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Friday, November 18, 2022

General US Market Update - Heatmap

General US Market Update - Heatmap

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Heatmap

The Heatmap from yesterday ( SP500 ) shows a mixed bag which is a result of a 'natural pullback' following a decent rally over the last period and some concerning FED news as listed below.

General Market Update

Stock Market Falls Following Cautious Comments From Fed Official
The stock market ended moderately lower Thursday, as the Fed suggested they will keep raising rates beyond most expectations to curb inflation .

Economic Data, Fed Comments, Treasury Yields

The Labor Department's initial unemployment claims fell to 222,000 vs. 225,000 in the previous week, meeting estimates and hinting at continued strength in the labor market. Housing starts and preliminary building permits for October came in above estimates, but still slowed compared with September.
The Fed said rate hikes have had limited effects on inflation so far and that more work has to be done. They also said that rates are not yet at a level that may be considered sufficiently restrictive.

Investors now place an 80% probability of a 50-basis-point rate hike at December's Fed meeting, down from an 85% chance a week ago.

The 10-year Treasury yield jumped to 3.77% Thursday, recovering a part of this week's slide.


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