Fiona Cincotta
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S&P 500 Forecast: SPX subdued at the end of a strong Q1
US stocks are almost unchanged, hovering around record highs as investors weigh up an upward revision to US Q4 GDP and hawkish comments from Fe Governor Christopher Waller. Waller warned that the Fed was in no rush to cut rates. US Q4 GDP was upwardly revised to 3.4% annualized. Today is the final trading day of the first quarter which has seen 10% gains.
Dow Jones Forecast: DJIA stocks drift higher amid a light calendar
US stocks are set to rise on the open, helped higher by rises in AI stocks and amid a quiet economic calendar. Attention will be on Federal Reserve Governor Christopher Waller, who is due to speak later. Otherwise, the main focus is Friday's core PCE data, which comes when the market is closed for the Good Friday holiday. Today oil prices are falling 1% after oil inventories rose sharply.
USD/JPY, FTSE Forecast: Two trades to watch
USD/JPY rises to a 34-year high & is on intervention watch. FTSE falls despite Chinese industrial profits rising.
Nasdaq Forecast: QQQ rises, boosted by chipmakers
US stocks are set to open higher, boosted by chipmakers, and as investors weigh up diverging Fed views over the scale of rate cuts this year. While Raphael Bostic sees just one rate cut this year, Austan Goolsbee sees three rate cuts in 2024, The spotlight will be on US core PCE data on Friday, which could provide more clues over the Fed's future path for rate cuts. Today, US durable goods orders rose more than expected.
EUR/USD, Oil Forecast: Two trades to watch
EUR/USD inches higher after German confidence improves modestly. Oil holds yesterday’s gains on supply concerns, API data is due.
S&P 500 Forecast: SPX falls ahead of US inflation data, Fed speakers
US stocks are set to drift lower on the open after record highs last week. Stocks rallied on expectations that the Fed will start to cut interest rates in June and will squeeze in 75 basis points of rate cuts this year. Attention is on core PCE inflation data on Friday and several Fed speakers across the week, which could give more clues on the future path for rate cuts.
USD/JPY, Oil Forecast: Two trades to watch
USD/JPY holds steady amid intervention threat. Oil rises as geopolitical tensions rise.
Gold Weekly Forecast: Gold eases from all time high, inflation data in focus
After spiking to an all-time high, gold prices have eased lower. Attention is on Friday's core PCE inflation data after a deluge of central bank decisions last week.
Dow Jones Forecast: DJIA rises to record high after the Fed boosts rate cut bets
US stocks are opening at fresh record highs, extending yesterday's rally after the Fed bolstered rate cut bets. The US Central Bank left rates on hold, upwardly revised the inflation outlook, and maintained its guidance for 3 rate cuts this year, surprising the market. The Fed doesn't appear to be concerned by two months of hotter-than-forecast inflation. Chip stocks are leading the rally and Reddit will start trading today on the NYSE.
Reddit to IPO at the top end of price range
Reddit will start trading today on the NYSE and has been priced at $34, the top end of its price guidance range.
Dow Jones Forecast: DJIA slips ahead of the Fed rate decision
US stocks are heading for a mixed start, with the Dow Jones falling modestly and the Nasdaq 100 inching higher ahead of the Federal Reserve's interest rate decision. Policymakers are expected to leave rates on hold. Instead, the focus will be on the projections and the tone. After two straight months of hotter-than-forecast inflation, Fed Chair Powell could adopt a more hawkish tone, pushing back rate cut bets. A more hawkish Fed could hurt demand for equities and boost the USD.