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MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Friday, U.S. stocks closed lower as the S&P 500 dropped 9 points (-0.25%) to 3,839, the Nasdaq 100 slipped 11 points (-0.1%) to 10,939 and the Dow Jones Industrial Average fell 73 points (-0.22%) to 33,147.

Shares in the Automobiles & Components (+0.82%), Energy (+0.76%), and Technology Hardware & Equipment (+0.16%) sectors were the top performers while shares in the Real Estate (-1%), Utilities (-0.96%), and Commercial & Professional Services (-0.91%) sectors underperformed the most during the trading session.

Looking back at the performance of the indices in 2022, the S&P 500 declined 19.44%, the NASDAQ Composite plunged 33.10% and the Dow Jones Industrial Average dropped 8.78%.

On the U.S. equity front, Micron Technology (MU), a manufacturer of memory chips, fell 1.32% and underperformed the Nasdaq 100 as Argus Research downgraded the stock to hold from buy. Nikola Corporation (NKLA), a hydrogen-electric vehicle maker, declined 9.62% after deciding to sell up to 125 million dollars of senior convertible notes in a registered direct offering.

Meanwhile, MicroStrategy Inc (MSTR), the worldwide provider of business intelligence software, rose 3.62% after disclosing its first ever sale of Bitcoin.

On the U.S. economic data front, the December Chicago Purchasing Managers Index bounced to 44.9, above 42.0 expected, from 37.2 in November.

The U.S. 10-year Treasury Yield rose 6 basis points to 3.875%.

European stocks were under pressure. The Dax 40 declined 1.05%, the Cac 40 slid 1.52% and the FTSE 100 lost 0.81%.

U.S. WTI Crude Futures gained $2.00 to $80.41.

Gold was up $9.3 to $1,824.

Market Wrap: Forex

The U.S. dollar index dropped 0.3% to 103.48.

EUR/USD added 42 pips to 1.0703.

GBP/USD rose 41 pips to 1.2096. The U.K. Nationwide house prices fell 0.1% on month in December, compared with an expected decline of -1.0%.

USD/JPY plunged 192 pips to 131.11, while USD/CHF increased 14 pips to 0.9246.

Commodity-linked currencies were firm against the greenback. AUD/USD climbed 34 pips to 0.6812 while the USD/CAD fell 7 pips to 1.3541.

Over the weekend, China's official manufacturing purchasing managers index fell to 47.0 in December from 48.0 in November, below 49.5 expected, and non-manufacturing purchasing managers index dropped to 41.6 from 46.7, below 48.4 estimated.

MARKET COMMENTARY




On Monday, U.S. markets were closed for the New Year holiday.



Tesla (TSLA) reported that vehicle deliveries increased 40% on year to a record of 1.31 million vehicles in 2022, and amounted to 405,000 vehicles in the fourth quarter, up from 308,000 vehicles in the prior-year period.



In Europe, the DAX 40 rose 1.05%, the CAC 40 gained 1.87%, while the U.K. market was closed for a bank holiday.







The U.S. dollar index climbed to 103.63.



EUR/USD fell 38 pips to 1.0667.



GBP/USD dropped 35 pips to 1.2048.



However, USD/JPY declined 39 pips to 130.73.



AUD/USD lost 8 pips to 0.6805.



USD/CHF edged up 2 pips to 0.9247, and USD/CAD added 18 pips to 1.3572.



Bitcoin traded higher to $16.700.

MARKET COMMENTARY




On Tuesday, major U.S. stock indexes closed lower dragged by Tesla (TSLA) and Apple (AAPL). The S&P 500 fell 15 points (-0.41%) to 3,823, and the Nasdaq 100 slid 77 points (-0.70%) to 10,862, while the Dow Jones Industrial Average dipped 10 points (-0.03%) to 33,136.



The U.S. 10-year Treasury yield dropped 11.3 basis points to 3.761%.



Automobiles (-8.73%), energy (-3.63%), and technology hardware & equipment (-2.8%) sectors lost the most, while consumer durables & apparel (+1.52%), media (+1.42%), and telecoms services (+1.28%) sectors posted gains.



Tesla (TSLA) plunged 12.24% as the market viewed the electric-vehicle maker's fourth-quarter deliveries as lower than expected.



Apple (AAPL) fell 3.74% as the stock was downgraded to "neutral" from "outperform" at Exane BNP Paribas.



On the other hand, Wynn Resorts (WYNN) rose 3.81% as the stock was upgraded to "overweight" from "equal-weight" at Wells Fargo.



Regarding U.S. economic data, construction spending rose 0.2% on month in November (vs -0.4% expected).



European stocks closed higher. The DAX 40 rose 0.80%, the CAC 40 gained 0.44%, and the FTSE 100 was up 1.37%.



