Beat the street: global equities continue to bask in the glow of NVIDIA's results; hot cocoa; Ukraine-Russia war anniversary
Wall Street set to open higher. NVIDIA's market capitalisation hits $1 trillion for the first time. Cocoa prices hit new highs amid production woes.
Plus, a look at where we stand on the financial markets two years after Russia launched a full-scale invasion of Ukraine.
(AI Video Summary)
Ukraine-Russia war's impact on global markets
Today's edition of "Beat the street" covers a range of interesting topics for people who are new to trading. Angeline Ong talks about current topics such as global stocks, the results of NVIDIA, the economy in the United States, and the prices of cocoa. Apparently, the price of cocoa is going up because of problems with the weather and diseases affecting production. Ong also talks about how Russia invading Ukraine since two years ago has had an impact on the global market.
Chatting to John Stoltzfus from Oppenheimer
When it comes to the US stock market, she says it looks like things are starting out slow because traders are being careful, even though the value of NVIDIA has gone way up. She also mentions that the US economy is doing well, with data showing it is strong. This has made people change their expectations for when the Federal Reserve will cut interest rates. John Stoltzfus from Oppenheimer talks about how he thinks rate cuts will happen later this year or maybe even in the last part of the year. He says that people who have set up their trades based on earlier rate cuts should change their position because the market has changed its expectations. He also says that the end of "free money" is actually good because it makes things more normal.
Discussing Wall Street and commodities
Ong then talks about two wars happening in the world that many traders on Wall Street don't even know about.She shows that Wall Street funds and the Dow Jones are affected by these wars. She discusses how things like Brent crude, corn, wheat, and gold are also being impacted. She thinks that the value of the US dollar might go down because the Federal Reserve is cutting rates less.
Company earnings reports
Finally, Ong mentions some upcoming data about the economy and some reports from companies, including one from eBay Inc (All Sessions). She says that it's important to watch things like manufacturing PMIs, job creation numbers, and the PCE price index, which the Federal Reserve likes to use to measure inflation. She also notes that traders are being careful because of what happened with NVIDIA.
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