The shares of Meta jumped 15% yesterday after it tripled its profit and introduced its first dividend. Investors were happy about this strong result and Amazon’s robust earnings, so much so that it took take their minds off Apple, the Fed and China. But then, new data came in that shook their convictions... 

Investors were dealt a blow by the Fed yesterday, which crushed their hopes of a rate cut in March. The mood was further dented when Alphabet published disappointing results and lost 7%, which took other tech stocks down.

It’s a jam-packed day today, with 700 earnings reports and a Fed rate decision. Investors are eagerly awaiting the US central bank monetary policy decision at 2:00 pm ET. They are not expecting any surprise or new changes. However, they will be interested in Jerome Powell's comments. 

Wall Street indices are still breaking records and the S&P500 is within 1.5% of the 5000 points symbolic milestone - a day before the Fed meeting.

Markets are on a roll and even news of the liquidation of giant property developer China Evergrande isn’t stopping them from rallying. A big week lies ahead for investors, with a flurry of corporate results and monetary policy decisions by the Fed and the Bank of England. So far, 2024 is going really well, with several indices setting or flirting with record highs.

The better-than-expected GDP data and strong corporate results have raised investors morale. Today’s inflation data is another boost and it looks like we're getting closer to the first rate cut.

Tech stocks are still keeping indexes on an upward slope, and even enabling them to set new records. Even China is recovering, since Beijing seems intent on boosting its stock market with a massive injection of public money. Will Tesla and the ECB ruin the party?

The rally continues on Wall Street, fueled by its tech giants, while in China, things are looking rosier.

Wall Street continues to move forward and surpasses symbolic milestones: after the 17,000-point Nasdaq 100, the 38,000-point Dow Jones was erased. Both indexes find themselves in terra incognita, as is the S&P500, which hit 4,850 points. New York traders are just 3% short of having their 5000 caps made. A little history: the 4000 version dates from April 2021. The 3000 dates from October 2019. The 2000 from September 2014 and the 1000 from February 1998.

Wall Street is breaking new records: investors flocked to US technology stocks and Japanese equities. The S&P 500 broke its record. This is despite investors coming to terms with the fact that rate cuts will probably not start as early as March. 

The likelihood that rate cuts will happen as soon as March dropped significantly, but not completely. Indices bounced back, lifted by a rally in the semiconductor industry after TSMC's fiery forecasts based, in particular, on the continuing boom in artificial intelligence. 

Despite several speeches from central bankers warning that the fight against inflation isn’t over and that rate cuts are not the order of the day, most investors remain convinced that rates will go down as soon as March.

They had high hopes for March rate cuts, but a series of macroeconomic data and central bank speeches are slowly but surely denting investor sentiment. Yesterday, Fed central banker Christopher Waller, who belongs to the hawkish camp but is reputedly close to Fed boss Jerome Powell, explained that there is no need to rush into lowering interest rates. 

Wall Street reopens after a long weekend for Martin Luther King jr. Day, and futures are in the red. Investors are assessing the consequences of Donald Trump’s win in Iowa yesterday and are also awaiting results from major US banks.

US equity futures were lower this morning as investors assessed quarterly earnings from major US banks after Thursday's higher-than-expected inflation report.

The much-anticipated US inflation data was just published and investors are busy fine-tuning their forecasts for the date of the Fed's first rate cut. 

Investors are trading cautiously ahead tomorrow’s inflation data, with futures on the main three Wall Street indices flat on Wednesday. They are eager to get more cues about the pace of interest rate cuts this year. The euphoria seen in late 2023, boosted by expectations of a rate cut as early as March has slightly faded, but signs that inflation continued to cool in December could revive hopes. 

After a difficult first week of 2024, stock market indices are trying to bounce back. Investors have found renewed confidence that rate cuts are coming fast, and artificial intelligence is back to being a hot topic again. 

The optimism about Fed rate cuts that dominated December is quickly fading, and futures on Wall Street’s main indices were in the red this morning. Investors are eager to get more clues about the state of the economy to assess the trajectory of monetary policy.

It’s a pretty a grim start to the new year, with three sessions in the red for Wall Street. Futures remained mixed this morning as investors await more economic data to get a better idea of the Fed’s monetary easing path.

The first session of the year on Wall Street was lackluster and today looks it’s not gonna be any better. Speculation is already rife as to whether this is the end of the good times seen at the end of last year or just temporary. The main event today is the publication, later this afternoon, of the minutes of the latest US central bank meeting. 

As we start a new market year it’s good to have a quick look back at 2023. Let’s also recap what happen on Wall Street and elsewhere during year-end festivities, since many of us have completely disconnected from stock market news in the past week.

Investors got what they wanted before Christmas, which is another sign that inflation is cooling. For this last column of the year, we'll talk about rate cuts, artificial intelligence, Tencent and Nike...

Wall Street ended in the red yesterday due to profit taking, but also because of a specific kind of options. I’ll explain in a bit. But things are already looking green. Investors are assessing U.S. GDP and employment data, before the core PCE index on Friday.

The US market looks like it’s taking a breather, with futures in the red in premarket trading, after several sessions of gains fueled by hopes of rate cuts after the Fed's December 13 monetary policy decision that showed lower policy rates by the end of 2024.

Christmas is fast approaching and the atmosphere on stock markets is rather joyful, with most indices in the green. Investors are cheering fresh data showing a slowdown in eurozone inflation in November and the Bank of Japan's decision.

Investors have already overindulged this year, but they don't seem ready to curb their appetite. Western Indices are on course to end 2023 on their best levels of the year, after another positive weekly performance. 

Investors are slowly coming down from Cloud 9 after the rally sparked Fed confirmed it will start cutting rates next year. Many indices are flirting with or have exceeded their highs this week, which ends with the last clearing session of the year, the triple-witching' day", as financiers generally call it.

For its final outing of 2023, the US Federal Reserve strengthened market convictions. Investors were surprised by the more dovish-than-expected comments. It will now take a lot to derail the year-end rally. 

Finally, we’re about to find out the Fed’s last monetary policy decision of the year! A decision that may bring equity markets towards their record highs.

The December rally is up to a good start. Several equity indices have surpassed their highs, while others are just waiting to do so. In this sea of optimism, the US central bank faces a complex equation: how to maintain confidence, retain power and keep the markets from getting carried away? We'll probably have some answers on Wednesday. In the meantime, investors can speculate on the latest US inflation figures. 

There are just a few stock market sessions left before the end of year that was a good vintage for Western markets. Investors are eagerly awaiting several central bank decisions this week, before things get a bit calmer in the days leading up to Christmas.

The monthly US employment report for November was eagerly awaited before the last US monetary policy decision of the year, scheduled for next week. 

Wall Street indices were up in premarket trading, ahead of Friday’s publication of the eagerly-awaited employment data. I don’t mean to sound like a broken record, but as I already mentioned repeatedly, investors are hooked on bad economic data, which confirms their preferred scenario of looming rate cuts.

The market is experiencing schadenfreude as more people struggle to find work. The configuration remains unchanged: rate cuts are taken for granted next year in the US and Europe, and more likely in the first part of the year. 

Stock markets are taking a break at the beginning of December, after their November surge. In times of euphoria on the market such as the one we're currently experiencing, it's essential to take the time to think about what could bring the whole thing crashing down. 

Gold is on a record high, bitcoin passed a symbolic milestone, indices are close to their peaks... The infamous December rally is up to a good start. Of the twelve months of the year, it is the one most likely to end in positive territory: almost three times out of four over the last 95 years. 

Let’s hope that December will be as good as November on the stock market. After eleven months, the 2023 stock market vintage looks set to be much better than 2022. But we still have to go the distance until New Year's Eve. 

