Equities heavily sold off, pressured by a spike in Treasury yields as geopolitical tensions and stronger-than-expected retail sales data dented expectations for interest rate cuts and overshadowed strong earnings from banking giant Goldman Sachs.
Increase Price Target to $1.05 (+45%)
Equities were sold off Friday as major Wall Street banks kicked off the earnings season with disappointing results, stoking worries about the strength of the upcoming earnings season at a time when inflation jitters remain front and center.
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
Equities recovered from yesterdays inflation nerves, led by tech, as data showing cooling producer prices eased inflation jitters somewhat just a day ahead of earnings from major Wall Street banks.
Equities pared back steep early losses to only finish down 1% after hotter-than-expected inflation data threw cold water on hopes that the Federal Reserve would begin cutting interest rates as early as June.
Equities closed slightly higher as investors marked time ahead of key inflation data being released tonight. Treasury yields traded lower ahead of the data, giving light relief to the equity market.
Equities closed flat overnight amid cautious trading ahead of the latest inflation reading as well as the start of the first-quarter earnings season later this week.
We recommend to add into the weakness due to improving agricultural conditions
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
Equities rallied Friday night despite very strong US employment numbers put any form of rate cuts this year into question.
Treasury Wine Estates will lift prices of its top-tier Penfolds products as export demand rises and as Beijing lifts restrictions on wine from Australia.
