Market News

“We ended 2022 with our strongest quarter ever, with robust demand and record margins,” Uber CEO Dara Khosrowshahi said. Shares of the American ride-hailing giant Uber (NYSE: UBER) extend the gains and surged another 6% on Wednesday.

Global markets ended last week on mixed after Jan US job market numbers exceeded market forecasts that fuelled expectations that the US Fed will continue to raise interest rates aggressively to combat inflation. This week Investors and traders should shift their emphasis from economic data to the Q4 earnings season and the latest comments from the FED policymakers.

The Euro to Pound exchange rate continues to move sideways ahead of monetary policy decisions by the Bank of England (BoE) and the European Central Bank (ECB) on Thursday.

Global markets ended last week on a positive note. Moving ahead, markets are expected to be volatile this week, with investors closely watching economic data and global events. The inventors are anxiously awaiting Wednesday’s decision by the Federal Reserve on interest rates along with ECB and BOE decisions on Thursday.

Shares of the home furnishings and décor e-tailer Wayfair (NYSE: W) retreats almost 10% after the stock spiked more than 50% from the last Thursday’s closing. However, Investors continued to show buying interest in Wayfair shares in the coming days.