News / Uncategorized
Morning Update (6/13/22)
Morning Update (6/13/22)
August 21, 2023
Morning Update (6/13/22)
US stock futures pointed to sharp losses at the open on Monday, with the Dow set to open more than 500 points lower, the S&P 500 heading for an over 2% drop and the Nasdaq on course for a 3% slump. Major averages are poised to start the week on a sour note as investors come to terms that the economy will suffer a major hit due to bigger interest rate hikes to curb soaring inflation.
The short-term 2-year Treasury yield traded above its 10-year counterpart at one point in the session for the first time since April, highlighting recession fears. The Fed is expected to announce at least a 50bps rate increase on Wednesday, after last week’s hotter-than-expected inflation report.
In premarket trading, leisure and travel shares including Marriot, Hilton and Delta Air Lines and tech companies such as Amazon, Nvidia and Netflix, were down at least 3% each. Bitcoin slide more than 19% to below $23,500 on Monday, the lowest since December 2020, as investors dumped riskier assets amid lingering concerns about slowing economic growth on a backdrop of high inflation coupled with an aggressive tightening monetary policy.
The dollar index climbed toward 104.5 on Monday, inching closer to its highest levels in 20 years. WTI crude futures fell more than 1.5% to below $119 per barrel on Monday, extending losses for the third straight session, as investors were monitoring the covid situation in China and remained concerned that surging inflation may derail growth and impact oil demand.
Know what you own and why you own it.
Share this article:
More in Uncategorized:
Hedge funds and banks typically use multiple time frames for intraday trading
Hedge funds and banks typically use multiple time frames for intraday trading, as this allows them to gain a comprehensive...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 30, 2024
Nvidia Earnings Call: A Record Quarter with a Twist
Nvidia’s Q2 earnings call was a mixed bag, with the company reporting a record quarter but also revealing a drop...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 29, 2024
Nvidia Earnings: A Critical Moment for Big Tech
As we approach Nvidia’s earnings report, the tech world holds its breath. This isn’t just about one company’s performance; it’s...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 28, 2024
The Sleeping Giant: Why Intel is an Undervalued Stock
As the world’s largest semiconductor company, Intel (INTC) has long been a household name in the tech industry. However, despite...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 23, 2024
The Trillion Dollar Addiction...
The Trillion Dollar Addiction That Amazon, Google, Meta and Microsoft Will Be Selling Next Year As I discussed in my...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 19, 2024
What is an AI Agent? What Can It Do For You? Where Can You Get One?
As I discussed with my tribe during our recent stock talk, I’m excited to share with you the concept of...
Morning Update (6/13/22)
August 18, 2024