The month of November ends as it started, in good spirits. The momentum continues on hopes that central banks will become more accommodating, and as usual, investors are clinging to economic data to guide their judgment on the future of monetary policy in the United States. 

As Charlie Munger bids farewell at the age of 99, stock markets are struggling to take off again, despite a clear appetite for risk. The dollar is falling as we await the week's upcoming macroeconomic data, in particular PCE inflation and a speech by Jerome Powell on Friday.

Despite a small dip in equity markets yesterday, investors' appetite for risk shows no sign of abating. Poor macroeconomic indicators reinforce the likelihood of a more flexible approach from central banks. 

After four weeks of gains, stock markets are catching their breath, but the fuel that has been driving them lately has not yet run out. Four sessions remain before the start of December, traditionally the least risky month of the year for the stock market: 69 rises for 26 falls over the last 95 years in the US.

Today is the last trading session before Thanksgiving, and futures were slightly higher in premarket trading, in anticipation of the release of a series of economic data.

Wall Street continues to rise, betting on an easing of monetary policy in the not-too-distant future. AI is the hot topic of the moment and the company that embodies this trend, Nvidia, is due to post results after the bell. 

This week will be a short one for investors, as the Thanksgiving holiday on Thursday will significantly reduce activity from Wednesday evening onwards. Artificial intelligence continues to take center stage, with Nvidia's results on Tuesday and the drama at the head of OpenAI. Meanwhile, Elon Musk is on the move, Argentina has elected its new president and OPEC is working to halt the fall in oil prices.

Wall Street is on course for a positive week. So far, the S&P500 has fallen just twice in three weeks. Investors are still super optimistic, already fantasizing about rate cuts next year.

Wall Street looks like it’s taking a pause today after a few days of strong gains due to optimism that the end of rate hikes has finally arrived. Futures were all slightly in the red in premarket trading. Biden makes another gaffe...

The publication of lower-than-expected US inflation in October removed investors’ last mental barriers to take more risks. All indices soared yesterday and there’s now even speculation about how many Fed rate cuts will happen next year. Some new elements strengthened this theory today. The blue-sky scenario is now likely to happen, just in time for the famous Christmas rally.

Investors were eagerly awaiting the CPI data to assess whether their ideal scenario that there will be no more Fed rate hikes would come to fruition. The data was even better than they (and economists) expected.

Investors are betting that the Fed will no longer raise rates, but it's a more reasoned bet than it might seem: they're betting on the big all-rounders, even if they're obviously also attracted by the more speculative cases.

While investors were already cheering the end of rate hikes, Jerome Powell brought them back to reality in a hawkish speech yesterday. However, this didn't have much impact on indices...

To pivot or not to pivot? That’s the question as the Fed head is due to speak again later today. His speech will be closely watched by his investors, who were disappointed by his silence on the monetary policy in another speech yesterday. Apart from that, it's a flurry of corporate results today, as is the case every Thursday during earnings season.

Wall Street is taking a little time to breathe after a bullish week buoyed by hopes of the end of the Fed’s monetary tightening cycle. In the meantime, earnings reports continue to flow, WeWork filed for bankruptcy and Chinese statistics continued to disappoint.

Equity markets were in the green yesterday but opened slightly down this morning, ahead of a flurry of corporate results, central bank decisions and macroeconomic statistics, all set against the backdrop of a powder keg in the Middle East. 

Shares have lost ground across the board on fears that the US central bank will maintain its restrictive monetary policy and that the Middle East conflict will spread. In the coming days, a number of key rate decisions and a flurry of corporate results will keep trading sessions lively. The spotlight is on Wednesday with two major events.

US futures were in the green after data on personal income and inflation came more or less in line with expectations. While everything seems to be going well for the American economy, corporate results for Q3 seem to be telling a different story...

Today's trading session is all about corporate results, the ECB's rate decision, and a set of economic data, including the first estimate of US Q3 GDP. 

The U.S. dollar continued the previous day's rally, while futures struggled for direction in premarket trading, after a mixed batch of results, including a disappointing performance from Alphabet.

The big event today will be the release of Microsoft and Alphabet's results after the closing bell. Investors want to find out if their bet on artificial intelligence is bearing fruit. In the meantime, they will focus on PMIs for the major economies, and on the comments from legendary investor legendary investor Bill Ackman.

Global indices continued to decline last week, with losses ranging from -2.4% on the S&P500 to -3.4% on the Stoxx Europe 600. Oil, the dollar and gold climbed, against a backdrop of heightened risk aversion due to fears of an extension of the Middle East conflict. The strength of the headwinds has caused indices to lose 8% since their July peaks.

Futures were in the red this morning as the 10-year U.S. Treasury yield flirts with 5% following Jerome Powell’s hawkish speech yesterday.

The situation is still tense on financial markets due to the major crisis in the Middle East. Corporate earnings releases are multiplying, helping to refine earnings trends for the end of the year. Jerome Powell is due to speak later today. 

Yesterday, equity indices went in all directions, amid the confusion of hard-to-interpret macroeconomic data and the worsening crisis in the Middle East. Investors can't see any clearer this morning, between the worsening conflict and quarterly earnings releases.

Investor sentiment is up and down at the moment, resulting in a kind of sideways movement in equities. To complicate matters, the market thought it was going to wait quietly for quarterly corporate results, only to find itself faced with a major crisis in the Middle East. Joe Biden is going to intervene personally. And new data published today reawakened rate hike fears.

The conflict in the Middle East has pushed up the price of gold, the dollar, oil and defense stocks, a sign that the financial sector is concerned about the situation. This heightened geopolitical tension coincides with the start of earnings season. In the background, the major debates over US interest rates and the strength of the Chinese economy continue to fuel speculation.

Apparently, Fridays the 13th result in an average gain of 0.1% on US equity markets, three times the average anyway. Yes, serious people have enough time on their hands to compile this kind of data. We'll see if this proves correct at the close, but in the meantime, let’s focus on large banks, the slight downturn on stock markets, and the latest Chinese statistics, which aren't great.

Equity markets continued their ascent yesterday despite economic data that would probably have undermined sentiment a week earlier. This is due to the perception that US monetary policy is changing. The Fed's central bankers have softened their rhetoric of late. So much so, in fact, that yesterday's release of a higher-than-expected rise in US producer prices was completely ignored. And today's CPI data could also be shrugged...

Financiers clearly got their mojo back, speculating on two of their favorite themes: the cut in US key rates and the arrival of a stimulus plan in China. On the first point, it's hard to blame investors for getting ahead of themselves, since it's the Fed officials themselves who seem hinted that a less punitive monetary policy was on the cards.

A series of events have strengthened investors' belief that rate hikes are over in the US. Until the next data of course, but Wall Street is focused on the short term and managed to get a rise yesterday, despite troubles in the Middle East. Today, focus is on the first corporate results for the third quarter.

The conflict between Israel and Gaza turned into full on war after an attack by Hamas that killed hundreds of people and led to retaliation by the Israeli army. It ignited a new geopolitical conflagration, the economic consequences of which are still difficult to assess. 

Friday started on a bad note with the announcement of the monthly US employment figures. The job market remains stubbornly strong, which does not please investors, who fear higher rates for longer.

Wall Street ended in the green, helped by two factors. The first one being oil, which fell sharply yesterday, and this was quite overdue, if we take into account the current environment of high rates, strong dollar and a difficult Chinese economy. Demand was bound to eventually falter.

The rise in US government borrowing costs is making life difficult for investors. Nervousness is tangible in the wake of the plunge in US government bonds, whose yields exploded as the two markers moved in opposite directions.

Investors are still having a hard time accepting that Fed rates will stay higher for longer. As a result, the dollar is rising, while gold and oil tumble and the yield on 10-year US debt stands at 4.70%. Most markets ended in the red yesterday, except the Nasdaq 100.

