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Foreign exchange news -- the rebound of Nasdaq 100 index led Wall Street. Whether the bulls can be saved depends on tonight's CPI!
发布时间：2022-08-25 浏览：120
• the Nasdaq 100 index rebounded 1.3%, leading Wall Street stocks higher
• the SP500 index closed up 0.3% and the Dow Jones index fell 0.26%
• pay close attention to US inflation data on Wednesday
The rebound of Nasdaq 100 led Wall Street
After a sharp decline at the beginning of this week, U.S. stocks stabilized and gained a firm foothold on Tuesday, and rebounded slightly before the release of key U.S. economic data on Wednesday. By the close of trading on Tuesday,
The SP500 index rose 0.25% to 4001 points. In a highly volatile trading day, the index fluctuated in the positive and negative range for many times.
The Nasdaq 100 index rose 1.30% to 12345 points. After a huge decline in the past five weeks, the exit bulls reappeared, boosting this leading technology stock. The Dow Jones index fell 0.26% to 32160, its lowest closing level since March 2021.
Although the selling activity has slowed down, market sentiment is still fragile, and risk appetite is almost nonexistent, as the market is worried that the U.S. economy is about to fall into trouble.
Investors are losing confidence in the ability of the Federal Reserve to achieve a soft landing and are betting that the interest rate hike environment required to curb inflation will also suppress economic activity, leading to a recession in the near future. Whether justified or not, these concerns are exacerbating traders' pessimism and causing them to sell frequently at high prices.
Whether American stock bulls can be redeemed depends on tonight's CPI!
This week, financial markets are waiting for the U.S. April inflation report to be released tonight. No matter how the data perform, these data may set the tone for U.S. stocks in the next few days.
According to Bloomberg survey, the overall CPI in April is expected to increase by 8.1% year-on-year, down from 8.5% last month, and the annual rate of core CPI is also expected to fall back to 6.1% from the previous value of 6.5%.
The rebound of Nasdaq 100 led Wall Street
After a sharp decline at the beginning of this week, U.S. stocks stabilized and gained a firm foothold on Tuesday, and rebounded slightly before the release of key U.S. economic data on Wednesday. As of the close on Tuesday, the SP500 index rose 0.25% to 4001 points. In a highly volatile trading day, the index fluctuated in the positive and negative ranges for many times.
The Nasdaq 100 index rose 1.30% to 12345 points. After a huge decline in the past five weeks, the exit bulls reappeared, boosting this leading technology stock. The Dow Jones index fell 0.26% to 32160, its lowest closing level since March 2021.
Although the selling activity has slowed down, market sentiment is still fragile, and risk appetite is almost nonexistent, as the market is worried that the U.S. economy is about to fall into trouble.
Investors are losing confidence in the ability of the Federal Reserve to achieve a soft landing and are betting that the interest rate hike environment required to curb inflation will also suppress economic activity, leading to a recession in the near future. Whether justified or not, these concerns are exacerbating traders' pessimism and causing them to sell frequently at high prices.
Whether American stock bulls can be redeemed depends on tonight's CPI!
This week, financial markets are waiting for the U.S. April inflation report to be released tonight. No matter how the data perform, these data may set the tone for U.S. stocks in the next few days.
According to Bloomberg survey, the overall CPI in April is expected to increase by 8.1% year-on-year, down from 8.5% last month, and the annual rate of core CPI is also expected to fall back to 6.1% from the previous value of 6.5%.
The Nasdaq 100 index fell sharply on Monday, once falling below the short-term key support level 12210, but this downward breakthrough failed to last. On Tuesday, the index rebounded moderately and returned to the top of the support level.
Although this rebound is welcomed by the market, it does not change the fact that the overall outlook is still pessimistic. The Nasdaq 100 index is in a severe bear market.
The next catalyst to drive the stock market is April CPI. If the Nasdaq 100 index declines decisively after the data is released, 12210 may continue to fall in the next few days, and the session will challenge 11600, then 11000.
On the contrary, if the data shows that inflation concerns are slowing down, it may continue to rise after Tuesday's rebound. The initial resistance level is focused on 12645, and the upper target looks at 13000.