8 minutes ago
Traders look forward to Fed minutes
The Federal Reserve publication from January 31st to February 2nd. 1 Minutes could be a market-moving event this week as traders continue to look for clues on the central bank’s next policy moves.
The minutes are to be published on Wednesday at 2:00 p.m. At that meeting, the central bank hiked rates by 25 basis points, noting that it expects “continued” hikes.
Last week St. Louis Fed President James Bullard said a 50 basis point rate hike at the next meeting could not be ruled out. He also said he had spoken out in favor of such a rate hike at the recent meeting.
—Fred Imbert
23 minutes ago
Tech stocks are seeing a lot of shorting, says Goldman Sachs
Many of the traders who were short tech are liquidating those positions, Goldman Sachs said.
Bank strategists noted that buying of US technology stocks over the past 12 trading days was mainly driven by short covering “and to a much lesser extent long buying”.
“On a nominal cumulative basis, short coverage in US tech stocks from Jan. 31 to Feb. 15 is the second largest in any 12-day period in the past decade and is in the 99.5th percentile,” Goldman said.
– Fred Imbert, Michael Bloom
32 minutes ago
Stock futures open lower
US stock futures got off to a rocky start Monday night. Dow and S&P 500 futures lost 0.3% and 0.2%, respectively. Nasdaq 100 futures were also down 0.2%.
—Fred Imbert