Why is there no logic in the stock market?
2022.11.23 00:46
Why is there no logic in the stock market?
Budrigannews.com – As China’s COVID curbs keep risk appetite in check, investors are avoiding big bets, and the focus is now squarely on the Fed minutes that will be released later on Wednesday.
The market has been looking, almost clamoring, for signs that the rate at which interest rates are raised is slowing.The Fed pivot that has been anticipated but not yet realized may be imminent.The market hopes so.
Additionally, Wednesday is PMI day, and preliminary November readings are expected to be released worldwide, with the UK and euro zone likely to take center stage.
As a result, the dollar remained cautious, Asian equities largely followed gains on Wall Street, and gold remained unchanged.
Contrast this with the soccer world, which is still in shock over Saudi Arabia’s comeback victory over Argentine team led by Lionel Messi at the World Cup.
Keeping with football (er, soccer), the Manchester United owners have begun the process of considering a potential sale of the club.The Glazer family’s move comes just weeks after bitter rival Liverpool also said they were thinking about selling.
With New Zealand’s central bank announcing a more hawkish monetary tightening path in the coming months and delivering its largest interest rate hike, sky-high inflation remains difficult to control.In order to bring inflation under control, the central bank issued a warning that the economy might have to enter a recession for an entire year.
The New York Times reports that Genesis Global Capital has hired investment bank Moelis (NYSE:) and that the turmoil in the crypto world continues.The company will investigate various options, including the possibility of the cryptocurrency lender filing for bankruptcy.
The collapsed cryptocurrency exchange was the target of cyberattacks and lacked “substantial” assets, as the first bankruptcy hearing for FTX revealed.
