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On Tuesday, the S&P 500 regained the key level of 4,000 as it climbed 53 points (+1.36%) to 4003, its highest level in 2-1/2 months. - Market update by InterTrader - November 23rd, 2022

On Tuesday, the S&P 500 regained the key level of 4,000 as it climbed 53 points (+1.36%) to 4003, its highest level in 2-1/2 months. - Market update by InterTrader - November 23rd, 2022| FXMAG.COM
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MARKET WRAP: STOCKS, BONDS, COMMODITIES 
 
 
 
 
On Tuesday, the S&P 500 regained the key level of 4,000 as it climbed 53 points (+1.36%) to 4003, its highest level in 2-1/2 months. The Dow Jones Industrial Average rose 397 points (+1.18%) to 34,098, and the Nasdaq 100 gained 171 points (+1.48%) to 11,724.

While investors awaited Wednesday's release of minutes of the Federal Reserve's November meeting, the U.S. 10-year Treasury yield retreated 6.7 basis points to 3.760%.

Semiconductors (+3.34%), energy (+3.18%), and consumer durables & apparel (+2.26%) sectors were market leaders.

Best Buy (BBY) surged 12.78%, as the consumer electronics retailer raised its full-year comparable sales guidance.

Agilent Technologies (A) jumped 8.07%, after the life science company posted better-than-expected quarterly earnings and raised its full-year earnings guidance.

Dell Technologies (DELL) climbed 6.77% and Urban Outfitters (URBN) advanced 8.89%, as both companies' quarterly results exceeded expectations.

On the other hand, Dollar Tree (DLTR) plunged 7.79% after the discount store chain said it now expects full-year earnings at the lower end of its target range.

Zoom Video Communications (ZM) fell 3.87%, and Medtronic (MDT) dropped 5.30%, as both companies gave down-beat business outlook.

Regarding U.S. economic data, the Richmond Fed manufacturing index posted at -9 for November (vs +5 expected).

European stocks also closed higher. The DAX 40 rose 0.29%, the CAC 40 gained 0.35%, and the FTSE 100 was up 1.03%.

Oil prices were boosted by Saudi Arabia saying that OPEC+ was sticking with output cuts. U.S. WTI crude futures gained $1.10 to $81.14 a barrel.

Gold price added $2 to $1,740 an ounce.
 
 
 
 
 MARKET WRAP: FOREX 
 
 
 
 
The U.S. dollar index softened against other major currencies. The dollar index fell back to 107.16.

EUR/USD rose 60 pips to 1.0302. The Eurozone's official consumer confidence index posted at -23.9 for November (vs -26.8 expected).

USD/JPY dropped 96 pips to 141.18.

GBP/USD gained 66 pips to 1.1889.

AUD/USD increased 41 pips to 0.6646. This morning, the S&P Global Australia manufacturing purchasing managers index fell to 51.5 in November.

NZD/USD rebounded 53 pips to 0.6153. Later today, New Zealand's central bank is expected to raise its key interest rate by 75 basis points to 4.25%.

USD/CHF slid 65 pips to 0.9520.

USD/CAD declined 77 pips to 1.3371. Canada's retail sales declined 0.5% on month in September (as expected).

Bitcoin rebounded 3% to $16,100.
 
 
 
 
 MORNING TRADING 
 
 
 
 
In Asian trading hours, NZD/USD traded higher to 0.6178. New Zealand's central bank increased its key interest rate by a record 75 basis points to 4.25%, and signaled further tightening going forward.

EUR/USD traded higher to 1.0317, GBP/USD was stable at 1.1884, and AUD/USD was little changed at 0.6644.

USD/JPY edged higher to 141.32.

Gold price was flat at $1,740 an ounce.

Bitcoin advanced a further 1% to $16,450.
 
 
 
 
 EXPECTED TODAY 
 
 
 
 
November S&P Global manufacturing purchasing managers index will be announced for the Eurozone (45.7 expected), Germany (45.4 expected), France (46.8 expected), the U.K. (45.6 expected) and the U.S. (50.1 expected).

In the U.S., durable goods orders are expected to grew 0.3% on month in October. The latest number of initial jobless claims is expected to rise to 228,000.

The number of U.S. new home sales is expected to fall to an annualized rate of 580,000 units in October.

U.S. crude-oil stockpiles are expected to decline 1.055 million barrels last week.
 
 
 
 
 UK MARKET NEWS 
 
 
 
 
United Utilities Group, a water and wastewater services company, reported first-half results: "Revenue was down 13 million pounds, at 919 million pounds, largely reflecting lower consumption more than offsetting the allowed regulatory revenue increase. (...) Operating profit at 259 million pounds was 74 million pounds lower than the first half of last year, (...) Reported basic earnings per share increased from (31.7) pence to 51.8 pence. (...) The Board has proposed an interim dividend of 15.17 pence per ordinary share in respect of the six months ended 30 September 2022. This is an increase of 4.6 per cent compared with the interim dividend relating to last year."

Oil & Gas, basic resources and auto & parts shares fell most in London on Monday.

From a relative strength vs FTSE 100 point of view, BP (+6.52% to 488p) crossed above its 50-day moving average.

From a relative strength vs FTSE 100 point of view, Croda International (-1.07% to 6828p) crossed under its 50-day moving average.

From a technical point of view, BAE Systems (+2.07% to 798.2p), BP (+6.52% to 488p) crossed above their 50-day moving average.
 
 
 
 
 ECONOMIC CALENDAR   
 
 
 
TimeEventForecastImportance
 
04:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 1on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 1
S&P Global/CIPS Manufacturing PMI Flash (Nov)
45.6
MEDIUM
 
 
04:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 2on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 2
S&P Global/CIPS UK Services PMI Flash (Nov)
47.6
MEDIUM
 
 
08:00
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 3on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 3
Building Permits Final (Oct)
1.526M
MEDIUM
 
 
08:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 4on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 4
Durable Goods Orders MoM (Oct)
0.3%
HIGH
 
 
08:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 5on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 5
Initial Jobless Claims (19/Nov)
228k
MEDIUM
 
 
08:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 6on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 6
Durable Goods Orders Ex Transp MoM (Oct)
0.1%
MEDIUM
 
 
09:45
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 7on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 7
S&P Global Manufacturing PMI Flash (Nov)
50.1
MEDIUM
 
 
09:45
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 8on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 8
S&P Global Services PMI Flash (Nov)
49.3
MEDIUM
 
 
09:45
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 9on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 9
S&P Global Composite PMI Flash (Nov)
49.5
MEDIUM
 
 
10:00
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 10on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 10
New Home Sales (Oct)
580k
HIGH
 
 
10:00
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 11on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 11
Michigan Consumer Sentiment Final (Nov)
54.7
MEDIUM
 
 
10:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 12on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 12
EIA Gasoline Stocks Change (18/Nov)
383k
MEDIUM
 
 
10:30
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 13on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 13
EIA Crude Oil Stocks Change (18/Nov)
-1.055M
MEDIUM
 
 
13:00
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 14on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 14
Baker Hughes Total Rig Count (25/Nov)
 
HIGH
 
 
14:00
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 15on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 15
BoE Pill Speech
 
MEDIUM
 
 
14:00
on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 16on tuesday the s p 500 regained the key level of 4 000 as it climbed 53 points 1 36 to 4003 its highest level in 2 1 2 months market update by intertrader november 23rd 2022 grafika numer 16
FOMC Minutes
 
HIGH
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