Category: Markets
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When Is It Okay To Take The Contrarian Approach On Trends?
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Some days, most forex pairs go in one particular direction, and it makes no sense to go against the herd. However, if you are a fan of picking tops or bottoms and if you think that these powerful trends have already been exhausted, You shouldn’t be afraid to take a…
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S&P to include Smurfit WestRock in indices, sending Smurfit shares higher
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Investing.com — London-listed shares of Smurfit Kappa rose on Wednesday after Bloomberg News reported that Smurfit WestRock (NYSE:), the company formed through a merger between the Irish packaging group and its US counterpart WestRock, will be included in an index S&P Dow Jones. Average indicators. Smurfit Kappa agreed to buy…
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Dollar steady, sterling gains after UK inflation data By Investing.com
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Investing.com – The US dollar steadied on Wednesday after overnight losses, while the British pound rose after UK inflation returned to the Bank of England’s target for the first time in nearly three years. At 04:25 EDT (08:25 GMT), the dollar index, which tracks the US currency against a basket…
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GE Aerospace developing hybrid engines for single-aisle jets By Reuters
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Written by Rajesh Kumar Singh EVENDALE, Ohio (Reuters) – General Electric Aerospace is developing a hybrid electric motor that it hopes will power the next generation of narrow-body aircraft by the middle of the next decade. While this technology is still being tested, if GE succeeds, it could produce aircraft…
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Dollar struggles for direction, sterling rises after data By Reuters
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Written by Ray Wee and Stefano Ribaudo (Reuters) – The dollar stabilized on Wednesday, as weak US economic data affected strengthening US bets on lowering interest rates, but political tensions in Europe provided some support by weakening the euro. Meanwhile, the pound rose after data showed that services inflation in…
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How has the BOE rates pricing changed after the inflation data today?
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Let’s just do a quick check of things based on current prices: August – 25 basis point rate cut: ~32% (previously ~46%) September – 25 basis points rate cut: ~80% (previously ~88%) Total interest rate cuts for the remainder of 2024: ~44 basis points (previously ~48 basis points) Prospects of…
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London stocks wobble after drop in services inflation By Reuters
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(Reuters) – British stocks fell on Wednesday as investors manipulated headline inflation in Britain to hit the Bank of England’s target against lower service price inflation, while Vodafone’s (NASDAQ:) gains limited losses. By 7:06 GMT, the leading stock fell 0.2% to 8,172.5 points, while the average stock fell 0.2% to…
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Sterling edges up after UK inflation data By Reuters
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(Reuters) – The pound sterling rose slightly against the euro and the dollar after data showed British inflation returned to the Bank of England’s 2% target level in May for the first time in nearly three years. The decline in annual consumer price inflation from April’s reading of 2.3% is…
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Chart Art: Is WTI Crude Oil (USOIL) in for a Long-Term Reversal?
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I see a chart formation indicating a reversal in the downtrend for WTI. How far can he go from here? West Texas Intermediate (USOIL) 4 hours Chart by TradingView This energy commodity has been on a sell-off since mid-April, with the market’s lack of focus on geopolitical tensions likely causing…
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UK inflation the main highlight of the agenda today
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The major currencies look somewhat calm, and that is understandable. Today will be a placeholder trading day due to it being a holiday in the US. This makes the week a bit strange, as we have a break in the middle. The dollar remains more mixed overall during the week,…
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Investment firm Hamilton Lane closes $5.6 billion fundraising, exceeds target By Reuters
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(Reuters) – Investment management firm Hamilton Lane (NASDAQ:) said late Tuesday it has raised $5.6 billion as part of Hamilton Lane’s sixth secondary fund, exceeding its initial target. The fundraising, the largest in the company’s history, saw strong support from a diverse group of new and existing investors, with the…
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Daily Broad Market Recap – June 18, 2024
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Weaker than expected retail activity in the US raised concerns about growth and weighed on the US dollar. So why did US stocks expand their gains? Here are the headlines you need to know if you missed yesterday’s trading! Titles: Reserve Bank of Australia keeps interest rates at 4.35% He…
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Reminder – US markets are closed on Wednesday, June 19th – market hours impact
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I posted about this yesterday as a heads up, and I’m doing so again. US markets will be closed on Wednesday for the Juneteenth holiday. The New York Stock Exchange and Nasdaq will be closed The Securities Industry and Financial Markets Association (SIFMA) recommends that the US bond market be…
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Ford tests shipping cars from Mexico’s Guaymas port to cut logistics costs By Reuters
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Written by Kylie Maddrey MEXICO CITY (Reuters) – Ford shipped the first batch of cars on Tuesday from the previously neglected port of Guaymas near its factory in the northern Mexican state of Sonora in a project that could cut the U.S. automaker’s logistics costs if it is fully launched,…
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Ford tests shipping cars from Mexico’s Guaymas port to cut logistics costs By Reuters
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Written by Kylie Maddrey MEXICO CITY (Reuters) – Ford shipped the first batch of cars on Tuesday from the previously neglected port of Guaymas near its factory in the northern Mexican state of Sonora in a project that could cut the U.S. automaker’s logistics costs if it is fully launched,…
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Reuters Tankan report for June 2024: Manufacturing index +6 vs. prior +9
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The Reuters Monthly Tankan Survey is a guide to the Bank of Japan’s quarterly Tankan Survey. For June 2024: The Manufacturers Index is +6, from +9 in May Positive for the fourth month in a row Japanese manufacturers say their low confidence is due to high material costs. Non-manufacturers +31,…
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Trump Media says SEC’s decision may help it get $247 million By Reuters
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(Corrects movement of shares to “down 46%” from “down approximately 80%” and market capitalization to “$5.53 billion” from “$6.14 billion” in paragraph 6) (Reuters) – Trump Media and Technology Group said on Tuesday that the Securities and Exchange Commission has declared effective the company’s request to resell certain shares and…
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Stocks gain, US yields decline after retail sales data By Reuters
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Written by Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks rose for a second straight session on Tuesday and U.S. Treasury yields fell after a lower-than-expected report on consumer spending, while investors digested comments from several Federal Reserve officials on interest rates. The US Commerce Department said…
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AMD a Buy, three medium-term growth drivers seen By Investing.com
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Stifel maintained a buy rating and $200 per-share price target on AMD (NASDAQ:) in a note Tuesday, despite the stock’s underperformance compared to the broader market and competitor Nvidia. Analysts admit to mixed feelings about AMD due to concerns about future performance in the AI, PC and server markets. However,…