Foot Locker surprises👟This week: FOMC minutes🔮 PMIs x Oil🚦Earnings: HP, Dell, Best Buy, Dollar Tree 🛍️

FlowBank's hand-curated fresh financial news [View in browser](113/cXx8Z04/VX44Yn4WwGvnW1z0MVN8sWnl2W91lZlN4SDN4wN63y6n54ZjcBV3Zsc37Cgz-JW7M0z1Z5phn16W5pCpnp8N3YDXW4C-96h2Nw8sNVDMhMJ4HghZdW1FfgKH40bcf_W3QM-Rw50VlzhW83zJj83jJc_YW7J5g8c43TfflW9dMFJx4-4_jNV_X6mS30WsXnW7y-4bv8Vsl45W7wtb2m7gVpHLN3LbRQ4wR_7jW12tqkc3JpkmfW5YvFjt8SdtFzW8fhSSQ46rgBwW6mFVH37-S60qW4n3ql15kf63_W1_jtnT1zXNBsW6rGGXH1LrSxPW8d__qp6lxTJCW4BCDnT62Bd8zVLDlKH8sSZgfW3tzqcQ21rvQZW8lCbtr7hcFS9W6RVcXs1d99j2V-rbZc3vtJS_W3c3d_H8njyktW207dhx6hy_9pW6T9jHk77rB0NW8BJVKt79Qv80W8tdnCT4DxcR-N80VnK5c_mC6W3w4xNM5f6-8TW2_DMBL7q4QNMW1PxNWR4ccnnZVbCsTK1YFTNwW25mlyP7gtpr834QP1) [header_noDither] 21.11.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_1142059259] Foot Locker shares soared 8.5% Friday after beating top and bottom line estimates for its latest quarter, indicating solid consumer demand despite inflation pressures. The apparel and footwear retailer also raised its full-year forecast and reported an unexpected rise in comparable store sales. [Start Trading](113/cXx8Z04/VX44Yn4WwGvnW1z0MVN8sWnl2W91lZlN4SDN4wN63y6mQ2-MK5V1-WJV7CgK-rW2YwJqV7-pMDRW2p-bhJ3dHSNQW7q--_7638ckXW5J5K643_sjv1W4ngR8G81Sm2zM9vQBY2C6ffW6F6wCm4wCmmlW8hvwvr26SqfXW8Vw7Ns2ryY9TW7nhnvt6Xjyx_W8k2Rj_3p2FfKW2XB1gp7-g04kW2r-T7R2jfV5SW60gn8G8VBLSnVNXFrz3-g12lVdZ7gK3MNjpXW5BsmjY6t1f_vW33YCJQ1MQHdJW3wmYy797jZwTVjM_yS1tzkZG37JR1) Trader's Corner In focus this week • The S&P500 could see higher volatility upon the release of the November FOMC meeting minutes on Wednesday, which should offer insights into how the Fed is thinking about the path of rate increases. • Attention will also likely turn back to the deteriorating economic data. US and European PMIs are likely to re-emphasise the worsening economic conditions. More positive data could possibly help oil stabilise. • Lastly, tech companies HP and Dell (Monday after-hours) will report earnings, offering a glimpse of the state of demand for PCs. And retailers Best Buy and Dollar Tree will report earnings, ahead of "Black Friday", which is historically one of the year's biggest shopping days. Economic data this week • US: FOMC meeting minutes, PMIs, Building permits, Durable goods orders, Michigan 5-year inflation expectations • EU current account, consumer confidence, PMIs • German GDP, PPI, PMIs, Ifo Business Climate • UK PMIs * US holiday on Friday Earnings this week • Agilent Technologies, Compass, Analog Devices • Dell, Zoom, HP, Urban outfitters • Baidu, Meituan, Pinduoduo • Dollar Tree, Best Buy, Deere Crypto • Grayscale, the asset management subsidiary of DCG, which operates the giant