Wake Up Wall Street (SPY) (QQQ): More hopes for peace, but markets remain nervous
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADEHere is what you need to know on Monday, March 14:
Another hopeful tone from a talk between Russia and Ukraine saw European equity markets move sharply higher on Monday before the move began to stall as the realization set in that the end game may not quite be in sight. Hopefully, the war can reach a peaceful conclusion that markets would certainly welcome, but would that be enough to stop the bear that has been unleashed?
That is the key question. Rising commodity costs and inflationary pressures will not roll over that easily, and we get the slate of central bank decisions this week to give us more food for thought. The Fed will get the most attention, and a 25 basis point hike has been penciled in by most observers. More is likely to come and after the ECB's surprisingly hawkish tilt last week. The Fed may still take out a 50 basis point surprise. Equity markets will likely square up early in anticipation of the big decision by the Fed.
Overnight news from China has not helped things with a sizable lockdown in Shenzen, and already we note Apple (AAPL) supplier Foxconn has shut its factory there. For how long is the big question. Experience around the world has taught us that lockdown does not work as effectively against the super transmissible Omicron variant, so this will be an interesting one to keep an eye on. Either way this means more woes for supply chains, so Apple and others will likely suffer on the back of this. The yield route continues to this morning with European yields surging. At least the US yield curve is showing signs of stabilization. Oil is now back to $104, while Gold is at $1,966. The dollar index is also a touch weaker this morning at 98.90.
European markets are higher: Eurostoxx +1.8%, Dax +2% and FTSE +0.7%.
US futures are mixed: Nasdaq -0.3$, Dow +0.6% and S&P+0.3%.
Wall Street News (SPY) (QQQ)
Russia says it has not requested military assistance from China.
India considering a Russian offer to sell oil.
Iran says nuclear discussions taking a break, up to the US now.
Chinese stocks hit on lockdown fears. BABA, NIO, etc.
NIO falls 14% in Hong Kong.
Apple (AAPL): Foxconn closes the factory in Shenzen.
Occidental (OXY) was downgraded by Morgan Stanley.
Lockheed Martin (LMT): Reuters reports Germany to purchase jets.
Ford (F) forecasting a 12% drop in sales this year, according to Automotive News.
Turquoise Hill Resources (TRQ): Rio Tinto offers to buy.
Deutsche Bank (DB) upgraded by Berenberg.
Southwest Gas (SWX): Icahn Enterprises increases tender offer.
Academy Sports & Outdoors (ASO) to join S&P Small Cap 600.
Nokia (NOK) upgraded at Raymond James.
Upgrades and Downgrades
Source: Benzinga Pro
Economic releases
Here is what you need to know on Monday, March 14:
Another hopeful tone from a talk between Russia and Ukraine saw European equity markets move sharply higher on Monday before the move began to stall as the realization set in that the end game may not quite be in sight. Hopefully, the war can reach a peaceful conclusion that markets would certainly welcome, but would that be enough to stop the bear that has been unleashed?
That is the key question. Rising commodity costs and inflationary pressures will not roll over that easily, and we get the slate of central bank decisions this week to give us more food for thought. The Fed will get the most attention, and a 25 basis point hike has been penciled in by most observers. More is likely to come and after the ECB's surprisingly hawkish tilt last week. The Fed may still take out a 50 basis point surprise. Equity markets will likely square up early in anticipation of the big decision by the Fed.
Overnight news from China has not helped things with a sizable lockdown in Shenzen, and already we note Apple (AAPL) supplier Foxconn has shut its factory there. For how long is the big question. Experience around the world has taught us that lockdown does not work as effectively against the super transmissible Omicron variant, so this will be an interesting one to keep an eye on. Either way this means more woes for supply chains, so Apple and others will likely suffer on the back of this. The yield route continues to this morning with European yields surging. At least the US yield curve is showing signs of stabilization. Oil is now back to $104, while Gold is at $1,966. The dollar index is also a touch weaker this morning at 98.90.
European markets are higher: Eurostoxx +1.8%, Dax +2% and FTSE +0.7%.
US futures are mixed: Nasdaq -0.3$, Dow +0.6% and S&P+0.3%.
Wall Street News (SPY) (QQQ)
Russia says it has not requested military assistance from China.
India considering a Russian offer to sell oil.
Iran says nuclear discussions taking a break, up to the US now.
Chinese stocks hit on lockdown fears. BABA, NIO, etc.
NIO falls 14% in Hong Kong.
Apple (AAPL): Foxconn closes the factory in Shenzen.
Occidental (OXY) was downgraded by Morgan Stanley.
Lockheed Martin (LMT): Reuters reports Germany to purchase jets.
Ford (F) forecasting a 12% drop in sales this year, according to Automotive News.
Turquoise Hill Resources (TRQ): Rio Tinto offers to buy.
Deutsche Bank (DB) upgraded by Berenberg.
Southwest Gas (SWX): Icahn Enterprises increases tender offer.
Academy Sports & Outdoors (ASO) to join S&P Small Cap 600.
Nokia (NOK) upgraded at Raymond James.
Upgrades and Downgrades
Source: Benzinga Pro
Economic releases
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.