Ipek Ozkardeskaya
Swissquote Bank Ltd
The week starts with an improved sentiment. The S&P500 just avoided to close in the bear market last Friday, but the index sank its teeth into the bear zone for the first time since the pandemic selloff, and fell for the seventh straight week, for the first time since 2001.
US futures are in the positive this Monday, as some investors see opportunity in the actual market dip. But the trading conditions will likely remain choppy, and gains may remain short lived.
In the medium run, there is a stronger case building for a further retreat in the S&P500 stocks. Investors now eye a return to the 3500/3600 range, according to the latest Bloomberg survey.
In commodities, gold and oil are higher on Monday, as the US dollar is softer across the board.
On the individual stock front, Didi shareholders ill certainly vote to quite the NYSE, and among companies that will report earnings this week, Nvidia and Alibaba will certainly be under the spotlight!
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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