Tesla deliveries may have fallen in Q1 | MarketTalk: What’s up today? | Swissquote

04/02/24 • 10 min

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The new quarter started on a hawkish note. TheS&P500 closed the first trading session of the new quarter in the negative after the ISM data unexpectedly jumped into the expansion zo ne in March, the prices accelerated faster than expected and Atlanta Fed’s GDPNow spiked to 2.8% from 2.3%. US US data suggests that the Federal Reserve (Fed) should be in no rush to cut the interest rates. The odds of a June rate cut fell to – and shortly - below 50% yesterday for the first time this year. As such, the US dollar index kicked off the new quarter on a solid footage, the dollar index soared past the 105 level. The euro, sterling and the yen weakened against the greenback. Gold advanced to fresh record, crude oil extended gains to near $85pb on rising geopolitical tensions. US factory orders and JOLTS data, German inflation and EZ final manufacturing PMI data will be on the menu of the day. In the corporate space, the quarterly deliveries from carmakers will be in focus with Tesla expected to have recorded its first sales decline in years. Listen to find out more!

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Oil hits ytd high on encouraging China PMI data | MarketTalk: What’s up today? | Swissquote

The week starts very slowly as most Western markets are closed for Easter holiday. The US revealed the latest core PCE print on a Good Friday and the Federal Reserve (Fed) Chair Jerome Powell spoke after the data. The figures came in line with expectations, the data saw limited reaction due to the Easter break. The EURUSD kicks off the week under pressure. The yen bulls are nowhere to be found, but the Nikkei index is sharply sold after the Bank of Japan’s (BoJ) Tankan index fell in the Q1 for the first time in a year, as oil extends gains to the highest ytd level on encouraging Chinese PMI data. In equities, the first quarter ended last week with the S&P500 recording its best performance since 2019. In Turkey, municipal elections of Sunday ended in tears for Erdogan-backed AKP leaders in major cities including Istanbul. The USDTRY - which is trading higher in the wake of the latest elections - should continue trending higher at a potentially higher speed as the central bank may put less effort to counter the lira’s depreciation now that the elections are behind. Listen to find out more!

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Two or three rate cuts from the Fed? | MarketTalk: What’s up today? | Swissquote

Mood was down in Asia today as the strongest earthquake in Taiwan in 25 years led to halted operations in TSM and United Microelectronics. Elsewhere, Tesla led the EV makers south with disappointing Q1 deliveries while major stock and bond markets in Europe and the US were painted in the red yesterday as rising oil and commodity prices fueled inflation expectations and further strength in the US economic data boosted worries that the Federal Reserve (Fed) may not cut the interest rates as much as wished this year. The market now prices less than three rate cuts from the Fed this year, below the three rate cuts plotted by the Fed members at last month’s FOMC meeting. Jobs data should split hairs between those anticipating three rate cuts and those banking on just two. The FTSE 100 benefited from rising oil & commodity prices and softer sterling to extend gains past the 8000p psychological mark. Listen to find out more!