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S&P 500 Climbs as Tech Comeback Continues on Less Hawkish Powell

By Yasin Ebrahim AiVIF.com – The S&P 500 steadied Tuesday as tech continued its rebound as U.S. bond yields edged lower after Federal Reserve Chairman Jerome Powell delivered...
S&P 500 Climbs as Tech Comeback Continues on Less Hawkish Powell © Reuters.

By Yasin Ebrahim

AiVIF.com – The S&P 500 steadied Tuesday as tech continued its rebound as U.S. bond yields edged lower after Federal Reserve Chairman Jerome Powell delivered less hawkish than expected remarks, soothing fears of aggressive Fed policy tightening.

The S&P 500 rose 0.8%, the Dow Jones Industrial Average gained 0.5%, or 185 points, the Nasdaq added 1.3%.

Powell confirmed the Fed plans to begin normalizing policy including ending bond purchases, hiking rates, and letting bonds on its balance sheet mature later this year.

“I would expect that this year 2022 will be the year in which we take steps toward normalization [of monetary policy],” Powell said.

That would involve “ending asset purchases in March, raising rates over the course of the year  … and “perhaps later this year, we will start to allow the balance sheet to run off.”

Surging Treasury yields, which had weighed on growth sectors of the market like tech, took a breather, supported the rebound in tech pushing the broader market higher.

Meta Platforms (NASDAQ:FB), formerly know as Facebook, Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), which make up about a quarter of the S&P 500.

The recent pullback in tech was linked to “to the fear of a Fed being more hawkish and more aggressive in its policies going forward … but Powell calm the markets in his hearing,”  Darren Schuringa, CEO of ASYMmetric ETFs said in an interview with AiVIF.com on Tuesday.

“The most powerful lever the Fed has to pull on right now is starting to shrink its balance sheet by selling bonds,” Schuringa added. "But Powell backed away that saying we're going to let our balance sheet roll off … that’s not as disruptive in the market as selling bonds."

Semiconductors continued to pare recent losses, up nearly 2%, following a 5% jump in Advanced Micro Devices (NASDAQ:AMD) after KeyBanc upgraded its rating on the stock to overweight from sector weight, citing cloud data center growth in 2022.

Energy was also among the top gainers on the day, as oil prices moved higher on expectations that the demand impact from the omicron impact may not be as severe as initially feared.

Occidental Petroleum (NYSE:OXY), Hess (NYSE:HES) and APA (NASDAQ:APA), led the energy sector move higher, with the latter up more than 8%.

In a potential sign of renewed appetite for risk assets, defensive corners of the market such as utilities and consumer staples were on the back foot.

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18-01-2022 12:26:15 (UTC+7)

EUR/USD

1.1332

-0.0075 (-0.66%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (0)

EUR/USD

1.1332

-0.0075 (-0.66%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (0)

GBP/USD

1.3584

-0.0062 (-0.45%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

USD/JPY

114.55

-0.05 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.7179

-0.0031 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

USD/CAD

1.2549

+0.0030 (+0.24%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

EUR/JPY

129.82

-0.90 (-0.69%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (5)

EUR/CHF

1.0387

-0.0037 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Gold Futures

1,814.25

-2.25 (-0.12%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.473

+0.555 (+2.42%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (7)

Copper Futures

4.3908

-0.0297 (-0.67%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

Crude Oil WTI Futures

84.23

+0.93 (+1.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Brent Oil Futures

86.90

+0.42 (+0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Natural Gas Futures

4.292

+0.030 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

239.90

+0.25 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Euro Stoxx 50

4,257.82

-44.32 (-1.03%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,583.50

-79.35 (-1.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

DAX

15,772.56

-161.16 (-1.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

FTSE 100

7,563.55

-47.68 (-0.63%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

24,112.78

-105.25 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,108.70

-52.85 (-2.45%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (1)

IBEX 35

8,781.60

-57.10 (-0.65%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

BASF SE NA O.N.

67.660

-0.480 (-0.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Bayer AG NA

52.06

-0.76 (-1.44%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Allianz SE VNA O.N.

225.95

-1.10 (-0.48%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Adidas AG

254.20

+1.55 (+0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

7.129

-0.112 (-1.55%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (4)

Siemens AG Class N

142.60

-3.40 (-2.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Bank AG

11.926

-0.092 (-0.77%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1332↑ Buy
 GBP/USD1.3584Neutral
 USD/JPY114.55↑ Sell
 AUD/USD0.7179↑ Sell
 USD/CAD1.2549Buy
 EUR/JPY129.82Sell
 EUR/CHF1.0387↑ Sell
 Gold1,814.25↑ Buy
 Silver23.473↑ Sell
 Copper4.3908↑ Sell
 Crude Oil WTI84.23↑ Sell
 Brent Oil86.90↑ Sell
 Natural Gas4.292↑ Sell
 US Coffee C239.90↑ Buy
 Euro Stoxx 504,257.82↑ Sell
 S&P 5004,583.50↑ Sell
 DAX15,772.56↑ Sell
 FTSE 1007,563.55↑ Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,108.70Neutral
 IBEX 358,781.60↑ Sell
 BASF67.660↑ Sell
 Bayer52.06Neutral
 Allianz225.95↑ Sell
 Adidas254.20↑ Sell
 Lufthansa7.129↑ Sell
 Siemens AG142.60↑ Sell
 Deutsche Bank AG11.926↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(0/ 0) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
Cập nhật 18-01-2022 12:26:17
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ↀ Giá vàng thế giới
$1,815.09-4.24-0.23%
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ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$84.86+0.530.63%
Brent$86.94+0.730.83%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.560,0022.870,00
EUR25.241,6226.656,50
GBP30.202,2531.491,85
JPY191,95203,20
KRW16,5120,11
Cập nhật lúc 18:54:36 18/01/2022
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