Breaking

Stocks Wobbled Ahead of Inflation

Views: 823
1 0

STATE OF THE MARKETS

Stocks wobbled ahead of inflation. US stocks closed lower on Tuesday as short term traders took profits ahead of the very much awaited inflation data. The small cap Russell (-1.46%) fell the most, followed by Nasdaq (-1.19%), Dow (-0.18%) and S&P (-0.42%) as investors sold bonds, sending yields higher, with the 10Y benchmark nearing 2.80%. As at writing, Dollar index has broken down the 106 handle as speculators may have seen a peak inflation.

In the commodity markets, crude was under pressure as recession fears put a cap on the commodity. The black gold settled unchanged around $89.80/bl as New York closed. Gold continues to push higher and break the $1800/oz handle as inflation fears remain in the mind of investors. Elsewhere, global growth concerns continue to press iron ore lower to $109.80/tn.

In the FX space, overall sentiments seemed mixed as safe haven swiss return to demand across the board alongside Aussie and Kiwi. Demand for King Dollar was seen synchronized in the offer zones at the border of demand.

On Wednesday, markets expect another volatile trading while looking for earnings reports from Walt Disney (DIS), Fox Corp (FOXA), Manulife Financial (MFC), Coupang (CPNG), Franco Nevada (FNV), Nio Inc (NIO), Avnet (AVT) and Nomad Foods (NOMD) as well as the latest numbers on US mortgage application and the very much awaited inflation data. EIA petroleum status will be in the spotlight for energy traders.

 


G8 CURRENCIES SENTIMENTS

ST CHF NZD EUR GBP USD JPY AUD CAD ST
MT NZD CHF AUD EUR USD CAD GBP JPY MT
LT AUD CHF NZD JPY USD CAD GBP EUR LT
** ST refers to Short-Term daily turnover, MT is Medium Term weekly 
and LT refers to Long-Term monthly turnover.


WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
HLBZ 1.44 – 10.56 157,230.6K 4,136.1K
SQQQ 39.02 + 3.36 110,329.2K 117,340.4K
TQQQ 33.73 – 3.44 108,840.4K 162,413.2K
AMD 95.54 – 4.53 89,428.0K 102,124.7K
BBBY 9.79 – 14.20 74,137.5K 9,730.0K
F 15.19 – 3.74 67,546.9K 63,510.8K
NVDA 170.86 – 3.97 66,734.8K 55,847.8K
SOXL 17.69 – 13.88 65,010.1K 60,928.4K
AAPL 164.92 + 0.03 63,085.4K 87,430.1K
AMC 22.45 – 6.30 62,010.9K 43,718.8K
** % Change here refers to price vs previous day price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 850.00 28,694.5K – 4.70 24,390.3M
NVDA 170.86 66,734.8K + 23.80 11,402.3M
AAPL 164.92 63,085.4K – 10.07 10,404.0M
AMD 95.54 89,428.0K – 0.06 8,544.0M
MSFT 282.30 23,384.1K – 9.06 6,601.3M
AMZN 137.83 40,394.9K – 39.46 5,567.6M
META 168.53 18,638.3K – 39.57 3,141.1M
GOOGL 116.63 19,056.3K – 44.82 2,222.5M
MU 59.15 33,085.3K + 117.46 1,957.0M
GOOG 117.50 15,411.0K – 44.91 1,810.8M
** % change here refers to volume vs. 20 days average volume.


TOP 5 BLOCK ORDERS

TICKER PRICE TYPE VOL/OI FUNDS FLOW
NKLA 6.96 stock/options 148.29 92.3M
CCJ 25.10 stock/options 93.88 92.0M
ZM 105.29 stocks/options 73.37 613.1M
NQ 13,038.00 NASDAQ futures 4,660 60.9M
YM 32,748.00 DOW futures 1,146 37.6M


OUR PICK – GBP/JPY

Long term sentiments remain bearish. As the political situation in the UK remains uncertain until early September as the new Prime Minister is being appointed, we expect any upside in Sterling is going to be short lived. Any positive economic data however, may push Sterling higher to the upper bound of the down trend line circa 164.80/165.00 where we may re-enter our short.

 

HORIZON STRATEGY SL TP1 TP2
Short-Term Flat
Medium-Term Sell 164.20 161.15 159.80
Long-Term Sell 164.20 159.80 158.50

 

Disclaimer:

This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.