Market thinking: not so fast

Looking Ahead US and Global Markets by Mike Dolan In a clear U-turn this week, Elon Musk on Tuesday Buy Twitter after top rates in the UK tax cut reversal and stocks rebounded on a new quarter of relief this week. Of course many investment investors are praying that global central banks will join the UK government and Musk in a similar rethink – but not quite Possibly, and reason enough for the market to sober up on Wednesday after Wall Street posted its biggest two-day rally since the outbreak in April 11. New Zealand’s central bank has become the latest to insist on raising interest rates to a seven-year high and pledge to do more amid efforts to cool central bank – high inflation in an over-stressed economy. UK Prime Minister Liz Truss is also due for a speech at her annual party convention and she is expected to stick to her The remainder of the financial plan remains unchanged. This week’s rise in oil prices is also a stone’s throw away, with OPEC+ producers meeting in Vienna and hoping to reach their goal of sharp production cuts Consistent, despite market tensions. There are still lifesavers this week, with some hoping this year’s relentless sell-off will ease. Musk’s news is just an added boost. Twitter’s share soars by more than % on Tuesday The docs show that Musk will continue his original $000 billion takeover offer, calling for an end to a lawsuit by the social media company that could force him to pay anyway. The macro backdrop is all hope that the Fed can take the brakes on interest rates, and the US job openings in August are the largest in nearly 2-1/2 years News of the drop encouraged this. and US September private ADP sector wage data to be released later – forecast another 25, job growth — and in Friday’s national jobs report, both stocks and bonds have returned to positions. U.S. Treasury yields rose slightly, 200standard Poole 50 futures and European stocks retreated nearly 1%.