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Nov. 29, 2022 - Stocks waver; China headwinds ease; Oil price rises


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‼️ Stocks waver; China headwinds ease; Oil price rises

Global stocks continue to fluctuate as investors look for more clues to gauge the prospects of further Fed monetary tightening and to find out whether China will ease COVID restrictions, which have sparked protests in some cities, more quickly after all.  

Chinese stocks, particularly tech stocks in Hong Kong but also those listed in New York, rallied on hopes that China would ease the restrictions. Beijing has yet to announce any concrete steps to reopen the world's second-largest economy, but has pledged to boost vaccinations for the elderly - a move seen as crucial to ending the cycle of tight lockdowns under China's Zero-Covid strategy.

A lot of attention will also be paid to remarks by Fed officials, particularly Fed Chairman Powell. After investors were optimistic that the Fed might actually taper (slow down tightening measures), Powell may again try to reinforce his message that the fight against inflation remains the Fed's focus and will continue well into 2023, which would again put pressure on equities and extend the rotation from growth (especially technology) to defensive sectors.

We see that much of yesterday's panic selling has been reversed and the USD has also stopped its resurgence attempt for now. Oil prices recovered from the lowest level in almost a year on speculation that OPEC+ will extend its supply cuts in response to weakening oil prices and demand concerns. 

For now, the stock market remains very mixed, with the energy sector recovering from yesterday's sharp losses. The commodity/materials sector is also benefiting from higher commodity prices. Market sentiment remains extremely shaky and we will see stocks move mostly sideways. 


🇺🇸 US Markets ↕️
Cyclical Stocks ↕️
Tech/Growth Stocks ↕️
Financial Stocks ➡️
Defensive Stocks ➡️/↗️
Energy Stocks ↗️

💱 Forex Markets
AUD ↗️ (benefiting from higher commodity prices)
CAD, GBP ➡️/↗️
CHF ➡️/↘️

⚒ Commodity Markets ➡️/↗️
Oil prices ↗️
Natural Gas prices ➡️/↗️
Metal prices ➡️/↗️
Precious Metals ➡️/↗️

⚡️Crypto Market ➡️
(no recommendation to trade a "recovery")

(*↗️ bullish, ↘️ bearish, ➡️ sideways / stable, ↕️ mixed / volatile)

Yours, Robert 📈📉📈📉🛢📈


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