Wall Street has been volatile over the past week, with stocks slumping after Fed chairman Jerome Powell suggested further big interest rate hikes. Nevertheless, the market has been recovering since mid-October. Let’s check some exciting Assets To Trade This Week, November 7-11, 2022.
US Indexes
US indexes went up strongly by the end of the last week on optimistic non-farm payrolls. SPX500 climbed 1.45% on Friday, but it rebounded after four days of the sharp decline of 4.6%. The main story was yet another interest rate spike of 75 basis points, and even worse, a bearish statement from the Fed chairmen Jerome Powell, who hinted that the hawkish monetary policy is not to end anytime soon.
Assets To Trade This Week, November 7-11, 2022: SPX500
As for the macroeconomic events, on Thursday, we’ll get to know the US Consumer Price Index (CPI) for October. The forecast is a 0.7% increase month-to-month and 8% year-to-year. On Friday, the UK statistical office will publish the GDP for the Q3. The Bank of England estimates the gross domestic product shrank by 0.5%, which would bring the British economy close to recession. The UK equities and GBP forex pairs will be affected.
UKOIL
The oil prices exploded on Friday, hoping China could change its COVID-19 policy. The move could swift the global energy demand, and the traders exchanging commodity futures reacted immediately.
Brent crude oil soared 4.25% on Friday, November 4, from $95.81 to $100.04 per barrel. We will experience a massive fight between the bears and bulls around this critical resistance level that may soon become significant support.
Last week German Chancellor Olaf Scholz visited China and talked to Xi Jinping. During the meeting, he secured BioNTech/Pfizer vaccine access. Watch out for further news about the Chinese policy and react to the changing prices of oil.
Assets To Trade This Week, November 7-11, 2022: UKOIL
Activision Blizzard
The video game company has been on a downfall recently. The producer of Call of Duty, World of Warcraft, StarCraft, Diablo, Overwatch, and many other hits has lost 2.36% of its capitalization in the last three days of trading.
On Monday, November 7, the company will release its Q3 results. To add spice to the price action, Microsoft’s acquisition of Blizzard is looming. In January 2022, the Redmond-based company announced plans to buy the entertainment giant for a lavish price of $95 per share.
Analysts expect a $1.7 billion in revenue, which means a drop of 9% year to year. Blizzard is a money-making machine and an entertainment giant, so the price action could be massive.
Assets To Trade This Week, November 7-11, 2022: ATVI.US
Nasdaq 100
The tech industry index plummeted even deeper than S&P 500 and Dow Jones 30 Industrial. It decreased over 6% despite Friday’s pullback over the last week.
Many values and growth stocks are the components of the Nasdaq 100 that may bottom out anytime soon.
There are hundreds of assets to trade with SimpleFX, most of which will be affected by the news we mentioned above. Don’t miss out on stocks, indexes, commodities, currency pairs, and cryptos that could bring you substantial profit!
Assets To Trade This Week, November 7-11, 2022: NDX100
