It has been the second day where North Americans see no particular market-moving data after last week’s key releases, but this hasn’t stopped the session from being volatile.
Yesterday saw some heavy reshuffling in stocks from Tech and Semiconductor Sectors to , and sector in what seems to be some closing of positions as we approach the Key earnings releases for some of the biggest names in American Markets: Tesla (NASDAQ:) and Google (NASDAQ:) earnings are awaited today.
The closes down 0.60% and the up 0.40% – Even the has seen some new flows towards the smaller-cap index in the session.
Except for these reshufflings, some further fears of FED’s Powell getting ousted before the end of its term, some Hawkish RBA Minutes, and a rejection of the top in , the has been getting hammered.
Metals have also had a strong day, particularly with , up close to 1.50% on the session, being back to $50 from its all-time highs. , and also have had a decent performance.
Other commodities and cryptos have been a bit more mixed in what seems to be more profit-taking after a streak of good days.
Daily Cross-Asset Performance
Source: TradingView
is now the worst-performing asset on the session with the ongoing general profit-taking seen in markets (same for Nasdaq), leaving some space for , Gold and to rally back.
The USD and European stocks have also seen quite a retracement yesterday.
A Picture of Yesterday’s Performance for Major Currencies
Source: OANDA Labs
The US Dollar had started the session on strong selling, particularly profiting to the Japanese Yen, but the Japanese currency actually gave up some of its strength towards the NA afternoon.
The and , which had lost some ground since the past week, finish the session on top of majors.
Earnings Season: Who Is Releasing Their Numbers Today
Source: Nasdaq.com
Expect big names today, with AT&T (NYSE:) releasing earnings at the pre-open, Google and Tesla will be releasing their own numbers after the close.
A Look at Economic Data Releasing in Today’s Session
MarketPulse Economic Calendar
Today’s economic data releases should be relatively thin, with another focus on Australian data with their own releases in the evening session at 19:00 and RBA Governor Bullock speaking at 23:05.
Still, do not forget the mid-tier at 10:00 A.M. in the US, but tends not to be a major market mover.
Safe Trades!