The small rebound seen at the end of last week eased the losses accumulated on the stock markets in August and September. This morning, the mood is one of relief following a budget compromise in the United States. The last quarter of the year end opens on a better note.

Although today is up to a good start, with reassuring inflation data, this last session of the month should not prevent September 2023 from being a poor vintage. Equity markets bounced back a little yesterday on the back of slightly buoyant news. They are now eagerly awaiting companies' Q3 results and forecasts. 

Wall Street futures were flat this morning ahead of economic data and Federal Reserve Chair Jerome Powell's comments. There are still many sources of tension on the markets, including soaring oil prices, higher for longer US rates and the dollar.

Red is still dominating on stock markets as investors await the next round of quarterly corporate results, due to start in two weeks' time. Stagflation fears have returned with a vengeance and the lack of catalysts has been obvious for some weeks now.

Wall Street futures were in the red in premarket trading, with investors still reeling from the hawkish speech of central bankers last week. And Jamie Dimon just added fuel to the fire... The risk of a US shutdown, which could come as early as next Sunday if Congress fails to agree on a budget for the next fiscal year, is also weighing on sentiment.

Things aren’t great on stocks markets at the moment, with Wall Street coming off a third consecutive week of declines. After the recession that everyone talks about but never sees, investors are focusing on the Fed pivot that everyone talks about but never sees. 

Stock markets continued to fall yesterday, as investors realize that key interest rates will remain higher for longer. The mood has become heavier and financiers are taking the Fed's threats seriously. As proof, the yield on 10-year US debt touched the symbolic 4.5% mark, while the 2-year hit a 17-year high of 5.19%. 

Central banks are at the forefront this week, with the Fed decision yesterday and the Bank of England’s today. Although they both kept their rate unchanged, their hawkish stance didn’t please the market.

It's hard to escape the Fed today. The market is expecting a rate hike pause, but is still concerned about inflation. How concerned? That's one of the issues at stake today. Investors are in a wait-and-see mode, driven only by the big tech IPOs in the US.

Caution is the word on financial markets on the eve of a major decision by the Fed on its key interest rates, with futures on the main Wall Street indices remaining flat this morning. There is little suspense about the decision itself, but there is much greater uncertainty about what comes with it, including the stance of US central bankers and their intentions for the future. And rising oil prices are only adding more worries.

How will the Fed impact the market this week? That's the hundred-billion dollar question, and in the meantime investors are trading cautiously, with Wall Street futures slightly in the red Monday in pre-market trading.

The atmosphere on Wall Street exchange is rather gloomy, between weak economic data in China and Europe and signs that inflation is resilient in the US. The U.S. services sector unexpectedly did better than expected in August, which goes against the idea that the US economy and inflation is cooling, and strengthens the case for higher rate hikes for longer. Lower than expected jobless claims also dampened the mood as it shows the job market is still very tight. Even Apple, the crown jewel of the NYSE, is having problems!

What will the economic damage be if central banks are forced to keep rates high to cool the rise in prices? It sounds like déjà vu, but this has again become the number one question on investors' minds.

Equity markets are struggling to return in the green. Although the odds are still in favor of a pause in Fed rate hikes, bond yields continue to rise, which on the contrary foreshadow a difficult monetary future. The cause is a potential reawakening of inflation, fueled by a surge in energy prices.

Wall Street reopened after an extended bank holiday weekend. Macroeconomic data is also back with the first major statistic of the week, unveiled overnight in China, as well as a central bank decision in Australia. China, which announces new economic support measures on an almost daily basis, continues to be investors' focus, often blowing hot and cold on markets. This morning, it's blowing cold.

The job data that everyone was waiting for didn’t disappoint. Employers added 187,000 jobs in August and the unemployment rate rose to 3.8 percent, while 3.5% was expected. The Bureau of Labor Statistics also revealed that wage growth slowed. This shows that the job market is cooling, and strengthens the case for ending rate hikes.

The Federal Reserve’s preferred inflation gauge rose slightly on an annual basis in July, but this was in line with expectations. In Europe and the US, signs are multiplying that inflation remains stubbornly resilient.

US stocks opened slightly higher this morning, with the S&P 500 Index up by 0.1% after the release of a weak ADP job report.

Stock markets kept the rebound going yesterday,  buoyed by China's efforts to reverse the negative spiral that has taken hold of its economy. Beijing's stimulus is welcome, but it seems a little too disorganized to create mass enthusiasm, at least at this stage. Investors' attention will quickly turn to the macroeconomic statistics that will punctuate the next three sessions.

Stock markets closed mostly on a slight rebound last week, after a rather complicated start to the month. The good times that lasted from January to July seem well and truly over:  the last three weeks have been tricky to say the least. Two factors have weighed heavily: China's weak economic recovery and fears of persistently high key rates in the US. 

Despite hopes, Nvidia didn’t deliver the rally some expected, the fault of a rather distrustful global market on the eve of a much-anticipated speech by the Fed Chairman. So it's time to listen to Jerome Powell today, live from Jackson Hole in Wyoming, where central bankers are holding their traditional annual summit at the end of August.

Nvidia's results were probably the most eagerly awaited corporate figures of August. The Californian firm didn’t disappoint, confirming the explosion in demand linked to artificial intelligence. This is a welcome boost for stock markets in need of a new chapter after a difficult start to August.

I know, I keep talking about it, but there’s no escaping the topic of big tech and central banks this week, since we have Nvidia’s results and the Fed ‘s Jackson Hole symposium.

Equity futures were slightly higher in premarket trading this morning, as traders assessed earnings from major retailers including Lowe's and Macy's.

Investors returned to risk-off mode due to rising bond yields and oil prices, as well as concerns over China's recovery.

Wall Street opened in red territory Friday, with China and the Fed denting investor sentiment, as well as a recent surge in bond yields.

Markets are stabilizing after the slump caused by the release of the minutes of the Fed’s July meeting yesterday. Most officials continue to see significant upside risks to inflation, and believe that further rate hikes may be necessary. 

Markets are increasingly worried about China's inability to get back on track economically, and about a chain reaction in the country's real estate and finance sectors. This is the main focus at the moment, alongside the usual minor worries: rate hike or no rate hike, inflation or no inflation, soft landing or hard landing, which came first: the chicken or the egg, and so on.

Today’s news includes Walt Disney, Novo Nordisk and new US legislation to control investment in China. But it's above all July's US inflation figures that captivated investors.

Tuesday's session saw a general return to the red for global indices. Italy suffered the most, with the Milan MIB index down more than 2%, battered by its large banking sector. The Italian government had taken everyone by surprise by introducing an exceptional tax on bank profits to capture part of the windfall generated by the ECB's rate hike. Intesa, Unicredit and co. were chopped up into small pieces, but the shockwave brought the entire European banking sector to its knees. Investors reinstated a risk premium on the bank, in case the Italian bombshell gave other executives ideas. The government was later forced to backtrack to avoid a meltdown, with the finance ministry issuing a statement stressing that the tax on net interest income would be capped at 0.1 per cent of assets.

The market is entering one of the quietest period of the year, with fewer things happening. investors are waiting for the last company results of this earnings season, while assessing the latest economic data.

It was a bit of a mess last week on financial markets. We had Apple and Amazon results, US labor market macro stats, a US credit rating downgrade, and conflicting comments from a few central bankers… This led to falling stocks and bonds, rising oil and a couple of other oddities.

“One day it looks like the world economy is collapsing, the next day everything is fine. I don't know what's happening.” These comments from Elon Musk yesterday on the sidelines of Tesla's quarterly results ring rather true. It shows that even the heads of major companies are somewhat spectators of the current turmoil. Quarterly corporate results are taking up most of the media space, while we wait for central banks to come back to the limelight.

