Fiona Cincotta
Fiona Cincotta
Senior Market Analyst
Expertise: Macroeconomics, Fundamental & Technical Analysis, Media
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Equities weekly forecast: Nvidia, Zoom, Target
After record highs on Wall Street last week, attention now turns to earnings from Nvidia, the darling of Wall Street, to see whether the AI stock can push for further record highs.
Dow Jones Forecast: DJIA set for a quiet start below 40,000
US stocks head for a quiet open as the CPI-fueled rally runs out of steam. Several Fed speakers have warned that rates need to stay high for longer, and they want to see more evidence of inflation cooling before cutting rates. The Dow Jones remains below the key 40,000 level that it breached yesterday. There is no high-impacting data today. Attention will remain on Fed speakers.
Nasdaq 100 Forecast: QQQ steadies after jobless claims, Fed speak
US stocks pause for breath after yesterday's rally following cooler CPI data. While the data boosted rate cut optimism, NY Fed President Williams warned that more evidence of inflation cooling was needed in order to cut rates. Separately, Walmart is set to open sharply higher after beating earnings and revenue forecasts.
USD/JPY, DAX Forecast: Two trades to watch
USD/JPY falls post-CPI & with jobless claims up next. DAX reaches record high as US CPI euphoria spreads.
Nasdaq 100 Forecast :QQQ rises towards record highs after CPI cools
US stocks are rising, heading back towards record higher after US CPI data cooled for the first time in six months in April. US CPI rose 0.3% MoM in April, below the 0.4% rise forecast. US retail sales were also weaker than expected at 0%. The data sent treasury yields and the USD lower while boosting stocks. The meme-stock euphoria was also showing signs of cooling.
EUR/USD, USD/JPY Forecast: Two trades to watch
EUR/USD rises ahead of US inflation data, Eurozone GDP figures. USD/JPY falls with US data in focus & on intervention warnings.
S&P 500 Forecast: SPX unchanged after hotter PPI & as GameStop soars
US stocks point to a mildly higher start despite hotter than-expected US PPI data ad amid signs that meme stock mania is having a revival. GameStop opened over 100% higher after rising over 70% yesterday. Federal Reserve Chair Jerome Powell will speak shortly.
GBP/USD, DAX Forecast: Two trades to watch
GBP/USD unmoved as traders shrug off wage data. DAX eases from record high ahead of German ZEW economic sentiment & US PPI.
Dow Jones Forecast: DJIA extends last week's gain ahead of Fed speakers
US stocks are set to continue the recent bullish run as treasury yields fall and attention turns to Wednesday's CPI report. Dow Jones posted its best weekly performance since December last week, supported by earnings and signs of a weaker labour market. US Fed speakers are in focus today ahead of Wednesday's CPI report, Recent Fed speakers have supported the view that rates may need to stay high for longer.
Oil, EUR/USD Forecast: Two trades to watch
Oil struggles after mixed China data and on Fed rate cut uncertainty. EUR/USD inches higher with Fed speakers & US CPI data in focus.
Equities weekly forecast: Walmart, Home Depot, Alibaba earnings previews
The health of the consumer will be in focus next week, with US inflation data, retail sales, and the start of retailers' earnings. Walmart and Home Deport will update the market. Meanwhile, Chinese e-commerce and cloud giant Alibaba will also release earnings, along with Chinese retail sales figures later in the week,