ADVFN US – Market Content Editor
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Geopolitical turmoil drives Citi to trim risk exposure
Citi said in a note this week that it is scaling back risk across several macro trades following a sudden spike in volatility triggered by geopolitical developments. Analyst Dirk Willer explained that “geopolitics usually causes very sharp, but short-lived, market disruptions,” but noted that the current market reaction across asset classes “feel like a VAR…
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Three reasons oil stocks may face further downside
Oil stocks have posted strong gains so far this year but have slipped in recent trading sessions, and analysts at Bernstein say the same drivers behind the rally could now push the sector lower. Analyst Bob Brackett highlighted three main factors that typically lead to declines in oil-related equities. “Oil-linked equities have risen year to…
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NorthStrive urges enVVeno to pause clinical spending, calls for shareholder vote on strategic options
An activist investor holding a stake in enVVeno Medical Corporation has called on the company’s board to halt clinical spending and allow shareholders to vote on potential strategic alternatives, including liquidation or a merger. NorthStrive Companies Inc. said its subsidiary NorthStrive Fund II LP, which owns about 5.05% of enVVeno’s outstanding shares, sent an open…
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Escalating Middle East conflict, soaring oil prices and weak payrolls data pressure U.S. market outlook: Dow Jones, S&P 500 and Nasdaq Futures
Dow Jones, S&P 500 and Nasdaq index futures are currently pointing to a sharply lower open on Friday, with stocks likely to see further downside following the weakness seen in the previous session. The futures saw further downside following the release of a closely watched Labor Department report showing U.S. unemployment unexpectedly decreased in the…
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U.S. jobs report shows payroll decline of 92,000 in February as unemployment rate rises to 4.4%
Employment in the U.S. unexpectedly decreased in the month of February, according to a closely watched report released by the Labor Department on Friday. The report said non-farm payroll employment slumped by 92,000 jobs in February after jumping by a downwardly revised 126,000 jobs in January. Economists had expected employment to increase by 60,000 jobs…
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UBS sees limited upside for silver prices over the next year
Silver prices may continue to fluctuate in the coming months but are unlikely to deliver significant gains over the next year, according to strategists at UBS. The bank expects the metal to stabilize modestly above current levels after a strong rally and recent volatility driven by geopolitical tensions. “Silver prices, like gold, have been volatile…
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Ford recalls 1.74 million vehicles in U.S. over rearview camera malfunction
Ford (NYSE:F) is recalling about 1.74 million vehicles in the United States because of a defect that may cause the rearview camera display to fail, potentially limiting the driver’s visibility behind the vehicle, the U.S. National Highway Traffic Safety Administration said Friday. According to the regulator, the issue affects certain Ford Bronco and Ford Edge…
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Oil steadies after five-day rally; prices still poised for weekly jump on Iran tensions
Oil prices recovered from early declines to trade largely unchanged during Asian hours on Friday, while still heading for strong weekly gains as escalating tensions in the Middle East raised concerns about potential disruptions to global crude supplies. As of 01:49 ET (06:49 GMT), Brent crude futures for May delivery slipped 0.2% to $85.25 per…
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Gold heads for weekly drop as stronger dollar offsets safe-haven demand
Gold prices moved slightly higher on Friday but remained on course for a weekly decline, as a stronger U.S. dollar and climbing Treasury yields reduced the metal’s appeal despite ongoing geopolitical tensions in the Middle East. At 04:35 ET (09:35 GMT), spot gold was up 0.4% at $5,101.35 per ounce, while gold futures rose 0.6%…
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Bitcoin dips toward $70K amid Iran conflict but remains on track for weekly gain
Bitcoin (COIN:BTCUSD) edged lower during Asian trading on Friday, though it continued to hold above the important $70,000 threshold as investors remained cautious amid escalating tensions in the Middle East. Rising oil prices linked to the conflict have added uncertainty around global inflation and the future path of interest rates. The largest cryptocurrency by market…