticket in town. They came to the magnificent Lusail stadium on Tuesday night to watch Argentina play Croatia. They had came anticipating to watch Lionel Messi, the small player with the number 10 on his Argentina shirt, put on another legendary performance. Fans attend Argentina's games in this tournament hoping to see Messi perform, and he did not dissapoint. Croatia set the pace for the first 30 minutes of the semifinal game, moving the ball around and attempting to disrupt the Argentinian set-up. The Albicelestes supporters weren't as rowdy as they had been during past games. Only the most ardent supporters dared to raise their voices since there was tension in the air. This reflectiveness was expected given that Croatia defeated the South Americans 3-0 in their World Cup match. Messi walked around for the majority of the opening 30 minu...

Asian currency bears retreat as the outlook for inflation improves.

According to a fortnightly poll of 12 analysts, short positions on all emerging Asian currencies fell, with bets on China's yuan at their lowest since late April. Short positions in the Philippine peso, Singapore dollar, and Indonesian rupiah all hit multi-month lows. An unchanged July inflation print in the United States, the first notable sign of relief after years of rising prices, also helped boost sentiment in the region. Short bets on the Thai baht fell to their lowest level since early June after the Bank of Thailand (BoT) raised its interest rate by 25 basis points on Wednesday, resuming its tightening cycle after trailing regional peers. Thailand, whose economy is heavily reliant on tourism, has begun to show signs of a gradual economic recovery as tourists return, allowing the BoT to adjust its monetary policy. Analysts widely anticipate that the BoT will maintain gradual policy normalisation throughout the rest of the year. The baht, one of the least shorted currencies...

Soft demand lowers China's producer prices and consumer inflation.

China's factory-gate prices fell for a second month in November, but consumer inflation slowed, reflecting poor activity and tepid demand in a pandemic-slowed economy. Analysts anticipate the government to maintain rates low and create confidence. According to Friday's National Bureau of Statistics (NBS) data, the producer price index (PPI) was down 1.3% from a year earlier. Reuters had predicted a 1.4% drop. The November CPI grew 1.6% from a year earlier, slower than October's 2.1% annual growth but in line with a Reuters survey. "These figures show economic momentum (continues) to decline," said Pinpoint Asset Management's Zhiwei Zhang. In 2023, the government will focus on stabilizing growth, boosting domestic demand, and opening up to the globe, according to a Politburo meeting on Tuesday. Zhang said the government would take further steps to boost the economy despite easing pandemic controls last week. "The Politburo highlighted low confidence as an ...

Meta Financies

Search This Blog