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The author will not be held responsible for information that is found at the end of links posted on this page. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. It also does not guarantee that this information is of a timely nature. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. You should do your own thorough research before making any investment decisions. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. The author is short Apple, Tesla, Bed Bath & Beyond and Twitter. Twitter (TWTR) is down 4% on rumors of a whistleblower. Tilray (TLRY) up on approval for CBD100 clinical trials in Australia and New Zealand. Warner Bros Discovery (WBD): Strong viewer numbers for Game of Thrones prequel House of the Dragon. Palo Alto Networks (PANW) up on strong guidance. US official says gaps remain between US and Iran on the deal.ĭicks Sporting Goods (DKS) beats estimates and boosts forecasts. US futures are mixed: S&P and Dow are flat and Nasdaq is +0.2% Wall Street top news (QQQ) (SPY) Again this morning energy prices in Europe are surging with fears that the Nordstream pipeline will not reopen after more maintenance.Įuropean futures are lower: Eurostoxx +0.2%, FTSE -0.1% and Dax -0.2% The dollar is the big story this morning as it once again goes on the rampage crushing the euro below parity and the dollar index hits $109.Ī strong dollar is not good for corporate profits. Bitcoin is at $21,400 and steady, while Gold is as ever steady at $1,736. Oil has stabilized somewhat this morning as the US and Iran are not it seems close to an agreement, so Iranian oil is no closer to the market. No sector was safe on Monday as energy lost ground despite OPEC+ hinting at supply cuts. Higher yields are not accommodative to higher equities, and so it proved. The sudden deterioration of the picture in Europe once again saw yields move higher, and this fed across the Atlantic to where Eurodollar futures are now back predicting a 4% fed funds rate by year-end. The recent risk aversion did expand with the main indices losing 2% or more on the back of growing fears of a hawkish Jackson Hole and rally fatigue. The meme stock massacre looked to be continuing on Monday as AMC Entertainment (AMC) stock opened with a 40% loss, but including the APE shares the combined holding closed higher on the day. Here is what you need to know on Tuesday, August 23:
