Category: Markets
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FBI seizes Republican Representative Ogles’ cell phone in funding probe By Reuters
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WASHINGTON (Reuters) – Republican U.S. Representative Andy Ogles said on Tuesday that FBI agents seized his cellphone as part of an investigation into problems surrounding his disclosure of campaign funds. “Last Friday, the FBI seized my cell phone,” Ogles said in a statement posted to X, formerly known as Twitter.…
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Goldman Sachs has introduced a new Financial Stress Index (FSI) – totally normal
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Global stocks rebound from sell-off; Treasury yields, dollar higher By Reuters
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By Sinead Carew and Amanda Cooper NEW YORK/LONDON (Reuters) – Stocks around the world rebounded on Tuesday from a sharp sell-off the previous day, while Treasury yields rose and the dollar firmed slightly as investors returned to riskier assets and central banks responded to recession fears. Oil prices rose on…
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S&P index getting close to its 100 day moving average
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The S&P 500 is trading near its all-time high, up 115 points or 2.23% at 5301.95. The high so far is 5303.17. This puts the price 5.6 points away from its 100-day moving average. This moving average is at 5308.75. The price hit a low last Friday near this level…
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German drugstore chain shuns Teslas over Musk’s support for Trump By Reuters
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FRANKFURT (Reuters) – German drugstore chain Rossmann said on Tuesday it would no longer buy Tesla cars for its corporate fleet because of Chief Executive Elon Musk’s support for U.S. Republican presidential candidate Donald Trump. The pharmacy chain, one of Europe’s largest, said its decision took immediate effect and was…
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Broader indices trading to new highs. What next technically?
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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US NTSB opens hearing on Boeing 737 MAX 9 mid-air emergency By Reuters
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By David Shepardson, Alison Lambert, Abhijith Ganapavaram, and Tim Heffer WASHINGTON (Reuters) – The U.S. National Transportation Safety Board on Tuesday questioned key witnesses from Boeing Co, Spirit Aerosystems Inc and the Federal Aviation Administration about an Alaska Airlines 737 MAX 9 passenger cabin panel exploding in flight in January.…
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Asia FX weak as yen falls from 7-mth peak; Aussie firms on hawkish RBA By Investing.com
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Most Asian currencies were slightly lower on Tuesday as the dollar steadied after its recent slide, with the Japanese yen retreating from seven-month highs. The Australian dollar was among the region’s best performing currencies, rising after the Reserve Bank of Australia kept interest rates unchanged but took a hawkish stance…
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Will There Ever Be Another Crypto to Rise Like Bitcoin?
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Bitcoin (BTC) was introduced to the world in 2009 as the first decentralized cryptocurrency. During Bitcoin’s early years, it was mainly embraced by tech enthusiasts as it was not known or understood by the general public. In 2010, Bitcoin gained its first monetary value when someone exchanged 10,000 Bitcoin for…
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Jacobs beats Q2 revenue estimates on steady demand in infrastructure business By Reuters
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(Reuters) – Engineering consultancy Jacobs Solutions Inc beat third-quarter revenue estimates on Tuesday, helped by continued demand at its infrastructure services unit. The People & Places Solutions (P&PS) segment, which provides architecture, energy transformation and other technology services, benefited from the US government’s $1 trillion infrastructure bill, as well as…
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Dollar rebounds after hefty losses; euro, sterling slip By Investing.com
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The US dollar rose on Tuesday, recouping some recent losses as a measure of calm returned to foreign exchange markets. At 06:20 ET (10:20 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was up 0.4% at 102.907, after falling to a seven-month low…
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RBA’s “Hawkish Hold” Briefly Supported AUD During The Asian Session
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As expected, the Reserve Bank of Australia decided to The Reserve Bank of Australia kept official interest rates at a 12-year high of 4.35%. For its sixth consecutive meeting in August. The Central Bank confirmed that High inflation remains a concern.Inflation has “declined significantly” but is “persistently above” the 2%…
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Nasdaq Technical Analysis – The rout in the Japanese markets impacted globally
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Basic Overview At one point, it looked like the worst was over, with the Nasdaq up nearly 5% in a single day following the Bank of Japan and FOMC decisions. Unfortunately, the next day we got the ugly US ISM manufacturing PMI, which sent the market into a defensive and…
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ZoomInfo stock falls 16% on weak guidance, CFO transition; Analysts downgrade By Investing.com
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ZoomInfo shares fell 10% in after-hours trading Tuesday after the company reported second-quarter earnings that missed analysts’ expectations and gave weaker-than-expected guidance. The product launch services company also announced a leadership change in its finance department. ZoomInfo reported adjusted earnings per share of $0.17 for the second quarter, missing analysts’…
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Stocks Rebound From Global Slump, Treasuries Fall: Markets Wrap
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(Bloomberg) — Calm returned to markets as investors looked for bargains after a selloff in global stocks on Monday that peaked after three weeks of losses of about $6.4 trillion. Bond prices also fell. Most Read from Bloomberg S&P 500 futures suggested a recovery could be on the way after…
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Squeeze on carry trades leaves currencies, investors on edge By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar suffered sharp losses on Tuesday as the yen retreated after a sharp rise in the previous session as traders faced the prospect of a sharp rate cut by the Federal Reserve. The yen fell 0.89 percent on Tuesday to 145.48…
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FX Watch: NZD/CHF To Extend Its Trend After NZ’s Jobs Release?
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Like other “risk” assets, the New Zealand dollar lost ground against its safe-haven peers as optimism over low interest rates turned to concerns that a high interest rate environment was leading to recessionary conditions in the US and other major economies. The Swiss franc, in particular, found additional support from…
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RBA leaves cash rate unchanged at 4.35%, as expected
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Previous 4.35% Inflation remains above target and proves persistent The outlook remains highly uncertain. The process of returning inflation to target has been slow and turbulent. High unit labor costs and persistent inflation point to higher price risks. Wage growth appears to have peaked but is still above the level…
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Exclusive-Chinese firms stockpile high-end Samsung chips as they await new US curbs, say sources By Reuters
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By Heikyong Yang, Fanny Botkin, and Karen Freifeld SEOUL/SINGAPORE (Reuters) – Chinese tech giants including Huawei Technologies and Baidu Inc as well as startups are stockpiling ultra-wideband memory semiconductors from Samsung Electronics Co Ltd in anticipation of U.S. restrictions on chip exports to China, three sources said. Companies have ramped…
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Daily Broad Market Recap – August 5, 2024
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Traders appear to have woken up on the wrong side of the bed this Monday, as major asset classes found themselves in the red. What’s going on? Here’s a quick summary of the headlines and economic updates that impacted the markets: headlines: Minutes of the Bank of Japan meeting revealed…