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Wall Street Today (S&P 500) (Nasdaq): Risk Aversion Trading May Fade, But Limited Catalysts Exist Until Next Week

This is what you need to know to trade today Wednesday December 7:

Stock markets gave up more ground on Tuesday as investors continued to prepare for a Fed rate hike. While next week’s 50 basis point hike is a given, the dot chart is not. and traders are starting to worry that maybe the Fed was telling the truth after all and rates are going to go higher for longer. Therefore, the Petroleum suffered a sharp fall on Tuesday, weighing on energy stocks, while tech stocks were also hit by rate hike forecasts. We don’t have much of a catalyst this week, so the move lower could consolidate now with some bearish momentum in the next few hours. In reality, strong moves are unlikely at this juncture.

The US dollar held much of its gains, and the DXY stands at 105.50. The Prayed It is flat at $1770, while oil is stable at $74, having so far failed to break support just above $73. Bitcoin is trading at $16,700.

The markets europeans are bearish: Eurostoxx, DAX and FTSE fall around 0.4%.

The US futures They are also down: Nasdaq is the worst with -0.6%, while the Dow and S&P 500 are down 0.3%.

Featured Wall Street (SPX) News (QQQ)

BOC rate decision at 15:00 GMT.

Reuters headlines

Microsoft (MSFT) has made a 10-year commitment to bring the games title “Call of Duty” to Nintendo platforms, Microsoft Gaming CEO Phil Spencer said in a post on Twitter.

Tesla (TSLA) offers an additional discount to Chinese buyers on some models.

Barclays (BCS): The company said it had appointed Alistair Currie as chief operating officer.

BlackRock Inc (BLK): Tiny activist investor Bluebell Capital Partners takes aim at BlackRock and wants to replace veteran CEO Larry Fink, criticizing the world’s biggest asset manager for its inconsistent focus on environmental, social and corporate governance (ESG) issues.

Boeing Co (BA) Y Lockheed Martin Corp (LMT): US lawmakers refused to add an extension to an annual defense bill at the last minute that would impose a new safety standard for modern cabin alerts for two new versions of Boeing’s best-selling 737 MAX jets.

Chevron Corp (CVX): The company said Tuesday that its El Segundo refinery, located in California and which generates 269,000 barrels per day, experienced a mechanical problem in one of its operating units, and said it was working to fix the problem as soon as possible.

GSK PLC & Sanofi SA (SNY): Shares of GSK and Sanofi rose in early trading after the dismissal of thousands of US lawsuits alleging the heartburn drug Zantac caused cancer.

Mosaic Co (MOS): The fertilizer producer said Tuesday it has temporarily cut potash production at its Colonsay, Saskatchewan, mine in Canada, citing slower-than-expected demand.

Pinterest Inc (PINS): The company said Tuesday it has reached an agreement with Elliott Management, the activist investment firm that has offered ideas on how to improve operations at the social media and image-sharing services company.

Southwest Airlines Co (LUV): The company reinstated its quarterly dividend program more than two years after suspending it in the wake of the coronavirus pandemic.

Taiwan Semiconductor Manufacturing Co Ltd (TSM): Taiwanese chipmaker TSMC said on Tuesday it would more than triple its planned investment in its new Arizona plant to $40 billion.

Uber Technologies (UBER): American passenger transport company Uber and driverless technology maker Motional have launched their public robotaxi service in Las Vegas.

Ups and downs

We should change the name to upgrades and downgrades.

Source: Fx Street

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