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S&P 500 Day Ahead Outlook: Rates steady, oil up as equities try to hold Thursday's gains

Ivan Brian FXStreet

Here is what you need to know on Friday, March 26:

US 10 Year yields remain subdued as equity markets look to end the week on a positive note. Later on Friday, we get University of Michigan Inflation data to give us food for thought. Fed's Harker says is committed to letting inflation rise above 2% for some time. Oil jumps as the Suez canal remains blocked. Oil's rise is all the more impressive given the dollar's strength, stable now at 1.1780.

See Forex Today

European markets are just in the green, FTSE +0.2%, DAX +0.6%, and EuroStoxx flat.

US futures are mixed, the Nasdaq is lower by 0.3% but the S&P is up 0.3%, and the Dow up 0.4%.

Stay up to speed with hot stocks' news!

S&P 500 top news

Suez canal remains blocked, Oil up 2.3%.

German IFO Expectation Index beats expectations! Maybe we should say beats forecasts. Anyway, 100.4 versus 95.

BofA survey shows cash balances rising sharply. TIPS (Treasury inflation bonds) inflows reach the third largest inflow ever.

Gamestop is back as it and AMC post huge gains on Thursday.

Palantir: ARK Invest adds more to recent purchases.

WeWork, BowX Acquisition: WeWork is going public via the SPAC deal. WeWork pulled its IPO in 2019. Frothy frothy!

Fed is likely lifting restrictions on bank dividends and share buybacks in June. Bank stocks all rally.

Moderna delays shipment of covid vaccines to Canada.

AstraZeneca cannot export any more covid vaccines from the EU until it meets its obligations to the EU, Ursula von der Leyen EU Commission chief.

Ford: US Supreme Court rules against Ford in relation to state courts hearing a product liability lawsuit-Reuters. Also, Ford is to stop production of F150 for the weekend in Michigan due to semiconductor shortages.

Lyft & Uber: Massachusetts judge denies a bid to dismiss a lawsuit challenging Uber and Lyft driver classification as independent contractors-Reuters.

NIO to halt production for 5 days at Hefei plant due to a wait for it...a shortage of semiconductor chips.

Tesla: Elon Musk's tweet saying employees would lose stock options if they formed a union is illegal and should be deleted according to US National Labour Relations Board.

Microsoft in advanced discussions with Discord WSJ reports.

ROOT is misunderstood according to Citroen research, issuing a bullish note.

Ups and downs

Altria: Jefferies upgrades.

ViacomCBS: downgraded by WellsFargo

Nike: Baird upgrades.

Zoom Video: Deutsche Bank initiates as a hold.

Economic Releases due

University of Michigan Inflation Expectations is the big one.

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

GBP/USD trims gains; back to 1.3450-ish

The persistent weakness hurting the Greenback lends support to the British Pound and the rest of the risk-linked assets, sending GBP/USD to new two-day tops past 1.3480 on Wednesday. Indeed, Cable advances for the second day in a row helped by the constant optimism around a potential US-Iran deal.

EUR/USD hovers around two-month peaks near 1.1560

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Taking out the lines in the sand

Good Day... And a Wonderful Wednesday to you! Well, just as I suspected, my beloved Cardinals' bats went silent last night in the Bronx, and they lost 0-2... The Yankees' bats were exactly a murderer's row, but they hit 2 homers and won. I said yesterday that the song : Just Once In My Life, could be the Cardinals' song after hitting 5 home runs the previous night!

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