Wednesday's session on Wall Street began with moderate gains in stock indices. As for the macro calendar, investors' attention was focused on inflation readings in Europe and ADP in the US. Yields on 10-year notes are currently up 1.37%.
Data:
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Create account Try a demo Download mobile app Download mobile appADP comes out at only 132,000 against expectations of 300,000.
However, there is no point in reporting the previous figure, since the report was published the previous time in June. ADP is back with a new counting methodology that is supposed to better reflect reality. The question, however, is whether the NFP report reflects reality? It is worth remembering that both surveys are surveys. NFP report on Friday!
The market is currently pricing in a 74% chance of a 75 basis point rate hike at the Fed's September meeting. Source: Bloomberg
US index quotes. Source: xStation 5
Compiled charts of the US100 and VIX index on the D1 interval. The benchmark of technology companies starts today's session higher. The VIX fear index is losing nearly 1.3% today. Source: xStation 5
News:
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The mood around Bed Bath & Beyond (BBBY.US) deteriorated before the opening of today's session due to a series of news related to a strategic update. More information with details can be found here. The company's shares are currently losing more than 30%.
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Snap (SNAP) shares are erasing early losses and are currently gaining more than 13% after announcing a major restructuring program and laying off 20% of its workforce. The company said it would not give earnings forecasts for the next quarter and would abandon several projects.
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A huge sell-off in the oil market is dragging down major oil representatives in the US. Exxon Mobil (XOM.US) shares are losing more than 2.5%, and Chevron (CVX.US) shares are down 2.73%.
News from US companies. Source: Bloomberg
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