Broadcom beats 💪 Stocks rebound📈 PPI & Fed 👀 S&P500🚦EURUSD targets 🚩

FlowBank's hand-curated fresh financial news [header_noDither] 09.12.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_1586823289] Broadcom issued an encouraging sales outlook for the current quarter, stating that demand from corporate clients and the data center market remained robust. In late trade, shares ended the day up 5% to $545. The prediction maintains a trend in which Broadcom outperforms the larger semiconductor sector. [Start Trading](113/cXx8Z04/VVvmKG1Zg-sbW4c_gBQ98zNJBW93kvSZ4TlkMkKqQ32-MK5V1-WJV7CgQGGN3g-P6T5-HSJW1LDj7R5HtbqGV3gFWv7Hb_8KW6rGyQz2kzJF3W1N0T0Q5kGmKYW6nLBlp3KXVJwW7TqwwS7D-s1NW940xNJ92x7HXW85RN0F40mHNdW7GDWlG87LktkW8Sm3N95TKgGJW3KnK-h3fmyrkVpd6nb8FvkQZN3pKV4LGwKwNW3n4GJR2dVrQ6W2sqjHD4805LBW4f1Fmz33zFQtW56n0j52WXWFMW7qp1df8S4sSLW8F6YMt7qsZ2T3gYl1) Trader's Corner In focus • After the disappointing employment news, traders will be keeping a close eye on US PPI. A lower PPI reading could show that inflation is slowing down further, which would be favorable for risk assets. • Stocks continue to be volatile intraday. PPI and consumer sentiment could add to swift moves. The 3'980 resistance level on the S&P500 and the 3'920 support level should be closely followed. • Lastly, the euro is seeing strong interest as traders weigh the possibility of lower long-term US Treasury yields. Bulls in the EURUSD are looking to break over the previous 1.0590 barrier. Economic data • US PPI, Michigan 5-year inflation expectations & consumer sentiment Earnings • Li Auto • Carl Zeiss Crypto • Bitcoin gained more than 2% on improving investor sentiment, reclaiming USD17'200. The move is also helped by a weaker dollar. • Shibuya, an NFT platform co-founded by artist Emily “pplpleasr” Yang, raised $6.9 million in seed funding. The platform will expand its team and work to onboard creators to launch additional original video series. [Screenshot 2022-12-09 at 02.05.38] [Start Trading](113/cXx8Z04/VVvmKG1Zg-sbW4c_gBQ98zNJBW93kvSZ4TlkMkKqQ32-MK5V1-WJV7CgQ99W3g1Kl21TFj67W39dkS288pSXtW5kt8lj3Pg0nzW1Z8z365gwBnNW3ngpCK5FM8BBW46mCm-6F-gvcW8tk4Qg3YKdm3W1K6dRm2HgsVvW80qwZk71rs2MVkg4zQ3NNlxrW5-jc2D7-_JNWW6ZBFVt8lrr3zW2XJ3xq3cMf94V8k2gG4T5GcZW1lL4nn7kdzc0W8K45lJ7NtxqKW3sMrhP9hKsJ8W920zJ08KGRYjW5wtsSb37STqXW50Frtc2VWtyg3gsX1) Market Recap US stocks rebounded led by improving sentiment on the back of much worst continuing jobless claims. This alleviated fears the Fed may react too late to ease pressure on the economy. Top of the leaderboard were the tech (+1.6%) and consumer discretionary (+1.1%) sectors. Oil had a tentative rally but traders sold any rebound on global growth fears. The euro rallied as the dollar gave up more ground. Gold held flat at around USD1'800. And FTC is seeking to block Microsoft’s (MSFT) acquisition of Activision Blizzard (ATVI). This morning, stock futures are trying to break above yesterday's highs on the S&P500 futures. Oil bulls continue to defend the $72pb level on WTI. And the euro-dollar is ticking higher ahead of US PPI. Chart Of the Day Oil is headed for a weekly loss of almost 12% after a volatile period of trading as concerns over the economic outlook overshadowed an easing of China’s strict virus curbs and a disruption to US crude flows. [Screenshot 2022-12-09 at 02.36.10](113/cXx8Z04/VVvmKG1Zg-sbW4c_gBQ98zNJBW93kvSZ4TlkMkKqPN2-MJQV1-WJV7CgYjSW2pCwM_7ldf_lW4vMMhQ7vFfL0W8wq6rn3lpyfZW3jb16M5NHknnW3mk2pj5tGk87W5w9YR538KvPKN8FMWmNrXVDtW57D4km3dvn_JW18D9LT8W8jYwVj3v0X374P1BW71wHLF5Cw0k9W362jSY51WdcTW3t49gx8Y0PvkW4qdyJK4JTRGdW6n_bHw1bnwbHW8_Mcnm6DkpBRW2DtVrZ1sdLxlW3CdCfn1G_fNh3m8p1) FlowBank Blog 2022: A difficult year for ESG [ESG main](113/cXx8Z04/VVvmKG1Zg-sbW4c_gBQ98zNJBW93kvSZ4TlkMkKqPN2-MJQV1-WJV7CgSFvW106wZ14zrZh8N8V5ByJHtSt5VlmyRl7lx2TvN1Xwnz3RDZHNW53c3R-4VWmzyW2654Rq3BKdY8W4f7G8k4h4QVSW5Yyj-G93lXzYW5frXF_97Yvv0W6Gchpt5sZ417W4szFW28rSg8tW6HPWrJ12_jrPN32qS4_Lw_SPV4_gLc60CQ-mW2yZVpJ1tFrvrN6s30YJRzTkGW6x6Fk62rQz98W1KKJVW7B0NlH3hPr1) ESG has attracted trillions of dollars in investments. But performances have not quite followed through this year amid the difficult market environment, energy sector outperformance, and tech underperformance. What does this tell us about ESG? 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