Wake Up Wall Street (SPY) (QQQ): No debt limit, no government funding, no bulls!
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 Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFERHere is what you need to know on Tuesday, September 28:
September really is living up to its reputation as a tough month for equities with further losses emanating from Europe this morning feeding through to US futures. The ongoing row over US government funding and the debt limit is not helping as lawmakers struggle to get things done. Democrats look likely to have to go it alone on this one, but the job should get done. US yields, however, put a dent in investor enthusiasm on Monday, particularly in relation to Nasdaq and tech stocks. The 10-year yield has steadied above 1.5% now, and Monday also saw the dreaded VIX volatility index back above 20. The Nasdaq took fright and fell nearly 1%, and futures are currently down 1.5% at the time of writing.
The perfect storm is brewing then as Powell admits inflation may last longer and oil prices just keep on going higher, above $76 now for crude. The dollar is delighted with yields higher and is at 1.1670 now versus the euro, while Gold is lower at $1,736. Bitcoin is steady at $41,990.
See forex today
European markets are lower: Dax -1%, FTSE -0.1% and Eurostoxx -1.3%.
US futures are lower: S&P -0.8%, Dow -0.4% and Nasdaq -1.5%.
Wall Street SPY top news
Fed's Bullard forecasts two rate hikes in 2022.
China reported asking state-owned enterprises to buy Evergrande assets.
Ford (F) plans a new US assembly plant and three battery factories to increase EV push-CNBC.
Pfizer (PFE) doses the first patient in new mRNA flu treatment.
Logitech (LOGI) downgraded by Morgan Stanley.
Applied Materials (AMAT) and ASML Holdings (ASML) both downgraded by New Street Research.
Aurora Cannabis (ACB) reported weaker than expected revenue, down 2% premarket.
Spotify (SPOT) kicks off a new advertising campaign to boost sales, according to CNBC.
Cenovus Energy (CVE): Goldman Sachs raises price target, stock up 2% premarket.
Endeavor Group (EDR) up 10% premarket on deal with Scientific Games Open Bet.
Upgrades, downgrades and premarket movers
Source: Benzinga Pro
Economic releases
Here is what you need to know on Tuesday, September 28:
September really is living up to its reputation as a tough month for equities with further losses emanating from Europe this morning feeding through to US futures. The ongoing row over US government funding and the debt limit is not helping as lawmakers struggle to get things done. Democrats look likely to have to go it alone on this one, but the job should get done. US yields, however, put a dent in investor enthusiasm on Monday, particularly in relation to Nasdaq and tech stocks. The 10-year yield has steadied above 1.5% now, and Monday also saw the dreaded VIX volatility index back above 20. The Nasdaq took fright and fell nearly 1%, and futures are currently down 1.5% at the time of writing.
The perfect storm is brewing then as Powell admits inflation may last longer and oil prices just keep on going higher, above $76 now for crude. The dollar is delighted with yields higher and is at 1.1670 now versus the euro, while Gold is lower at $1,736. Bitcoin is steady at $41,990.
See forex today
European markets are lower: Dax -1%, FTSE -0.1% and Eurostoxx -1.3%.
US futures are lower: S&P -0.8%, Dow -0.4% and Nasdaq -1.5%.
Wall Street SPY top news
Fed's Bullard forecasts two rate hikes in 2022.
China reported asking state-owned enterprises to buy Evergrande assets.
Ford (F) plans a new US assembly plant and three battery factories to increase EV push-CNBC.
Pfizer (PFE) doses the first patient in new mRNA flu treatment.
Logitech (LOGI) downgraded by Morgan Stanley.
Applied Materials (AMAT) and ASML Holdings (ASML) both downgraded by New Street Research.
Aurora Cannabis (ACB) reported weaker than expected revenue, down 2% premarket.
Spotify (SPOT) kicks off a new advertising campaign to boost sales, according to CNBC.
Cenovus Energy (CVE): Goldman Sachs raises price target, stock up 2% premarket.
Endeavor Group (EDR) up 10% premarket on deal with Scientific Games Open Bet.
Upgrades, downgrades and premarket movers
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.