Equity traders are squaring up their positions ahead of the release of the minutes from the latest Federal Reserve meeting.
There was a spike in volatility last week when the US CPI report ticked down to 8.5% from 9.1%, missing the forecast of 8.7%.
The fall in US producer price index (PPI) triggered a fresh round of buying on Wall Street and the S&P 500 has set a new three month high.
Equity traders pounced on the weaker-than-expected US CPI data as the Federal Reserve might not be as hawkish as initially feared.
It has been an interesting week and despite a lot of negative news, equity markets enjoyed a positive run.
It has been a choppy 24 hours in the markets as the Fed Reserve carried out a dovish hike yesterday, and today’s GDP report suggests the country is now in a recession.
Stock markets are pushing higher ahead of the Federal Reserve meeting, even though it is widely believed the bank will reveal a large interest rate hike.
Stock markets are lower this afternoon as China has reintroduced restrictions to try and curb the spread of Covid-19.
JPMorgan’s share price peaked in September 2021, and it has been trending lower since. Banks usually outperform in environments where interest rates are rising or at least where the perception is that rates will be lifted.
Equity markets are higher following the well-received US non-farm payrolls report. The update showed that 372,000 jobs were added last month, and that comfortably topped the 250,000 consensus estimate.
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