{"id":544617,"date":"2022-03-13T03:49:27","date_gmt":"2022-03-13T03:49:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/another-week-of-losses-for-us-stocks-but-is-a-bit-of-good-news-on-the-horizon\/"},"modified":"2022-03-13T03:49:27","modified_gmt":"2022-03-13T03:49:27","slug":"another-week-of-losses-for-us-stocks-but-is-a-bit-of-good-news-on-the-horizon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/another-week-of-losses-for-us-stocks-but-is-a-bit-of-good-news-on-the-horizon\/","title":{"rendered":"Another week of losses for US stocks, but is a bit of good news on the horizon?"},"content":{"rendered":"

<\/a> Stocks finished the week on a low <\/strong>after days of wild swings on the back of contradictory developments in Russia\u2019s war on Ukraine, the Wall Street Journal writes<\/a>. The S&P 500 closed down 2.9% for the week on Friday, while the tech-heavy Nasdaq dropped 3.5% \u2014 marking the fourth weekly loss in the past five weeks for the two major US indices. The Nasdaq has now lost 18% since the start of the year, as war in Europe and ongoing inflationary worries batter high-value stocks.<\/p>\n

Expect more volatility this week<\/strong>, as the Fed meets for its March policy meeting on Tuesday and Wednesday, the WSJ warns. Traders are overwhelmingly expecting the central bank to announce a quarter-point rate hike to kick off its tightening cycle in an attempt to curb decades-high inflation.<\/p>\n

A quick reminder on terminology: <\/strong>Stocks down 10% from a recent high is a \u201ccorrection.\u201d A sustained drop of 20% or more is the marker of a bear market.<\/p>\n

SOME RARE GOOD NEWS on the horizon for stocks?<\/strong> A quarter of a tn USD <\/strong>could flow from debt to equities by the end of March<\/strong>, the Financial Times writes<\/a>, as big institutional investors rebalance their portfolios ahead of end-of-quarter reporting requirements. US pension funds and sovereign wealth funds are among those expected to rebuild their positions in stocks to meet long-term allocation targets, in a move that should support stock markets that have been whipsawed by the war in Ukraine.<\/p>\n

MEANWHILE- Goldman Sachs has revised downwards its year-end target for the S&P 500 <\/strong>for the second t<\/strong>ime in less than a month<\/strong> in response to the commodities shock, Bloomberg<\/a> reports.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,454<\/p>\n<\/td>\n

\n

+0.4% (YTD: -12.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,684<\/p>\n<\/td>\n

\n

-0.4% (YTD: +12.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,636<\/p>\n<\/td>\n

\n

+0.3% (YTD: +13.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,402<\/p>\n<\/td>\n

\n

+0.6% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,204<\/p>\n<\/td>\n

\n

-1.3% (YTD: -11.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,116<\/p>\n<\/td>\n

\n

+0.8% (YTD: -3.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 112.67<\/p>\n<\/td>\n

\n

+3.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 4.72<\/p>\n<\/td>\n

\n

+2.0%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,985<\/p>\n<\/td>\n

\n

-0.8%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 39,093<\/p>\n<\/td>\n

\n

+0.5% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.4% at Thursday\u2019s close<\/strong> on turnover of EGP 996 mn (6.3% above the 90-day average). Foreign investors were net sellers. The index is down 12.5% YTD.<\/p>\n

In the green: <\/strong>Heliopolis Housing (+4.2%), Fawry (+2.8%) and Ezz Steel (+2.6%).<\/p>\n