Wall Street futures were flat today ahead of earnings from Tesla and Netflix. The bears are starting to get seriously depressed as indices come back close to their records. The flurry of corporate earnings releases hasn't reversed the trend at this stage, and it looks like large companies haven't had to suffer too much from the current high interest rate environment. 

Stock markets have had very mixed fortunes at the start of the week, with two constants: tech shines and China causes trouble. Now we're adding central bankers and large banks to the equation. 

The latest data shows China's economy remains sluggish, which is fueling hopes of a vigorous public stimulus - the kind everyone's talking about, but which has yet to materialize. In the meantime, earnings season really kicks off this week. It will last at least until the first days of August. In the U.S., statistics continue to defy high rates, which delights some and worries others.

The lower-than-expected US inflation reading in June got investors looking at the months ahead with optimism, hoping once again for the end of the Fed's rate hike cycle. It seems that the days of aggressive monetary policy will soon be over.

The focus is once again on inflation today, with new data showing that the combination of high rates and an improving basis for comparison is helping to bring overheated prices within more reasonable bounds. 

The world's stock markets edged up yesterday, ahead of US inflation and the first quarterly results from leading companies later this week. Financial markets are still moving according to artificial intelligence opportunities, changes in US monetary policy, or from the promise of a turnaround in the Chinese economy.

With just a few days before companies start releasing their half-year results en masse, investors are confused. Their natural optimism is somewhat challenged by poor visibility on economic dynamics due to higher key interest rates.

Rate hike fears crippled global markets yesterday, with bond yields reaching new highs. Europe's stock markets were particularly hit. The British FTSE 100 tumbled over 2%, just like Germany, Spain and the Netherlands did. The French CAC40 lost 3.13% at the close, with no stocks in the green. More defensive markets such as Switzerland, Belgium and Denmark fared little better. In the United States, resistance was better. The S&P500 and Nasdaq 100 gave back just 0.8% and the Dow Jones barely more.

The market turned red yesterday because of the usual culprits, namely lack of growth in China and the hawkish US monetary policy. 

Wall Street is back after the 4th of July holiday, in a session punctuated by the publication of PMI services indicators for the major economies. 

With the economy and inflation bending but not breaking, despite rising key interest rates, financial markets ended the first half of the year with solid, if not exceptional, performances. Will the second-half be just as good, or should we run away? 

Again, investors were reminded of the determination of Western central banks to raise rates at the ECB conference in Portugal yesterday. And this time, they couldn't care less. And some good news today proved them right. Inflation dropped more than expected in the US and Europe.

Yesterday, Wall Street struggled to sustain the rebound seen on Tuesday, but overall investors are becoming less nervous, slowly accepting that more central banks will remain hawkish for longer. Comments made by central bankers at their meeting in Sintra did not affect indices. 

Green has returned to Wall Street and global indices thanks to upbeat US economic data. The resilience of US consumer spending has led to renewed optimism. It seems that the much-talked about recession – which for a year was supposed to be imminent - is not coming to America anytime soon. The economic outlook is still uncertain, but not dire, and investors have now come to terms that a few more rate hikes are on the way. 

Investors are feeling a bit lost and don’t really know which way to go. Wall Street opened in the green yesterday, before closing lower. Investors are taking a wait-and-see attitude ahead of a new flurry of statistics today, which will put the spotlight on American consumer spending. Meanwhile, hopes of a an economic stimulus in China are slowly rising.

The mood is changing on financial markets, after inflation returned with a vengeance, making investors’ life difficult and forcing central bankers to maintain a punitive approach to interest rates. The latest economic statistics are clearly bad, raising the specter of recession or, in the worst-case scenario, stagflation. The week ahead will offer more clues, with a raft of macroeconomic indicators scheduled and a flurry of speeches by central bankers.

US markets bounced back yesterday, driven by tech stocks, but it’s clear that uncertainty and doubts are creeping in. Investors almost felt that the fight against inflation was behind them, but it is becoming increasingly clear that it isn’t the case. Central bankers can’t help but tell them " we told you so".

Investor sentiment is deteriorating this week, with the accumulation of signals that inflation may not be behind us. Today, many central banks are releasing their rate decision, sometimes in spectacular fashion.

Futures on the main Wall Street indexes were slightly down today after investor sentiment took a few hits, including a lack of new stimulus from China, sticky inflation data in Britain and a drop in European real estate. And of course, investors are awaiting the start of a two-day testimony from U.S. Fed Chair Jerome Powell. Investors are awaiting questions about whether rates will rise again in July and peak in a 5.5% to 5.75% range as expected.

Investors are still closely watching any data that could influence the Fed’s next monetary policy decision, after June’s pause in rate hikes. They also don’t want to see the economy slip into recession. And the latest housing data just gave them hope.

The return of rate hikes fears didn’t weigh on markets for too long, as US equities rallied sharply yesterday, and the S&P500 entered a bull market. But the focus will quickly turn to the monetary policy meetings scheduled by the Fed and ECB next week. 

The unexpected rate hikes announced in Australia and Canada reminded investors that inflation hasn't evaporated from the risk landscape. The return of the hawks, i.e. the most orthodox central bankers, triggered some sell-offs yesterday in US growth stocks, which have been on a rollercoaster ride since the start of the year.

Well, I think it's clear: the market isn’t going down any more. Even when it appears to be doing so, investors find a way to save the day. This was the case yesterday, when the Nasdaq returned to the green at the end of the session, gaining 0.01%, while the Dow Jones was up by 0.03%. These variations are obviously anecdotal, but they show investors' resilience in a difficult and complex economic environment. 

With only a few days to go before the Fed unveils its monetary policy rate decisions, the pressure is on after the Australian central bank unexpectedly tightened its monetary policy, concerned about persistent inflation. Meanwhile, the Nasdaq is holding up well, China is speculating on a hypothetical support plan and Apple is presenting a new $3,500 toy.

The mood is still upbeat on equity markets, buoyed by economic strength in the US and the latest rumor of a stimulus plan in China. Tech stocks are still I the driving seat, as we await the next monetary events, first of all the Fed meeting on June 15. 

We’re nearing the end of the debt-ceiling psychodrama in the United States, which gives a welcome boost to global indices.

All Western markets ended in the red yesterday due to various headwinds. Exceptionally, they were unable to count on support from the tech sector. Investors were torn between the high probability of a resolution to the US debt ceiling issue and the return of rate hike fears.

Nothing new so far this morning, China continues to disappoint investors, AI still rules financial markets and the US debt ceiling remains the main focus of investors, as the month of May comes to a close.

Wall Street reopens after the long bank holiday weekend. Macroeconomic data also make a comeback with the first major statistic of the week, the Conference Board's US consumer confidence index. The focus of investors is still on the debt-ceiling in the US, after Joe Biden and Kevin McCarthy reached a tentative agreement on the US debt ceiling, which must now be scrutinized by the Congress. 

Things are really heating up in the American tech sector, which benefits the Nasdaq 100 and the S&P 500, but elsewhere, the mood is not exactly festive. The Dow Jones is lagging, European markets are dragging their feet, the UK is sinking further into a deep crisis with Gilts drifting, Germany is officially entering recession, Beijing is struggling to turn its economy around, and oil is down around 3%. New data shows US inflation is proving resilient. Here's the overall picture for this final session of the week.

Artificial intelligence has been driving investment on Wall Street since the start of the year, and Nvidia just confirmed the trend. Nasdaq futures jumped nearly 2% this morning after the chipmaker issued a super upbeat guidance that even sparked an AI rally. Shares of Nvidia jumped a whopping 30% in premarket trading, while Microsoft Corp and Alphabet also rose.

