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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Beat the Street: indices expected down as evidence builds for a hawkish Fed

While it is good news that the US economy remains strong, today’s PCE data added to Thursday’s strong GDP to suggest the Fed will feel hawkish going into next week’s rate meeting. Jeremy Naylor has the details.

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(Video Transcript Summary)

US investors await PCE data

In this video, host Jeremy Naylor talks about the latest news and trends in the market. He mentions that US personal consumption expenditure (PCE) data is due, and the value of the US dollar is going up.

Jeremy also focuses on the oil industry, giving examples of how Exxon Mobil and Chevron are performing in the market. He then discusses how Ford is facing some difficulties due to a strike, which has resulted in disappointing earnings.

Jeremy also talks about economic data, specifically core PCE prices, and explains that they were close to what people were expecting. He goes on to analyse the performance of the US dollar and how it is affecting different markets.

To explain this, he shows some charts of the dollar's value compared to the euro and yen. He also mentions that the rise of the dollar has impacted the euro and the British pound negatively, but it has not affected the value of gold, which is staying strong with a price target of $2,000.

Wall Street takes a dive

Moving on to stocks, Exxon Mobil's shares have gone up because of their positive earnings and increased dividend. However, Chevron is facing some pressure due to disappointing figures and concerns about the acquisition of Hess Corp. Amazon and Intel have had good results, but Ford is struggling with a decline in its share price.

Looking at the overall trends in the market on the Dow Jones, S&P 500 and NASDAQ, the market is facing losses and consolidating at lower levels, which is causing concern about the future of interest rates. To wrap things up, Jeremy says the current trading session has a mix of positive and negative stocks, but the overall sentiment is negative for Wall Street.

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