There is a general question among stock traders: "How low will the bears push the stocks"?
The question arose as global stocks continue their bearish trend last week and opened lower at the start of this week's session. The current bearish sentiment on this asset class is further fueled by the decision of the policymakers at the Federal Reserve to hike the Federal Fund rate (Interest rate) by a half percentage point. This recent decision is not expected to be the last as inflation around the world continues to skyrocket signalling more hikes of similar magnitude might still be on the card. The Fed is not alone when it comes to hiking rates as all major central banks have been very hawkish recently in a bid to stabilise the economy and arrest galloping pricing for consumers.
All eyes will be on the Consumer Price Index set to be released on Wednesday and the Producer Price Index on Thursday, the latter being a gauge of wholesale prices and the former consumer prices. The data will all but confirm the expected 50 basis point hike to be announced especially if the year-over-year comparison of falls with a considerable margin but if not the price pressures will remain elevated and the general sentiment on the stocks will retain bearish stance.
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