The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs: Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points. S&P index rose 7.18 points or 0.16% at 4502.89. At session highs, the index was
Oil prices dipped on Wednesday due to expectations of an increase in U.S. crude stocks amid record high output in the world’s biggest producer and despite positive demand signs from top consumer China. Brent futures were down 69 cents to $81.78 a barrel at 1346 GMT, while U.S. West Texas Intermediate (WTI) crude was down
Sterling emerged as the standout underperformer today, reacting notably to the latest CPI data from the UK. This data indicated a more rapid deceleration in both headline and core inflation rates than many had predicted. Such a shift in inflation dynamics is feeding into growing belief among market participants that BoE has reached the pinnacle
In this article TJX Follow your favorite stocksCREATE FREE ACCOUNT A Marshalls store in New York Scott Mlyn | CNBC TJX Companies on Wednesday raised its full-year guidance and said it expects a strong holiday season after inflation-weary consumers drove another quarter of sales gains. The off-price giant, which runs T.J. Maxx, Marshall’s and HomeGoods,
Investors pursuing legal action against Robinhood over trading restrictions imposed in early 2021 have faced another setback in court after the Florida Southern District Court rejected the request for class certification by the plaintiffs on Nov. 13, 2023. Chief Judge Cecilia M. Altonaga said that after thoroughly considering the written submissions, record, and relevant law,
Share: The Dollar plummeted after a softer-than-expected US CPI reading. Economists at ING analyze USD outlook. Dollar slump looks overdone We still think a turn in activity data – more than the disinflation story – is needed to take the Dollar sustainably lower, and the move appears overdone also from a short-term valuation perspective. Today,
CPI data for the month of October came in tamer than expectations with the headline number rising by 0.0% month on month (versus expectations of 0.1%). The core measure rose by 0.2% (versus expectations of 0.3%). Although the year-on-year levels are still above the 2% targets at 3.2% and 4.0% respectively they are well off
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Gold extended gains on Wednesday buoyed by a weaker dollar index (DXY) which slipped below the 105 mark after US inflation data showed a slowing trend bolstering views that the US Federal Reserve is likely done with its rate-hike campaign. The December gold futures were trading at Rs 60,195 per 10 gram, down by Rs
Dollar remains subdued in the aftermath of its significant selloff triggered by CPI release overnight. Market sentiment has swiftly shifted, with the majority now almost ruling out the possibility of further rate hikes by Fed. This shift indicates a growing consensus that current federal funds rate of 5.25-5.50% marks the peak of this cycle. Moreover,
U.S. Federal Reserve Chairman Jerome Powell takes questions from reporters during a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. Evelyn Hockstein | Reuters UBS expects the U.S. Federal Reserve to cut interest rates by as much as
Share: The Canadian Dollar is getting a leg up as markets turn down the Greenback. Canada sees little of note on the data docket this week. Loonie traders aren’t out of the US data woods yet, US PPI and Retail Sales come tomorrow. The Canadian Dollar (CAD) is catching a bid thanks to a forecast
The USD is continuing its tumble lower with the EUR, GBP, CHF, AUD and NZD all down -1.50% or more now. Versus the JPY the USD is down -1.01%. The biggest mover is the NZDUSD which is now up 2.35%. Looking at the daily chart of the NZDUSD, it has now reached and breached its
Activity data from China will be the focus. Base effects are expected to likely cause industrial production to drop, although the consensus is for unchanged (y/y figures). The official manufacturing PMI is in contraction. Base effects too should, on the other hand, help retail sales bounce from Covid-impacted October 2022. The data for the first
The International Energy Agency (IEA) on Tuesday raised its oil demand growth forecasts for this year and next despite an expected deceleration in economic growth in nearly all major economies. Although voluntary supply cuts from Saudi Arabia and Russia until the end of the year will keep supply tight, with demand growth still set to
Investor sentiment is riding high in the wake of the latest US CPI report, with a notable surge in the DOW futures, climbing over 300 points, and a marked drop in 10-year yield, plunging from above 4.6% to below 4.5%. The report presented a picture of easing inflation, with both headline and core inflation rates
Inflation was flat in October from the previous month, providing a hopeful sign that stubbornly high prices are easing their grip on the U.S. economy and giving a potential green light to the Federal Reserve to stop raising interest rates. The consumer price index, which measures a broad basket of commonly used goods and services,
A Ripple executive has re-emphasized the need to adopt a technology-neutral approach for more effective and adaptable guardrails as global regulators grapple with cryptocurrency rules. At the recent Ripple Swell 2023 event, Navin Gupta, managing director of South Asia, Middle East and North Africa (MENA) at Ripple, told Cointelegraph that the industry should be regulated