Wall Street roars back after Powell’s comment
Fed Chair Jerome Powell yesterday said he believes interest rates are close to neutral, giving Wall Street a boost. The DJ30, SPX500 and NSDQ100 all registered impressive gains. Tech finally caught up with the recent forward momentum, as Amazon leaped more than 6%, Google rose 4% and other major tech stocks, such as Facebook and Apple also registered impressive gains. Powell’s remarks will be put to the test this evening, as minutes from the latest Fed meeting will be released to the public at 19:00 GMT.
Today’s highlights: Cryptos stay in the green
- Cryptocurrencies remain positive: For the first time ever, a federal judge in the US yesterday ruled against the SEC, saying that ICOs are not securities, giving the crypto market a boost. 9 of the top 10 cryptos registered gains, including Bitcoin, which was up more than 4% at the time of writing, and Litecoin, which rose more than 6% and nearly erased its weekly losses.
- Bank of England calls for orderly Brexit: The BoE released its stress test result yesterday, alongside several possible Brexit scenarios. All 7 banks tested passed the stress test. At the same time, the BoE warned that if Brexit will not be carried out in an orderly fashion, this could result in a financial crisis for the UK, which will be worse than the one experienced in 2008.
Stocks earnings releases on 29/11/2018
Earnings season coming to a a close: The last round of earnings report will be released over the next few weeks towards the end of the year. To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.