Snowflake banners decorate the New York Stock Exchange to market the debut of the software company’s shares in New York on Sept. 16, 2020. Source: Snowflake Snowflake shares fell as much as 8% in extended trading on Wednesday after the data-analytics software company barely met analysts’ expectations for product revenue, the company’s main source of
Previewing next week key data releases from the US, “payrolls probably rose strongly by pre-covid standards but we see some downside risk versus the consensus again this month,” said TD Securities anaysts. Key quotes “Our forecast implies a still-sizeable 7.7mn net decline from the pre-COVID level. The unemployment rate probably resumed its downtrend after a surprising
Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme. “The SEC’s complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the
A look at FX monthly performance and the chart The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar. A big move in GBP/JPY came yesterday
Meme stocks had a big turnaround Shares of AMC went for a wild ride today in the latest meme stock mania. The company closed Thursday at $26.75 then soared to $36.72 at the open before turning around to finish 1.5% lower at $26.12. Shares of GME finished 12.6% lower after opening 3% higher as well.
Gold reversed course and turned positive on Friday, briefly popping above the key $1,900 level, after data showed US consumer prices surged in April and boosted bullion‘s appeal as an inflation hedge. Spot gold rose 0.1% to $1,896.96 per ounce by 12:10 p.m. EDT (1610 GMT), having earlier dipped as much as 0.8%. It is
Dollar surges in early US session as boosted by stronger than expected inflation readings. Indeed, the core PCE inflation hit the highest level since 1991. With the current buying momentum, the greenback is likely to end the week on a high note, with prospect of closing as the strongest. On the other hand, commodity currencies
A key inflation indicator rose 3.1% in April, faster than expected, as price pressures built in the rapidly expanding U.S. economy, the Commerce Department reported Friday. The core personal consumption expenditures index was forecast to increase 2.9%. Federal Reserve officials consider the measure to be the best gauge for inflation, though they watch a number
Customers wait outside of a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders. Geoff Robbins | AFP | Getty Images Best Buy said Thursday that sales grew 36% in the fiscal first quarter, as shoppers’ stimulus-fueled spending spree included consumer electronics. Shares of the company nearly
GBP/USD trims losses as the US dollar pulls back, remains in the range The GBP/USD bottomed before the release of US data at 1.4135 amid a rally of the US dollar across the board. Afterward, the greenback lost strength favoring a rebound in cable back above 1.4150. The intraday bias still points to the downside
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The dollar is holding gains across the board The moves are modest but not really attracting too much attention for the time being, though NZD/USD is dragged down to 0.7240 from near 0.7300 earlier in the day. More on the technical implications for the move on the pair here. Elsewhere, EUR/USD is keeping just below
Daily thread to exchange ideas and to share your thoughts European trading is likely to shape up as a countdown to the US PCE data release later in the day, as the market will watch for any signs to get the inflation debate started once again after a more lackluster week for the most part. Equities and
Goldman Sachs said it no longer saw China as the center of commodities pricing, reasoning the pace of demand recovery in developed markets suggested Beijing as a buyer has been crowded out by Western consumers. “The bullish commodity thesis is neither about Chinese speculators nor Chinese demand growth. It is about scarcity and the DM-led
Yen’s selling took off overnight, following rebound in treasury yields. Weakness is somewhat solidified in Asian session, together with the strong rebound in Nikkei. With some technical levels broken, Yen’s decline could extend before weekly close, and it’d likely end as the worst performing one. As for the week, Canadian Dollar is currently the second
In this article GPS A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Gap said Thursday its fiscal first-quarter sales surpassed pre-pandemic levels, as shoppers turned to Old Navy and Athleta to refresh their wardrobes for summer. The retailer raised its sales outlook for the full year as Gap’s namesake banner