Market News – Treasuries rallied, NASDAQ at new high, DXY lower after PPI pop

Market Trends:

  • Big tech climbed, however, boosting the NASDAQ 0.75% to a new all-time high of 16,511. The S&P500 rose 0.48% to 5246. The Dow advanced 0.3%.
  • Sony shares jumped by 12% after strong earnings, a stock split and a share buyback of ¥250bn ($1.6bn).
  • Tesla gained 3.3%. Tencent Holdings surged after the company’s revenue beat estimates , while Alibaba Group Holding Ltd.’s slid on a profit plunge, highlighting the growing divergence between China’s twin Internet powerhouses.

Market Analyst

Financial Markets Performance:

Economic Indicators & Central Banks:

  • JGB yields slipped, as markets paused amid a recent bond sell-off, awaiting a crucial US inflation report expected to influence the Fed’s short-term interest rate decisions. Remember, that typically yields  move inversely to bond prices.
  • US: Stronger than expected prints on PPI did not have the textbook effects on the markets. Interestingly, Treasuries and Wall Street rallied, while the US Dollar slipped. The guts of the report were not as worrisome as the headlines suggested, and the CPI is viewed as more important.
  • Global equities are set for a fresh record after a big tech-led rally in US gauges.

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منبع: https://analysis.hfm.com/786882/

Andria Pichidi

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