Read this before you start trading today!
US indices finished yesterday’s trading lower. S&P 500 dropped 0.76%, Dow Jones declined 0.94% and Nasdaq finished 1.12% lower. Russell 2000 dropped more than 3%
Stocks in Asia are trading lower as well. Nikkei dropped 2%, Kospi moved 0.2% lower and indices from China declined. S&P/ASX 200 gained 0.5%
DAX futures point to a lower opening of the European session
Fed Bullard expects 6.5% GDP growth and an unemployment rate below 4.5% this year. Fed Brainard said that he expects some transitory inflation pick-ups
Hong Kong and Macau has halted vaccinations with BioNtech vaccine due to packaging defects
Biden said that 100 million stimulus check will be distributed by today
Honda decided to extend production halts in some North American plants amid supply chain issues. Intel announced that it will spend $20 billion to build to chip factories in Arizona
A massive container ship got stuck in Suez Canal, blocking the waterway in both directions
South Korea confirmed that North Korea has launched 2 missiles on Sunday
API report signalled a 2.93 million barrel build in oil inventories (exp. -0.9 mb)
Japanese manufacturing PMI for March came in at 52.0 pts (exp. 51.3 pts)
Oil is trying to recover following yesterday’s massive sell-off. Brent climbed back above $61 while WTI trades above $58
USD and JPY are the best performing major currencies while AUD and NZD lag the most
WTI (OIL.WTI) plunged over 5% yesterday. Price of the commodity dropped below the 50-session moving average and reached a 6-week low. Bulls managed to halt declines at around $57.75 per barrel – the lower limit of the Overbalance structure – and now a recovery attempt can be spotted.