Our website has moved to a new address learnspread.io
If you have any questions, feel free to email us at: [email protected]

European Markets Close Higher as Traders Await This Week’s Fed Meeting

Trading News:

European Markets Close Higher as Traders Await This Week’s Fed Meeting

European markets closed provisionally higher Monday, recovering from the tough week which saw stocks fall.

The pan-European Stoxx 600 slipped 2.89% last week as investors weighed concerns about the health of the economy, hot inflation figures, and the U.S. Federal Reserve’s upcoming monetary policy meeting.

By Monday afternoon, major European markets showed signs of recovery. Germany’s DAX ended the day 0.7% higher, France’s CAC 40 ended flat, and Italy’s FTSE MIB closed 0.3% higher. Spain’s IBEX 35 also closed the day up 0.3%.

The U.K.’s FTSE 100 was closed Monday to mark the funeral of Queen Elizabeth II, which began at 11 a.m. London time.

It comes after sterling hit a 37-year low against the dollar last week, as a combination of dollar strength and recession concerns hit the British currency.

Data due Monday included construction output figures for the eurozone. Luis de Guindos, vice president of the European Central Bank, was also due to make a speech in Madrid at 10:00 a.m. London time.

Shares in Asia-Pacific fell on Monday, and U.S. stocks also opened lower.

The Fed’s two-day meeting is due to begin Tuesday, with markets expecting a 75-basis-point rate hike as the central bank strives to get soaring prices under control.

MON, SEP 19 2022 9:31 AM EDT

U.S. stocks open lower

U.S. stocks opened lower Monday as investors looked ahead to the Federal Reserve’s two-day meeting this week.

The Dow Jones Industrial Average was down 0.8% in early morning trade. The S&P 500 and the Nasdaq were both 0.9% lower.

MON, SEP 19 2022 7:07 AM EDT

Rheinmetall up 3.7%

On Monday, German arms manufacturer Rheinmetall rose 3.7% on the news that it had won an order for particular vehicles for the German armed forces.

The Bundeswehr has contracted with Rheinmetall to buy 48 fuel tank trucks for use at numerous German Army and Air Force airfields.

MON, SEP 19 2022 4:59 AM EDT

Porsche up almost 3%

Porsche shares rose almost 3% in early trade Monday after German carmaker Volkswagen said it was aiming for a valuation of up to 75 billion euros for the luxury brand when it is floated on the stock market.

Porsche was last seen trading up 2.5%, while Volkswagen was slightly above the flatline.

MON, SEP 19 2022 3:12 AM EDT

European markets open in the red

European markets opened well into the red Monday. Here’s where stocks were after 15 minutes of trading:

France’s CAC is down 0.94%

Germany’s DAX is down 0.58%

Italy’s FTSE MIB is down 0.92%

Spain’s IBEX is down 0.4%

MON, SEP 19 2022 3:03 AM EDT

Treasury yields tick higher

Treasury yields ticked higher early Monday.

The yield on the 2-year Treasury bond rose one basis point to trade at 3.8713% at 2:45 a.m. ET. It comes after the yield climbed above 3.9% last week — a level last seen in November 2007.

Meanwhile, the yield on the 10-year Treasury was less than a basis point higher at 3.4554%. Yields move opposite prices. One basis point is equivalent to 0.01%.

MON, SEP 19 2022 2:21 AM EDT

European stocks slid last week

The pan-European Stoxx 600 slipped 2.89% last week:

MON, SEP 19 2022 2:20 AM EDT

UK stock markets closed as the country marks Queen Elizabeth’s death

In a release last week, the London Stock Exchange Group said it was “deeply saddened at the passing of Her Majesty Queen Elizabeth II.”

“The day of the funeral of Her Majesty Queen Elizabeth II, 19 September 2022, has been declared a UK bank holiday. Therefore, London Stock Exchange (the “Exchange”) on Exchange markets will be closed,” it added.

Stock Market News Live Updates: Stocks Tumble on Heels of FedEx Earnings Warning

Trading News:

Stock Market News Live Updates: Stocks Tumble on Heels of FedEx Earnings Warning

Stocks sank on Friday, deepening a sell-off across U.S. equity markets, leading to a sizable weekly loss for all three major averages. The declines came as traders weighed an ominous warning from FedEx about the global economy.

The S&P 500 fell 0.7%, while the Dow Jones Industrial Average shed 140 points or 0.5%. The technology-heavy Nasdaq Composite declined 0.9%. The indexes clawed back from session lows of more than 1% but still logged their worst week since June.

FedEx (FDX) was in the spotlight Friday after the company withdrew its full-year guidance and delivered messaging around its earnings outlook, stating that macroeconomic trends have “significantly worsened.”

