The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
EUR/GBP: bears eye 16-month-old support
2021-02-17 • Updated
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below the 38.2% retracement area. The bearish pressure is growing.
EU Market View
Asia-Pac equity markets traded mostly lower after the lackluster handover from Wall Street. WTI crude futures hovered around the USD 60/bbl level. The winter storm stateside is said to have hit US oil output by as much as a third. Overnight on Wall Street, the Dow Jones was helped to a record closing high by gains from banks, which benefit from higher yields.
US Treasury yields hit one-year highs on Wednesday, lending support to the dollar but pressuring lofty valuations for stocks, as investors reckoned that a stimulus-fuelled global recovery will eventually bring rising inflation. The gap over two-year yields also opened to its highest level in nearly three years, as traders figure that short-term monetary policy will stay supportive, even as the world bounces back from the pandemic.
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Looking ahead, highlights from the macroeconomic calendar include UK CPI, Retail Sales, Industrial Production, Canadian CPI, FOMC Minutes, Fed's Rosengren, Kaplan, BoE's Ramsden speeches.
EU Key Point
- Germany reports 7 556 new coronavirus cases, 560 deaths in the latest update today.
- US President Biden to meet with labor union leaders on investment in infrastructure.
- US President Biden on 1.9tln relief package supports ‘’now is the time to go big’’.
- EUR/USD risks a move to 1.2045.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
As expected, the Federal Reserve hiked the key US interest rate by 25 basis points for the second straight time during its two-day meeting ending March 22. The unanimous decision of the FOMC came amid major central banks' commitment to fighting inflation while maintaining economic...