Author: Bruno T
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Oil Closes Near Stability, Awaiting OPEC+
The oil prices closed with no clear direction but close to stability, after having risen 6% in the last two sessions due to the expectation of further production cuts to be announced by OPEC+ over the weekend. This outlook remains, but the rally has stalled, at least for now. Prices briefly dropped by a little…
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Fed Indicate a Possibility Of Further Interest Rate Hikes If Inflation Doesn’t Decline Sufficiently
Members of the Federal Open Market Committee (FOMC) agreed in their latest interest rate decision that a new hike may be appropriate if economic data received indicate “insufficient progress” in reducing inflation. The information comes from the minutes released today, regarding the last meeting of the authority held in November when the U.S. interest rate…
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Market Reaction: Wall Street dips, Treasury yields inch lower ahead of Fed minutes
On Tuesday, U.S. stocks experienced a slight decline, while benchmark Treasury yields saw a modest decrease due to a lack of significant market-moving factors to sustain the recent multi-session rally. All three major U.S. stock indexes registered declines, with the technology-heavy Nasdaq showing the most substantial drop, as investors eagerly awaited the earnings results of…
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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations
Today, market participants will be closely monitoring the release of the Federal Reserve’s minutes from the November meeting for any new insights into the future trajectory of interest rates. “We are not expecting any major new information, but the minutes could be less dovish than the current market pricing. The minutes are likely to indicate…
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Stocks Set to Open Higher as Investors Await FOMC Minutes and Nvidia Earnings
December S&P 500 futures and December Nasdaq 100 E-Mini futures are up this morning as market participants looked ahead to the release of the minutes of the Federal Reserve’s latest policy meeting as well as earnings from semiconductor stalwart Nvidia later in the week. In the coming week, investors will be monitoring a spate of…
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Stock Index Futures Move Higher as Bond Yields Plunge, Gap Surges on Upbeat Earnings
December S&P 500 futures are up +0.28%, and December Nasdaq 100 E-Mini futures are up +0.06% this morning as U.S. Treasury yields continued to fall after this week’s soft U.S. inflation and jobs data spurred expectations among investors that interest rates have peaked. Today, all eyes are focused on the U.S. Building Permits preliminary data…
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Stocks Slip Before the Open as Weak Earnings Weigh on Sentiment, U.S. Economic Data and Fed Speak in Focus
Today, all eyes are focused on the U.S. Philadelphia Fed manufacturing index in a couple of hours. Economists, on average, forecast that the November Philadelphia Fed manufacturing index will come in at -9.0, compared to the previous value of -9.0. U.S. Export and Import Price Indexes for October will also be in focus today. Economists…
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US Weekly Jobless Claims Rise More Than Expected
The number of Americans filing new claims for unemployment benefits exceeded expectations last week, indicating that labor market conditions continued to show signs of easing. This development could potentially support the Federal Reserve’s efforts to combat inflation. For the week ending November 11, initial claims for state unemployment benefits increased by 13,000 to a seasonally…
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Retail Sales Slip In October As Consumers Pull Back After Summer Splurges
In October, Americans scaled back their retail spending, breaking a streak of six consecutive months of growth. However, this decline was partly attributed to decreasing prices for gasoline and automobiles. According to a report released by the Commerce Department on Wednesday, retail sales decreased by 0.1% last month, following a robust 0.9% increase in September.…
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US Producer Prices Slide 0.5% In October, Biggest Drop Since 2020.
Wholesale prices experienced a significant decline last month as inflationary pressures continued to ease despite a year and a half of higher interest rates. According to a report by the Labor Department on Wednesday, the producer price index, which gauges inflation before it affects consumers, saw a 0.5% drop in October compared to September, marking…