Jimmy Zhu, Fullerton Markets’ Chief Strategist, went LIVE on CNA this morning to discuss some recent stock market developments, such as:
- UK regulator blocks Microsoft's $69B Activision Blizzard deal, causing a 12% drop in gaming company's shares.
- Facebook shares surge after posting Q1 earnings in extended trade.
- The market is unlikely to rebound until Federal Reserve hints at an interest rate cut.
- First Republic's impact on the Asian market is expected to be limited but could be significant for the US market.
- Fed is expected to signal near the end of the hiking cycle and address the banking crisis in the market.
- NASDAQ and US 2-year Treasury yields to break negative correlation.