Reply To: Traders Market Weekly: The Fed’s Fight Against Inflation


The global equity markets are mixed. S&P Futures are down about 14 points to trade around the 4145 area. The market has slipped back after peaking out at 4158.25 in an early attempt to extend Tuesday’s rally. The range was just over 23 points which culminated with a low at 4135.00.

In Asia, both China and Japan advanced. The Shanghai Composite witnessed back and forth action. Early strength yielded only to see buyers step in after the lunch break to close the index near the session high. In Japan, the Nikkei’s gains were spurred by an upward revision to the nation’s first quarter GDP which fell less than originally estimated. Despite the benchmark’s rise, semiconductors lagged with Tokyo Electron and Advantest falling back by 1-2%.

In Europe, the major bourse are trading lower. Germany saw April Industrial Production miss expectations, leading to the markets’ stumble out of the gate. Financials are among the weakest sectors on Wednesday. Credit Suisse fell 6% after providing a second quarter trading update that highlighted challenging conditions. This has led to weakness in banking peers with Deutsche Bank and Standard Chartered reeling by 2%.