
The G20 summit took place in Bali, Indonesia, on November 2022…
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S&P 500 is widely considered as the best measure of the US stock market and an indicator of the overall US economic health. Therefore, you can look at the performance of the S&P 500 and get a good overview of what was going on during the chosen period.
S&P 500 dropped enormously at the beginning of 2020 amid the market crash after the Covid-19 outbreak. The stock index experienced an unprecedented swing down from 3 400 to 2 200. Since then, S&P has regained its losses and even outrun as the market shock passed and businesses started to adapt to the new conditions.
The year-end is getting closer, but most economies still haven’t been able to return to pre-crisis levels. Analysts predict that some countries will fully recover only by the end of 2021, while others only by 2022. Luckily, widespread vaccinations have already started, and that will help to take the Covid-19 spread under control. It added optimism to the market, and S&P 500 surged on hopes for further economic growth and prosperity. In fact, stocks always fall before a recession and rise ahead of recovery.
According to Goldman Sachs, the stock rally will continue in 2021 as the global economy will regain pre-pandemic levels after the vaccine rollout. The price target for 2021 is 4 300 and for 2022 – 4 600! Goldman Sachs explains such a huge increase by a surge in corporate profits next year in the technology, materials, and consumer-discretionary sectors.
Note that to trade S&P 500 with FBS, you need S&P 500-21H, which will expire on March 19.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
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