Robust Q1 earnings defy fading Fed cut bets [Video]
Tesla jumped 15% on Monday after Elon Musk’s surprise visit to China resulted in a partnership with Baidu’s maps and navigation features that cleared the way for Tesla’s full-self driving cars in China. The S&P500 advanced 0.32% while Nasdaq 100 gained 0.36% as the US 2-year yield remained a touch below the 5% level. The Federal Reserve (Fed) starts its two-day policy meeting today and deliver its latest policy verdict tomorrow. We are preparing to hear Jerome Powell ask for more patience and for more time to abate inflation.
Happily, the earnings season is going well. The latest stats suggest that over 80% of the S&P500 companies that have reported earnings so far beat expectations, and helped lifting expectations for Q1 and Q2 earnings across most S&P500 sectors. Amazon is due to report today.
In the FX, the USDJPY trades near 156 as traders remain in the dark regarding whether the officials intervened or not yesterday. The EURUSD tests 1.07 before EZ inflation & growth data.
Elsewhere, US crude fell below $83pb on hope of ceasefire in Gaza, and cocoa futures tanked 15% on higher margin calls and forced liquidations.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.