Here is what you need to know on Wednesday, January 12:

Equity markets got the usual Powell push on Tuesday as the Fed Chair's testimony kept the straight and narrow and delivered nothing too surprising. The Fed has become adept at signaling its intentions well in advance to the market. A few months ago the thought of a March rate hike would likely have sent markets into panic mode, but now the probability is running at nearly 90% and equity markets appear calm. The Nasdaq has returned to the green and is making up for lost time. The just out CPI is high, very high, but markets expect this, and so we should see more gains on Wednesday. 

The dollar has weakened after the CPI as perhaps more was expected. It is trading at 1.1393 now versus the euro. Gold is at $1,818, and Oil has moved higher at $82.04. Bitcoin is recovering ground and is back to $43,000.

See forex today

European markets are higher: Eurostoxx +0.4%, FTSE +0.5% and Dax +0.35.

US futures are higher: S&P +0.4%, Dow +0.35 and Nasdaq +0.5%

Wall Street (SPY) (QQQ) stock news

US CPI 7% for Dec. inline. Core CPI 5.5% yearly, 0.6% monthly.

Tesla (TSLA): Chinese deliveries hit a record. 

Biogen (BIIB) falls 9% premarket on the decision of Medicare/Medicaid to only grant coverage for new Alzheimers drug if the patient is in a clinical trial.

Moderna (MRNA) fell 5% on Tuesday despite a market rally.

Ocugen (OCGN) up 5% premarket on covaxin data showing positive results versus Omicron and Delta.

DoorDash (DASH) upgraded by Evercore.

Meta Platforms (FB) names Door Dash CEO to its board.

DIDI up 5% on talk of Hong Kong listing in Q2.

Crocs (CROX): Piper Sandler names it a top pick.

DISH and DirecTV are in merger talks, according to New York Post.

Paypal (PYPL) downgraded at Jefferies.

Just Eat (GRUB): Did somebody say...up 4% on maintaining 2022 forecasts.

Ally Financial (ALLY) raises dividend by 20%, $2 billion share buyback.

Upgrades and downgrades

Source: Benzinga Pro

Economic releases

 

 

 


Like this article? Help us with some feedback by answering this survey:

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 Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD retreats toward 1.0550 as dollar rebounds

EUR/USD retreats toward 1.0550 as dollar rebounds

EUR/USD has lost its traction in the American session and retreated to the 1.0550 area. In the absence of high-tier macroeconomic data releases, the dollar is staging a rebound with the US Dollar Index rising above 103.00 and forcing the pair to edge lower.

EUR/USD News

GBP/USD consolidates its weekly gains below 1.2500

GBP/USD consolidates its weekly gains below 1.2500

GBP/USD has extended its sideways grind below 1.2500 into the second half of the day on Friday with the dollar staying resilient against its rivals. Nevertheless, the pair remains on track to snap a four-week losing streak.

GBP/USD News

Gold loses traction, drops below $1,840

Gold loses traction, drops below $1,840

Gold came under modest bearish pressure in the American session on Friday and dropped below $1,840. The benchmark 10-year US Treasury bond yield stays quiet above 2.8%, helping XAU/USD limit its losses ahead of the weekend.

Gold News

Bitcoin price will bounce to $36,000, but what happens next will leave you shocked

Bitcoin price will bounce to $36,000, but what happens next will leave you shocked

A brief technical and on-chain analysis on Bitcoin price. Here, analysts evaluate where BTC could be heading next. Does the possibility for a cat bounce make sense?

Read more

PANW shows bullish reversal chart pattern after earnings beat

PANW shows bullish reversal chart pattern after earnings beat

PANW stock benefits from continued strong revenue growth. Palo Alto Networks now nearly services half of the Global 2000. PANW stock is showing a bullish reversal pattern on its daily chart.

Read more

Forex MAJORS

Cryptocurrencies

Signatures