Tech Stocks: Tesla Stock Price Supported By Earnings! Italy Is Experiencing Political Issues! Mario Draghi To Quit!
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Three parties in Mario Draghi’s coalition turned their back against him at yesterday’s confidence vote, meaning that Mario Draghi will resign again, today. Unfortunately, the fact that Italy could sink into political chaos comes as an additional layer of stress for the European Central Babk (ECB), which is preparing to raise the interest rates for the first time since a long time.
Nord Stream 1
Good news is that the Russian President Vladimir Putin said that the gas flow to Europe will be restored via the Nord Stream 1 pipeline today, but took the opportunity to warn the Europeans that the gas flow will be tightly curbed until the problems with the sanctioned turbine parts are resolved.
Gold Price
Gold slipped below the $1700 per ounce on the back of waning geopolitical tensions. In the absence of news that would trigger massive safe haven flows, the yellow metal should continue its journey to the south. The European gas futures eased, and the EURUSD advanced past the 1.0270 yesterday on the back of a broadly softer US dollar, encouraging news from the Nord Stream 1, and the rising expectation that the ECB could opt for a 50bp hike today, rather than a 25bp hike.
Stocks - Tesla And Netflix
In the US, the S&P500 posted its first back-to-back gains in almost two weeks and Nasdaq gained the most with a 1.58% advance as Netflix jumped 7.35% on the back of less disappointing quarterly results. Tesla announced better than expected earnings after the bell, and the stock priced jumped 4% in the afterhours trading. Yet, news that Tesla sold a big chunk of Bitcoin to add near a billion dollar to the company’s balance sheet sent Bitcoin back below the $23K mark yesterday. Watch the full episode to find out more! 0:00 Intro 0:36 Draghi's resignation is an extra problem for the ECB! 3:03 At least, Nord Stream 1 will reopen 3:25 Gold sinks below $1700 per ounce 4:14 Euro gains before ECB decision 5:36 Soft energy, strong earnings boost US equities 6:17 Tesla jumps on better-than-expected results, Bitcoin dived 7:47 Climate change efforts boost green energy stocks 8:23 Chip stocks rally on US Chip Act 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. #Draghi #resignation #ECB #meeting #rate #hike #EUR #NordStream1 #pipeline #XAU #gold #selloff #natural #gas #crude #oil #Tesla #earnings #energy #Bitcoin #Enphase #Chip #Act #NVDA #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
