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5 Keys This Tuesday On Wall Street By Investing.com

© Reuters

Por Geoffrey Smith

Investing.com – Chinese stock markets tumble after central bank tells banks to cut lending. The cryptocurrency universe has reached a valuation of 2 trillion dollars, thanks to the rise of the and the.

US stock markets are set to consolidate after Monday’s reopening trading pushed them to all-time highs. Swiss credit (SIX 🙂 sacks top managers after the Greensill and Archegos disasters, and oil prices rebound after the surprisingly large increase in production announced by OPEC and its allies.

Here are the top five issues to look out for this Tuesday, April 6, in the financial markets.

1. China stops bank loans

China’s central bank has asked the country’s major commercial banks to halt their lending after a credit surge in the first two months of the year, according to Bloomberg sources. The petition is Beijing’s latest attempt to curb borrowing, which rose last year as local authorities struggled to support growth during the first wave of the pandemic.

The news has brought down all the major stock indices in China on a day when most of the rest of the world is following in the wake of Wall Street to the upside. The is down 0.4% and the stock market growth index falls 0.7%.

2. Cryptocurrencies reach 2 trillion dollars

The market value of the cryptocurrency universe has reached $ 2 trillion for the first time, driven by a 35% surge in XRP to highs of more than three years.

Ether, whose blockchain is critical to a growing network of decentralized finance (DeFi) initiatives and applications that has also risen by more than 3% to all-time highs.

The events take place at a time when the craze for digital art, so-called non-expendable coins, appears to be subsiding. In addition, analysts at JPMorgan (NYSE 🙂 note that flow to has slowed to about $ 50 million a week from a more than 10-fold peak at the end of last year.

3. Stocks are pointing to a lower open; JOLTS, Redbook

US stocks point to a lower open on Tuesday, consolidating after rising to record highs on Monday, which was fueled by optimism about the prospects for the economy to pick up. That rebound was partly a widespread effect of Friday’s positive employment report, which indicated that the US economy created more than 900,000 jobs between mid-February and mid-March.

At 13:30 (CET), the {{8873 | Jones futures}} fell 32 points or 0.1%, while they fell 0.2% and fell 0.3%.

The employment report has drawn even more attention to the monthly survey on job vacancies, which will be released at 4:00 p.m. (CET). The Redbook report on the retail sector will also be released. Stocks likely to garner attention today include cruise operators Carnival (LON :), which is reporting pre-open results, and Norwegian (OL 🙂 Cruise Line, which asked US health authorities to approve the restart of the crossings on the 4th of July.

4. Heads roll at Credit Suisse

Credit Suisse bank has sacrificed top management in the wake of two twin flops that have cost it billions of dollars in the past month. It has also suspended its share buyback program and reduced its dividend by two-thirds.

The Swiss bank has said that the investment bank’s director, Brian Chin, and the director of Risk and Compliance, Lara Turner, will have to leave, along with several other lower-level executives.

Credit Suisse has said it believes they will lose $ 4.7 billion from their exposure to Archegos Capital Management, the family office of former hedge fund manager Bill Hwang. It also faces losses of around $ 1 billion from exposure to Greensill Bank, the supply chain finance specialist.

5. Oil spikes: talks with Iran, STEO

Crude prices extend gains on expectations that the US and Chinese economies will continue to drive a rebound in global demand.

Prices had fallen more than 4% as the market took in the news of an unexpectedly sharp rise in output from OPEC and its allies over the next three months.

At 1:15 p.m. (CET), the prices of the rose 2.3% to $ 60.00, while the futures of the point a rise of 2.1% to $ 63.47.

Attention will likely turn Tuesday to the (STEO) and the progress of the indirect talks in Vienna between the United States and Iran.

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