Nasdaq-100 +3% higher post FOMC announcement
Last night, the FOMC left federal fund rates unchanged at a range of 5.25% to 5.50%, a level that has been maintained since July 2023. However, what the market was looking out for was whether Fed Chair Jerome Powell would signal a September rate cut that the market has been expecting – and he did.
Tech stocks in the US rallied overnight, driven by gains in Nvidia which surged 13%, helping the Nasdaq-100 index gain 3% and the futures index to climb 2.3% from the close as of 5pm yesterday (Singapore time) to 19,647 (as of 9AM). Consequently, Macquarie’s trending Nasdaq-100 call warrant NASDAQ 22000MBeCW241220 ( $NASDAQ 22000MBeCW241220 (IHJW.SG)$) opened 28.3% higher to SGD 0.059 as of 9AM, while trending put warrant NASDAQ 18500MBePW241220 ( $NASDAQ 18500MBePW241220 (UUZW.SG)$) is down 15.5% to SGD 0.092.
Investors expecting continued volatility in the US markets may wish to consider using US index warrants which offer leveraged exposure to three US indices at a smaller capital outlay.
📖 Read more: https://tinyurl.com/MMB1Aug24
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Macquarie Warrants Singapore is an issuer and market-maker in Macquarie warrants listed on the SGX.
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