Wake Up Wall Street (SPY) (QQQ): Markets march on, inflation marches on, who blinks first?


Here is what you need to know on Friday, November 12:

Equity markets are up again as all is well in the equity investor's mind. The greatest mind of them all, Warren Buffet, does not seem to think so as he hoards a pile of cash likely waiting for the next crash. Buffet is holding more cash than at any time previously. He is also buying back his own stock at Berkshire Hathaway, something he is notoriously critical of in other companies. He feels companies should always be able to invest better than repurchasing their own stock.

The equity market is unperturbed though, despite the bond and currency markets once again moving significantly. The dollar has been on a charge as higher US rates and growth versus Europe see it break higher, while yields across the board have risen, but particularly at the front end with strong moves from the 2 and 5-year yields on Thursday. The Nasdaq has yet to react, but watch this space.

The dollar as mentioned is pumped up at 1.1440 versus the euro, Gold is at $1,852, Bitcoin is at $64,100, and Oil is lower at $80. 

See forex today

European markets are mixed: EuroStoxx +0.3%, FTSE -0.4% and Dax +0.2%.

US futures are up: S&P +0.2%, Dow +0.3% and Nasdaq +0.3%.

Wall Street (SPY) (QQQ) stock news

Astra Zeneca (AZN) reports EPS and revenue beat, reaffirms guidance.

Coupang (CPNG) down 2% on earnings.

XPeng (XPEV) up 4% on news it is to unveil a new model on November 19.

Rivian (RIVN) is up 3% premarket, see more.

Biogen (BIIB) is up 3% premarket on phase 3 data on Alzheimer's treatment last night.

Tilray (TLRY), Canopy (CGC) up on news Virginia GOP taking control of the State House, rumoured to be more amenable to allowing marijuana sales.

Tesla (TSLA): Elon Musk sells more stock in Tesla. see here.

Moderna (MRNA) and US gov's NIH at odds over intellectual property for covid vaccine, see here.

JD.com (JD) accepts digital yuan payments.

Paysafe (PSFE) was downgraded by Cowen and Evercore.

Hewlett Packard (HPE) was downgraded by Goldman.

PENN upgraded by Deutsche.

Upgrades and downgrades

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 retains gains and trades around 1.1350

EUR/USD stays afloat in the positive territory near 1.1350 as the greenback struggles to gather strength on retreating US T-bond yields. Focus remains on mounting inflationary pressures and upcoming central banks’ announcements.

EUR/USD News

GBP/USD holds its ground in the positive territory above 1.3600

GBP/USD holds above 1.3600 in the second half of the day on Wednesday supported by the modest selling pressure surrounding the dollar. The benchmark 10-year US Treasury bond yield stays in the red in the early American session and the US Dollar Index edges lower toward 95.50.

GBP/USD News

Gold: Bullish breakout exposes November monthly high at 1,877.15

Spot gold trades above $1,840 a troy ounce, at levels last seen in November 2021. The bright metal soared through the American session amid persistent concerns about inflation and volatile US government bond yields. 

Gold News

Shiba Inu price has a good chance to surge to $0.000040

A brief technical and on-chain analysis on Shiba Inu price. FXStreet's analysts evaluate why SHIB could advance further. 

Read more

Yields everywhere are rising too far, too fast: Could we expect them to settle down?

Today we get housing starts and permits, but expectations are running low because of Omicron and bad weather. It’s not exactly an inspiring bit of data, anyway. In fact, the juicy data is from Canada, CPI today and retail sales on Friday. There is still chatter about a BoC hike next week. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures