EUR/USD 1.18409
-0.218%
Gold 3664.80
-0.678%
Oil 63.820
-0.544%
USD/JPY 146.636
0.128%
GBP/USD 1.36339
-0.079%
GBP/JPY 199.926
0.056%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
UBTECH Robotics (09880.HK) rose 10% in late trading, with a turnover exceeding HK$3 billion.Gold prices dipped slightly in early trading on Wednesday, impacted by profit-taking and a stronger dollar, but remained near record highs ahead of the Federal Reserves interest rate decision. Investors widely expect the Fed to cut interest rates by 25 basis points, but attention will be focused on Chairman Powells speech for clues on the pace of future monetary easing. "The market has priced in a deep easing path, and a failure of the Fed to meet expectations could spark disappointment," said Pepperstone analyst Ahmad Assiri. Meanwhile, retail sales grew for the third consecutive month in August, suggesting that consumer spending remains healthy despite concerns about persistent inflation and a weak job market.Governor of Bank Indonesia: Interest rate decision takes into account the possibility of a Fed rate cut.On September 17th, Deutsche Bank analyst Sanjay Raja noted that the UK inflation rate, which remained at 3.8% in August, was a positive sign for the market. Core inflation was in line with expectations at 3.6%, while services inflation fell to 4.7% from 5.0% in July. Raja stated, "The good news is that the August data corrected some of the unexpected upward movement in July." However, the bad news is that inflation will still edge up before peaking—food inflation reached 5.1% in August and continues to rise. He added that the Bank of England may need to wait for more evidence before easing its restrictive policy again.The Indonesian rupiah fell slightly against the US dollar and is now trading at 16,440.

S&P 500 Retreats As Traders Reduce Risks Ahead Of U.S. Inflation Reports

Jimmy Khan

Nov 10, 2022 17:43

微信截图_20221110164734.png


Disney Slumps as Quarterly Report Underperforms Expectations


The S&P 500 is facing significant pressure as traders assess the ambiguous midterm election results in the United States and fret over the significant sell-off in cryptocurrency markets.


Energy stocks, which are falling as a result of the sharp decline in oil prices, are driving the sell-off. In today's trading session, shares of Occidental Petroleum, Hess Corporation, and Devon Energy are down 5% to 7%.


Due to its quarterly report falling short of analyst forecasts, Disney is down 13%. The market is also dissatisfied with the company's short-term business outlook.


As a result of traders' reactions to Elon Musk's sales of the stock, Tesla is down 6%. Musk just sold over $4 billion worth of Tesla stock to raise money for his Twitter transaction.


NVIDIA is down 5% as investors fear that the decline in cryptocurrency markets may lower demand for the company's goods.


From a broad perspective, the sell-off is extensive, and all market segments have been under significant pressure.

Traders get ready for reports on US inflation


The United States will announce inflation figures tomorrow, so traders should be aware of this. Analysts anticipate that the inflation rate will have decreased to 8% in October from 8.2% in September. It appears that some market participants have made the decision to lower their risk exposure before this significant report.


The S&P 500 is currently attempting to settle beneath the 3760 support level. If successful, the S&P 500 will move in the direction of the next support level at 3725. A move below this point will allow for a test of the support level at 3690.


The S&P 500's closest upward resistance level is found at 3805. The S&P 500 will move in the direction of the 3835 resistance level if it rises again above this level. If the S&P 500 is able to hold above 3835, it will move toward the 3885 resistance level.

Suggestion