Wall Street ends higher, gains driven by banks, healthcare
2022-09-09 18:46uSMART

Wall Street's main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month

 

MACRO 

US Markets snapped its losing streak to conclude higher, as treasury yields, and oil prices cooled

EU Markets concluded mixed, with the FTSE lagging as the pound fell to its lowest level against the dollar since 1985   

Asia Markets finished lower with China’s exports missing expectations to grow at 7.1% YoY in August

Federal Reserve Beige Book revealed that economic activity was unchanged in the past six weeks, while growth outlook remains weak

 

SECTORS

Gold rebounded Wednesday, trading at $1,716/oz at time of writing as the dollar pulled back

WTI Crude Oil continued its fall to touch a seven-month low on recession fears and softening demand from China

 

COMPANY

Netflix rose 4.8% on reports that the company is seeking to reduce expenditure due to slowing subscriber growth

UiPath plunged 11% despite beating earnings and revenue expectations on the back of a weak revenue guidance  

Coupa Software jumped nearly 18% after surpassing earnings expectations while providing an upbeat guidance

 

EVENTS

Today’s Earnings:

  • Bilibili (BILI)
  • DocuSign(DOCU) 
  • RH(RH)
  • Lovesac(LOVE)

 

Economic Calendar (08 September 2022)

  • China Inflation Rate YoY (August)
  • US Consumer Credit Change (July)

 

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