U.S. stocks rally continues, markets await Tuesday's CPI data
09-13 12:00uSMART

U.S. tocks closed higher on Monday, continuing last week’s gains. The three major indexes rose for four consecutive days to hit a two-week high. The S&P and Nasdaq both rose by more than 1%, and the S&P recorded its largest four-day winning streak since June

 

MACRO

US Markets rose for a fourth consecutive session on rising confidence that high prices may have peaked

EU Markets touched a 2-week high, with banks leading the way, on expectations of more rate hikes  

Asia Markets kicked off the week strong, with Japanese travel stocks leading gains on border easing reports

 

SECTORS

Gold rose more than 1%, trading above $1,720/oz at time of writing on the back of a softer dollar    

WTI Crude Oil edged higher, as supply is expected to tighten further this coming December

 

COMPANY

Twitter retreated almost 2% after a regulatory filing saw it pronouncing Elon Musk’s attempt to back out of the deal invalid

Carvana climbed 7.8% after being upgraded by Piper Sandler from Neutral to Overweight

Gilead Sciences rose more than 4% having revealed the settlement of a patent case regarding its HIV therapies  

Alphatec soared 10% following Morgan Stanley’s move to initiate coverage of the company with an overweight rating

 

EVENTS 

Today’s Earnings:

  • Core & Main (CNM.US)

 

Economic Calendar (14 September 2022)

  • UK Inflation Rate YoY (August)
  • US PPI MoM (August)

 

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