{"id":46925,"date":"2023-06-22T17:26:00","date_gmt":"2023-06-22T16:26:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=46925"},"modified":"2023-06-22T21:57:14","modified_gmt":"2023-06-22T20:57:14","slug":"market-wrap-market-mood-swings","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-market-mood-swings\/","title":{"rendered":"Market Wrap &#8211; Market Mood Swings"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"46925\" class=\"elementor elementor-46925\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8c93947 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8c93947\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-be8d5b9\" data-id=\"be8d5b9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8083096 elementor-widget elementor-widget-text-editor\" data-id=\"8083096\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The market mood on <a href=\"https:\/\/bit.ly\/43JtOpf\" target=\"_blank\" rel=\"noopener\">Wall Street <\/a>remained volatile as US equity market swung wildly, with the <a href=\"https:\/\/bit.ly\/444tl0S\" target=\"_blank\" rel=\"noopener\">Nasdaq<\/a> opening heavily in the red and then surging by over 100 points.<\/p><p>Fed Chair delivered his testimony for the second day and said that \u201c<em>We expect the labour market to gradually cool<\/em>\u201d and he \u201c<em>Also expect inflation to move down this year.<\/em>\u201d<\/p><p>He Repeated that strong majority of committee believes two more rate hikes before year end and that the \u201c<em>Decisions last week was to move more slowly<\/em>\u201d.<\/p><p>On inflation he noted during his drilling before US congress that he \u201c<em>Will do what it takes to get inflation down to 2% over time<\/em>\u201d. This further hinted at more hikes to comes.<\/p><p>On the jobs front the number of Americans filing for unemployment benefits were at 264,000 on the week ending June 17th, above market expectations to match the prior week\u2019s upwardly revised value, the highest since October 2021.<\/p><p>The result aligned with other recent data that reflects some softening in the US labour market after a prolonged period of stubborn tightness, as US businesses start to feel the impact of the Federal Reserve\u2019s aggressive tightening campaign.<\/p><p>The four-week moving average, which removes week-to-week volatility, rose by 8,500 to 255,750. On a seasonally unadjusted basis, claims fell by 1,237 to 250,03<\/p><p>Existing home sales in the US, which include completed transactions of single-family homes, town homes, condominiums, and co-ops, edged 2.3% higher from the previous month to a seasonally adjusted annual rate of 4.3 million in May of 2023, surpassing market estimates of 4.25 million.\u00a0<\/p><p>NAR Chief Economist Lawrence Yun said, &#8220;<em>Mortgage rates heavily influence the direction of home sales,<\/em>&#8221; and &#8220;<em>Relatively steady rates have led to several consecutive months of consistent home sales.<\/em>&#8221;\u00a0<\/p><p>Earlier today the Bank of England hiked rate and The Swiss National Bank raised its policy interest rate by 0.25 percentage points to 1.75 percent during its June meeting and signalled the possibility of further rate hikes in the future to ensure price stability over the medium term.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The market mood on Wall Street remained volatile as US equity market swung wildly, with the Nasdaq opening heavily in the red and then surging by over 100 points. Fed Chair delivered his testimony for the second day and said that \u201cWe expect the labour market to gradually cool\u201d and he \u201cAlso expect inflation to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":46927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[56,42,27,346,191],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Market Mood Swings - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-market-mood-swings\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Market Mood Swings Market Wrap - Market Mood Swings\" \/>\n<meta property=\"og:description\" content=\"The market mood on Wall Street remained volatile as US equity market swung wildly, with the Nasdaq opening heavily in the red and then surging by over 100 points.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-market-mood-swings\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-22T16:26:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-22T20:57:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/06\/gettyimages-157483234.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"517\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Market Mood Swings Market Wrap - Market Mood Swings\" \/>\n<meta name=\"twitter:description\" content=\"The market mood on Wall Street remained volatile as US equity market swung wildly, with the Nasdaq opening heavily in the red and then surging by over 100 points.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-market-mood-swings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-market-mood-swings\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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