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14th December 2022 Market Updates

FPG Fortune Prime Global Overnight headlines 

Overnight headlines 

At closing, 10 of the 11 S&P 500 industry groups were headed higher by the real estate sector. Consumer goods experienced a 0.2% decline. More than 9% of the VIX was lost. The final S&P 500 value was 4019. 

The local currency increased by 1.6%, while the Bloomberg dollar spot index fell by 0.9% as a result of the inflation report providing the Federal Reserve room to raise rates tomorrow in a smaller step. 

Following their final meeting of 2022 on Thursday, decision-makers will issue a statement. They are anticipated to vote to reduce the key rate from 0.75 percent to 0.5 percent. 

Bitcoin increased by 3.2% to $US17,728 after briefly approaching $US18,000. 

The US 10-year note’s yield decreased 10 basis points to 3.51 percent. 

At the opening bell on Wall Street, shares soared higher. The Dow increased by about 700 points in the first half of the day, and then another 100 points were added. 

The S&P 500 and Nasdaq Composite both reflected the abrupt open and retreat, although they have so far managed to stay in positive territory for the session. 

A crucial economic policy conference between Chinese leaders has apparently been postponed due to rising indications that COVID-19 infections are on the rise in Beijing. 

 

Market movements 

• AUD increased 1.6% to 68.53 US cents. 

• Bitcoin rose 3.2% to $US17,728. 

• On Wall Street: Dow +0.3% S&P +0.7% Nasdaq 1% up 

• Stoxx 50 increased by 1.7%, FTSE up by 0.8%, CAC increased by 1.4%, and the DAX increased by 1.3% in Europe. 

• Spot gold is now $181.58 USD/oz, up 1.7%. 

• The price of a barrel of Brent crude increased by 3.4% to $US80.62. 

• Iron ore up 0.05 percent to US$110.30 per tonne. 

• US 3.51% 10-year yield Germany is 1.92%, Australia is 3.40% 

 

Today’s agenda 

Local: An Efficient, Competitive, and Safe Payments System is the topic of Philip Lowe’s presentation at the 2022 AusPayNet Annual Summit. 

Overseas data: Japan’s October equipment orders, Tankan’s major manufacturing index for the fourth quarter, the NZ third quarter current account, the Eurozone’s October industrial production, the UK’s November CPI, the US’s November import and export prices, and the Fed’s Thursday policy announcement 

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