The lack of good news coming from US debt ceiling negotiations and fears for future economic momentum weighed heavily on Wall Street yesterday. Today, investors are focused on Janet Yellen and the latest draft of the Fed's monetary policy meeting minutes.

There are still obstacles to overcome before Democrats and Republicans can reach an agreement in debt ceiling talks, but a compromise is close. Equity markets have returned to narrow trading ranges, awaiting news about the outcome of these negotiations. 

The negotiations on the US debt ceiling are still the focus of investors. This is a good thing, because otherwise we would probably be bored stiff. Relations between China and the US still rocky, after the banning of Micron there and a G7 that angered Beijing.

Investors’ appetite for risk assets has been reawakened. Let’s hope that Jerome Powell will not kill it when he speaks later today. 

Joe Biden's reassuring words on the US debt ceiling talks boosted US indices. He said he's "confident" that a debt ceiling deal will be reached that will prevent a U.S. default. 

The tech sector is still the main driver of indices, as investors keep using the techniques that have worked for them over the past decade. Talks about raising the US debt ceiling are still the main focus of investors, who fear the consequences that a default would have on global stock markets.

Bad news is starting to pile up in the U.S., but as often on stock markets, bad economic news can mean good news, since it can lead to a more dovish Fed. But it's not that clear at the moment what really is good news for investors. Yesterday, it was the Empire State business index that showed signs of severe fatigue, with a plunge well below what was expected in May. As for the US debt ceiling situation, Treasury chief Janet Yellen reiterated her warning that the US could run out of cash by June 1. Joe Biden has planned to meet with the congressional leaders of the Democratic and Republican camps today to try to break the deadlock as soon as possible.

Once again, investors are starting the week starts with many important questions in mind. Will the US authorities avoid economic troubles by raising the debt ceiling? Will China finally deliver on its promises of economic recovery? Will Ukraine kick Russia out of its territory? Will an artificial intelligence replace me by the end of the year? Sorry, I’m getting a bit off track here…

The three main Wall Street indices decided to play a different tune yesterday. The Nasdaq 100 remained in the green, helped by a 4.3% jump of Alphabet after the announcement of new artificial intelligence features to answer the offensive of Microsoft. By the way, here’s a tip: if you need funding right now, don't forget to slip the term AI in your communications, it works like a charm no matter the sector: technology, baking, scuba diving, plumbing, real estate... 

While the Nasdaq remains pretty strong, other indices are struggling a little more. Corporate results continue to move markets, as well as macroeconomic statistics, monetary decisions and Jamie Dimon.

Investors were trading carefully ahead of the monthly US inflation report, which came in at 8.30 am. The little red lights are still flashing in large numbers, so a return to looser monetary policy is the market's best bet. And this data should influence the central bank's next move.

The week started with a lackluster session on the stock market, with investors brushing aside all the current headwinds to bet on the easing of the US monetary policy. The focus is also on the U.S. debt ceiling and corporate earnings.

Investors are a little on the edge as they watch the latest developments regarding US regional banks, although Apple calmed them down a bit. This is basically where we’re at right now on markets, at the end of a week punctuated by several central bank monetary decisions.

The Fed raised rates yesterday and softened its stance. The market is having trouble seeing things clearly due to Jerome Powell sending mixed signals in his speech. Investors are also reeling from the latest episode in the banking crisis, and it’s reflected in futures today, which were in the red.

Here we go again, investors are again hoping and praying that the Fed will come to their rescue. The institution will release its policy decision at 2:00pm, followed by a conference to present the decision. Jerome Powell’s speech will be a tricky exercise, since the banking crisis made the situation even more complex. It is eroding confidence and causing institutions that seemed safe until recently to collapse. 

US stock futures were struggling for direction ahead of the start of the Federal Reserve's two-day May policy meeting, with investors still reeling from the news that another bank collapsed in America.

Futures were in the red this morning as investors awaited the much-anticipated PCE data, which is expected to influence the Fed’s monetary policy decision. The US central bank is due to meet next Wednesday.

U.S. stock index futures were in the green to start the day after an upbeat forecast from Meta Platforms. However, these are quite hectic times, and markets can quickly change direction after a worse-than-expected data or corporate release.

A slight breeze of caution is sweeping through equity markets ahead of major earnings reports from tech giants and a series of crucial indicators for the direction of US monetary policy. Microsoft, Alphabet, Visa, Nestlé, PepsiCo, McDonald's, Whitbread, and Novartis are just a few names on today's earnings release calendar, indicating a busy day in the financial markets. As usual, tech companies, which are closely watched by investors, will announce their performance after the US market closes. It's somewhat like a long-distance showdown between ChatGPT and Bard, as experienced observers may have noticed, at a time when artificial intelligence is becoming increasingly prevalent. It is the case at MarketScreener, where our engineers have been working for months on how to replace or assist us in our jobs, my team and I are feeling the impact. 

Wall Street indices remained flat this morning ahead of a week packed with earnings reports, including tech giants, as well as economic data and central bank meetings.

Wall Street struggled in early trading as investors are getting confused by the mixed economic data released in the past few days. It’s the usual conundrum: data showing that the economy and the job market are cooling fuels fear of recession but raises hopes of a dovish monetary policy from central banks. Data showing resilience in the economy raises hopes of a soft economic landing, but raises fears that inflation will linger for longer. 

Volatility is easing. The optimists have something to cheer about, because these phases usually mean that the environment is normalizing. This is good news for equity markets, which do not like uncertainty. Those who find it particularly boring can always console themselves with the numerous corporate earnings releases, which always contain a few surprises. 

The latest corporate results from big names were quite mixed, with Netflix posting a drop in earnings for the first quarter. Futures on the Dow Jones fell 0.3%, S&P 500 futures were down 0.6%, and Nasdaq futures dropped 0.8%.

The attention of investors has turned to earnings reports as they look for new catalysts to keep the good momentum going on markets. Chinese growth could help, even if it raises some questions.  

Last week was pretty busy and the coming one promised to be just as hectic. The focus will be on companies as earnings season picks up pace. We won't escape monetary policy, with a whole set of speeches by central bankers on the week's agenda. There will be at least one per day from the Fed, the ECB, the BoE and the SNB. 

Data published yesterday seems to confirm that both inflation and the job market are cooling in the US. Jobless claims climbed to 239K from 228K the previous week, while producer prices unexpectedly fell to 2.7% year-on-year in March from 4.6% in February. This is viewed as a positive signal towards a more dovish monetary policy by the Fed. The underlying momentum remains relatively fragile as earnings season starts.

The long-awaited CPI figures were pretty much a flop yesterday, with a tiny rebound for 3 minutes, before indices lost their mojo and ended the session lower. Investors were not impressed because although data showed US inflation was slightly lower than expected in March, at 5% year-on-year - while 5.1% was expected by economists - core inflation was slightly higher than in February. This is in line with what was expected in this case, but it also shows that prices are still on the rise.

Investors were eagerly awaiting March’s CPI data. which could influence the US interest rate path. Last week, US employment figures showed the job market is cooling, raising fears of recession, as well as hopes for a more dovish monetary policy.

Wall Street reopened yesterday after the Easter weekend in a calm atmosphere. Data released last week shows initial jobless claims climbed more than anticipated, which raised fears of recession and a hard landing for the economy, but also increased expectations of rate cuts by the Fed.  Investors are aware of the current turmoil and are even prepared for a 0.25% hike by the US central bank in early May, but they are also already expecting a first rate cut as early as this year.

It's the last session of the week before the Good Friday bank holiday, and the mood on stock markets is a little gloomy after a fiery March. Fears of an economic slowdown are taking precedence over hopes of an easing of monetary policy.

