Stocks, Oil, Gas and wheat end week on a high
US indices rebound from Thursday's sharp losses, says Axel Rudolph, Senior Market Analyst at online trading platform IG.
Stocks rebound to finish week on a high
“As traders continue to digest fresh corporate earnings, the S&P 500 and Nasdaq 100 rebound following their sharp losses from the day before. Investors seem to put aside disappointing results by Netflix and Tesla which provoked Thursday's rout and instead focus on next week's Alphabet, Microsoft and Intel earnings among a plethora of others. The German DAX has been Friday's underperformer as a 4% drop in SAP shares weighed on the index. In the UK the FTSE 100 has risen for a second consecutive week, buoyed by slowing inflation and stronger-than-expected retail sales.”
Focus is on full calendar and rate decisions next week
“Rate decisions by the Fed, ECB and BoJ next week alongside flash PMIs, consumer sentiment, GDP and inflation data will likely add some volatility to the mix. The US dollar, which this week regained some of its recent losses, is likely to remain volatile. It'll probably impact commodities such as gold which is coming off its two-month high. Oil, natural gas and wheat prices ended the week up between 2% and 10% on supply worries.”
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