Stocks

The US Dollar was very strong in October as rising odds of a Trump win started to get priced-in to markets, but can equities avoid a pullback if longer-term US rates continue to fly-higher?

S&P 500 futures pulled back again last week and as yields have continued their run-higher, there’s more potential for greater pullbacks ahead. Both the election and FOMC can bring impact on both fronts.

As we head deeper into a pivotal week and a half, several high-impact events could shape market direction. Investors are bracing for a series of earnings reports from major companies, often referred to as the "Magnificent 7" stocks, alongside the US monthly jobs report. These, combined with the US election on November 5, represent a series of risk events that could sway investor sentiment and thus impact the Dow.

As we head into a pivotal week and a half, several high-impact events could shape market direction. Investors are bracing for a series of earnings reports from major companies, often referred to as the "Magnificent 7" stocks, alongside the US monthly jobs report. These, combined with the US election on November 5, represent a series of risk events that could sway investor sentiment and thus impact the Dow forecast.

The S&P 500 has shown resilience, with US stocks rebounding on the back of strong earnings reports today. Positive surprises from major companies, such as Tesla, and strong performances in Europe are helping to stabilise sentiment.

Following the big tech-fuelled rally on Wall Street, the major US indices fell back, with the Nasdaq 100 being down about 2.5% at the time of writing. We had a number of weaker-than-expected US economic reports, in particular the ISM services PMI, while mixed technology earnings results and a more hawkish Federal Reserve and Bank of England policy decisions (and not forgetting the Bank of Japan), all weighed on risk appetite.

S&P 500 and Nasdaq Futures have shown their strongest single-day rallies since November of 2022, a stark contrast to the panic that had begun to show last week with larger fears around A.I. stocks.

Today's gains were largely driven Nvidia’s 11% surge, as beaten-down chipmakers rallied. Meanwhile, softer economic data further boosted bets that the Fed will signal a rate cut in September, with the potential for two more cuts being priced in before the year is out. The Nasdaq 100 forecast remains bullish from a technical point of view with the index holding above a key bullish trend line.

The Nasdaq has led the way higher with another fresh ATH today, and NVDA earnings on Wednesday can provide a major push point to equity themes.

S&P 500 analysis: Investors interpret Fed as slightly less hawkish than expected, but macro concerns remain. Attention turns to Apple, expected yo report a 10% decline in iPhone sales, before Friday's release of NFP and ISM services PMI.

Earnings have helped to lift the mood so far in today's session, but risk appetite could be limited amid ongoing geopolitical risks and uncertainty over interest rates outlook. DAX technical analysis shows the German index is still residing in a bearish channel, despite the bounce.

After a five-month rally U.S. stocks pulled back to start Q2 trade but the question remains as to whether this was a pullback from overbought conditions or whether we’re seeing the start of a fresh trend.

Especially for those traders who like to dabble in markets exposed to currency or interest rate risk.

Find out everything we know about the Reddit IPO including the date, valuation and how to trade Reddit stock.

Inflation remains high in the U.S. economy, but equity bulls seem undeterred, helped along by a continued dovish stance from Fed officials despite fears of inflation entrenchment.

Investors consider key risks facing stocks, with Core PCE inflation coming up, ahead of FOMC and NFP next week. European stocks surge on LVMH earnings beat. Meanwhile, Nasdaq 100 technical analysis shows some warnings signs for bulls.

Fanatics is reportedly projecting about $8 billion in revenue in 2023, excluding trading card rights, ahead of a potential IPO.