Good news from Taiwan backs chip rally as focus shifts to US CPI | MarketTalk: What’s up today? | Swissquote

Show notes

The S&P500 and Nasdaq renewed record as bonds remained bid and US dollar soft after Federal Reserve (Fed) Chair Powell’s semiannual testimony and ahead of today’s US CPI update.
Technology stocks led gains on encouraging news from Taiwan, Apple rallied nearly 1.9% on optimistic iPhone sales forecast, US crude jumped after tipping a toe below the $81pb yesterday as the latest EIA data showed a 3.4-mio barrel fall in US oil inventories last week and as OPEC revised its global economic growth forecast slightly higher to 2.9%.
A set of data above expectations could slow down the doves and call for a correction in both equity and bond markets into the weekend. Figures in line, or ideally softer-than-expected - if also combined with soft weekly jobless claims - should keep the Fed doves in charge of the market, further boost appetite for bonds and pressure yields and the US dollar to the downside and give a further support to the equity rally.
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