Tech stocks under pressure, big US banks boost dividend [Video]
|Optimism didn’t last long yesterday, and the market mood turned rapidly sour, as energy prices rebounded with the escalation of tensions in Ukraine. UAE Energy Minister said yesterday that they are pumping near maximum capacity and unrest in Libya and Ecuador hint at further tighter supply. US crude trades past the $112 level this morning, and firmer oil keeps the concerns of high inflation tight, again.
In the FX, the EURUSD tests the 50-DMA to the upside, as hawks prepare for hawkish comments from Christine Lagarde this week. The BoJ, on the other hand, boosts JGB purchases to defend its yield curve strategy, but how long can it do so?
In individual stocks, tech stocks remain under a decent selling pressure as earnings, which will be released by end of the month come in investors’ focus. Bank stocks boost dividend amid successful stress tests to stop selloff, while Nike losts 3% after market despite beating earnings and sales expectations.
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