U.S. WTI crude futures fell $3.10 (-3.86%) to $77.13 a barrel.



Gold price climbed $15 to $1,839 an ounce.







The U.S. dollar strengthened against other major currencies. The dollar index rose to 104.64. The Federal Reserve will release minutes of its December monetary-policy meeting later on Wednesday.



EUR/USD declined 114 pips to 1.0553. Germany's data showed that inflation rate slowed to 8.6% on year in December (vs +9.1% expected), and the jobless rate was stable at 5.5% (vs 5.6% expected).



GBP/USD slid 75 pips to 1.1971.



USD/JPY rose 13 pips to 130.93. The pair hit a six-month low of 129.51 within the session.



AUD/USD dropped 75 pips to 0.6727.



USD/CHF added 98 pips to 0.9359, and USD/CAD jumped 99 pips to 1.3672.



Bitcoin traded slightly lower to $16,660.

Did you have to provide an interview on their YouTube Channel as stated in their terms?

No, they would ask if they want to but no one is forced.

Hopefully it is like that because their terms state otherwise. However, their other conditions seem to be quite good.

They wouldn't want to lose a good trader just because of an interview.

There has been some discussion about this on their Discord channel, hopefully they will change their terms to match reality.

I will forward your suggestion to them. Thank you.

"We request an interview from all traders after first payout some so do them and some dont. 99% of good trades love to share their story. If someone doesn’t want to do one then they don’t" - Ryan, COO of Smartproptrader

This is obviously the issue:

I am on it.

MARKET COMMENTARY




On Wednesday, U.S. stocks closed higher. The Dow Jones Industrial Average rose 133 points (+0.40%) to 33,269, the S&P 500 climbed 28 points (+0.75%) to 3,852, and the Nasdaq 100 was up 52 points (+0.48%) to 10,914.



Minutes of the Federal Reserve's December monetary-policy meeting showed no surprise or new information about the central bank's latest rate-hike decision.



Regarding U.S. economic data, the Institute for Supply Management (ISM) manufacturing purchasing managers index fell to 48.4 in December (vs 49.0 expected). The U.S. Labor Department reported that the number of job openings declined to 10.458 million in November (vs 10.100 million expected).



The U.S. 10-year Treasury yield fell a further 5.2 basis points to 3.687%.



Automobiles (+4.42%), semiconductors (+2.61%), and consumer services (+2.31%) sectors were the top performers.



Tesla (TSLA) rebounded 5.12%, General Motors (GM) rose 2.57%, Micron Technology (MU) traded 7.6% higher, and Meta Platforms (META) rose 2.11%.



Also, Bath & Body Works (BBWI) jumped 10.51%, and Salesforce.com (CRM) gained 3.57%.



Alibaba (BABA) jumped 12.98% after Jack Ma, the company's founder, was allowed by the Chinese government to raise funds for his financial unit Ant Group.



On the other hand, Microsoft (MSFT) fell 4.37% after the stock was downgraded to "neutral" from "buy" at UBS.



European stocks also closed higher. The DAX 40 rose 2.18%, the CAC 40 increased 2.30%, and the FTSE 100 was up 0.41%.



Oil prices dropped further as investors kept worrying about fuel demand amid a slowing global economy and surging Covid cases in China. U.S. WTI crude futures sank $3.80 (-4.94%) to $73.15 a barrel.



Gold price increased $15 to $1,855 an ounce.







The U.S. dollar softened against other major currencies. The dollar index retreated to 104.24.



AUD/USD surged 113 pips (+1.68%) to 0.6840 after the Chinese government allowed coal imports from Australia, the first time since 2020.



EUR/USD gained 59 pips to 1.0607. France's data showed that the inflation rate slowed to 5.9% on year in December (vs +6.3% expected).



GBP/USD climbed 89 pips to 1.2057.



USD/JPY jumped 167 pips to 132.69.



USD/CHF fell 59 pips to 0.9301, and USD/CAD slumped 191 pips to 1.3480.



Bitcoin traded higher along with other risky assets, climbing to $16,800.

MARKET COMMENTARY




On Thursday, U.S. stocks closed lower. The Dow Jones Industrial Average fell 339 points (-1.02%) to 32,930, the S&P 500 dropped 44 points (-1.17%) to 3,807, and the Nasdaq 100 was down 173 points (-1.59%) to 10,741.



Stronger-than-expected U.S. jobs data raised investors' expectations that the Federal Reserve may keep its tightening monetary policy. The ADP jobs report showed that the economy added 235,000 private jobs in December (vs +150,000 expected). The U.S. Labor Department reported that the latest number of initial jobless declined to a three-month low of 204,000 (vs 230,000 expected).



