- Wall Street futures in the red after the worst day in years.
- Fears continue to dominate the scene and the demand for safe-haven assets is intensifying.
- The dollar loses strength due to the fall in Treasury bond yields.
The futures of the main US stock indices do not anticipate a rebound, but instead operate in the negative, extending the current collapse. The dollar loses strength due to the rise in Treasury bonds.
Wall Street without rebound: The crash continues
Markets throughout the world are falling. Thursday getting in tune with what was Wednesday’s crash on Wall Street. In percentage terms, the Dow Jones and the S&P 500, which lost 3.57% and 4.04%, had their worst day in almost two years. Walmart, amazon Y Tesla they lost almost 7%, Apple 5.5%.
In Europe, the FTSE 100 falls 2.30%, the CAC 40 1.97% and the DAX 1.80%. S&P 500 futures were down 1.15% and Nasdaq futures down 1.20%. Without a rebound for the moment and with the continuation of the falls, the fear indicators (VIX) continue to shoot up, predicting a continuation of the high volatility.
From the maximum of January 4, the S&P 500 has lost 19.40%. It is on track for its seventh consecutive weekly decline, the worst streak since 2001.
Investor fears continue to trigger demand for safe-haven assets. Government bonds rise, and the yen and Swiss franc benefit. Concerns about the economic outlook are being the main factor, to which is added inflation, the continuation of the conflict in Ukraine, the ongoing monetary tightening and corporate results these days.
Tuesday had been Walmart, Wednesday was target which presented results worse than expected, contributing to the deterioration of expectations about the economy. On Thursday it will be the turn to know the results of Kohl, Applied Materials and Ross Stores, among others.
The crash on Wall Street is leading to a sharp drop in bond yields across the world. The German 10-year bond is in the 1% zone. While that of the US went from 3.0% to 2.82% in one day. This is weighing on the dollar on Thursday. DXY falls 0.50% and trades at 103.35, near the weekly low. Gold is favored and rises testing $1830. Among the currencies, the Swiss franc and the yen are the best performers.
The Petroleum It falls again on fears of a global recession, coupled with reports that China could buy Russian oil. The barrel of WTI falls almost 2% and hit a six-day low. Cryptocurrencies remain above recent lows, confirming significant declines. BTC/USD is still below $30,000.
For the next few hours, the focus in question will continue on the markets health. Further declines or a strong rebound have the potential to completely nullify upcoming economic data. The economic calendar shows ahead of US data on jobless claims, the Philly Fed, existing home sales and consumer confidence (Conference Board). Neel Kashkari, the president of the Minneapolis Fed will speak in the second half of the American session.
Technical levels
SP500
Panorama | |
---|---|
Last Price Today | 4071.62 |
Today’s Daily Change | -17.40 |
Today’s Daily Change % | -0.43 |
Today’s Daily Opening | 4089.02 |
Trends | |
---|---|
20 Daily SMA | 4153.14 |
50 Daily SMA | 4325.61 |
100 Daily SMA | 4410.08 |
200 Daily SMA | 4477.68 |
levels | |
---|---|
Previous Daily High | 4089.37 |
Previous Daily Minimum | 4021.53 |
Previous Maximum Weekly | 4095.91 |
Previous Weekly Minimum | 3858.25 |
Monthly Prior Maximum | 4592.12 |
Previous Monthly Minimum | 4122.09 |
Daily Fibonacci 38.2% | 4063.46 |
Daily Fibonacci 61.8% | 4047.44 |
Daily Pivot Point S1 | 4043.91 |
Daily Pivot Point S2 | 3998.8 |
Daily Pivot Point S3 | 3976.07 |
Daily Pivot Point R1 | 4111.75 |
Daily Pivot Point R2 | 4134.48 |
Daily Pivot Point R3 | 4179.59 |
Source: Fx Street
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