Walmart surges 👍 Stocks advance 📈 To watch: FOMC minutes, retailers, indices 🎢 Earning: Cisco, Target 🛍️

FlowBank's hand-curated fresh financial news [header_noDither] 17.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_1643463436] Walmart topped analysts' expectations for earnings and revenue, but profits tightened as inflation pushed consumers from buying less high-margin discretionary merchandise like apparel to buying more necessities. Walmart reiterated its outlook for the second half of the year. [Start Trading](113/cXx8Z04/VX5J-f3s8D09W5Q4CTF1g9yjlW5d86_w4NQXlQN4KxWLZ2-MK5V1-WJV7CgG4YN93QsgQWby_8W6y3TST9d6FVlVqQGyj1RVWnVW6GdRg395mDtpW47Hw-S6YJ45hW4ztHsz6DkCWJW40KPbf6Ytt1yW1XDwF03yCMycW7L6Fg_6l1sz7W7QfFk93FjFzJN8w6YLYrj38RW28398q8TM2LrVyB3mj4z-wVXW79Ld9K3l67KlW858_Vw3wPMJFW4Ww2M764yfrxW6pZ1BF2jYrP6VyzhJh7NcnTjW2z12pV64m77fW7_1xgM7C_fkZ3kc-1) Trader's Corner In focus • Clues on how sensitive the Fed is to unfolding economic data may be known when the minutes of the last meeting of the Federal Open Market Committee are released later this afternoon. • Investors rewarded Walmart (+5%) and Home Depot (+4%)'s efforts in reducing excess inventory. Markets will scrutinize inventory management from other big retailers like Target and Lowe's which are set to release earnings pre-market. • The S&P pulled back slightly after hitting its 200-day moving average, with short sellers challenging the upward momentum. Volatility could be back today. Economic data • FOMC meeting minutes, retail sales, inventories • Eurozone GDP • UK CPI • US crude oil inventories Earnings • Cisco, Lowe's, Target, TJX • Analog Devices, Synopsys • Keysight Technologies, Amcor • Bath & Body Works • HKEX, Tencent Crypto • Bitcoin fell for the third day in a row, falling below USD24K at one point. Sentiment is impacted by recent bankruptcy news from crypto lenders. • Public miners are still dumping their Bitcoin holdings at a higher rate than their production rate. Public miners sold 6'200 coins in July, making July the second highest BTC selling month in 2022. [Table 17.08.2022] [Start Trading](113/cXx8Z04/VX5J-f3s8D09W5Q4CTF1g9yjlW5d86_w4NQXlQN4KxWLZ2-MK5V1-WJV7CgVX9W2btHg28-XpgBN4L1m4zXbdWMW6dQH-M3l4GXVW2HF4rj1f1J8FW4F8CzQ3c_Y9fW8wzlPg1-qyT5W8yxr267ZHZ89W65tlMW49vc6nW2nxg7147Fn-vN2DTFvhZtd9fW7_hlnv1vS7TGW32bwDp6VzHQ4W6pwzpx7DKdjPW4BdLjC6C_Bm1N4QsND-9R5pWW1rKWxJ5_bb2hW42b-rv5QX2RzN5lZbWH-DMH8W6X_Wjk7GvQ9qW3dbbyZ4CxGbS345Q1) Market Recap European markets rose on improving sentiment. Delivery Hero climbed 5.4% on an optimistic outlook. In Australia, BHP Group posted a larger-than-expected 26% rise in annual earnings on the back of higher coal and other commodities prices. In the US, defensive sectors like utilities and consumer staple stocks continued to outperform the broader market. The dollar was mixed despite yields on short-term treasuries advancing. Oil extended losses falling below USD87pb on demand concerns and hopes of an Iran deal. This morning, stocks are rising in Asia amid speculation China may do more stimulus. Futures point to European stocks opening up 0.5%, while US stocks are steady ahead of the Fed minutes and more retail earnings. Chart Of The Day Positioning on S&P500 net non-commercial futures shows investors are almost the most bearish since March 2020. Investors have been increasing their bets against the S&P500, just as the index rallied 17% from its lows in mid-June. [Net short 16.08.2022](113/cXx8Z04/VX5J-f3s8D09W5Q4CTF1g9yjlW5d86_w4NQXlQN4KxWLG2-MJQV1-WJV7CgK7wW6P_Tv31rGQ47W1nWvDG5q7H-5N6K8JZQkMxwTW1Dgt1M4M3MFnW6C5TZX348H31VNLpqJ1xYXq_VJvW2r5d5r4YW6RrNHk20DLnbW4H8q6g297w-CW3g7FbD3n2Q9ZW6XyKPZ8rm4kWW73NfX47XGm9lW3HwvkS65Pwj9W3bkpPq319_w4W1x6k8l3P6h1SN2n43x8pFGb0W6zfw-r5ZkFhVVM9Ss23zBrQ1314h1) FlowBank Blog The recent surge in Bitcoin – what does it mean? [shutterstock_1945704331](113/cXx8Z04/VX5J-f3s8D09W5Q4CTF1g9yjlW5d86_w4NQXlQN4KxWMf2-MKpV1-WJV7CgJsQW2ScN0S2myFjMW2BXvZ95_dSTHW8m7X4P79F3XLW13WNcT6dNZ7JW6kY-q26cKlQjW8FNQ_z6sgc-3W28-bMf9kVPHLW36Pt2K39XsCCW8Q_NhB9fgQ8KW2cVzPt6SzNwQMMr7jj84FkTW8NSCC54XN5ZWV-Lvvk3XtCFhW6FkYWC5YZZ2cW1X6Q9G40W3MjW6xc-X197XjhkW32x_WM3DqgSSW6QsLhv1DyTN5W3Hd7vR3F5X6PW14z3jg6KQQHfW5RKsRp6cvPpPW1Hs80K2HDy-T3nMN1) In the last couple of weeks, Bitcoin has been steadily rising in price, with the token at one point briefly moving above USD25'000, its highest over the past two months and up over 40% from its June lows. This begs the question: have we seen the bottom of this downward trend? 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