Wells Fargo extended its recent winning streak to six straight sessions Friday despite missed expectations on third-quarter revenue. Investors focused instead on the bank running leaner and generating better-than-expected profitability. Total revenue for the three months ended Sept. 30 fell 2.4% versus last year, to $20.37 billion, missing analysts’ expectations of $20.42 billion, according to
The Dow Jones climbed into an all-time peak on Friday. US PPI figures showed September producer-level inflation stayed flat overall. Upbeat bank earnings helped to further bolster equities. The Dow Jones Industrial Average (DJIA) rose over 400 points bottom-to-top on Friday, bolstered into a fresh record high of 42,837 after US Producer Price Index (PPI)
If you are confused about the price action, you are not alone. However, technicals often tell the story of the price action, and if you can think of the price action as the dilemma buyers and sellers are facing, that story becomes more clear. IN the NZDUSD, we know the 61.8% was support. I talked
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 eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 39 cents, or 0.5%, to $79.01 a barrel
Risk sentiment appears to have stabilized heading into the weekend, despite stronger-than-expected US inflation data released overnight. The report didn’t cause any significant shifts in market expectations regarding Fed’s rate cuts. Stock markets also showed resilience, with major US indexes closing only slightly lower. Dollar, however, has lost some momentum, turning softer against both Swiss
Alexander Spatari | Moment | Getty Images LONDON — The U.K. economy grew 0.2% in August on a month-on-month basis, flash figures published by the Office for National Statistics showed Friday. Gross domestic product (GDP) came in line with the expectations of economists polled by Reuters, who had forecast growth of 0.2%. Britain’s economic growth
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT CEO of Chase Jamie Dimon looks on as he attends the seventh “Choose France Summit”, aiming to attract foreign investors to the country, at the Chateau de Versailles, outside Paris, on May 13, 2024. Lucovic Marin | Getty Images JPMorgan Chase is scheduled to report
UK GDP expands 0.2% MoM in August, matches estimates GBP/USD battles 1.3050 after the UK data. The UK economy expanded by 0.2% over the month in August, having stagnated for the second consecutive month in July, the latest data published by the Office for National Statistics (ONS) showed on Friday. The reading matched the market
Yields in the US have moved higher with the 10-year yield now up 2.8 basis points and the 2-year yield up 3.2 basis points. In addition, the chance of no change in policy in November reached close to 25% today before rotating back down to 20%. It wasn’t long ago that the market was pricing
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 rose in early Asian trade on Thursday on concerns about potential supply disruptions in the Middle East, with Israel planning to strike oil-producer Iran, and on spikes in fuel demand as a major storm barreled into Florida. Brent crude futures rose 37 cents, or 0.5%, to $76.95 a barrel, while the U.S. West
Risk-on sentiment is back in the global markets, with DOW and S&P 500 surging to new record highs in the latest session. Notably, this rally isn’t limited to just the big tech giants. ETFs tracking both industrials and financials sectors also closed at record highs, signaling that the strength is broad-based, extending across multiple sectors
The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images South Korean tech giant Samsung Electronics said it expects worse-than-expected profit for the third quarter. In guidance released Tuesday, the world’s
The Japanese Yen dropped to a two-month low against the USD amid the BoJ rate-hike uncertainty. Some repositioning trade ahead of the US CPI report prompts profit-taking around the USD/JPY pair. Rising bets for a 25 bps Fed rate cut move in November to limit losses for the USD and spot prices. The Japanese Yen
Fundamental Overview The USD rallied across the board last Friday following the hot US NFP report. The market priced out all the aggressive rate cuts expectations and it’s now finally in line with the Fed’s projections. The focus remains on the economic data. The next key event to watch will be the US CPI report
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
With the ongoing festive season and Diwali around the corner, the prices of gold may be set to touch Rs 80,000/10 gram, believe analysts as the yellow metal has maintained its upward trajectory for the third consecutive year. With Diwali just three weeks away, we are entering a major festival season in India. Traditionally, buying
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