Wake Up Wall Street (SPY) (QQQ): Markets cornered by rising yields and surging energy costs


Here is what you need to know on Tuesday, October 12:

The bond market is back on Tuesday after an extended break while equity players went it alone on Monday. We wait with bated breath then to see if the recent yield rise continues. Equity markets are looking to open relatively unchanged, but headwinds still abound. More Chinese crackdown news with the Wall Street Journal reporting scrutiny of further Chinese tech names and more Evergrande-related potential defaults. Oil remains above $80, so equity markets may find it hard going on Tuesday.  Asia saw markets fall over 1%, but Europe is flat.

The dollar is also flat at 1.1560 versus the euro, Oil as mentioned is strong at $81, and Bitcoin continues to surge at $57,400. Gold trades at $1,761.

See forex today

European markets are mixed: Eurostoxx +0.2%, FTSE +0.1% and Dax -0.4%.

US futures are slightly higher: S&P +0.1%, Dow flat and Nasdaq +0.3%.

Wall Street (SPY) top news

UK payrolls hit record.

Americans warned supply chain issues may hit Christmas supplies. Bah, humbug!

Glaxo Smithkline (GSK): Bloomberg reports that the consumer products unit is attracting private equity interest.

CureVac (CVAC) is down 13% premarket as the company will focus on second-gen covid vaccine and withdraw first-gen vaccine from EMA approval.

Airbnb (ABNB): Cowen upgrades.

Netflix (NFLX): Jefferies raises price target.

Signet Jewelers (SIG) announces it has bought Diamonds Direct for $490 million. 

Nvidia (NVDA): EU to investigate proposed ARM bid-Reuters.

Fastenal (FAST) revenue and EPS in line.

Southwest (LUV) hoping to get back to a normal schedule by Wednesday after flight cancellations recently.

Ulta Beauty (ULTA): JPMorgan raises price target.

Tesla (TSLA): latest data from China shows it sold a record 56,006 vehicles from China in September.

Nike (NKE): Goldman says it is a buy!

MGM Resorts (MGM): Credit Suisse upgrades.

General Electric (GE): JPMorgan says could be overvalued by up to 20%-CNBC.

Pfizer (PFE) and Merck (MRK): Morgan Stanley raises price targets on both.

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.

EUR/USD News

GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.

GBP/USD News

Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!

Forex MAJORS

Cryptocurrencies

Signatures