Category: Markets
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USDJPY moves back above 159.000 after the stronger S&P global PMI data
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USDJPY rose back to the upside and returned above the 159.00 level after stronger-than-expected flash data for the S&P Global Manufacturing and Services Index. The high price was traded up to 159.206. This brings it to 100 points below the 2024 high of 160.208. The highest level was back in…
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Stocks that could benefit in the most likely US election outcome scenarios By Investing.com
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As the US presidential election approaches in November, analysts expect stock market volatility to rise due to policy uncertainty. The investment bank advises against making material changes to strategic portfolio allocations based solely on elections, but recommends considering election risk management in the near term. “We expect stock market volatility…
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USD/JPY is on the highway to the danger zone
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USD/JPY bulls are playing with fire. The pair rose for the seventh straight day after the surprisingly strong US Services Purchasing Managers’ Index (PMI) was released. A reading of 55.1 is the highest level in 26 months and well above the consensus of 53.7. The report sparked widespread US dollar…
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OpenAI buys database analytics firm Rockset in nine-figure stock deal, sources say By Reuters
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Written by Crystal Ho and Akash Sriram (Reuters) – Microsoft-backed OpenAI said on Friday it has acquired database search and analysis startup Rockset to provide better infrastructure for its enterprise products. The companies did not disclose the size of the deal. OpenAI used its shares to buy the company in…
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Group claiming CDK systems hack demands millions of dollars, Bloomberg News reports By Reuters
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(Reuters) – A group of hackers who claimed responsibility for a cyberattack on CDK software systems demanded a multimillion-dollar ransom to put an end to the hack that affected auto dealers across the United States, Bloomberg News reported on Friday. The group behind the attack is believed to be based…
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Nasdaq and S&P positive and trading at session highs
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The S&P, NASDAQ and A are now trading in positive territory and at today’s highs: The Nasdaq leads the way with gains of 50 points, or 0.28%, at 17,770.44. The Standard & Poor’s index rose 2.23 points, or 0.04%, to 5,475.42 points. During the trading week, both indices tend to…
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Alaska Airlines, flight attendants reach tentative deal By Reuters
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(Reuters) – A union representing Alaska Airlines flight attendants said on Friday it had reached a tentative agreement for a standard contract with the carrier. Details of the deal will be reviewed by union leadership, followed by a vote to ratify members, the flight attendant assistant said. “With our joint…
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Treasury proposes ban on many investments in Chinese semiconductor production
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The United States is determined to dominate semiconductors and not let China catch up. Proposed new rules restrict US investment in key sectors The rules prohibit certain investments in advanced design, automation, manufacturing and packaging tools Quantum computers and artificial intelligence have also been targeted Proposes notification requirements for all…
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Treasury proposes ban on many investments in Chinese semiconductor production
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The United States is determined to dominate semiconductors and not let China catch up. Proposed new rules restrict US investment in key sectors The rules prohibit certain investments in advanced design, automation, manufacturing and packaging tools Quantum computers and artificial intelligence have also been targeted Proposes notification requirements for all…
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Boeing’s Starliner return to Earth delayed indefinitely By Reuters
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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some or all of your investment amount, and may not be suitable for all investors. Cryptocurrency prices are highly volatile and may be affected by external factors such as financial, regulatory or political events.…
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USDCAD bounces higher today but only to the 50% midpoint of the 2-month trading range
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Heading into the end of the trading week, the US dollar rose against the Canadian dollar after hitting a new low during the previous week on the trading day. On the way to the bottom, the price returned below the 200-bar moving average on the 4-hour chart at 1.3687. It…
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Appeals court does not block US mandate to cover cancer screenings, HIV drugs By Reuters
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Written by Brendan Pearson (Reuters) – A U.S. appeals court on Friday declined to block a federal order requiring health insurers to cover preventive care services such as cancer screenings and HIV prevention drugs at no additional cost to patients, but ruled against the government in a major legal case…
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Forexlive Americas FX news wrap 21 Jun: The USD moves higher helped better flash S&P
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The week is coming to an end, as the US dollar is the strongest among the major currencies. The Japanese yen is the weakest. The dollar’s gains today were supported by stronger-than-expected Purchasing Managers’ Index (PMI) data, which saw the services index rise to 55.1 versus 53.7 expected, and manufacturing…
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S&P, Nasdaq end lower as Nvidia drags the tech sector for second day By Reuters
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Written by Echo Wang (Reuters) – The indexes and the Nasdaq closed slightly lower on Friday, dragged down by a decline in Nvidia (NASDAQ:) shares for the second day in a row, dragging the technology sector lower. Technology was the biggest loser among the 11 major sectors in the Standard…
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Factbox-Patriot in focus amid missile defense system shortage By Reuters
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(Reuters) – As the Ukrainian military suffers from a shortage of missile defense systems amid Russia’s bombing of its energy infrastructure, the focus is on Patriot systems, which have helped Kiev defend itself against attacks. What is the Patriot system? The Phased Tracking Target Interdiction Radar, or PATRIOT, is an…
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S&P 500 Churns as ‘Triple Witching’ Jolts Nvidia: Markets Wrap
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(Bloomberg) — The massive expiration of Wall Street options not only left stocks struggling for a clear direction, but also sent one of the bull market’s leaders into a volatile ride. Most read from Bloomberg About $5.5 trillion is expected to expire on Friday during a quarterly episode known as…
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MUFG: BOJ likely to raise rates next month, MOF under pressure to intervene
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USD/JPY daily MUFG highlights the yen’s recent weak trend and expects the Bank of Japan to raise interest rates at next month’s meeting. At the same time, the Finance Ministry faces increasing pressure to intervene in currency markets to prevent the yen from further depreciating beyond critical levels. the main…
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This ‘hated, under-owned’ stock is a ‘true AI winner’ says Mizuho By Investing.com
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Mizuho analysts described Adobe Systems (NASDAQ:) as a “true AI winner” in a new note on Friday. Analysts highlighted the underappreciated potential of Adobe’s AI technology and the opportunity for significant future gains. “I personally like this contrarian positive call,” the analysts enthused in the report. They find that Adobe’s…
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GBPJPY tests the highs from last week after dip today bounced off MA support
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GBPJPY was in an uptrend this week, but turned lower during the European session after weaker than expected preliminary PMI data. The price fell below the 100-hour moving average (blue line on the chart above at 200.77) but found support near the 200-hour moving average and the lower end of…