June 28, 2022

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Oslo Stock Exchange denounces US panic - heading for a strong recovery

Oslo Stock Exchange denounces US panic – heading for a strong recovery

From prior trading on the IG trading platform, the Oslo Stock Exchange was up 0.8 percent just before 07:30 on Friday.

Nordent’s Roger Berntsen expects to open up to 0.7 percent in green.

Asia

While recession fears drove Wall Street sharply lower on Thursday, the picture was more mixed in leading Asian stock markets on Friday.

It is located in the Tokyo Stock Exchange Nikki nearly 2 percent to 25,924.77, while the broader TopixThe index fell 1.8 percent to 1834.95. SoftBank Group fell more than 4 percent.

Otherwise in Asia go CosbyThe index in South Korea returned 0.6 percent, while Hang Seng In Hong Kong, it increased by 0.8 percent. In mainland China Shanghai boatIndex unchanged while SydneyThe stock market fell about 2 percent.

According to the website, Chief Strategist Suresh Tantia at Credit Suisse’s APAC investment division maintains his dominance of equities versus bonds.

– You cannot rule out further declines because the markets are sometimes very volatile. They are trading on the news feed and based on the Fed’s outlook at current levels, it doesn’t really make sense to go short. “I think once expectations of a Fed rate hike have stabilized, we should start and see a recovery in the stock market,” he says.

Read the full update for Asia here.

oil prices

At the time of writing, the price of a barrel of Brent oil is $119.15, down 0.6 percent. The cost of WTI oil is $116.48. By comparison, the price of a barrel of North Sea oil was $120.54 at the close of the Oslo Stock Exchange yesterday.

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Wall Street

After the US Federal Reserve raised interest rates with the biggest jump since the 1990s, hangovers occurred the next day, with a broad drop on Wall Street.

  • Dow Jones It fell 2.51 percent to 29,900 points. This is the first time since January 2021 that the index is below 30,000.
  • Standard & Poor’s 500 It fell 3.24 percent to 3,667 points.
  • Nasdaq It also lost weight, dropping 4.08 percent to 10,646 points.

The Vix Index rose 11.88 percent to 33.13 points, indicating that there are much larger concerns in the markets.