U.S. stocks failed to gain for the second straight session on Tuesday, with the three major indexes collectively closing down and the Dow falling more than 550 points in intraday trading. Ford closed down 12.39%, its biggest single-day drop since January 2011
US Markets extended its sell-off, closing 1% lower ahead of the highly anticipated FOMC Meeting
EU Markets closed in the red while German producer prices jumped 45.8% YoY in August due to rising energy prices
Asia Markets were broadly higher, with the People’s Bank of China keeping one and five-year loan prime rate unchanged
Gold extended its losses trading below $1,665/oz as the dollar and treasury yields rose ahead of the Fed’s meeting
WTI Crude Oil lost momentum, as the dollar regained strength on expectations of increased rate hikes
Ford plunged 12% after it announced that 3Q costs were $1 billion more than expected due to supply chain issues and inflation
Cognex climbed 6.45% after the company lifted its revenue outlook due to a faster-than-expected recovery
Nike slipped 4.5% after Barclays downgraded the stock from Overweight to equal weight due to ongoing volatility in China
- General Mills (GIS.US)
Economic Calendar (22 September 2022)
- US Fed Interest Rate Decision
- Bank of Japan Interest Rate Decision
- Bank of England Interest Rate Decision
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.