CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Tesla slumps after earnings, Wall Street recovers from early losses

18:56 20 April 2023
  • US indices are trading slightly lower today with major Wall Street benchmarks being down 0.1-0.2% at press time. Declines were much deeper at the beginning of the session but bulls managed to recover most of the drop

  • European stock market indices finished today's trading mostly lower. However, UK FTSE 100 and Dutch AEX managed to close a touch higher

  • AUD and CHF are the best performing major currencies while NZD and CAD lag the most

  • Precious metals trade higher with gold adding 0.6%, silver advancing 0.1% and platinum adding 0.3%. Palladium is a laggard with an over-1% drop

  • Energy commodities are pulling back with oil prices almost closing a bullish price gap triggered by unexpected OPEC+ output cut announcement at the beginning of April

  • Cryptocurrencies are pulling back today - Bitcoin drops 2.5%, Ethereum trades 1.9% lower and Dogecoin slumps 5%

  • ECB minutes showed that majority of European central bankers favored a 50 basis point rate hike at the latest meeting

  • Fed Mester said the US central bank is getting closer to the end of its rate hike cycle. Mester expects rates to be raise above 5% and be held there for some time

  • Fed Williams said that he still expects US economy to achieve positive rate of GDP growth this year

  • Media report that US President Biden may present new investment curbs on China ahead of G7 summit in May

  • Japanese exports increased 4.3% YoY in March (exp. 2.6% YoY) while imports were 7.3% YoY higher (exp. 11.4% YoY)

  • People's Bank of China left 1- and 5-year lending rates unchanged at 3.65% and 4.60%, respectively

  • German PPI inflation decelerated from 15.6 to 7.5% YoY in March (exp. 9.9% YoY)

  • US Philly Fed index for April dropped from -23.2 to -31.3 (exp. -19.2)

  • US initial jobless claims jumped to 245k (exp. 240k)

  • US existing home sales dropped 2.4% in March, to 4.44 million (exp. 4.50 million)

  • EIA report showed a 75 bcf build in US natural gas inventories (exp. +69 bcf). This was the second inventory build in a row

  • Tesla shares traded around 10% lower today after company reported an over-20% YoY drop in profit in Q1 2023 and deterioration in margins

Dow Jones (US30) erased most of the daily drop and is now attempting to break back above 34,000 pts mark. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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