If artificial intelligence is the future, then Sam Altman was the man delivering it. The CEO of OpenAI, which created ChatGPT, was unceremoniously given his pink slip today. The company released a statement that said: Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in
Goldman Sachs expects Brent prices to average at $92 per barrel (bbl)in 2024, and expects the oil market to tighten at a moderate pace amid solid demand while core OPEC supply remains low. The bank in a note dated Thursday said it expects a 0.7 million barrel per day (mb/d) deficit and a solid 1.6
In this article BABA Follow your favorite stocksCREATE FREE ACCOUNT Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Qilai Shen | Bloomberg | Getty Images U.S.-listed shares of Chinese e-commerce giant Alibaba slid on Thursday after it announced that it would not proceed with
Fidelity, an asset management firm overseeing $4.5 trillion in assets, has become the latest firm to seek approval for a spot Ethereum (ETH) exchange-traded fund (ETF). In a filing with the United States Securities and Exchange Commission (SEC) on November 17, Fidelity proposes to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX
Share: Mexican Peso’s advance against the US Dollar halts, with USD/MXN bouncing from recent lows despite broad-based USD weakness. Banxico officials hint at a less restrictive monetary policy, yet suggesting gradual rate cuts. Upbeat US economic data and Federal Reserve officials’ resistance to early rate cuts propelled the USD/MXN up move. Mexican Peso (MXN) rallies
As the week comes to an end, the USDJPY fell sharply and in the process tested the low from early November at 149.175. The low reached 149.192 before bouncing. The price is trading at 149.74. The double bottom mirrors the double top from the high this week (on Monday). That high was reached on Monday
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices were on track for the fourth straight week of decline as they remained little changed in early Asian trade after slipping about 5% to a four month-low on Thursday on worries over global demand. Brent futures were up 10 cents, or 0.1%, at $77.52 a barrel at 0232 GMT. U.S. West Texas Intermediate
Japanese Yen surged sharply in European session, bolstered by significant dips in Germany’s 10-year government bond yield, which reached its lowest level since early September. Concurrently, US 10-year yield also briefly fell below 4.4% mark. This movement in the bond markets reflects an aggressive stance by traders betting on rate cuts by major central banks
Soaring U.S. government debt is reaching a point where it will begin creating larger problems, Bridgewater Associates founder Ray Dalio said Friday. The hedge fund titan warned during a CNBC appearance that the need to borrow more and more to cover deficits will exacerbate the political and social problems the country is facing. “Economically strong
In this article M Follow your favorite stocksCREATE FREE ACCOUNT Macy’s Herald Square store in New York is shown on Aug. 21, 2023. View Press | Corbis News | Getty Images Macy’s on Thursday topped Wall Street’s quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in sales. The department store
XRP (XRP) price is down today, mirroring trends elsewhere in the cryptocurrencymarket as traders await the Federal Reserve rate decision in the week. XRP price drops amid rising dollar strength On July 24, XRP price dropped 8% to $0.68, underperforming the crypto market’s 3.5% decline on the same day. The XRP/USD pair declined amid growing
Share: The Dollar has entered a consolidative phase. Economists at ING analyze USD outlook. Consolidative phase For today, the focus will be on US housing starts and another batch of Fed speakers. Recent Fed speakers have barely moved the needle on expectations of the Fed policy cycle and instead, it has been the data doing
USD The Fed left interest rates unchanged as expected with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward.
As we look towards the closing stages of the week, the main focus is on the bond market. And with yields slipping further in European trading, it is sparking some broader market moves. Of note, USD/JPY is now down 0.8% to 149.55 while stocks are beginning to pick up some steam on the session. S&P
MCX gold traded with strength on Friday, having hit a fresh lifetime high of Rs 61,914 per 10 gram on Thursday and is set to end with weekly gains for the first time in three weeks. The uptick has ridden on the weaker dollar index (DXY) which has fallen 1.43% in the past five sessions.
As the trading week draws to a close, the forex markets are experiencing a period of relative calm in today’s Asian session. Key developments include Euro’s attempted resurgence against Dollar overnight, which, despite initial signs of a rally, lost its momentum and settled back into familiar range. This pattern of indecisiveness is mirrored by Swiss
In this article WMT Follow your favorite stocksCREATE FREE ACCOUNT Walmart store with gardening products for sale in Atchison, Kansas. Ucg | Universal Images Group | Getty Images Walmart will report quarterly earnings Thursday as the discounter generally outperforms its rivals. Here’s what Wall Street expects from the retailer, according to consensus estimates from LSEG,