The official U.S. jobs report will be released later today, and it is widely expected that the economy added 220,000 nonfarm payrolls in December with the jobless rate remaining stable at 3.7%.



The U.S. 10-year Treasury yield rose 2.2 basis points to 3.705%.



Real estate (-2.89%), software & services (-2.44%), and commercial & professional services (-2.24%) sectors led the market lower.



Amazon.com (AMZN) fell 2.37% after the company announced plans to slash more than 18,000 jobs blaming uncertainty in the economy.



Bed Bath & Beyond (BBBY) plummeted 29.88% as the retain chain said it was assessing options including filing for bankruptcy.



Constellation Brands (STZ) dropped 9.71%, and Walgreens Boots Alliance (WBA) fell 6.13%.



On the other hand, Lamb Weston Holdings (LW) jumped 9.77%, T-Mobile US (TMUS) rose 3.23%, and Conagra Foods (CAG) was up 3.42%.



European stocks closed mixed. The DAX 40 lost 0.38%, the CAC 40 fell 0.22%, while the FTSE 100 rose 0.64%.



U.S. WTI crude futures rose $1.00 to $73.87 a barrel. The U.S. Energy Department reported that the latest crude oil inventories increased 1.694 million barrels (vs +1.154 million barrels expected).



Gold price retreated $21 to $1,833 an ounce.







The U.S. dollar index rose to a four-week high of 105.15.



EUR/USD fell 85 pips to 1.0519. The Eurozone's data showed that producer prices declined 0.9% on month in November (vs -0.5% expected). Germany recorded a trade surplus of 11.1 billion euros in November (vs 4.5 billion euros expected).



USD/JPY rose 74 pips to 133.37.



GBP/USD dropped 146 pips to 1.1909.



AUD/USD retreated 89 pips to 0.6750.



USD/CHF added 66 pips to 0.9364, and USD/CAD jumped 101 pips to 1.3579.



Bitcoin remained firm at $16,855.

Hi there I did a follow up and the COO repeated the same statement as the above.

Payout

MARKET COMMENTARY




On Friday, U.S. stocks rallied over 2%, as data showed that the economy is slowing down, raising expectations that the Federal Reserve would pause its rate-hiking cycle soon. The Dow Jones Industrial Average rose 700 points (+2.13%) to 33,630, the S&P 500 climbed 86 points (+2.28%) to 3,895, and the Nasdaq 100 jumped 299 points (+2.78%) to 11,040.



U.S. official data showed that the economy added 223,000 nonfarm payrolls in December (vs 220,000 expected) with the jobless rate declining to 3.5% (vs 3.7% expected). However, growth in average hourly earnings declined to 0.3% on month (vs +0.5% expected), and 4.6% on year (vs +5.0% expected), the smallest rise since August 2021.



Meanwhile, the Institute for Supply Management (ISM) non-manufacturing purchasing managers index fell to 49.6 in December (vs 53.0 expected), the first contraction reading in over 2-1/2 years.



The U.S. 10-year Treasury yield dropped 15.3 basis points to a two-week low of 3.565%.



Semiconductors (+4.65%), food & staples retailing (+4.46%), and transportation (+3.64%) sectors were the top performers Friday.



Tesla (TSLA) rose 2.47% after the electric-vehicle maker cut prices again on its Model 3 and Model Y vehicles in China. However, Chinese electric-vehicle makers NIO (NIO) and XPeng (XPEV) fell 4.51% and 15.04% respectively.



Biogen Idec (BIIB) traded 2.82% higher after the Alzheimer's drug, Leqembi, developed by the company and Eisai Co was approved by the U.S. Food and Drug Administration.



Snowflake (SNOW) rose 2.06% after it was rated "overweight" at Wells Fargo, and Waste Management (WM) gained 3.65% as it was rated "buy" at Citi.



On the other hand, Bed Bath & Beyond (BBBY) plunged 22.49% on reports that the company will prepare for a bankruptcy filing.



European stocks closed higher. The DAX 40 rose 1.20%, the CAC 40 gained 1.47%, and the FTSE 100 was up 0.87%.



U.S. WTI crude futures were little changed at $73.76 a barrel.



Gold price jumped $33 to $1,865 an ounce.







The U.S. dollar weakened against other major currencies on signs of an economic slowdown. The dollar index fell to 103.91.



EUR/USD jumped 122 pips (+1.16%) to 1.0644. The Eurozone's inflation rate declined to 9.2% on year in December (vs +9.8% expected).



In Germany, factory orders dropped 5.3% on month in November (vs -0.7% expected), retail sales grew 1.1% on month in November (vs +0.6% expected).



GBP/USD surged 190 pips (+1.60%) to 1.2098. In the U.K., the Halifax house price index fell 1.5% on month (vs +0.4% expected) but rose 2.0% on year (vs +6.6% expected) in December.



