Morning wrap (23.09.2022)

• US indices finished yesterday's session lower with S&P 500 dropping for the third day in a row. S&P 500 moved 0.84% lower, Dow Jones dropped 0.35% and Nasdaq finished 1.37% lower. Russell 2000 dropped 2.26%

• Indices from Asia-Pacific trade significantly lower today as moods deteriorated further after the close of the Wall Street session. S&P/ASX 200 dropped 2%, Kospi moved 1.8% lower and indices from China traded up to 0.9% lower

• DAX futures point to a more or less flat opening of the European cash session today

• US State Department said that negotiations with Iran "hit the wall" due to Iran's unreasonable position

• According to AFP, annexation referendums in occupied territories of Ukraine began today as planned

• Nomura lowered its forecast for 2023 Chinese GDP growth from 5.1 to 4.3%

• Flash Australian manufacturing PMI ticked higher from 53.8 to 53.9 in September. Services gauge moved from 50.2 to 50.4

• Gains can be spotted all across the cryptocurrency market. Bitcoin gains 1%, Ethereum trades almost 3% higher while Ripple rallies over 12%

• Oil is trading lower with Brent dropping back below $90 per barrel

• Precious metals trade little changed today - gold and silver trade flat while platinum gains 0.1%

• JPY and USD are the best performing major currencies while AUD and NZD lag the most

S&P 500 (US500) continues to slide and has reached a fresh 2-month low amid a continued increase in yields. Index is testing a mid-term support zone in the 3,750 pts area. Source: xStation5