The British pound is taking a hammering as the new Chancellor of the Exchequer, Kwasi Kwarteng, announced tax cuts to stimulate the economy.
FedEx is a delivery company and therefore its heavily tied in with consumer activity, so the performance of the company can viewed as a gauge of consumer appetite.
Tesla’s share price has been going down a gear for the past four months.
By David Madden (Market Analyst at Equiti Capital)
By Stuart Cole, Head Macro Economist, Equiti Capital
By Stuart Cole, Head Macro Economist, Equiti Capital
- Unlike the Federal Reserve (Fed) and Bank of England (BoE), the European Central Bank (ECB) policy remains in ‘support’ mode
- But with CPI at 5%, tensions are growing that an accommodative monetary policy is no longer required
- The reality is the ECB is also working to avoid another blow-out in sovereign bond yields
Volatility in the markets has drifted lower today as equities are trading within a relatively small range, and the currency market is calmer too. Equity markets in Europe are largely higher this afternoon as the rebound that began on Tuesday is still in play.
Traders are buying back into European equity markets as government bond yields are a little lower. At the start of the week, the US 10-year yield pushed above 1.80%, and that triggered a wave of selling in equities, in particular US stocks.
Learn what inflation is and what causes it.
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