Opening Bell: US Futures Slip; European stocks hit new records; Bitcoin collapses

[ad_1]

US investors annoyed by uncertainty from Fed leaders European equities rally as tensions between the US and China ease Gold continues to rise

Futures on, and were slightly in the green Tuesday despite lingering nervousness about the future leadership of the US Federal Reserve and any impact that may have on monetary policies. Meanwhile, European stocks hit an all-time high in trading this morning ahead of the opening of the US session.

The recent Bitcoin rally has come to an end and the cryptocurrency has returned below $ 60,000.

Global Financial Affairs

As noted in Sunday’s post, the focus this week will be on the American consumer. Today, US data could show an acceleration as industry giants including (NYSE 🙂 and Home Depot (NYSE 🙂 report better-than-expected quarterly results.

European investors, who unlike US investors don’t care about central bank leadership, have pushed shares in the region up amid signs of easing geopolitical tensions between the, the world’s two largest economies. . The index climbed, extending a series of records until the fifth day. This rally has seen the index rise for 16 of the last 18 sessions.

The critical meeting between President Joseph Biden and Chinese leader Xi Jinping, in which the two leaders expressed their desire to stabilize their countries’ relations, has raised hopes among investors. It also helped the President of the European Central Bank (ECB) to confirm that she would not tighten monetary policy, ending speculation that the ECB would.

European mining stocks, which have significant exposure to China, climbed 0.5% early in the session, while Vodafone (LON 🙂 gained 6.3% after reporting a sharp increase in telecoms stocks.

Dutch e-commerce operator Prosus (AS 🙂 rose 4.0% after rising profits in the first half of 2022, as it earned $ 12.3 billion by selling part of its stake in Tencent Holdings (OTC :).

Earlier on Tuesday, Asian benchmarks were mixed, with China falling 0.3% despite data showing October growth was stronger than expected due to robust sales ahead of the shopping festival in the Singles Day in China.

Hong Kong jumped 1.3%; gained 0.1%

On Monday, Wall Street stocks struggled to find a clear direction amid high volatility in Tesla (NASDAQ 🙂 stocks. In addition, treasury bills were sold.

They managed to cut their losses as Tesla rebounded from session lows. Shares of the electric vehicle maker, having lost nearly 20% of their value, are now on the verge of an official bear market. The fall followed a Twitter row between company CEO Elon Musk and Sen. Bernie Sanders, in which Musk mentioned he sold more shares.

The Treasury note erased yesterday’s massive sell-off, allowing yields to rise to 1.6% after speculation the Fed may accelerate its asset purchases cut after the fastest jump in three years .

The fluctuation between gains and losses.

US dollar

The greenback struggled to extend a rally against the top of its bullish channel.

advanced to the eighth day of nine.

Daily Gold

The yellow metal completed an H&S background.

Cryptocurrencies have collapsed as Twitter’s CFO, Ned Segal has ruled out investing in crypto. The news saw it slide towards $ 60,000.

Daily Bitcoin

If the major cryptocurrency drops below $ 57,700, it will increase the chances that the token will retest the low of an ascending channel. A close at the current price may signal a sound failure.

rose as investors wait to see whether the Biden administration will tap into crude reserves to help lower prices for U.S. gas pumps.

A fall below $ 78 may signal a price peak.

Up AheadUS is released on Wednesday. On Thursday, the figures are released. The Fed speaks Friday at the Asian Economic Policy Conference. Stock market movements The STOXX 600 rose 0.2% at 9:24 a.m. London time. S&P 500 futures fell 0.1%. NASDAQ 100 futures have not changed much. Little changed at $ 1.1362 The little changed at 114.18 per dollar The little changed at 6.3777 per dollar The 0.4% increase to $ 1.3466 Bonds The yield on treasury bills at 10-year little changed at 1.61% Germany’s yield little changed at -0.23% Britain’s yield little changed at 0.97% Commodities rose 0.5% at $ 82.42 per barrel rose 0.5% to $ 1,872.95 per ounce

[ad_2]