Category: Markets
-
Pure Storage stock down as UBS downgrades to Sell due to unjustified valuation By Investing.com
•
Shares of Pure Storage (NYSE:) fell more than 5% before the market open on Tuesday after UBS analysts downgraded the stock from neutral to sell. The move comes as UBS sees an unfavorable risk-reward profile for the flash storage solutions provider due to slowing growth, declining market share, high valuation,…
-
US Treasury yields boost dollar, Powell speech in focus By Reuters
•
By Amanda Cooper and Stefano Ribaudo (Reuters) – Rising U.S. yields supported the dollar on Tuesday, while low-yielding currencies such as the Japanese yen felt pressure as investors awaited a speech by Federal Reserve Chairman Jerome Powell later in the session. Benchmark 10-year U.S. Treasury yields rose about 14 basis…
-
Euro’s lack of faith highlights risks surrounding French elections
•
The euro may have looked a bit optimistic early yesterday, but it faces a reality check today. The first round of the French election saw a clear victory for Le Pen’s far-right faction. Although the margin of victory was slightly narrower than expected, it also underscored the Macron government’s failure…
-
European Stocks Drop on Rates Outlook, France Poll: Markets Wrap
•
(Bloomberg) — European stocks fell after policymakers signaled they needed more evidence that price pressures were under control, even as the latest data showed euro-area inflation slowing slightly. Most Read from Bloomberg The pan-European Stoxx 600 index fell about 0.5%, led by insurers and automakers. France’s CAC 40 lost most…
-
Spirit Aero chief in spotlight as Boeing searches for new CEO By Reuters
•
Written by Rajesh Kumar Singh CHICAGO (Reuters) – Boeing Co’s long-awaited announcement that it will buy back its troubled supplier Spirit Aerosystems Inc has now turned investors’ focus to the planemaker’s search for a new chief executive. Boeing is looking for a new chief executive after Dave Calhoun said in…
-
Dollar edges higher on Trump expectations; euro slips ahead of inflation data By Investing.com
•
Investing.com – The U.S. dollar was slightly higher in early European trade on Tuesday, recovering from recent losses, while the euro fell ahead of key inflation data. At 04:30 ET (08:30 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was up 0.1% at…
-
U.S. ISM Manufacturing PMI Contracted At A Faster Pace In June
•
Data released by the Institute for Supply Management showed that the US manufacturing sector recorded a contractionary reading of 48.5 points for the month of June. This is lower than the expected reading of 49.2 points and the index number in May of 48.7 points! In fact, the June PMI…
-
ECB’s Lane: June inflation data seems in line with our assessment
•
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…
-
Daily Broad Market Recap – July 1, 2024
•
The absence of surprises from the French parliamentary elections over the weekend helped to kick off the third quarter of 2024 trading on a strong note on Monday. Which assets saw notable moves at the beginning of the week? We discuss the main market drivers in detail below! headlines: Canada…
-
Increasing speculation of a PBOC RRR cut this month or next
•
There are some expectations that the People’s Bank of China will cut the reserve requirement ratio this month, or in August, to boost long-term liquidity and support bond buying. The People’s Bank of China may adopt measures such as cutting the reserve requirement ratio (RRR) to provide sufficient liquidity to…
-
Samsung Electronics workers to strike on July 8-10, union official says By Reuters
•
By Heekyung Yang and Joyce Lee SEOUL (Reuters) – South Korea’s Samsung Electronics Co Ltd workers’ union has called a strike from July 8 to 10, a union official said on Tuesday, as it steps up industrial action against the country’s most valuable company. The official told Reuters by phone…
-
RBA could hike rates in August, supporting AUDUSD- UBS By Investing.com
•
UBS said it expects the Reserve Bank of Australia to raise interest rates in August after a series of inflation surprises, and that the Australian dollar (AUDUSD) is likely to benefit from such a scenario in the longer term. Australia’s inflation rate has unexpectedly risen for three straight months, raising…
-
US President Biden says no one is above the law
•
Biden speaks on Supreme Court immunity ruling, here are some notes: US President Biden is scheduled to deliver a speech at 7:45 p.m. ET. Biden: There are no kings in America. No one is above the law The decision means there are virtually no limits to what the president can…
-
Drugmakers’ appeal to end Zantac cancer lawsuits rebuffed by judge By Reuters
•
By Brendan Pearson (Reuters) – A Delaware judge has rejected a request by GlaxoSmithKline and other drugmakers to appeal a ruling that allows more than 70,000 lawsuits alleging that heartburn drug Zantac causes cancer. The ruling by Judge Vivian Medinella of the Delaware Supreme Court means that drug companies, which…
-
Drugmakers’ appeal to end Zantac cancer lawsuits rebuffed by judge By Reuters
•
By Brendan Pearson (Reuters) – A Delaware judge has rejected a request by GlaxoSmithKline and other drugmakers to appeal a ruling that allows more than 70,000 lawsuits alleging that heartburn drug Zantac causes cancer. The ruling by Judge Vivian Medinella of the Delaware Supreme Court means that drug companies, which…
-
WSJ on rising US yields, cite “potential Republican sweep in November”
•
US bonds are suffering from a dismal performance: Forex Live US Forex News Summary July 1; US Yields Continue to Rise as Longest Period Ends The Wall Street Journal published an article about rising bond yields. I will add a warning here for those with political motives. The article deserves…
-
Explainer-How a Boeing plea deal could affect the planemaker By Reuters
•
By Chris Prentice and Mike Spector (Reuters) – The U.S. Justice Department will file criminal fraud charges against Boeing Co over two fatal crashes and will require the planemaker to plead guilty or face trial, people familiar with the matter said on Sunday. Boeing will have until the end of…
-
Economic calendar in Asia Tuesday, 2 July 2024 – RBA June meeting minutes
•
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…
-
WestJet’s union ends strike after reaching deal with carrier By Reuters
•
(Reuters) – The union representing striking mechanics at Canada’s WestJet Airlines said on Monday it had negotiated a contract with the carrier, ending their strike with immediate effect. WestJet said its members will return to work to restore the network after the airline was forced to ground 130 aircraft at…
-
Goldman Sachs: Another sign that the dollar still stands above the ‘challengers’
•
Goldman Sachs notes another sign that the US dollar remains strong against its rivals. The broad dollar index has surpassed its October 2023 high, with recent strength attributed to the lack of rate cuts by the Federal Reserve and strong real interest rate benefits, making the dollar a formidable currency.…