Trading on Wall Street is in a negative trend after the increases registered at the end of the week. The Nasdaq index loses 0.9%, the Dow Jones is unchanged and the S&P 500 index sheds 0.4%.
The fear index (VIX) jumps by 5.9%, which signals an increase in the level of nervousness in the market.
Traders’ eyes are on the Fed’s interest rate announcement this coming Wednesday at 21:00 (Israel time), when estimates are that the Fed will slow down the rate of interest rate increases against the backdrop of the drop in inflation.
The report season for the fourth quarter of 2022 is expected to continue with the publication of the results of the technology giant Apple, which will publish results on Thursday after the lockdown.
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Wall Street is preparing for a new trading week against the background of the price increases last week and the continuation of the rally from the beginning of the year. Let’s recall that on Friday trading closed with the gains in the leading indexes, with the Nasdaq leading the gains with 0.9% and a rising streak of 4 consecutive weeks.
A week full of reports and events is expected in the USA, as early as tomorrow (Tuesday) a busy day is expected, mainly in terms of the Dow Jones with reports from Exxon (XOM), Pfizer (PFE), McDonald’s (MCD), Caterpillar (CAT), and Amgen ( AMGN).
A busy day is also expected on Wednesday with no less than 91 reporting companies in the first, Meta Platforms (META), Termo Fisher (TMO), Novartis (NVS) and Altria Group (MO).
Thursday will be the peak of the week with 137 companies reporting, after trading reports from Apple (AAPL), Alphabet (GOOG) and Amazon (AMZN) and before trading Merck (MRK), Eli Lilly (LLY), ConcoPhillips (COP) and Bristol Myers Squab will report (BMY).
More from the market this week, a busy calendar of economic events, on Tuesday at 17:00 CB’s consumer confidence index will be published, on Wednesday the peak moment will come with the Fed interest rate expected to rise by 25 basis points to 4.75% and then market participants await Governor Jerome Powell’s statement at the press conference.
In Europe, prices drop, the DAX and CAC lose about 0.5% each, the Euro Stox 600 index loses 0.6%. Also in Europe a host of events this week. On Wednesday, the annual consumer price index in the bloc will be published. On Thursday at 15:15 the interest rate decision will be announced and it is expected to increase by 50 basis points to 2.5%.
Asian stock markets trade in a negative trend in most indexes, Australia weakened 0.1%, Shanghai and Hong Kong lost 2.7% and 1.35% respectively, Japan rose 0.2%.