Equity markets were mostly down yesterday, especially in the US where concerns about a hard landing overtook hopes of a future rate cut. Hopes of a best-case scenario have been somewhat overshadowed in recent days by headwinds, but it takes more than that to debunk investors' incorrigible optimism. 

Oil prices rose by about 6% yesterday after the OPEC+ cartel announced an unexpected production cut. Commodities outperformed. The mood was dampened by the release of the ISM manufacturing index, which showed that the US manufacturing sector contracted in March for the fifth straight month, and came in below expectations at 46.3.

As we await the release of US March employment figures later this week, an important determinant of the Fed's monetary policy, Monday's session is marked by a surprise decision by OPEC+ on its oil production. The first quarter of 2023 is rather positive for equity markets, a sign that risk appetite is back after the turmoil of 2022.

Inflation shows signs of cooling in the US and Europe, which is boosting indices all over the world. In premarket trading, the Dow Jones and the S&P 500 were up 0.3%, while the Nasdaq inched up 0.1%, after the release of reassuring inflation data.

The Nasdaq has taken off again on Wall Street after two sessions of hesitation. Investors are increasingly willing to ease rates, believing that this is the best way to respond to the banking crisis. And so much for price rises. Inflation data will however dominate the end of the week, with a first estimate for Germany in March today, before US PCE inflation tomorrow.

It is difficult to find a direction for equity markets at the moment. Traditional benchmarks are blurred and there are conflicting signals. The good news is that the worries about the health of the banking sector have eased, although they have not completely gone away. 

Easing fears about contagion in the banking sector allowed the financial sector to get out of the rut while pushing down safe havens. The bond market has rallied slightly, much to the detriment of tech stocks. 

While worries about the banking sector linger, the US stock market remains resilient. The financial sector's setbacks are, in the opinion of most investors, the signal for a forced return to a favorable monetary policy. A bold gamble that benefits certain risky assets.

Wall Street resumed its upward trend yesterday, with the only thing on the mind of investors being a future easing of monetary policy. But that's not stopping banks from wobbling, with fears over Deutsche Bank in particular. 

The Fed did what investors expected it to do yesterday and markets reacted well. But the party was spoiled by Janet Yellen, who refused to embark on a universal deposit guarantee of US banks. As a result, the banking turmoil continued.

Investors have a date with the Fed this afternoon, and they’re trading with a certain amount of confidence this morning that contrasts with recent days. All the main global indices are in the green, with the S1P 500 up 1.3%, the Dow Jones up 0.9% and the Nasdaq 100 up 1.4%  after the open.

Banks fall and markets rise. It's a bit surprising, but investors are still quite comfortable with the return of central banks bailouts. After all, when the sorcerer's apprentices of finance mess up, there is always a regulator or a central bank to ensure the systemic balance. 

Wall Street's main indexes opened on a mixed note, with the Dow Jones and the S&P in the green while the Nasdaq remained in red, as investors assess the takeover of Credit Suisse and its impact on the Fed’s rate decision on Wednesday.

The support measures implemented by financial authorities after a wave of bankruptcies in the banking sector seem to have paid off. But I've been around the markets for too long to find this totally reassuring. 

Credit Suisse troubles rocked the US and Europe’s banking sector yesterday. The guarantee provided by the Swiss National Bank last night eased fears somewhat, but the cracks that are appearing on both sides of the Atlantic in the financial world are worrying. Will this force central banks to end restrictive monetary policies? This is the big question of the second half of March, which will probably shape the months to come.

Yesterday, the calm had returned to stock markets after positive US data showing that inflation slowed down in February. The statistics ended the global rout in banking stocks that started on Friday after the collapse of SVB Financial. Figures were in line with expectations, which fueled expectations of a smaller rate hike at the Fed meeting next week. But then Credit Suisse threw a spanner in the works...

U.S. bank failures and the strong response from authorities are confusing investors. Some are appalled by the speed with which the situation has deteriorated, while others believe that it will force the Fed to return to a better monetary policy, supporting activity and restoring confidence. As is often the case, the reality is likely to be more complex with the addition of a new variable to an already complex economic equation. 

If there’s an expression that has been overused in the last 72 hours in financial markets, it’s certainly "the canary in the coal mine". Is Silicon Valley Bank (SVB Financial) the "canary in the coal mine", i.e. the first domino in a catastrophic series? US authorities have ensured that this is not the case, but by sending an insidious message: take risks, we will always take care of the rest. Investors seem reassured. Let's examine this in a little more detail.

Has anyone heard about SVB Financial before yesterday? Not me! This Californian bank created havoc on Wall Street yesterday by exposing its difficulties. With a considerable psychological effect that awakened the old demons of the market. We'll see if this is just another variable in the complex equation on rates and inflation or if the panic will pass.

Wall Street futures were down today as investors worry about interest rates following Jerome Powell’s hawkish speech on Tuesday. They are now awaiting tomorrow's employment report for February, which could lead the central bank to go for a 50-basis points rate hike later this month instead of 25 basis points.

Jerome Powell got tough yesterday: he warned that rates will have to be raised higher than expected to regain control of prices. Investors were expecting this, so indices took a hit but did not collapse. Investors struggle to consider the possibility of a recession, because negative signals continue to be contradicted by an economic reality that, on the surface, remains dynamic. 

Today’s highlight is Jerome Powell's first testimony in before the Senate Banking Committee. Investors are eager for clues about the interest rate and inflation outlook. If the Fed is looking at a 50-basis point hike this month instead of the expected 25 basis points, there should be signs in Powell’s speech.

We’re at the start of a crucial week for monetary policy, as it includes a testimony from Federal Reserve Chair Jerome Powell on Tuesday and Wednesday and a monthly payrolls report on Friday. Investors are looking for cues on the trajectory of interest rates after the release of data showing that the job market is still hot and that inflation remains resilient.

The head of the Atlanta Fed invigorated the American market yesterday by adopting a more conciliatory tone than expected. As a result, investors are already looking forward to a positive weekly result. This will require overcoming a few pitfalls on the day's session, including the latest round of weekly data. 

Worries about a tightening of monetary policy seem to be taking hold again among investors. The data seems to be pointing in that direction and projections of key rate hikes are being revised upwards.

Investors are still stuck in the rate-growth-inflation quagmire, so much so that they might be missing positive signals sent by China.

Today ends a volatile February, which saw the return of Fed rate hike worries, as the US economy shows no sign of abating and data points to resilient inflation.

It was looking so good… Inflation had been tamed, and central banks were about to end their rate hike cycle… But this ideal scenario ended abruptly on Friday with the publication of stronger-than-expected US inflation data.  

Futures for Wall Street’s main stock index tumbled on Friday after the release of higher-than-expected U.S. inflation data that could influence the Fed’s rate hike policy. 

Nvidia strong sales guidance helped lift Wall Street's mood, with futures up this morning, although investors still worry about the Fed's monetary policy.

Wall Street had its worst day so far in 2023 on Tuesday. Why? Because a good PMI reading renewed fears that the Fed will have to raise rates further to avoid an overheating of the economy. Once again, good economic news is not always good news for financial markets. 

This week may not be as hectic as previous ones so far in 2023, but there's still plenty to animate the market. Today is filled with economic data, including PMIs. Wall Street reopened after a long weekend, and US futures are down.

Investors were looking on the bright side of life after Jerome Powell's soft speech on Wednesday, already seeing the end of rate hikes. But that was before the publication of US January employment figures today. 

The market feared a sanctimonious Fed for its first monetary policy decision of the year. What they got was a confused Fed, which reinforced the prevailing theory: inflation will slow down, the economy will land softly and the central bank will be able to return to a more favorable rate policy. The first big hurdle looks like it has been cleared for the early-year rebound. Today, it's time for two more central banks and a slew of corporate results.

