This week, the New York Stock Exchange is expected to show volatility by watching uncertainties related to the Ukrainian war and the re-proliferation of COVID-19 in China. In addition, a large number of Fed officials, the U.S. central bank, were scheduled to speak.
CNBC reported on the 20th (local time), The Ukraine crisis could continue to cause volatility this week, adding, Investors are also watching the COVID-19 situation, which has caused a blockade of Chinese cities and is spreading rapidly again in Europe.
In China, the re-proliferation trend has continued since the beginning of this month, and the containment area has been expanding. The number of confirmed cases has also rebounded in major European countries such as the UK and France.
In addition, Fed Chairman Jerome Powell’s speech this week on the 21st and 23rd, Rafael Bostick of Atlanta on the 21st and John Williams of New York on the 22nd have more than 12 speeches by Fed figures, including President.
According to the Wall Street Journal, sales of new homes in the U.S. in February, which will be announced on the 23rd, are expected to increase due to strong demand from buyers, and the U.S. manufacturing Purchasing Managers Index (PMI), which will be released on the 24th, is expected to slow down somewhat.
Analysts are paying attention to whether it will continue its upward trend, which began after the Fed’s first key rate hike last week. The S&P 500 rose 6.2 percent over the past week, the Nasdaq 8.2 percent and the Dow 5.5 percent.
Julian Emmanuel of Evercore ISI said, “We expect the market to continue to rise in the short term unless geopolitical events escalate,” adding, “The Fed is not raising interest rates enough to harm the market, and investors can focus on profits again.”