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Ed Moya – Is The Optimism And Bounce In Many Markets Justified And Here To Stay?

Shad Marquitz
January 23, 2023

Ed Moya, Senior Market Analyst at OANDA, joins us to review the continued bounce in most markets, despite a great deal of economic data continuing to be weak, including some recent earnings reports, and thus it is causing many economists to still be concerned about a recession and economic slowdown. We review the upward trends in a number of sectors from US general equities, with the tech sector leading the way again, to the cryptos, commodities, and precious metals.

 

There seems to be a risk-on attitude and bullish sentiment in the markets, despite many of the economic red flags, and for now investors are still piling into the rally that has been going on the last few months.   It’s a very different year so far than last year with more investor enthusiasm and complacency with regards to the poor economic backdrop. The question remains of whether this surge higher is justified and if the bull market is here to stay?

 

 

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Click here to visit the OANDA website to follow along with Ed’s daily market note.

Discussion
1 Comment
    Jan 23, 2023 23:16 PM

    Wall Street Rises As Chipmakers Lead Tech Shares Higher

    Reuters – Shreyashi Sanyal – Jan 23, 2023

    “U.S. stock indexes rose on Monday as gains in shares of chipmakers helped ease pressure on the battered technology sector at the start of another big week for corporate earnings.”

    “Investors are eyeing results from Microsoft Corp (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) Inc, IBM (NYSE:IBM) and Intel (NASDAQ:INTC) this week to see how their business are coping with the threat of an economic slowdown triggered by the Federal Reserve’s aggressive policy tightening.”

    “Qualcomm (NASDAQ:QCOM) Inc and Advanced Micro Devices (NASDAQ:AMD) Inc climbed 4.5% and 7%, respectively, after Barclays (LON:BARC) upgraded their stocks to “overweight” from “equal-weight”. Western Digital Corp (NASDAQ:WDC) jumped 6% on a report that the memory chipmaker could merge with Japan’s Kioxia Holdings.”

    “Those gains helped the Philadelphia SE Semiconductor Index add 2.9% and hit a one-month high. ”

    https://www.investing.com/news/economy/futures-subdued-with-earnings-in-full-swing-salesforce-up-on-elliot-stake-2985787

    Reply

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