Bitcoin ETF GBTC, has seen discounts towards the ETF widen to 43%. Investors fear Genesis' exposure to FTX could affect Grayscale. • After halting withdrawals in its lending business due to its exposure to FTX, Genesis (a DCG subsidiary) is raising $1b, citing a liquidity crunch due to certain illiquid assets on its balance sheet. [Screenshot 2022-11-20 at 14.23.20] [Start Trading](113/cXx8Z04/VX44Yn4WwGvnW1z0MVN8sWnl2W91lZlN4SDN4wN63y6mQ2-MK5V1-WJV7CgZ__W10qvWB3RGTZvN98SjX35cQrLW8vV1G06_SGM0W729FZ_1mLYZ-W5L0kHg4HKp5qW1p7PMG6-97PWW2q7bvq7MFJHRW3vTPYv30kfk4W40ZhqL9dGTzbW79XzTs6_b27SW9dfQrT48xXpYW7XfDyH51QR6BW4f8Fgx2STgqyW7MyHXJ3MbhqMW8x1s-f318VlSW3n9c2c2lXbxsW5QbTzv8t9FdPW8cblKR1PR7G5W1nVMYM7bFtj_N6H53BqKy8mk3c9J1) Market Recap Stocks on Friday saw support from positive earnings reports for retailers Gap, Ross Stores, and Footlocker. Chip stocks too received some good news after chip-equipment maker Applied Materials issued better-than-expected sales guidance. The S&P500 still closed the week 0.7% lower. The dollar gauge saw some buying, as bond yields rose on Friday, with yields for 10-year Treasuries closing the week near 3.8%, standing 50bps below the mid-October high of 4.3%. And energy stocks came under pressure as oil prices fell sharply Thursday and Friday. This morning, S&P500 futures contracts are pointing slightly lower as investors worry a surge in Covid cases in China may trigger authorities to tighten health restrictions. The euro and oil are lower on growth worries. Chart Of The Day Oil futures fell 2% Friday as China faces a jump in Covid cases and recession fears increased. The 2-10 year Treasury yields spread, which is known as a recession indicator, fell to its lowest. [MicrosoftTeams-image (21)-2](113/cXx8Z04/VX44Yn4WwGvnW1z0MVN8sWnl2W91lZlN4SDN4wN63y6mw2-MJQV1-WJV7CgDnWVblQX71zgBHXW122jq63xN4p1W3mtlsN4J8PCdW6PDz9y8M46V5W8Tb9bF75kc4mW58Cxtg20z8xpN6BgxYy_pMNVW1DKRm-8PnmhMW8VXb6d7mNskMW41GWX_3-mFnmW3MdcgZ3_f15nMd5z1f2MsKZN6zczJpsBMSLW4jkBLr7SdqFPW8fpMws8cp6nnW2sjK3D8yhNzqN3WFRfkvXzGRW2r1w2V32VScV3gRV1) FlowBank Blog Tracking the best indices to trade the equities rebound [Screenshot 2022-11-20 at 14.28.24](113/cXx8Z04/VX44Yn4WwGvnW1z0MVN8sWnl2W91lZlN4SDN4wN63y6mw2-MJQV1-WJV7CgJNCW6d7g2T37LmBXN6ZVXNJ4kFjvW6H5FDD59KNWYN7B7q6wKcyvsN7_fP1GG40J-W8nsKn01_5dT-W74qB378cdz7sW6tTSZx8LcHCyW4GxFFy7Ttl4TVvhsPX13zcNRW42yZjZ98BHFQW7Z4_vM5b_hs5W1ZjH2G4Cll5JW5csWFd6ZGQ8lN8cC_btNMFcXN7Xz-Ql2m12FW2bd_zS2XnHQnW402J0V72tlbD37-w1) The rebound in equities indices over recent weeks is gathering steam - but in some markets more than others. How have stock averages performed and which indices are best to join the rally? 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