Wake Up Wall Street (SPY) (QQQ): Risk assets rise, but can they hold gains?
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 Wednesday, February 16:
Equity markets continue to recover from recent tension over Russia and Ukraine. Yesterday saw a massive rally on the riskier side of the market as retail traders piled back into some of the favorite names. AMC, GME, NIO, TSLA, SPCE all saw huge gains. Some were stock-specific, like SPCE opening reservations, but much of it was geopolitically related.
Thus far this morning those gains are holding, but there is little follow-through. European markets are mixed, and we do note the pitiful range in the main indices yesterday. The SPY opened higher and proceeded to trade in a $443 to $446 range for the entire session, which was not exactly reassuring then for bulls. On Wednesday the market received strong US retail sales data. This should at least banish any fears of recession, but it may actually bring about more hawkish memes, so keep an eye on bond yields.
The dollar is down as expected, at 1.1370 versus the euro. Gold drops on safe-haven outflows at $1,852, and oil too is lower for similar reasons at $93.25. Bitcoin is at $44,000.
European markets are mixed: Eurostoxx +0.2%, FTSE -0.1% and Dax -0.1%.
US futures are lower: S&P, Dow, and NASDAQ are all -0.25% currently.
Wall Street (SPY) (QQQ) news
Shopify (SHOP) drops on outlook, revenue and EPS beat.
Kraft Heinz (KHC) beats on revenue and EPS.
Wynn Resorts (WYNN) falls on weak Macau revenue.
Hilton (HLT) misses on EPS but beats on revenue.
Airbnb (ABNB) rallies 4% on strong results and forecasts.
Upstart (UPST) up 20% on strong earnings and guidance.
Roblox (RBLX) is down 18% after earnings.
Toast (TOST) is indeed toast as it falls 12% after earnings.
Corsair Gaming (CRSR) is up 7% as it is due to enter the S&P Small Cap 600 on Friday-Benzinga.
Wix.com (WIX) down 14% premarket on earnings.
Upgrades and Downgrades
Source: Benzinga Pro
Economic releases
Like this article? Help us with some feedback by answering this survey:
Here is what you need to know on Wednesday, February 16:
Equity markets continue to recover from recent tension over Russia and Ukraine. Yesterday saw a massive rally on the riskier side of the market as retail traders piled back into some of the favorite names. AMC, GME, NIO, TSLA, SPCE all saw huge gains. Some were stock-specific, like SPCE opening reservations, but much of it was geopolitically related.
Thus far this morning those gains are holding, but there is little follow-through. European markets are mixed, and we do note the pitiful range in the main indices yesterday. The SPY opened higher and proceeded to trade in a $443 to $446 range for the entire session, which was not exactly reassuring then for bulls. On Wednesday the market received strong US retail sales data. This should at least banish any fears of recession, but it may actually bring about more hawkish memes, so keep an eye on bond yields.
The dollar is down as expected, at 1.1370 versus the euro. Gold drops on safe-haven outflows at $1,852, and oil too is lower for similar reasons at $93.25. Bitcoin is at $44,000.
European markets are mixed: Eurostoxx +0.2%, FTSE -0.1% and Dax -0.1%.
US futures are lower: S&P, Dow, and NASDAQ are all -0.25% currently.
Wall Street (SPY) (QQQ) news
Shopify (SHOP) drops on outlook, revenue and EPS beat.
Kraft Heinz (KHC) beats on revenue and EPS.
Wynn Resorts (WYNN) falls on weak Macau revenue.
Hilton (HLT) misses on EPS but beats on revenue.
Airbnb (ABNB) rallies 4% on strong results and forecasts.
Upstart (UPST) up 20% on strong earnings and guidance.
Roblox (RBLX) is down 18% after earnings.
Toast (TOST) is indeed toast as it falls 12% after earnings.
Corsair Gaming (CRSR) is up 7% as it is due to enter the S&P Small Cap 600 on Friday-Benzinga.
Wix.com (WIX) down 14% premarket on earnings.
Upgrades and Downgrades
Source: Benzinga Pro
Economic releases
Like this article? Help us with some feedback by answering this survey:
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.