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Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed

Fed meeting in the spotlight; equities under pressure Dollar strength continues, could intensify if Fed appears hawkish Questionable yen intervention result; more action over the next sessions? Bitcoin fights for $60k level; oil in retreat despite Middle East headlines May starts on a high note The Fed meeting concludes today with the decision announced at 18:00 GMT and the press conference taking place 30 minutes later.
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Amazon earnings set for AI-driven cloud and ads boost – Stock Markets

Amazon.com will unveil its Q1 results on Tuesday after the market close AI will be front and centre, both for actual results and for future plans But will investors be impressed amid a pullback in the stock? Q4 set the bar high Amazon’s share price skyrocketed after it announced its Q4 earnings back in February, pulling the broader uptrend a leg higher.
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Are there more AI growth opportunities to be priced into the markets?

Nvidia skyrockets and drives the S&P 500 to new records Demand for chips continues to surge, AI enters consumers’ life There maybe more AI growth opportunities to be priced in But downside risks on high valuations and geopolitics do exist Nvidia beats already optimistic estimates Just last week, the investor favorite Nvidia beat out Amazon and Alphabet to take the third place as the most valuable company in the US by market capitalization, and although the chipmaker’s
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Magnificent 7 earnings assert dominance, focus shifts to Nvidia – Stock Markets

Magnificent 7 earnings endorse their relentless rally Tesla lags, while Apple shows some signs of weakness Valuations are stretched despite rosy projections   In their own world The so-called Magnificent Seven group comprised of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla has gone parabolic since early 2023, outperforming the broader US stock market by a wide margin.
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Is the 5,000 milestone in sight for the S&P 500? – Stock Markets

Mega-cap stocks drive S&P 500 towards 5,000 milestone AI and tech dominate the bull charge to unchartered territory But how sustainable is the uptrend? A wobbly start to 2024 It wasn’t the best start for Wall Street in 2024 as the major indices stumbled during the first week of the new year. However, it didn’t take long for Fed rate cut expectations to take off again and revive risk appetite.
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Market Comment – Powell pushes back on March rate cut, BoE on tap

Fed’s Powell says March rate cut not the “base case” Dollar gains, but Treasury yields slide BoE to stand pat, focus to fall on guidance Wall Street tumbles, awaits more earnings results Dollar gains on less-dovish-than-expected Fed The US dollar gained against all but two of its major counterparts yesterday, losing ground only against the yen and ending the day virtually unchanged against the franc.
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Technical Analysis – Amazon stock rallies to 21-month high

Amazon stock continues bullish structure Technical oscillators enter overbought regions Amazon shares recorded a stunning rally in Monday’s session, creating a new 21-month peak of 161.16. The stock has posted gains of more than 12% since the beginning of the year and the technical oscillators suggest that the market could rise even higher.
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Market Comment – Stocks, dollar steady after goldilocks data as Fed awaited

Stocks perky ahead of Fed decision as US data and China measures lift optimism Dollar and yields little changed after goldilocks reports, NFP eyed next Oil and gold spike on geopolitical concerns amid fresh ME tensions Markets await direction from the Fed Stocks were mixed on Monday amid a cautiously risk-on tone ahead of a very busy week for the markets that’s expected to get heated up mid-week by the Fed’s policy decision, culminating with the latest payrolls report on Fri
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Amazon earnings set to soar, can the stock follow? – Stock Markets

Amazon will release earnings on Thursday, after the closing bell Impressive earnings growth expected, driven by advertising and cloud That said, valuation is not cheap, which could limit upside in stock price     Bringing costs under control Amazon’s share price rose by a stunning 81% last year, as the market regained confidence in the company’s ability to deliver profits.
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Market Comment – Dollar climbs above 150 yen as Treasury yields rebound

Treasury yields rebound, lift the dollar ahead of US GDP data Dollar/yen rises past 150, rings intervention alarm bells ECB to take the sidelines, focus to fall on forward guidance Wall Street tumbles as Alphabet disappoints Will US GDP data add more fuel to the dollar’s engines? The US dollar extended its gains as US Treasury yields rebounded, with the 10-year benchmark rate resuming a move towards the psychological zone of 5.0%, briefly breached on Monday.
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Technical Analysis – Amazon stock undecided ahead of Q3 earnings