January is over and February starts with a monetary policy decision. Investors expect to see their positive scenario validated today by the US central bank.

Investor’s sentiment took a small hit due to disappointing earnings and forecasts from big names such as Caterpillar, McDonald's and Pfizer, ahead of the Fed’s monetary decision tomorrow.

This week is particularly important for investors, because it could provide answers to several questions. Why? Because we have three monetary policy decisions from central banks and a few hundred company results... Will they confirm the renewed optimism seen since the beginning of the year?

Optimism continues to soar across equity markets, where investors continue their harvest of risk assets. The Nasdaq rallied 2% yesterday and Bitcoin returned to the USD 23,000 level for the first time since August. At the risk of sounding like Debby Downer, it all seems too much too soon…

It's going to be another big week for corporate earnings, which will give investors some clues about the state of the economy amid concerns about recession. 

The session starts better than yesterday's, after Netflix announced that it added way more customers than anticipated in the fourth quarter. It also posted operating profit $200 million above expectations. After a gloomy session yesterday, which contrasted sharply with the optimism of the beginning of the year, Western equity markets look motivated to rebound, despite the fight over the debt ceiling in the United States. 

Futures for Wall Street's main stock indexes fell sharply on Thursday, due to worries over U.S. recession following the release of weak economic data and hawkish comments from Fed officials. St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester yesterday both advocated for raising rates beyond 5%. 

Large banks kicked off earnings season on a mixed note, with Morgan Stanley doing well, while Goldman Sachs disappointed investors. They are closely monitoring earnings reports to get more clues about the state of the economy and how it will affect the Fed's monetary policy.

Wall Street reopened after the long Martin Luther King Jr. Day holiday weekend, and investor sentiment was impacted by mixed news. 

Wall Street's main indexes opened in the red on Friday after worrying statements from bank executives after several financial institutions posted their fourth quarter earnings.

Futures were slightly up this morning as investors anxiously awaited US inflation figures. They've now just been released, and they're in line with expectations. After the announcement, indexes went up and down and up.

The bulls are overtaking the bears in early 2023. The good news is that it looks a little more sustainable than last year. In January 2022, the bullish run lasted three sessions before a long descent into chaos, that later accelerated by the Russian invasion of Ukraine and the launch of the Fed's monetary tightening cycle. It is China and cooling inflation that are now causing this cautious optimism.

The new year has reawakened investors' appetite for risk, especially in tech stocks. They believe their torment will stop with the upcoming end of the Fed's monetary tightening cycle. The head of the institution, Jerome Powell, had the opportunity this morning to give them a message.

Wall Street's main indexes opened in the green on Monday on optimism around slower wage growth in the US, lower-than-expected inflation data in the Eurozone China reopening its borders. European markets are up to a good start in 2023, while in the United States, it's more mixed, as it took a euphoric session on Friday to tip the balance in the right direction. 

Here's a selection of the biggest variations of the week, up and down!

US stock futures rose sharply this morning after the latest employment report from the Labor Department confirmed that the job market is cooling down.

Hopes that the Fed was going to turn dovish at the start of the year have just been crushed. Signs that inflation is cooling in the US and Europe fueled expectations that central banks were about to stop rate hikes, but that was before the release of the Fed’s minutes from its latest policy meeting. They showed officials believe higher interest rates need to stay a while longer to curb inflation.  They don’t even see any rate cuts in 2023.

Investors are facing a lot of uncertainty to start the year. The holidays that delayed the recovery of several markets did not help. The NYSE remained sluggish yesterday, betrayed by some of its star stocks and a sharp decline in energy companies. 

This is the last trading session of the year before the market starts 2023, which we hope will be better for stocks than 2022. US tech companies bounced back yesterday, while bond yields eased a little. Although yesterday was a good session, today Wall Street opened in the red. 

The atmosphere is not particularly carefree or relaxed on stock markets, in the traditionally quiet week between Christmas and New Year's Eve. Investors did not get their end of year rally, perhaps because indices had already rebounded quite a bit since mid-October. The reason for this post-Christmas depression has not changed: the central banks' hawkish policy is frightening investors, who fear an uncontrolled slowdown of the major economies. If inflation was the central theme of 2022, economic momentum promises to be the common thread in 2023.

In the absence of good economic news in the United States or Europe, investors are clinging to what they can. At the moment, Beijing represents a glimmer of hope, since it started easing Covid restrictions and announced measures to support its economy. Commodities have outperformed this year.

As usual, the week between Christmas and New Year remains very quiet. Wall Street reopened in the green after a long holiday weekend, boosted by reports that China is about to end its Covid-19 quarantine policy for incoming international travelers.

The last session before Christmas is not up to a great start, with all the main indexes across the world opening in the red. Investors are digesting a new reading on US inflation, before the long holiday weekend.

The unexpected good mood of the American consumer brought the stock markets out of their torpor yesterday, allowing them to erase some of the losses accumulated in the previous sessions. This has triggered a pre-Christmas mini-rebound, that already ended today.

Alphabet, Meta, Salesforce, Amazon, Royal mail, Nike, Puma, Adidas, JD Sports, Carlyle, Tyson foods, Netflix, Micron, Tesla, Costco, MillerKnoll, Bombardier, Boeing and Toshiba feature in this press review!

Wall Street opened in the green, after four-straight sessions of losses, as the long Christmas weekend looms. Investors cheered the strong results from Nike and Fedex. However, unless there is a miracle in the last sessions of 2022, investors might not be getting their usual Christmas rally.

Nobody saw this coming. Overnight, the Bank of Japan amended its yield curve control policy, paving the way for more interest rates hikes. This created a negative butterfly effect on stocks, bonds and the dollar and sent all global indexes in the red this morning, including Wall Street.

Equity markets have had a second week of decline, which brings them back around their mid-November level. There was a 2.1% drop for the S&P500, -2.8% for the Nasdaq and -1.7% for the Dow Jones. The main driver is still the pivot in the US monetary policy. Investors are trying to guess when the peak of the current rate hike will occur, and at what altitude.

This was a bad session for equity markets yesterday. Investors were still reeling from Jerome Powell’s speech on Wednesday and took a beating from Christine Lagarde on Thursday. The pro-bounce scenario for stocks that had begun to take shape in recent weeks is unraveling as recession fears mount. It's not the best of entries for this last session of the week, which coincides with the "day of the four witches", when several derivative deadlines telescope. 

There is no escaping the central banks today, as several monetary policy decisions have just been announced. And the market reaction isn't great since all the main indexes are in the red today. Yesterday, it was the Fed that fired the first shot, adopting a tone that was less accommodative than investors had hoped. As a result, Wall Street lost some ground and will probably have to revise its baseline scenario to make it a little more cautious.

Let's mention two big topics this morning and a smaller one, although it could also have implications for financial markets. We have of course the countdown to the U.S. central bank's final monetary policy adjustment for the year 2022. After raising rates four times by 75 basis points, the first time this has happened since the 1980s, the Fed is expected to reduce the pace, but without totally releasing the pressure. Verdict this afternoon.

Things are getting serious today, with the first in a series of important macroeconomic events: Consumer prices. They’ve just been published, and investors can breathe a sigh of relief as they came in better than expected.

Investors remain cautious at the start of a week full of important economic events. There are only a few stock market sessions left this year, but a lot is going to happen in the next few days. If all goes according to market expectations, four major central banks will raise their key rates by 50 basis points. 

It's the reading every investor was waiting for, and it ended being rather disappointing. Monthly producer prices data came in higher than expected, which could mean that the Federal Reserve will keep raising interest rates for longer to tame high inflation.

