Pre-Market Pulse 18th April – Equities led lower by Nvidia as “Higher for Longer” sinks in
Equities continued to slide led by an Nvidia-led slide in tech just as fears of higher-for-longer Federal Reserve interest rates persist.
Equities continued to slide led by an Nvidia-led slide in tech just as fears of higher-for-longer Federal Reserve interest rates persist.
Stocks finished slightly lower in a highly volatile session as Federal Reserve Jerome Powell signaled the need for rates to remain higher for longer following recent inflation data that surprised to the upside.
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.
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.
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.
Equities rallied Friday night despite very strong US employment numbers put any form of rate cuts this year into question.
Investors remained deluded that rate cuts hopes and a strong economic numbers can co-exist as equities had a relief rally due to Fed chair Powell saying rate cuts remain on the table for this year.
Investors remained deluded that rate cuts hopes and a strong economic numbers can co-exist as equities had a relief rally due to Fed chair Powell saying rate cuts remain on the table for this year.
Equities had a broad-based sell-off overnight extending the poor start to the second-quarter, pressured by health care stocks and another big jump in Treasury yields amid remarks from several Federal Reserve officials reiterating the need to keep rates higher for longer.