Only two highlights today, but enough to shake the market.Updated time: 24 Jan, 2022, 14:24 (UTC+04:00)
Only two highlights today, but enough to shake the market.
- Congratulations on Fed’s chair Jerome Powell reappointed for a second 4-year term, and Lael Brainard as the vice chair! Managing inflation and interest rates have been the core of the Fed’s concerns amid the reopening of the economy from the pandemic. Hence it is such a sign of relief for all investors, including us, that we can expect a more promising trading future in 2022 under the steady leadership of this union.
- OPEC+ is pressured to pump more oil and cool red-hot crude prices but has resisted due to fears of running out spare capacity. More concerns are raised as releasing oil reserves should be used to cope with shocks from disasters and not to correct prices, not to mention ESG calls with banks charging more on loans for oil. The only possible solution easing price pressures now lies in the U.S oil shale industry.
Other news below:
#SP500 dropped 0.32%, #Nasdaq fell 1.26% and #DowJones rose slightly 17 points.
#Treasury yields jumped, with United States 10-Year rising above 1.6%
#Tech stocks underperformed, excluding #Apple.
#Tesla increased 1% after Elon Musks tweeted the earlier-than-expected launch of Model S Plaid electric sedan. #GeneralMotors was up more than 2%.
#Zoom shares were down about 6% on Monday, after third-quarter revenue growth rate slowed to 35% as demands eased.