Analyst
We see Wall Street trading slightly lower with low volatility and reduced trading volume (in pre-market trading) after the S&P 500 jumped 0.8% on Friday to end the week and even the month positively. A rally led by large cap stocks has helped Wall Street to recover from recent losses - we see the tech heavy Nasdaq 100 currently 0.3% in pre-market.
Trading volume was reduced today with many major markets closed for a holiday.
Shares of First Republic Bank were halted after plunging again (in pre-market trading). Regulators had been working into the evening hours Sunday in Washington before announcing that JPMorgan had won the bid to take over First Republic as part of a government-led emergency measure. The collapse of First Republic was the second largest bank failure in U.S. history, and while we read that First Republic was "rescued" by JPMorgan written by (financial) journalists, we see a bank failure and a U.S. banking giant swallowing a smaller rival. JPMorgan will benefit from the acquisition, but concerns about the health of regional banks will remain.
Main focus this week will be on interest rate decisions. The Fed is widely expected to hike by another 25 basis points - same with the ECB. However, investors are very optimistic that the Fed will announce the end of tightening cycle and point towards rate cuts that start in Q3. I believe that is widely too optimistic - also the ECB will keep a hawkish rhetoric. Both the Fed and ECB will try to avoid a dovish signal that significantly increases the risk of inflation to become more entrenched.
We are also in another busy week of earnings reports - including Apple and AMD. HSBC in Asia, and German auto giant Volkswagen, as well as Europeans oil & gas behemoths BP and Shell.
Commodity prices remain pressured from rising signs of slowing economies. Gold remains near key-level $2,000 and continues to benefit from the dovish hopes/expectations of investors.
When I joined the Rally family, I had zero knowledge about forex. I attended their seminars and lectures and it was a thorough and quality experience. Talking about my success in forex , it’s a steady process , I’ve enjoyed lots of profits and a few losses. I’m grateful for the rally trade foundation I have, I look to grow from under the wings of Rally.
Kobi
I was told I could make money in my comfort zone, then I thought; “this could actually happen in my dreams”. But guess what, I made money and I’m still making money in my comfort zone with RALLY TRADE. To my account manager OLUWASEUN: thank you for keeping to your words and for being nice at the same time, thank you for having my back, you’re the best.To RALLYTRADE: thank you for this opportunity and for letting me know I could do more and better with myself..
Ebere Uzodinma
I am so much impressed not by anybody's action or motivation to pronounce my encounter with rally trade company. I would love to say this company has done so much in my life; personally. I listen to a radio station programme about a seminar/training on how to trade forex, I planned to attend though I don't believe it will work for me. After the training I got a call from one of Rally trade staff, in person of Tamuno who done so much to convince me to go in for the trade. This young girl have been so impacting since I stated the trade and she has never for once ignore my request for support and advice; I so much appreciate you...
Oluwatuyi Timileyin Samuel
THANK YOU, THANK YOU, THANK YOU Rally trade team for the excellent work you are doing. I recommend rally trade for anyone who want to profitably trade Forex on a consistent basis.
Oluwaseun Kayode
I have been with rally trade broker for one year now, they are reliable broker and they have excellent performance in term of training, customer service and prompt payment of profit withdrawal. Morealso, i am also beneficiary of one of their partner program (introducing broker) which I have been receiving payment for monthly commission on it. I recommend Rally trade to d prospective individual and company that intend to trade in forex . Thanks to Rally Trade
Adefuwa Ayodele