Stocks in the red but off their lows
|Tech stocks rally after the open
While still firmly in the red, the Magnificent 7 tech stocks have managed to rally off the lows. Having watched these stocks surge of late, it is understandable that many investors will be tempted to go dip buying. But an elevated fear index suggests that the selling is not done yet. Investors will be watching for Iran’s response to Israel’s actions, and in turn Israel’s response, which could add a very unpredictable element into the situation.
Calls for emergency Fed rate cut misplaced
2024 has been a quiet year for markets in terms of actual volatility, so today’s slump in the US feels much worse than it actually is when put into context. Already there are a number of commentators calling for emergency US rate cuts, but at the moment this is still a growth scare. If the latest job numbers are revised higher next month the picture may start to look very different. Besides, the Fed’s job isn’t to rescue investors from volatility.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.