This bull market started with tech and it might die with tech. Amazon shares surged higher today on strong cloud revenue but Apple posted slowing sales, including of the iPhone and that has led to a heavy round of profit taking. Shares are down 4.6%. The entire summer run-up in Apple has now been erased
Demand optimism amid production cuts by Opec-plus countries lifted global oil prices to three-month highs. The most active US NYMEX futures gained almost 17% in July, sending prices well above $80 a barrel level. Tighter supply and expectations that the US Federal Reserve is close to ending its monetary tightening cycle, also aided the positive
Last week ended with Dollar taking center stage as the best performer, driven by significant turbulence in the bond markets that sent long-end yields sharply higher and provided a mid-week uplift. Although the greenback experienced a notable pullback following non-farm payroll report, it still stands poised for potential further gains, should the selloff in stocks
Workers install solar panels during the completion phase of a 4-acre solar rooftop atop AltaSea’s research and development facility at the Port of Los Angeles, in the San Pedro neighborhood, on April 21, 2023 in Los Angeles, California. Mario Tama | Getty Images The unemployment rate for Black workers fell slightly in July as the
VMS Eve, operated by Virgin Galactic, returns after the company’s first commercial flight to the edge of space, at the Spaceport America facility, in Truth or Consequences, New Mexico, U.S., June 29, 2023. Jose Luis Gonzalez | Reuters Virgin Galactic reported second-quarter losses on Tuesday that were slightly wider the year-ago period, as the space
Share: EUR/JPY bulls defended the 20-day SMA, and the cross established itself above 156.00. Factory orders from June unexpectedly rise by 7%. BoJ’s hawkish signals and rising Japanese yields may limit the pair’s gains. On Friday, the EUR/JPY traded above the 156.00 zone, boosted by a stronger Euro following industrial data from June but still, bullish
The GBPUSD is higher on the day and in the short term, the buyers are “in play”. Trading above the 100 hour MA tilts the bias in that direction but there is work to do. Looking at the daily chart, the technical picture is more in the buyer’s favor. What I like about it technically,
Bank of America (BofA) outlines three primary reasons why dips in the USDJPY exchange rate are likely to be both shallow and short-lived. Despite the Bank of Japan’s (BoJ) recent adjustments to its Yield Curve Control (YCC), BofA maintains its expectation for USDJPY to rise to 147 by September. Key Points: Unlikely Capital Repatriation: BofA
Highlights of the week ended August 4 included a huge surge in long-dated US yields and a US credit rating downgrade by Fitch. Long-term yields surged to fresh cycle high on increased auction borrowing sizes across the board. Ten-year US yields rose to the highest level since October 2022 as the yields rose to 4.2043%
Jamie Grill | Getty Images Back-to-school shopping hasn’t been easy this year for Lauren Cyr. The mother of three has searched for deals and spread out her shopping across multiple paychecks. Still, the 31-year-old sees higher price tags on everything from backpacks to paper — and the summer ritual is squeezing her family budget more
In this article PINS Follow your favorite stocksCREATE FREE ACCOUNT A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange on the morning Pinterest made its initial public offering, April 18, 2019. Spencer Platt | Getty Images News | Getty Images Pinterest shares sank about 4% after the company’s
Share: Mullen held its shareholder meeting on August 3 but it is unclear whether the company received enough votes for another reverse stock split. July US Nonfarm Payrolls surprised to the downside – weighing on the US Dollar but supporting stocks. S&P 500 and NASDAQ 100 both gain in early Friday trade Mullen Automotive (MULN) stock
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Venture capital interest in cryptocurrency has decreased significantly since the bull run of 2021. At $2.3 trillion in market capitalization, every VC wanted a piece of the industry. The picture is now very different. Another dominant force in the market has attracted the vast majority of venture funding over the past year: artificial intelligence large
The EURUSD wandered lower this week and in the process dipped below the 50% midpoint of the range since the 2021 high on the daily chart at 1.0942. What the price in the EURUSD could not do is stay below the rising 100-day moving average currently at 1.09193. That moving average was tested on Wednesday
Markets: Gold up $8 to $1941 US 10-year yields down 14.5 bps to 4.04% WTI crude up $1.10 to $82.65 EUR leads, CAD lags S&P 500 down 24 points, or -0.5% The initial reaction to the non-farm payrolls report was to sell the dollar but then the market had a look at the higher wage