Major Wall Street indices fell sharply during the final session of the week, unlike their European counterparts which ended trade in green. It seems that uncertainty related to the next moves of the Fed negatively affects the market sentiment. It is worth remembering that on Wednesday, the FOMC will provide its decision regarding interest rates. Investors expect not only a 50 basis point rate hike but also a decision to begin balance sheet reduction. Moreover, negative sentiment was lifted today by the hot inflation report and Amazon (AMZN.US), whose shares tumbled more than 13.5% after releasing weak financial results and revenue forecasts.
US100 pulled back sharply after a failed attempt of breaking above local resistance around 13435 pts which is marked with the upper limit of the local 1:1 structure. If current sentiment prevails, downward move may be extended to support zone between 12880 pts-13000 pts. Source: xStation5
Daily Summary: CPI down, Markets Up
3 markets to watch next week (24.10.2024)
US OPEN: Macroeconomic data sends markets to new heights
BREAKING: US PMI above expectations! 📈🔥EURUSD declines!
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.
