American Stocks Rallied, USD Drop | Tesla Rallies On Citi
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US stocks spent most of yesterday’s session hesitating between slight gains and slight losses, then the release of the latest Federal Reserve (Fed) minutes helped the bulls take the upper hand, as the minutes confirmed that a ‘substantial majority’ of Fed members thought it was a good idea to slow down the pace of the rate hikes.
Stocks
The S&P500 gained around 0.60% while Nasdaq jumped around 1%.
The US 10-year yield eased, as the US dollar sold off quite aggressively across the board.
Economy
We saw a decent price action yesterday was oil, and that was well before the Fed minutes. The barrel of American crude dropped up to 5% yesterday on news that the Europeans would set the price cap for Russian oil to around $65 to $70 per barrel, levels at which Russian oil is already exchanged.
Tesla and Morgan Stanley
On individual stocks, Tesla was one of the biggest gainers of yesterday’s session as Citi and Morgan Stanley revised their views higher, but that rally was maybe… exaggerated.
Watch the full episode to find out more!
- 0:00 Intro
- 0:21 Fed minutes send stocks higher, USD lower
- 4:11 Crude oil tanks on EU’s new Russian oil price cap
- 5:55 Foxconn living a nightmare in China, but Apple holds on
- 6:32 Tesla rallies on Citi, Morgan Stanley upgrades
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
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