In the red: <\/strong>Cleopatra Hospital (-3.0%), CIRA (-2.9%) and Sidi Kerir Petrochem (-2.4%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks finished the week on a low after days of wild swings on the back of contradictory developments in Russia\u2019s war on Ukraine, the Wall Street Journal writes. The S&P 500 closed down 2.9% for the week on Friday, while the tech-heavy Nasdaq dropped 3.5% \u2014 marking the fourth weekly loss in the past five […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,164,119,260,122,1341,1095,121,117],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544617","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-enterpriseam","tag-equities","tag-financial-markets","tag-goldman-sachs","tag-planet-finance","tag-russia-ukraine-conflict","tag-russia-ukraine-war","tag-sp-500","tag-us","wpautop","entry"],"acf":{"mongo_id":"05d246c6-c9bd-46fe-8714-4f4aea8e5389","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[544594],"teaser":"","voice_url":""},"yoast_head":"\nAnother week of losses for US stocks, but is a bit of good news on the horizon? - EnterpriseAM Egypt<\/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:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/another-week-of-losses-for-us-stocks-but-is-a-bit-of-good-news-on-the-horizon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another week of losses for US stocks, but is a bit of good news on the horizon?\" \/>\n<meta property=\"og:description\" content=\"Stocks finished the week on a low after days of wild swings on the back of contradictory developments in Russia\u2019s war on Ukraine, the Wall Street Journal writes. 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Brent crude futures settled at USD 94.44 a barrel on Friday as the threat of war in Ukraine pressured\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544762,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/20\/us-stocks-have-best-week-since-november-2020\/","url_meta":{"origin":544617,"position":1},"title":"US stocks have best week since November 2020","author":"enterpriseam admin","date":"20 March 2022","format":false,"excerpt":"US stocks had their best week since November 2020 last week following US-China talks on Ukraine and as the oil price rally slowed. Tech shares, which have endured one of their worst first quarters in years, saw large gains, with the Nasdaq rising more than 8% during the week. The\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544484,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/stocks-slip-as-investors-fret-over-ukraine-conflict\/","url_meta":{"origin":544617,"position":2},"title":"Stocks slip as investors fret over Ukraine conflict","author":"enterpriseam admin","date":"6 March 2022","format":false,"excerpt":"US stocks continued to slip on Friday on the back of the war, with the tech-heavy Nasdaq falling 1.7% and the S&P 500 slipping 0.8% in volatile trading, the Financial Times reports. Investors flocked from equities to safe haven assets including gold and government bonds. EGX30 11,306 +1.0% (YTD: -5.4%)\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548219,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/31\/bull-rally-or-bear-rally\/","url_meta":{"origin":544617,"position":3},"title":"Bull rally or bear rally?","author":"enterpriseam admin","date":"31 July 2022","format":false,"excerpt":"After chaotic 1H 2022, tech earnings drive US stocks\u2019 best performance in years: US stocks saw their best month since 2020 in July with S&P 500 gaining 9.1% and the Nasdaq jumping 12.3% as financial markets rebounded on better-than-expected tech earnings and ominous economic data that investors hope will force\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544675,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/15\/chinese-shares-suffer-biggest-sell-off-since-08-on-covid-ukraine-fears\/","url_meta":{"origin":544617,"position":4},"title":"Chinese shares suffer biggest sell-off since \u201808 on covid, Ukraine fears","author":"enterpriseam admin","date":"15 March 2022","format":false,"excerpt":"Chinese stocks see biggest sell-off since the 2008 recession: Hong Kong-listed Chinese stocks had their worst day since the global financial crisis, as Beijing\u2019s continued ties with Russia, regulatory concerns, and new covid-19 lockdowns sparked a panic selloff, Bloomberg reports. The Hang Seng China Enterprises Index closed down 7.2% in\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544822,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/22\/a-terrible-day-in-the-us-bond-market-as-powell-ups-the-ante-on-inflation\/","url_meta":{"origin":544617,"position":5},"title":"A terrible day in the US bond market as Powell ups the ante on inflation","author":"enterpriseam admin","date":"22 March 2022","format":false,"excerpt":"US treasuries experienced one of their biggest daily sell-offs in the past decade yesterday after Federal Reserve Chairman Jay Powell indicated that the central bank could hike interest rates more aggressively than expected, according to Bloomberg. Following last week\u2019s policy meeting, the market had already priced in a further six\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544617"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544617\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544594"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544617"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544617"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}