On stock markets, it's a bit of a complicated week. The recent good news is fizzling out and the markets are dragging their feet in a fourth consecutive session of decline, as investors are uncomfortable with the economic and financial context. For the week, the S&P500 is down -3.4% and the Nasdaq 100 -4.1%. 

Investors were so focused on the Fed pivot to a dovish monetary policy that they almost forgot that a recession is looming. They got a reality check when the CEOs of Goldman Sachs, Bank of America and JPMorgan Chase said in separate interviews that they were bracing for a downturn, since inflation and the slowing economy will eventually impact consumer spending power.

Wall Street opened flat after yesterday’s bearish session over concerns about the Fed’s monetary policy. It’s the usual confusion among investors, after the publication of good economic data yesterday. Although it shows that the economy is holding up well against rate hikes, and a soft landing is possible, this also means that the Fed could be raising rates for longer to control inflation.

The week starts on a mixed note, as investors take in the stronger-than-expected U.S. jobs report and signs that China is easing its Covid policy. For some, this renewed hopes that a soft landing is possible after all. For other investors, this means that the Fed may have to keep hiking rates for longer. This is because the wage component was twice higher than expected, a sign that inflation might be taking hold.

Investors thought that the pivot to a dovish policy was reached on Wednesday, when Fed chair Jerome Powell signaled that the central bank would go for a smaller rate hike in December. However, job data released today ruined the mood.

Fed chair Jerome Powell reassured investors in his speech yesterday, which led Wall Street indexes to new highs. He hinted that the December rate hike could be more moderate than in November, while reiterating that more efforts are needed. “The time for moderating the pace of rate increases may come as soon as the December meeting”, he said.

November ends with a slightly positive balance sheet, with the S&P500 up 2.2% and the Nasdaq 100 up 0.9%. Wall Street remained flat today in pre-market trading, ahead of Powell's speech, and after the release of the ADP National Employment report, which showed that private employment remains resilient.

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Rising Covid cases in China hit investor sentiment yesterday, but better news came overnight, with Chinese authorities pledging to boost elderly vaccination rates. In addition, Covid cases fell for the first time in a week. This lifted Asian and European markets today, while Wall Street opened flat.

Investor sentiment is hampered by worries about China's economic growth as Covid cases rise in the country. Demonstrations broke out in several cities this weekend against the Covid restrictions that have been going on for nearly three years.

After Thanksgiving, Wall Street remains very quiet, with investors keeping an eye on Black Friday sales to assess the impact of inflation and how it will affect Fed policy. U.S. stock markets are open for a half session today until 1 p.m. ET. The National Retail Federation estimates that 166.3 million people will be shopping from Thanksgiving Day through Cyber Monday. 

On the eve of Thanksgiving, investors are eager for clues about what the economic future holds. The release of the minutes from the last Fed meeting early this afternoon will be an opportunity to fine-tune the scenarios. However, the PMIs released today gave them much more clarity.

Wall Street struggled yesterday, as Brent prices fell more than 5% after China implemented new lockdowns due to rising Covid cases, and following reports that Saudi Arabia supports OPEC+ increasing supplies. However, oil prices recovered today, after Saudi Arabia denied these reports. This lifted the Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures, who were all up around 0.4% this morning.

The increase in the number of Covid cases in China caused turmoil across Asian financial markets, which is weighing on US indexes this morning. The Chinese government introduced further restrictions, fueling fears about global demand.

After yesterday's sell-off session due to hawkish comments from Fed officials, Wall Street returned to the green this morning. This is despite ongoing worries that the Federal Reserve will be forced to raise interest rates higher than originally thought to tame inflation.

Mixed economic data is weighing on investor sentiment, with strong results from Nvidia, a disappointing guidance from Target, while Walmart is doing well and the lower-priced retailers seem to be doing better. The many speeches from Fed officials are adding to the confusion.

Investors were trading cautiously in per-market trading today, ahead of the release of retail sales data. The market wasn't sure if it wanted strong retail sales or weak ones, and the reaction was initially muted after the US Census Bureau posted better-than-expected figures.

Monday wasn’t a great start to the week, as the rally that began after Wednesday’s lower-than-expected US inflation reading fizzled following hawkish comments from Fed official Christopher Waller. But today, the mood improved again after Fed vice-president Lael Brainard gave a reassuring speech, along with the release of good October price data.

The better-than-expected U.S. inflation reading and pro-recovery measures in China have boosted investor morale for the past few days. However, a Fed official already dampened investors' hopes on Sunday.

 It was a good day yesterday on Wall Street, after a much better-than-expected inflation reading brought investors back to life. Investors are now mostly expecting a 50-basis point rate hike in December, instead of the now usual 75 bps. 

Donald Trump's Nemesis, Ron DeSantis, stroke a very large victory in Florida, against the Democrat Charlie Crist. He now stands as the main rival of Trump's presidential bid for 2024.

Donald Trump's Nemesis, Ron DeSantis, stroke a very large victory in Florida, against the Democrat Charlie Crist. He now stands as the main rival of Trump presidential bid for 2024.

It's election day today in the US, and the stakes are high. Its consequences on stock markets are hard to predict. For now, indexes are showing signs of stabilization. But the election results and US inflation figures on Thursday might bring new turmoil.

Investors are optimistic by nature. Although Jerome Powell made it clear on Wednesday that the much-awaited pivot towards a dovish monetary policy was not for now, today's bad employment numbers have boosted indexes, with the Dow opening at +1.1%, the S&P at +1.5% and the Nasdaq at +1.8%. The data supports speculation that the Fed may slow the pace of its rate hikes as soon as December.

They were sure the pivot towards a dovish policy was for now, buy investors got a hard reality check yesterday when Chairman Powell made it clear that the time wasn't now. However, he didn't shut the door completely, so there are still reasons to hope.

There is a lot of anticipation around the Fed's monetary policy decision this afternoon. Investors are hoping that the U.S. central bank will introduce some flexibility into the steering of its monetary policy. As this has been the main fuel for the rebound of the last fortnight, a confirmation would be welcome to avoid the double step backwards that follows every step forward in 2022 in the stock market.

Investors are trading cautiously ahead of the Fed’s meeting tomorrow. A fourth 75 basis points increase is widely expected, bringing the lending rate to a 3.75%-4.00% range However, investors hope that the central bank will take a softer stance and start talking about easing its pace of rate hikes.

Today is the start of a crucial fortnight for markets, with a monetary policy decision by the US central bank this week and the mid-term elections in eight days. Investors have regained some appetite for risk.

Downbeat guidance from Amazon and Apple was taken by investors as a sign that the Federal Reserve's aggressive interest rate hikes have worked and are now slowing the economy. This might be the signal the Fed needed to start easing its monetary policy. However, today's lower-than-expected inflation data and better-than-expected consumer spending data confused investors.

Tech giants are having a tough time on Wall Street. After the disappointments of Microsoft and Alphabet, it is Meta Platforms that is plunging due to weaker-than-expected results. These earnings reports are a bit of a setback to the rebound that investors are trying to build on premonitions of a future shift in monetary policy. Still, we feel that there is a push behind stocks.

Volatility continues on equity markets due to mixed corporate results. After a strong session yesterday, the Nasdaq 100 opened 2% lower after the disappointing results from Alphabet and Microsoft, which renewed fears of recession.

Today is heavy in terms of corporate results, and Wall Street opened flat due to mixed earnings, with Coca-Cola raising its sales and profit guidance, while 3M or Raytheon cut their forecasts.

Wall Street opened slightly higher, as traders remain cautious at the start of a crucial week that will include earnings reports from nearly a third of the S&P 500. Apple, Microsoft, Alphabet and Amazon are all on the agenda by Friday.

This is a bizarre in-between period, with investors fearing a recession, but still hoping that central banks will be able to save the day by curbing inflation.