Category: Markets
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Mexico stocks higher at close of trade; S&P/BMV IPC up 0.33% By Investing.com
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Investing.com – Mexican stocks were higher after Friday’s close, as gains in the banking and financial services sectors led shares higher. At the end of trading in Mexico, the index rose by 0.33%. The session’s top performers were Controladora Vuela Compania de Aviacion SAB de CV (BMV:), which rose 5.04%…
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BofA: The US dollar has rallied ahead of 10 of the past 13 elections
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Bank of America confirmed that the US Dollar Index (DXY) historically tends to rise from August until the US election day in November, indicating potential strength for the US dollar ahead of the upcoming elections. Key points: Seasonal trends: Since 1970, the US Dollar Index has shown strength in August,…
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US appeals court scraps Biden tipped wages rule By Reuters
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By Nate Raymond (Reuters) – A U.S. appeals court on Friday rejected a rule adopted by President Joe Biden’s administration aimed at increasing wages for tipped workers, citing a recent U.S. Supreme Court ruling that limited the ability of federal agencies to issue regulations. A three-judge panel of the New…
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Expect some comments from the Bank of Canada Governor this weekend
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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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Bronfman’s Paramount bid could keep Shari Redstone involved, CNBC reports By Reuters
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(Reuters) – Former U.S. media executive Edgar Bronfman Jr. is open to having Shari Redstone stay involved with Paramount Global if its special committee accepts his union’s offer to buy out the company’s controlling shareholder, National Amusements, CNBC reported on Friday. On Wednesday, Bronfman beefed up his bid for Paramount,…
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IMF chief economist says Bank of Japan rate hikes a good development for Japan
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The Bank of Japan could continue to raise interest rates gradually at a “data-dependent” pace, IMF chief economist Pierre-Olivier Gourinchas told Reuters in an interview at the annual Jackson Hole Economic Symposium on Friday: Inflation is above the bank’s 2% target. Inflation expectations have started to move “perhaps even slightly…
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Norfolk Southern reaches agreements with four labor unions By Reuters
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(Reuters) – Norfolk Southern Railroad and BNSF Railroad said on Friday they have reached five-year interim collective bargaining agreements with four unions. The agreements call for an average wage increase of 3.5% annually over the next five years, more vacation time and some improvements to health care benefits. The agreements…
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Global Market Weekly Recap: August 19 – 23, 2024
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While most market participants were preoccupied with the FOMC minutes and expectations of Powell’s testimony at the Jackson Hole Symposium, commodities like gold and crude oil also responded to their own set of catalysts. Geopolitical headlines and global growth concerns led the energy commodity mostly lower during the first half…
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Forexlive Americas FX news wrap: USD falls as Powell pleges “everything we can” for jobs
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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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Russia stocks lower at close of trade; MOEX Russia down 2.32% By Investing.com
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Investing.com – Russian stocks were lower after the close on Friday, as losses in sectors led shares lower. At the end of trading in Moscow, the Moscow Stock Exchange index fell by 2.32% to reach its lowest level in 52 weeks. The session’s top performer was OK Rusal MKPAO (MCX:),…
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Earnings season was a better guide to the economy than the data
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Walmart CEO Doug McMillon The stock market’s big turnaround in August was impressive in many ways, but when I step back, there’s a big question being asked and answered: Is the Fed behind the curve? This issue involves a set of assumptions about the US economy, and if we look…
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Musk’s SpaceX testing breakthrough tech in risky spacewalk By Reuters
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Written by Joy Roulette WASHINGTON (Reuters) – SpaceX’s attempt to conduct the first-ever private spacewalk next week will test groundbreaking equipment including thin spacesuits and a cabin without an airlock in one of the riskiest missions yet for Elon Musk’s space company. A billionaire businessman, a retired military fighter pilot…
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Why the US dollar continues to weaken and the case for more selling from here
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The US dollar fell to new lows on the day across the board (but not yet against the pound). The market continues to digest Powell’s comments, and the front end of the yield curve remains the place where the strongest buying is taking place. The 2-year Treasury note fell 9…
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Canada rare earth developer Tactical Resources doubles on SPAC merger plans By Investing.com
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Vancouver-based mineral exploration and development company. Tactical Resources Shares of Plum Acquisition III Corp (TSXV:) rose Friday on news that it plans to list on the Nasdaq through a merger with a special purpose acquisition company, Plum Acquisition III Corp (NASDAQ:). Shares of Tactical Resources Corp. surged 120% on the…
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Sterling climbs to highest since March 2022 against dollar By Reuters
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(Reuters) – Sterling rose to its highest level in more than two years against the dollar on Friday, helped by fresh signs of strength in the British economy and dovish comments from Federal Reserve Chairman Jerome Powell that pushed the greenback lower against many global currencies. The pound jumped 0.7%…
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BOE’s Bailey: Market events like two weeks ago will happen, test is whether more triggered
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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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Grocery stores boost donations as Democrats criticize their business practices By Reuters
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Written by Bo Erickson WASHINGTON (Reuters) – The level of political donations from major food companies accepted by Democratic lawmakers has risen during the current congressional election cycle, a Reuters analysis of Federal Election Commission data shows, even as many Democrats accuse major U.S. grocery chains and their suppliers of…
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Why Do Part-Time Forex Traders Even Try?
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Forex trading is a hobby you do after work (or maybe during work) and do if you have enough strength to keep your eyes open. You don’t have the trading experience to spend your time on it, but it’s your dream. And it’s a great dream. But the days seem…
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ForexLive European FX news wrap: Dollar sluggish as markets await Powell
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Headlines: Markets: AUD advances, USD and CHF lag during the day European stocks rise; S&P 500 futures up 0.5% The yield on the 10-year US Treasury note fell 1.4 basis points to 3.848%. Gold rises 0.6% to $2,498.53 West Texas Intermediate crude rose 1.3% to $73.96. Bitcoin price rises 0.2%…
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Buffett’s new stock pick likely to deliver an earnings miss: Citi By Investing.com
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Warren Buffett’s latest investment in Ulta Beauty (NASDAQ:) could get off to a rocky start, according to analysts at Citi. Despite the excitement surrounding Berkshire Hathaway’s (NYSE:) new stake in the beauty retailer, Citi expects Ulta Beauty to likely miss its Q2 2024 earnings targets, citing several factors. As a…