All three major U.S. stock indexes closed higher, U.S. inflation is fragile and stable, the Fed may raise interest rates until 2023
09-13 14:59uSMART

Over the past week, the three major U.S. stock indexes collectively closed higher, ending a three-week losing streak. Among them, the Dow Jones Industrial Average rose 2.66% to 32,151.71 points; the S&P 500 rose 3.65% to 4,067.36 points; the Nasdaq Composite rose 4.14% to 12,112.31 points

 

MACRO

US Markets extended its gains, to snap a 3-week losing streak following a Federal Reserve-induced slide

EU Markets closed firmly in the green following the European Central Bank’s decision to implement a record rate hike

Asia Markets were higher across the board, with China’s consumer inflation coming in slightly below expectations at 2.5%

 

SECTORS

Gold edged higher, trading above $1,715/oz at time of writing, as the rally in the dollar came to a pause   

WTI Crude Oil rose more than 3%, on fears of potential cuts to supply and softer demand stemming from pandemic-induced restrictions

 

COMPANY

National Beverage tumbled 7.4% having reported a set of underwhelming quarterly results that fell short of expectations

DocuSign soared more than 10% after earnings surpassed expectations while releasing an upbeat outlook

Kroger jumped nearly 7.4% after the supermarket chain beat earnings expectations and lifted its full-year guidance  

RH climbed 4.5% following a stronger-than-expected earnings report despite forecasting a softer 3Q revenue  

 

EVENTS  

Today’s Earnings:

  • Oracle (ORCL)

 

Economic Calendar (13 September 2022)

  • Australia Westpac Consumer Confidence Index (Sept)
  • United Kingdom Unemployment Rate (July)
  • US Inflation Rate YoY (August)

 

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