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[Belgrade Bobby]

Nasdaq 100 – NDX

Wall St mixed in choppy trade as PPI data keeps smaller rate cut in view
August producer prices slightly above estimates

Moderna tumbles after dour FY25 revenue forecast

Indexes: Dow down 0.13%, S&P 500 up 0.18%, Nasdaq up 0.43%

Wall Street’s main indexes were mixed in choppy trading on Thursday after higher-than-expected producer prices data kept a smaller 25-basis point rate cut by the Fed firmly on the table, while Moderna slumped following a downbeat revenue forecast.

[Belgrade Bobby]

S&P 500 – SPX

US Equity Indexes Rise as Market Prices in Gradual Monetary Policy Easing Following Hot Inflation Print
The S&P 500 index rose 0.7% to 5,590.2

The US Producer Price Index grew 0.2% month-over-month in August following a flat reading in July, the Bureau of Labor Statistics said Thursday, faster than the 0.1% gain expected in a survey compiled by Bloomberg. Excluding food and energy prices, core PPI climbed 0.3%, above the 0.2% gain expected and a 0.2% decline in the previous month.

On a year-over-year basis, PPI was up 1.7% in August versus a 2.1% growth in the previous month. However, the rate for PPI excluding only food and energy accelerated modestly to 2.4% from 2.3%, and the rate for PPI excluding food, energy, and trade services advanced to 3.3% from 3.2%.

 

[Belgrade Bobby]

Nvidia – NVDA

Nvidia’s stock extends gains: ‘The time to worry is clearly not now’

Nvidia Most Active Stock in S&P 500 and Nasdaq 100 So Far Today
Would be highest close since Aug. 28, 2024, when it closed at $125.61

Currently up five of the past six days

Currently up four consecutive days; up 16.76% over this period

Longest winning streak since Aug. 19, 2024, when it rose for six straight trading days

Best four-day stretch since the four days ending Aug. 15, 2024, when it rose 17.29%

Up 0.58% month-to-date

Up 142.44% year-to-date

Down 11.45% from its all-time closing high of $135.58 on June 18, 2024

Up 163.4% from 52 weeks ago (Sept. 14, 2023), when it closed at $45.58

[GVI Forex 2]

EURUUSD through 1.1055

Now 1.1050 needs to become support to keep the bid.

[GVI Forex 2]

SF, note EURUSD 1.1055 iS resistance

Otherwise, stocks are up, bond yields are up, risk on mood

[SF Monedge]

DX finally back in the 101.40’s.  Only a matter of time now.  If you own Euro’s you may not be happy later.

[SF Monedge]

I don’t find it advisable to become overly enthusiastic about this subtle EuroUsd buying.  There will be a reaction to the EU rate cut and the other very concerning economic data of which Christine Lagarde was speaking today.  This pair is going down, the move is only taking a bit to develop.

[GVI Forex 2]

GBPUSD continues its rebound off 1.30 while EURUSD follows with a lag.
‘
Key resistance is at 1.3111.

[GVI Forex 2]

AUDUSD 4 HOUR CHART – Momentum builder?

Break of .6689 needs to hold to give it a strong bid that would then need take out the trendline to put the key .6767 high in play.

Look for a bid otherwise while above .6656.

[GVI Forex 2]

It’s all about GOLD today (last at 2552)… when in unchartered territory, in this case on the upside, the most recent high becomes the only key level

[GVI Forex 2]

EURUSD paused above 1.10 but remains below 1.1050-55

GBPUSD found support at 1.30 but is still below its 1.3087 breakdown level

USDJPY set a new low at 140.70 and then bounced… 142 is its current bias setter

Stocks staged a nice rebound led by tech… my focus is on US500 5500 as its pivotal level but 5600+ would be needed to suggest more legs to this rebound.

XAUUSD sets new record high,.. close vs old 2531 high is important

What stands out to me is EURUSD and GBPUSD finding support above key pivotal levels \

All of this as we wait for the next key event => the FOMC

[SF Monedge]

Hi AB, good to see you again, hope everything is going wonderfully for you.

[SF Monedge]

Finished with the long side of UsdJpy for now and back on the sell side in a bit and already on the sell side of EU

[michael Calif]

open posts:   Gold will generate lower prices while completing this current Time vibration.    :gtwo3

[Ab hk]

Last reminder,

next Tue is mid-autumn, full moon and FOMC….. rare coincidence.

[GVI Forex 2]

Hi AB, goog to see you.

Can you explain the relationship between Gold and +stocks (Nasdaq).

I remember being told gold i more related to stocks than fx.

[Ab hk]

don’t pick tops though.

[Ab hk]

The concerted trading style of Japanese and American in the old days is what I always missed.
That 147 to 106….. in a month time?

[Ab hk]

Gold//

With China not buying, this baby has entered O/B and will be exited  big time when Nasdaq gives up…..

This stocks mkt needs some excuses to do its “predicted” job.

GL and GT.

[SF Monedge]

Competing EU and US announcements this morning simultaneously, with EU looking a bit fragile.

[Author]

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