US equities held their ground after the latest Federal Reserve meeting indicated that the central bank is ready to raise rates sooner and higher than previously expected, while Morgan Stanley referred to dotcom crash as they see tech stocks vulnerable, with strategists advocating for selling rallies. Investor focus turns to today’s jobs report with consensus standing at 400K vs. a previous of 210K.
Bitcoin at lowest level since September after the Wednesday’s Fed minutes release continues to weigh down on the crypto.
Oil climbed to a seven-week high on supply constraints as a deep freeze in Canada and in the northern US coupled with a decline in American stockpiles boosted bullish momentum with WTI Crude topping the $80 mark in early trade today.
Stock specific news:
DWAC back in the spotlight, climbing by nearly 20% in yesterday’s session after Reuters report said former President Donald Trump’s Trump Media & Technology Group is set to roll out its app Truth Social on February 21.
What to watch this end of week:
• U.S. employment data Friday
• Fed’s Daly discusses monetary policy on a panel Friday
• ECB’s Schnabel speaks on a panel Saturday