- February 7, 2022
- Posted by: Stratford Team
- Category: Economy
In another volatile week for global market sentiment, Wall Street managed to close in the green, but not without giving up most gains. Nasdaq 100, S&P 500 and Dow Jones futures finished +1.41%, +1.39% and +0.99% respectively. This helped the VIX market ‘fear gauge’ drop 16%. European equities were mixed with Asia-Pacific markets faring better.
Fedspeak that helped cool odds of 5 rate hike bets this year earlier in the week was somewhat offset by January’s US jobs report. The world’s largest economy unexpectedly added 467k positions versus 125k seen as average hourly earnings surged 5.7% y/y versus 5.2% anticipated. Mixed earnings between key companies Meta and Amazon also resulted in wild market swings.
The US Dollar succumbed to selling pressure, although some losses were trimmed on Friday thanks to NFPs. The Euro and British Pound were notable standouts following more hawkish interest rate decisions from the ECB and BoE respectively. Demand…