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S&P 500 Rides Tech, Energy Rally as Powell Soothes Tightening Fears

By Yasin Ebrahim AiVIF.com – The S&P 500 climbed Tuesday, led by energy and tech after U.S. bond yields fell following as less hawkish-than-expected from Federal Reserve...
S&P 500 Rides Tech, Energy Rally as Powell Soothes Tightening Fears © Reuters.

By Yasin Ebrahim

AiVIF.com – The S&P 500 climbed Tuesday, led by energy and tech after U.S. bond yields fell following as less hawkish-than-expected from Federal Reserve Chairman Jerome Powell calmed fears of aggressive Fed policy tightening.

The S&P 500 rose 0.9%, the Dow Jones Industrial Average gained 0.5%, or 183 points, the Nasdaq added 1.4%.

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.

The rally in the broader market comes a day ahead of the inflation report due Wednesday, the U.S. is expected to report its fastest pace of inflation since 1982.

"The risk to the market is to the downside ahead of inflation report because I think the probability is CPI comes in hotter than expected, according to Schuringa. "If inflation is much hotter,  there's going to be [renewed] pressure for the Fed to act."

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21-01-2022 03:07:03 (UTC+7)

EUR/USD

1.1333

+0.0023 (+0.20%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.1333

+0.0023 (+0.20%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.3569

-0.0026 (-0.19%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

USD/JPY

113.93

-0.15 (-0.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

AUD/USD

0.7199

-0.0027 (-0.37%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (1)

Sell (3)

USD/CAD

1.2515

+0.0014 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

129.13

+0.09 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

1.0366

+0.0002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Gold Futures

1,839.05

-3.55 (-0.19%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (6)

Sell (2)

Silver Futures

24.560

-0.156 (-0.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

Copper Futures

4.5365

-0.0460 (-1.00%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (7)

Crude Oil WTI Futures

84.20

-1.35 (-1.58%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

87.15

-1.23 (-1.39%)

Summary

↑ Sell

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Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Natural Gas Futures

3.931

+0.129 (+3.39%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

US Coffee C Futures

242.75

-1.70 (-0.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Euro Stoxx 50

4,247.05

-52.56 (-1.22%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

S&P 500

4,482.73

-50.03 (-1.10%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

DAX

15,727.60

-184.73 (-1.16%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (6)

FTSE 100

7,518.05

-66.96 (-0.88%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

Hang Seng

24,897.87

-54.48 (-0.22%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (1)

Sell (3)

US Small Cap 2000

2,024.04

-38.75 (-1.88%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (7)

IBEX 35

8,700.50

-114.10 (-1.29%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (7)

BASF SE NA O.N.

66.590

-0.850 (-1.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Bayer AG NA

52.47

-0.23 (-0.44%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (3)

Allianz SE VNA O.N.

222.45

-2.35 (-1.05%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

Adidas AG

253.68

-1.97 (-0.77%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Deutsche Lufthansa AG

6.947

-0.146 (-2.06%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (10)

Siemens AG Class N

146.16

-0.74 (-0.50%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Deutsche Bank AG

11.555

-0.121 (-1.04%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.1333↑ Buy
 GBP/USD1.3569↑ Sell
 USD/JPY113.93↑ Buy
 AUD/USD0.7199Neutral
 USD/CAD1.2515↑ Sell
 EUR/JPY129.13↑ Buy
 EUR/CHF1.0366↑ Sell
 Gold1,839.05Neutral
 Silver24.560↑ Buy
 Copper4.5365Sell
 Crude Oil WTI84.20↑ Sell
 Brent Oil87.15↑ Sell
 Natural Gas3.931↑ Buy
 US Coffee C242.75↑ Sell
 Euro Stoxx 504,247.05↑ Sell
 S&P 5004,482.73↑ Sell
 DAX15,727.60↑ Sell
 FTSE 1007,518.05↑ Sell
 Hang Seng24,897.87Neutral
 Small Cap 20002,024.04↑ Sell
 IBEX 358,700.50↑ Sell
 BASF66.590↑ Buy
 Bayer52.47Neutral
 Allianz222.45↑ Buy
 Adidas253.68↑ Sell
 Lufthansa6.947↑ Sell
 Siemens AG146.16↑ Buy
 Deutsche Bank AG11.555Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,125/ 6,165
(10/ 10) # 1,125
SJC HCM6,120/ 6,180
(10/ 10) # 1,141
SJC Hanoi6,120/ 6,182
(10/ 10) # 1,143
SJC Danang6,120/ 6,182
(10/ 10) # 1,143
SJC Nhatrang6,120/ 6,182
(10/ 10) # 1,143
SJC Cantho6,120/ 6,182
(10/ 10) # 1,143
Cập nhật 21-01-2022 03:07:06
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ↀ Giá vàng thế giới
$1,837.72-1.36-0.07%
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ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2437024850
RON 95-II,III
E5 RON 92-II2315023610
DO 0.05S1823018590
DO 0,001S-V1858018950
Dầu hỏa1713017470
ↂ Giá dầu thô thế giới
WTI$84.00+1.682.00%
Brent$86.96+1.171.34%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.450,0022.760,00
EUR24.965,0926.364,70
GBP29.963,4031.243,06
JPY192,94204,24
KRW16,3919,97
Cập nhật lúc 14:59:54 21/01/2022
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