Stocks

The US Dollar was very strong in October as rising odds of a Trump win started to get priced-in to markets, but can equities avoid a pullback if longer-term US rates continue to fly-higher?

S&P 500 futures pulled back again last week and as yields have continued their run-higher, there’s more potential for greater pullbacks ahead. Both the election and FOMC can bring impact on both fronts.

As we head deeper into a pivotal week and a half, several high-impact events could shape market direction. Investors are bracing for a series of earnings reports from major companies, often referred to as the "Magnificent 7" stocks, alongside the US monthly jobs report. These, combined with the US election on November 5, represent a series of risk events that could sway investor sentiment and thus impact the Dow.

As we head into a pivotal week and a half, several high-impact events could shape market direction. Investors are bracing for a series of earnings reports from major companies, often referred to as the "Magnificent 7" stocks, alongside the US monthly jobs report. These, combined with the US election on November 5, represent a series of risk events that could sway investor sentiment and thus impact the Dow forecast.

The S&P 500 has shown resilience, with US stocks rebounding on the back of strong earnings reports today. Positive surprises from major companies, such as Tesla, and strong performances in Europe are helping to stabilise sentiment.

Following the big tech-fuelled rally on Wall Street, the major US indices fell back, with the Nasdaq 100 being down about 2.5% at the time of writing. We had a number of weaker-than-expected US economic reports, in particular the ISM services PMI, while mixed technology earnings results and a more hawkish Federal Reserve and Bank of England policy decisions (and not forgetting the Bank of Japan), all weighed on risk appetite.

Today's gains were largely driven Nvidia’s 11% surge, as beaten-down chipmakers rallied. Meanwhile, softer economic data further boosted bets that the Fed will signal a rate cut in September, with the potential for two more cuts being priced in before the year is out. The Nasdaq 100 forecast remains bullish from a technical point of view with the index holding above a key bullish trend line.

While the tech sector's struggles have dominated headlines, it's crucial to note that the broader stock market's performance is not solely dependent on the "magnificent 7" group of tech stocks. The Dow Jones Industrial Average reached its fourth consecutive record high on Wednesday, driven by sector rotation. The small-cap Russell 2000 index has also posted substantial gains lately, spurred by last week's inflation report showing consumer prices falling to 3.0% year-over-year in June.

Find out everything we know about the Reddit IPO including the date, share price, valuation and how to trade Reddit stock.

Especially for those traders who like to dabble in markets exposed to currency or interest rate risk.

Golden Goose is an Italian footwear brand seeking a valuation of 3 billion euros on the Milan stock exchange. Learn more about the company’s rapid international growth ahead of its IPO.

Investors consider key risks facing stocks, with Core PCE inflation coming up, ahead of FOMC and NFP next week. European stocks surge on LVMH earnings beat. Meanwhile, Nasdaq 100 technical analysis shows some warnings signs for bulls.

Learn everything you need to know about Panera Bread and other companies included in the conglomerate ahead of Panera Brands’s IPO.

Fanatics is reportedly projecting about $8 billion in revenue in 2023, excluding trading card rights, ahead of a potential IPO.

The Magnificent Seven stocks made up more than 100% of the S&P 500's earnings growth last year - how will their Q4 earnings fare?

Turo, a leading player in the peer-to-peer car-sharing industry, is reigniting its ambitions to become a publicly traded entity through an IPO.

In the wake of the dovish rate-cut euphoria that had propelled stocks to record highs at the close of the previous year, many investors are now left wondering whether they pushed stocks too high, too soon.