Shares of FedEx tanked 21.4%, the most significant daily decline ever since the company went public in 1978. Its most considerable loss before Friday was a 16% drop on Black Monday in 1987.

“Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S.,” FedEx CEO Raj Subramaniam said in an earnings statement. “We are swiftly addressing these headwinds, but given the speed at which conditions shifted, first quarter results are below our expectations.”

With the third-quarter reporting season on deck, several strategists have soured their earnings expectations and trimmed their forecasts.

According to data from FactSet Research, earnings growth expectations for the S&P 500 stand at an increase of 3.7% for the third quarter, down sharply from expectations of 9.8% growth at the end of June.

Analysts have cut Q3 earnings expectations over the last 2-3 months for every sector in the S&P 500 except energy. Seven of eleven sectors in the index are now expected to show outright year-over-year declines in earnings, compared to only three in the second quarter.

Morning on Wall St. as the Union Jack flies at half staff outside the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2022. REUTERS/Brendan McDermid

Morgan Stanley’s lead U.S. equity strategist Michael Wilson, a vocal stock market bear, has said that while the first half of the year was shaped by inflationary pressures and hawkish Federal Reserve policy, the remainder will be fueled by slowing growth and weakness in earnings.

“While acknowledging the poor performance in equities year-to-date, we do not think the bear market is over if our earnings forecasts are correct,” Wilson said in a recent note to clients.

On the economic data front, the University of Michigan’s consumer sentiment survey showed one-year inflation expectations fell to 4.6% in September, the lowest reading in a year, even as last week’s CPI print came in higher than expected.

The benchmark U.S. 10-year Treasury note held above 3.46% in the bond market, while the policy-sensitive 2-year Treasury spiked further, hitting 3.9%, the highest level since 2007.

Finance Market Wrap by Traders Master Academy

Learn Spread events:

Finance Market Wrap by Traders Master Academy

About the speaker:

Financial markets are increasingly volatile these days, and regardless of your interests in equities, currencies, gold, commodities, or even cryptocurrencies, there is bound to be a financial product or two that you may be interested in. This is the thing. While investors generally avoid volatility, traders love them because, without volatility, the market does not move much, and there is no trading opportunity.

We often find that the same news or unscheduled events that drive one market may have a similar or opposite influence on other markets. Thus, monitoring only one market is no longer enough since the markets are interconnected. We need to have a global view to understand where markets are heading. This is where the idea of sharing comes in.

Daniel Ang is an industry veteran with more than 30 years of trading financial markets. He started his career trading commodity futures in 1985 before switching to stock index futures in 1987 and is one of the few who caught the entire stock market crash in October 1987 when he sold short the Hang Seng Index futures.

He moved on to be a gold dealer before joining Standard Chartered Futures (Singapore) in 1992, where he continued actively trading US futures. It was also then he first traded foreign exchange – sometimes, he is still very much involved.

In 2018, he dabbled into cryptocurrencies and is currently with a hedge fund specialising in cryptocurrency trading.

He is an external speaker for the Chicago Mercantile Exchange (CME) and European Exchange (Eurex) for the Asia-Pacific region. Daniel is active in the speaking circuit. Each month, the exchanges tap him for seminars and regional webinars.

He came up with the idea of doing a weekly free-to-attend webinar. It is his way of giving back to society. As a family man, he firmly believes everyone must have another soft skill to survive the challenging years ahead. Not knowing is not an option.

The mentor has vast experience in the industry, and his webinars provide super helpful information based on his practical skills. We encourage our students to join his free performances as well!

SocietyX: Learn Stocks & Trading

Learn Spread events:

SocietyX: Learn Stocks & Trading

About the speaker:

Christian “Jefe” Simms MBA, raised in Harlem, New York City & Navy veteran, started his stock journey back in 2013 after honourably discharging from the military.

After dominating the corporate sales industry, Christian was diagnosed with stage 3 cancer back in 2016. Fortunately, he defeated the odds and was inspired to empower people to earn back their time from their employers to spend with their loved ones by becoming their boss.

In 2018 he created “JefeTalk,” a brand that motivates, empowers & teaches people how to become entrepreneurs through many fashions. The JefeTalk brand includes a syndicated podcast in over 28 countries, real estate org, youtube vlogs, a clothing line & the JefeTalk investor’s group. The JefeTalk Investor Group has over 75 who teach about the stock market and options.

At this meeting, we talked about such concepts as:

  • Foundation of stocks
  • How to find the best stocks to invest
  • Entry and exit
  • Technical analysis
  • Fundamentals
  • Market master
Our team enjoyed the event and the mentor.
We will happily follow Christian Simms’s progress and attend his other meetings!
Preloader
Our social media pages:

Thank you for your
time and effort.

Our affiliate manager will review your details and contact you if necessary.

Please fill out the form below for Learn Spread team to contact you: