Beat the street: indices looking for a higher start ahead of Fed tomorrow
The dollar is perhaps more representative of trader feeling ahead of the Fed rate announcement tomorrow. DXY is watching and waiting near support at 10550. IGTV’s Jeremy Naylor takes a look at the rally in risk assets.
(Video Transcript Summary)
Market volatility is dropping
In this edition of Beat the street, host Jeremy Naylor provides a brief overview of the important news and events happening in the market. He talks about some key things to keep an eye on, such as the US dollar, US interest rates and earnings reports from big companies like Pfizer and Caterpillar.
Jeremy mentions that the volatility in the market is going down. However, there is still uncertainty about whether this is just a temporary pause in the market or if it will continue to go up.
The S&P 500, a stock market index that shows how the top 500 companies in the US are doing, is expected to have a slightly stronger start. But there are some technical signs that show the market might be starting to go down in the long run.
NASDAQ tech stocks doing well
Technology stocks, especially those on the NASDAQ stock exchange, are doing well. Jeremy then talks about the technical analysis of the US dollar and the Japanese yen. He explains how the market might be affected by rising yields, which basically means that the interest rates are going up.
The euro is holding its ground and has a support line that is going up. But its future direction depends on the decision that the US Federal Reserve (Fed) will make on interest rates.
Jeremy also analyses the price of gold and oil and talks about how things happening around the world could impact these markets.
Pfizer, Caterpillar and Stellantis earnings due
Towards the end of the video, he discusses the earnings reports from Pfizer, Caterpillar and Stellantis, and how they might affect the prices of their stocks. Jeremy also mentions that there is an upcoming earnings report from Advanced Micro Devices (AMD) and give a technical analysis of its stock.
The video wraps up with a review of the overall trends in the market and the speaker's outlook for the start of the trading day.
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