- 8 June 2023
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
Wall Street finished mixed yesterday
Wednesday has been a negative day for the S&P 500 and the Nasdaq.
The negative movement has been driven by the fall of tech stocks and the Central Bank of Canada’s unexpected decision about interest rates.
In particular, GameStop lost 19%n its share price in extended trading, while its CEO has been replaced.
The investors’ sentiment is Extreme Greed, as indicated in the graph below:
Sentiment indicator – Fear & Greed Index
The market sentiment is 76, in “Extreme Greed” mode, up from the previous days.
Central Banks are raising rates
This week, the Canadian Central Bank and the Reserve Bank of Australia increased their interest rates surprisingly.
By doing so, the worries about stuck inflation above its target of 2% have risen.
Investors are now more cautious because the Federal Reserve could also keep rising interest rates.
The FED will meet on 14 June to decide the next monetary policy move, and the number of investors expecting another rate hike has increased (32, 2%) compared to the previous days. The majority of the investors (67,8%), however, are betting on a no-rate hike this time, so on a pause.
What to watch today
At 13:30 pm GMT, the weekly US initial jobless claims will be published.
It is expected to be at 235,000 up from the last week’s reading of 232,000.
Financial markets could be volatile today.
I remain neutral and cautious about the stock market.
I hold long and short stock positions and aim to profit regardless of the market direction.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Thank you, everyone. Have a nice day!
Steps to follow to copy my portfolio automatically:
2. Verify your account and make a deposit of at least 200 USD (you can deposit in any currency, like GBP and EUR)
3. Go to my profile page: https://federicamontella.com/go/etoro-passionforprofit/
4. Start the copy (copy open trades and set the lowest stop loss possible, to allow some movement)
5. Enjoy, it’s all automatic. You will make passive income 24/7
Let me know if you have any questions.
eToro Popular Investor