Gold tumbles amid rising U.S. dollar and U.S. bond yields
09-16 12:00uSMART

After a modest rebound on Wednesday, the three major U.S. stock indexes turned their heads and fell again on Thursday. As of the close, the Dow fell 0.56%, the S&P 500 fell 1.13%, and the Nasdaq fell 1.43%

 

MACRO

US Markets retreated in choppy trading, as recent data releases reflect a subdued outlook for the economy

EU Markets closed lower even as the Euro Zone Bank Index touched its highest levels since June 10     

Asia Markets were mixed with China keeping its one-year medium-term lending facility unchanged at 2.75%  

US Retail Sales climbed 0.3% in August, as lower gasoline prices resulted in increased vehicle purchases

 

SECTORS

Gold plunged, touching an April-2020 low on the back of a firmer dollar and rising treasury yields

WTI Crude Oil tumbled more than 2% as prospects of softer demand outweighed supply concerns  

 

COMPANY

Adobe plunged 16.8% after releasing mixed guidance for the current quarter, while planning to acquire Figma for $20 billion

Wynn Resorts jumped 7.48% after Credit Suisse upgraded it to Outperform following its convention centre expansion in Las Vegas

Netflix rose 5% after Evercore ISI upgraded the stock to outperform with a more than 30% upside potential

 

EVENTS 

Today’s Earnings:

  • Manchester United (MANU.US)

 

Economic Calendar (19 September 2022)

  • N/A

 

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