- The strengthening of the dollar and the rise in bond yields are supporting general risk aversion today, as seen in decline in risky assets - bears come back on Wall Street and crypto market
- Major stock indexes from Europe ended the session with declines. The DAX lost 0.71%, the FTSE100 fell by more than 0.6% and the CAC40 closed the session -0.9% lower.
- Investors powerfully sold off shares of fintech Adyen (ADYEN.NL), which disappointed with its revenue dynamics - the stock lost almost 39% today
- Chinese benchmarks rebounded after the PBoC announced support for the yuan exchange rate, a targeted policy to boost domestic demand - shares of Tencent, Alibaba and JD.com rallied
- The key macro readings of the day - US jobless claims and the Philadelphia Fed regional index reading, surprised positively, strengthening the dollar and expectations of a continuation of the Fed's hike cycle
- US unemployment claims came in at 239k vs. 240k expectations and 248k previously. The Philadelphia Fed index indicated 12 points vs. -13 previously and -10.5 expected, a negative reading
- Wall Street stock indexes traded lower, with WalMart (WMT.US) shares losing despite strong second-quarter results and a raised forecast for the full fiscal year.
- The S&P500 index loses 0.2%, the Nasdaq retreats 0.4% and the Dow Jones is trading 0.3% lower - yesterday's Fed minutes raised concerns about a possible continuation of the Fed's cyclical hikes amid a still-strong economy
- USDIDX dollar index contracts climbed to levels above 104 points unseen since early June, and sellers prevailed on the Eurodollar.EURUSD is falling below 1,086, at lowest since early July
- WTI and Brent crude oil contracts gain about 1%, NATGAS records a small 0.7% gain
- Gold loses 0.3% and is trading at $1886 per ounce. Other precious metals are trading with modest gains, driven by a rally in industrial commodities, which were supported by comments from the People's Bank of China
- Cryptocurrency market sentiment is weak, with Bitcoin settling at $28,000 where bulls are trying to fight back. Other altcoins are slightly gaining against the largest of the cryptocurrencies
Futures contracts on Nasdaq100 (US100) are near 23,6 Fibonacci retracement of the upward wave from the fall od 2022. The key for bears in the near term is to hold 14,870 levels.
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