Applied Materials beats 🤖 Stocks up 📈 To Watch: USD💸 Oil🛢️ Earning: Foot Locker👟 Deere🚜

FlowBank's hand-curated fresh financial news [header_noDither] 19.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Applied materials inovation] Applied Materials, the biggest maker of machinery used to manufacture semiconductors, gave an upbeat sales forecast for the current period, saying it can weather the economic slowdown afflicting the industry. The outlook signals that the chip industry may be faring better than some had feared. The stock gained 1.7% in extended trading. [Start Trading](113/cXx8Z04/MWZ07JgM_PrW7Qn8Sq754ZFxW5NMkyh4NWcqcN7qyk_G2-MK5V1-WJV7CgC2zW91vJzd748zklVCP-mj3GNywtW33YRd86_YbxtVMnq7L2ggVrxW1dMXlS5qtK9_W3ksJHl8rrTysW29zWfR8mclQpW1F3XB61GYbBXW1_h01g3n6S1hW6_Sk401TmBdtW115xDx7X8HczW8RkzyF7f3csfW8NlC4K7scyyzW6L007N1tLZhFW2L5Z3z5Snp8ZW2x5hzY3JS7CRW1Q7ppY7NFcblW62BbD147gm8zW75gyXH2Djk9kW1bHVl-3zS0603gmt1) Trader's Corner In focus • The US dollar is gaining back momentum as Fed officials point to interest rates going higher for longer. EURUSD broke below 1.01. Will the bears try to retest a move below parity? • Oil prices are recently benefiting from bullish fundamentals. Tight supply together with a stronger US economy suggests demand could after all remain stronger than expected. Economic data • EU current account • German PPI • UK retail sales, net borrowing, GfK consumer confidence Earnings • Deere, Holmen • Vipshop, Foot Locker • Newcrest Mining Crypto • Ethereum rebounded some 2% on an improvement in risk sentiment and continuous enthusiasm from traders ahead of its Merge next month. • An analyst at JPMorgan commented that Coinbase (COIN) could experience a bigger revenue opportunity from its Ethereum staking service for institutions and benefit from Ethereum's long-awaited merge. [1908] [Start Trading](113/cXx8Z04/MWZ07JgM_PrW7Qn8Sq754ZFxW5NMkyh4NWcqcN7qyk_G2-MK5V1-WJV7CgN8fW9gR1Sz7l0dy8W2GN0zQ33PR6DW2MsFQJ1Fh5pVW1jZPkP7Sf1CHW7HXfm-6tqsZPW5y7_7G7fNz_zW8FcTbq66tqzyW34KtG44J0vTwW5MmkW_2XfyN3F3WM11ZVCJ4N6SP9L_1kCvjW2G65ds6XcZxZW9ky5r33bnF_WN2K6znplMgsBW6MGWMM3gjdzcW1rW3_07jzJlkW1FB6vy91CvBvW8jNcPv5LYBZGW7mgzy290cXQ5W1VCd0B9gK55h31GS1) Market Recap Stocks edged up but saw some volatility during the session as Fed officials gave mixed signals on rates. The energy sector was the top performer as oil prices soared following bullish comments from OPEC's General Secretary and strong US economic data. The US dollar appreciated against major peers on the back of stronger real yields while the pound lagged, acting as the weakest currency. The dollar strength also pushed gold to trade toward its lows of the month. This morning, futures contracts point to stocks declining 0.25% as the dollar strengthens on mixed signals of the likely path of rising interest rates. More encouraging disinflationary data will likely be needed to convince policymakers. Oil is down slightly, anchored around USD90pb. Chart Of The Day The S&P500 is seeing some profit-taking with the index edging closer to its technical support on the 50% Fibonacci retracement at 4'231. The 200-day moving average at around 4'325 also acted as significant short-term resistance. [S&P500 18.08.2022](113/cXx8Z04/MWZ07JgM_PrW7Qn8Sq754ZFxW5NMkyh4NWcqcN7qyk_m2-MJQV1-WJV7CgZg7W82_X_m5YB13KVcxCq227_s8HW1Rxq6W59v6JLW3THGRc5_pwL9W6LYz778z7kKvW4bf0zz8VyKRpW12FfpB6v6LFyW5QQlQD2vcDDcW2HSm9q7yzyR4Vjf6wr2_BvdZN6fYsP7g_Kq8W9lt4221qy3nKW2ld6ll6wJ94sW779JRJ6XR9_MW3pYBd8504C7zW1jtnsd87MzylW2YhxjF5-ShfxW8yF5xC8rXNQB3gD_1) FlowBank Blog The recent surge in Bitcoin – what does it mean? [Apple main](113/cXx8Z04/MWZ07JgM_PrW7Qn8Sq754ZFxW5NMkyh4NWcqcN7qyk_Z2-MKpV1-WJV7CgVdQW1QvPtt2092z2W42Pjlc3lhsh7N5DxNjshdjx_W6Pvdbm5CTMQrN30qyBS7TBMYW6gLSKW2zt284W4Yjkvn4J7pjrN8hNrPvd6QKSW13b1NN7cwYFKW2XHfzM6mlv7kW42xQ4V3zhjC3W3Yp_rc90zyR7W8HYBRZ3stMnFW8m4L3s4W1y5MW1DxW9j3zTqqpW3bccJY48Xyr2W6_KD8L5RMwSNW13m76473RhKcW25mlyw8msPV8W23nzfT1PSBVsW98kvsk5mqsSJW2t0Glb3cm4mh3hBc1) Despite the macro softness, Apple is showing resilience with new products launch acting as potential positive drivers for the stock. What are the new releases, and could innovations help drive the stock to new highs? 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