Wall Street's main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month
MACRO
US Markets snapped its losing streak to conclude higher, as treasury yields, and oil prices cooled
EU Markets concluded mixed, with the FTSE lagging as the pound fell to its lowest level against the dollar since 1985
Asia Markets finished lower with China’s exports missing expectations to grow at 7.1% YoY in August
Federal Reserve Beige Book revealed that economic activity was unchanged in the past six weeks, while growth outlook remains weak
SECTORS
Gold rebounded Wednesday, trading at $1,716/oz at time of writing as the dollar pulled back
WTI Crude Oil continued its fall to touch a seven-month low on recession fears and softening demand from China
COMPANY
Netflix rose 4.8% on reports that the company is seeking to reduce expenditure due to slowing subscriber growth
UiPath plunged 11% despite beating earnings and revenue expectations on the back of a weak revenue guidance
Coupa Software jumped nearly 18% after surpassing earnings expectations while providing an upbeat guidance
EVENTS
Today’s Earnings:
- Bilibili (BILI)
- DocuSign(DOCU)
- RH(RH)
- Lovesac(LOVE)
Economic Calendar (08 September 2022):
- China Inflation Rate YoY (August)
- US Consumer Credit Change (July)
Disclaimer:
The information contained in this article has been obtained from public sources which the writer has no reason to believe are unreliable and any analysis, forecast, projections, expectations and opinion (collectively “Research”) contained in this article are based on such information and are expressions of belief only. The writer has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this presentation is subject to change, and the writer shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will the writer be liable for any loss, including any special, indirect, incidental or consequential damages, which may be incurred from the use of the information or Research made available.
This article is intended for general circulation and educational purposes only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. Past performance figures as well as any projection or forecast used in this article, are not necessarily indicative of future performance of any investment products. You should seek advice from a financial adviser regarding the suitability of the investment products mentioned. In the event you choose not to seek advice from a financial adviser, you should consider whether the investment product in question is suitable for you. Views and any strategies described in this article may not be suitable for all investors. Any reference to or discussion of investment products in this article is purely for illustrative purposes only and must not be construed as a recommendation, an offer or solicitation for the subscription, purchase or sale of the investment products mentioned.