Amazon stock experienced a downside correction from 2023 high Has been trading without clear direction since then Momentum indicators suggest a cautiously positive bias Amazon’s stock had been in a steady uptrend since the beginning of the year, attempting to erase part of its huge 2022 decline. However, in mid-September the stock pulled back from its 2023 peak, with the price trading sideways below the 50-day simple moving average (SMA) for the first time since early March.
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Amazon stock awaits earnings results for direction – Stock Markets

Amazon is forecast to announce another round of strong results But valuations suggest it remains expensive compared to its peers Results are scheduled for Thursday, after Wall Street’s closing bell Another round of stellar results? Starting as an online bookstore, Amazon is now one of the world’s largest and most diversified firms, with its current businesses including selling all kinds of goods, streaming services, cloud computing and even health care.
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Market Comment – Dollar at 10-month high as yields keep surging

US 10-year yield hits 16-year high amid no letup in hawkish Fed rhetoric Dollar powers ahead, euro and pound crumble, yen in danger zone Stocks resume decline after late rebound on Wall Street Bond market rout deepens The selloff in bond markets is showing no sign of easing as investors are dumping government securities in favour of cash amid expectations that interest rates in the US may yet rise further.
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Market Comment – Equities left reeling from yields spike, FX quiet ahead of NFP

China support aids rebound in stocks after bruising week amid surging yields Dollar steady as markets brace for possible surprises in July jobs report Pound off lows but BoE offers little upside, aussie crawls higher too Mood improves as bond rout eases before NFP Global equity markets started Friday on a somewhat more optimistic tone after coming under heavy selling pressure this week from a spike in bond yields even as major central banks signal doubts about the need for additional
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Market Comment – Dollar extends gains, BoE enters the limelight

Dollar strengthens on ADP and US debt downgrade ISM non-mfg. PMI the next test for dollar traders BoE expected to hike by 25bps; Will it sound hawkish? Wall Street slumps after US rating cut Dollar wears its safe-haven suit The US dollar continued gaining ground on Wednesday and it appears to be holding firm today as well. The greenback has been slowly gaining ground since the beginning of the day on Wednesday, perhaps due to safe-haven inflows after the unexpected downgrade of the
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Technical Analysis – Amazon stock erases pullback as earnings announcement looms

Amazon’s stock has been in a steady uptrend since the beginning of the year, attempting to erase part of its 2022 decline. In the short term, the stock experienced a pullback after posting a fresh 2023 peak of 136.30, but quickly found its footing around the 50-day simple moving average (SMA). The momentum indicators are currently reflecting a divergence.
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Amazon Q2 Earnings: AWS and E-commerce segment follow different paths – Stock Market News

Amazon.com will unveil its Q2 financial results on Thursday, August 3, after Wall Street’s closing bell. The world’s biggest online retailer is set to post solid figures as its aggressive expansion in a range of secondary sectors seems to be coming to fruition. Also, the e-commerce segment is expected to rebound despite global weakening consumer demand, while Amazon Web Services (AWS) will most likely continue exhibiting slowing growth.
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Week Ahead – Fed, ECB and BoJ decisions take center stage

Following a relatively quiet week in terms of economic data and events, the spotlight now turns to three major central banks: the Federal Reserve, the European Central Bank, and the Bank of Japan. With investors anticipating only one more hike by the Fed, the focus will be on whether officials will signal the end of this hiking cycle, while with several ECB members pushing back on a September hike, it will be interesting to see whether Lagarde has also changed her stance.
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Artificial Intelligence: Is the ‘baby bubble’ ready to pop?

Wall Street has been in a rally mode this year, despite the Fed hiking rates and signaling that more hikes are looming before the end of this tightening crusade. It seems that the biggest driver behind the gains is the enthusiasm about artificial intelligence (AI). So, with the Nasdaq gaining more than 40% from its October lows, the financial community seems to be asking this question: Will the rally continue or is this ‘baby bubble’ ready to pop?
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Amazon’s stock has been in a steady uptrend since the beginning of the year, posting consecutive multi-month peaks. In the latest daily session, the price posted a fresh 9-month high of 131.36 but quickly pared some gains as the bulls seem to be exhausted. This loss of positive momentum is also reflected in the short-term oscillators. Specifically, the RSI is ticking downwards above its 50-neutral mark, while the MACD dropped beneath its red signal line but remains positive.
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