USD/JPY dropped 132 pips to 132.09.



AUD/USD increased 128 pips (+1.90%) to 0.6880.



USD/CHF fell 81 pips to 0.9281, and USD/CAD plunged 124 pips to 1.3446.



Bitcoin held firm at $16,900.

MARKET COMMENTARY




On Monday, U.S. stocks pared early gains to close mixed. The Dow Jones Industrial Average dropped 112 points (-0.34%) to 33,517, the S&P 500 dipped 2 points (-0.08%) to 3,892, while the Nasdaq 100 rose 68 points (+0.62%) to 11,108.



Automobiles (+4.12%), semiconductors (+1.78%), and software & services (+1.22%) sectors gained the most, while pharmaceuticals & biotechnology (-2.2%), telecoms services (-1.67%), and insurance (-1.54%) sectors were under pressure.



Tesla (TSLA) rebounded a further 5.93%.



Uber Technologies (UBER) rose 3.79% as the stock was upgraded to "overweight" at Piper Sandler.



On the other hand, Lululemon Athletica (LULU) plunged 9.29% after the athletic apparel company lowered its fourth-quarter profit-margin guidance.



Also, Pfizer (PFE) slid 4.97%, Northrop Grumman (NOC) sank 4.99%, and Lockheed Martin (LMT) fell 3.01%.



The U.S. 10-year Treasury yield dropped 2.6 basis points to 3.532%



European stocks also close higher. The DAX 40 rose 1.25%, the CAC 40 added 0.68%, and the FTSE 100 gained 0.33%.



U.S. WTI crude futures added $1.1 to $74.83 a barrel.



Gold price increased $5 to $1,871 an ounce.







The U.S. dollar weakened further against other major currencies, as Fed fund futures showed that investors expect the Federal Reserve to further lower its interest-rate increase extent to 25 basis points in February.



The dollar index declined to 103.20.



EUR/USD added 88 pips to 1.0732, a 7-month high. Germany's data showed that industrial production grew 0.2% on month in November (vs +0.3% expected).



GBP/USD increased 89 pips to 1.2182.



USD/JPY slid 20 pips to 131.88. This morning, Japan's data showed that household spending declined 0.9% on month in November (vs -0.8% expected), and Tokyo's inflation rate increased to 4.0% on year in December (vs +3.9% expected).



AUD/USD increased 33 pips to 0.6910.



USD/CHF declined 64 pips to 0.9215, and USD/CAD was down 55 pips to 1.3389.



Bitcoin regained the $17,000 level trading higher to $17,200.

MARKET COMMENTARY




On Tuesday, U.S. stocks closed higher. The Dow Jones Industrial Average rose 186 points (+0.56%) to 33,704, the S&P 500 increased 27 points (+0.70%) to 3,919, and the Nasdaq 100 gained 97 points (+0.88%) to 11,205.



Investors were relieved to see that Federal Reserve Chair Jerome Powell avoided commenting on interest rates in his first speech in 2023.



Retailing (+1.74%), telecoms services (+1.53%), and semiconductors (+1.26%) sectors gained the most.



Coinbase Global (COIN) surged 12.96% after the crypto-currency exchange announced plans to cut 950 employees.



Amazon.com (AMZN) rose 2.87%. The company said that it will shut down three warehouses in the U.K. this year.



NetFlix (NFLX) gained 3.92%. Goldman Sachs raised its price target on the stock to $225 from $220 while keeping a "sell" rating on it.



Jefferies Financial Group (JEF) climbed 3.76%. The financial services firm reported that fourth-quarter earnings fell 53% on year.



The U.S. 10-year Treasury yield rebounded 7.7 basis points to 3.610%.



Regarding U.S. economic data, wholesale inventories increased 1.0% on month in November (vs expected).



European stocks closed lower. The DAX 40 declined 0.12%, the CAC 40 fell 0.55%, and the FTSE 100 was down 0.39%.



U.S. WTI crude futures settled flat at $74.87 a barrel.



Gold price advanced a further $5 to $1,877 an ounce.







The U.S. dollar was stable against other major currencies. The dollar index climbed to 103.27.



EUR/USD added 5 pips to 1.0735. France's industrial production grew 2.0% on month in November (vs +0.6% expected).



GBP/USD dropped 32 pips to 1.2152.



USD/JPY climbed 38 pips to 132.26.



AUD/USD declined 20 pips to 0.6892. This morning, Australia's data showed that the inflation rate rose to 7.4% on year in November (vs +7.5% expected), and retail sales grew 1.4% on month in November (vs +0.3% expected).



USD/CHF gained 17 pips to 0.9230, and USD/CAD rose 37 pips to 1.3426.



Bitcoin remained firm and traded higher to $17,460.