On Monday, the U.S. stock indexes opened lower and moved higher, closing up collectively. At the close, the Dow rose 197.26 points, or 0.64%, to 31019.68 points; The index rose 86.62 points, or 0.76%, to 11535.02 points. The S&P 500 rose 26.56 points, or 0.69%, to 3899.89

MACRO

US Markets snapped its losing streak, to conclude higher ahead of the Fed’s two-day policy meeting

EU Markets closed mixed even as construction output grew for the first time in five-months in July  

Asia Markets were lower across the board, while the PBOC slashed its 14-day reverse report rates

US 10-year Treasury Yields climbed to 3.5% - its highest levels since 2011 on expectations that interest rates will remain elevated

SECTORS

Gold prices softened, trading just below $1,675/oz at time of writing on increased rate hike expectations

WTI Crude Oil rose marginally, on rising optimism as restrictions eased in the Chinese city of Chengdu

COMPANY

AutoZone(AZO.US) tumbled more than 3% following mixed quarterly earnings where margins came in below expectations  

Wix(WIX.US) jumped 15.7% higher after Starboard Value declared its 9% ownership in the company

NCR(NCR.US) was down 3% at one point after being downgraded by Morgan Stanley from overweight to equal-weight

EVENTS 

Today’s Earnings:

• Neogen (NEOG.US)

Economic Calendar (21 September 2022)

• US Existing Home Sales (August)

Disclaimer:

The information contained in this article has been obtained from public sources which the writer has no reason to believe are unreliable and any analysis, forecast, projections, expectations and opinion (collectively “Research”) contained in this article are based on such information and are expressions of belief only. The writer has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this presentation is subject to change, and the writer shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will the writer be liable for any loss, including any special, indirect, incidental or consequential damages, which may be incurred from the use of the information or Research made available.

This article is intended for general circulation and educational purposes only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. Past performance figures as well as any projection or forecast used in this article, are not necessarily indicative of future performance of any investment products. You should seek advice from a financial adviser regarding the suitability of the investment products mentioned. In the event you choose not to seek advice from a financial adviser, you should consider whether the investment product in question is suitable for you. Views and any strategies described in this article may not be suitable for all investors. Any reference to or discussion of investment products in this article is purely for illustrative purposes only and must not be construed as a recommendation, an offer or solicitation for the subscription, purchase or sale of the investment products mentioned.