Canadian Dollar has come under broad pressure in the early US session following the release of the latest inflation data, which showed a further slowdown in inflation, with headline CPI fell to a 40-month low and core measures also easing. This set of data has strengthened market’s expectation that BoC would deliver its third rate
Wall Street’s enthusiastic reaction Tuesday to solid earnings from Palo Alto Networks reinforced our belief that the cybersecurity stock is getting overextended. Shares advanced more than 8% to roughly $372 each in afternoon trading after Palo Alto late Monday posted better-than-expected fiscal 2024 fourth-quarter earnings and revenue, and delivered an upbeat outlook. The roughly 27%
Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand. FORD (F) daily chart August 2023 One year ago, we called that Ford (F) needed more downside as price action stays
Fundamental Overview The Russell 2000 last Thursday managed to break above a key resistance zone following strong US Jobless Claims and Retail Sales data. The market continues to fade the “growth scare” we got at the beginning of August and it’s now looking forward to the Fed’s rate cuts. In fact, the rate cuts into
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Gold October futures contracts at MCX opened flat on Tuesday at Rs 71,513 per 10 gram, which is down by 0.1% or Rs 71 while silver September futures contracts were trading at Rs 84,426/kg, up by 0.1% or Rs 88. In the last 3 days, the prices of gold have gained nearly Rs 1,400/10 gm
Dollar continued its decline overnight as risk-on sentiment prevailed, with S&P 500 and NASDAQ notching their eighth consecutive positive session. Investor optimism has been buoyed by recent economic data suggesting that the US economy is on track for a soft landing, sidestepping a recession. However, it’s important to remember that despite the recent gains, major
After two rough quarters, Palo Alto Networks on Monday evening delivered the type of earnings report we expect from one of the best cybersecurity companies in the world. The stock rose another 2% in after-hours trading. Revenue during Palo Alto’s fiscal 2024 fourth quarter increased 12% year over year to $2.19 billion, beating the consensus
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A combination of factors assists USD/CAD to bounce off a one-month low touched this Tuesday. Sliding Crude Oil prices undermine the Loonie and lend support amid a modest USD recovery. The upside remains capped as traders now look to Canadian inflation figures for a fresh impetus. The USD/CAD pair stages a modest recovery from the
Fundamental Overview The Nasdaq finally erased the entire drop from the last ISM Manufacturing PMI as the market faded the “growth scare”. The first catalyst was the good US Jobless Claims on the 8th of August as that quelled the fears on a deteriorating labour market triggered by the weak NFP report. Last week, we
Markets: Gold down $4 to $2503 US 10-year yields down 2 bps to 3.87% WTI crude oil down $2.13 to $74.52 S&P 500 up 1.0% AUD leads, USD lags It was one of the quietest days of the year in terms of news flow (maybe the quietest) but that didn’t slow the market moves as
Oil eased on Monday, with global benchmark Brent holding below $80 a barrel, as concern over demand in top oil importer China weighed on market sentiment, offsetting risks to supply in the Middle East. On Thursday, data from China showed its economy lost momentum in July, with new home prices falling at the fastest pace
Dollar continues to face broad-based selling pressure as the markets move into US session. Fed Governor Christopher Waller is set to speak, but he is expected to maintain his consistent view that Fed is nearing a rate cut while the economy remains on track for soft landing. The market’s primary focus, however, is squarely on
Job seekers attends the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena on June 26, 2024 in Sunrise, Florida. Joe Raedle | Getty Images In another sign of cracks forming in the U.S. labor market, a New York Federal Reserve survey Monday showed a slide in people reporting they are employed, a
Shortly after the opening bell, we will be exiting our position in Estee Lauder , selling 330 shares at roughly $96.30 Following the trade, Jim Cramer’s Charitable Trust will no longer own a position in EL. We’re selling our remaining small position in Estee Lauder. Shares are slightly higher in pre-market trading, a result we’ll
Oil price on the brink of flipping a negative performance into a positive one for this Monday’s trading day. Prices retreated earlier as traders focused on Chinese demand fears and efforts to get a ceasefire deal in Gaza. The US Dollar Index eases further after hedge funds go long on the Japanese Yen, which appreciates
Fundamental Overview The S&P 500 finally erased the entire drop from the last ISM Manufacturing PMI as the market faded the “growth scare”. The first catalyst was the good US Jobless Claims on the 8th of August as that quelled the fears on a deteriorating labour market triggered by the weak NFP report. Last week,