Market News – Dollar corrects ahead of the PCE
Economic Indicators & Central Banks:
- The first US presidential debate, as expected, did not significantly impact the markets, and it likely did little to ease concerns regarding the country’s political and economic future. Following the debate, market odds for a Trump win have slightly increased, potentially indicating higher inflation risks.
NVIDIA Boosts NASDAQ Again, But Are Signals Suggesting a Change?
- UK inflation declines to the Bank of England’s target of 2.00%.
- The British Pound increases at first but the day’s best performing currency so far is the Australian Dollar.
- US Retail Sales decline and read lower than market expectations, applying pressure on the Dollar.
- The NASDAQ is increasing in value
Market News – Stocks drop with bonds
Economic Indicators & Central Banks:
- The NASDAQ was the star as the markets, of it rallied 0.59% to close at 17,019.88 for a fresh record high. And it is its first time over the 17,000 level. A 7% pop from Nvidia supported.
- Fed Kashkari said he wants to see “many
Market News – Erosion in Fed rate cut odds; Stocks, Oil & Gold under pressure
Economic Indicators & Central Banks:
Nvidia bigger than entire stock market – Market cap now greater than Australia, South Korea and Russia.
- After the massive Nvidia beat, rallying over 9% on the day, failed to reinvigorate the rally at the close. It was unable to support the major
Market News – May 14
Economic Indicators & Central Banks:
- Asian stocks and European futures kept to small ranges as focus turned to upcoming US inflation reports.
- JGB yields surged to their highest levels in over a decade amid growing speculation that the BOJ might raise interest rates soon.
- Former central bank executive Momma stated