Author: iHub News
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China Outlook Downgrade Jolts Mood
Stock futures fell early on Tuesday as traders awaited the first of a slew of labor data that in coming days will likely set the tone into next week’s Federal Reserve meeting. “Markets have lost a little of their recent poise over the last 24 hours, ” Deutsche Bank said. “There hasn’t been a specific…
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US Futures Slip, European Stocks Mixed Ahead of Economic Data
U.S. futures for the S&P 500 were down 0.2% and futures for the Dow Jones Industrial Average decreased 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 was flat in morning trading. Ericsson B rose 8.7% and ams-OSRAM climbed 5%. On the other hand, Nokia…
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Top Company News of the Day: Meta, IBM, CVS, AT&T
Meta and IBM Launch AI Alliance Meta Platforms and IBM launched a coalition of more than 50 AI companies and research institutions that are pushing a so-called open model of AI, hoping to gain traction in a fast-growing market. CVS Plans to Overhaul How Much Drugs Cost The nation’s largest drugstore chain is set to…
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U.S. Stocks Finish The Day In The Red But Well Off Early Lows
Stocks showed a notable move to the downside in early trading on Monday, giving back ground after turning in a strong performance last Friday. The major averages subsequently climbed well off their worst levels but still ended the day in negative territory. The Nasdaq slid 119.54 points or 0.8 percent to 14,185.49 and the S&P…
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Manufactured Goods New Orders Report Expected
The Commerce Department is scheduled to release its report on new orders for manufactured goods in the month of October at 10 am ET. Factory orders are expected to tumble by 2.6 percent in October after surging by 2.8 percent in September.
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U.S. Stocks May Give Back Ground Following Recent Strength
The major U.S. index futures are currently pointing to a lower open on Monday, with stocks likely to give back ground after ending last Friday’s trading mostly higher. Traders may look to cash in on the recent strength in the markets after the Dow and the S&P 500 ended the previous session at their best…
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Base Metals Pulled Back, Gold Softened
Base metals pulled back, with investors looking ahead to Friday’s U.S. nonfarm payrolls figure and how it will affect Fed policy. “Weaker job numbers on Friday would push the dollar lower and lever our commodity markets higher,” Peak Trading Research said. Gold prices softened, having spiked during the Asian trading hours and after hitting a…
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Oil Futures Down
Oil futures were down more than 1%, giving up Asian gains, on uncertainties around the OPEC+ voluntary output cuts and global demand growth. Meanwhile, geopolitical tensions in the Middle East intensified as Israel resumed combat operations in Gaza and after Iran-backed Houthi forces in Yemen claimed responsibility for attacks against a U.S. destroyer and three…
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Bonds May Fall Further
The 10-year Treasury yield may fall further, based on technical charts, UOB’s Global Economics & Markets Research said. The pace and extent of the 10-year yield’s decline over the past month has exceeded UOB’s expectations, and the 10-year yield could continue to drop over the next two months. However, any further fall will likely encounter…
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Euro Likely To Weaken
The euro is likely to weaken as focus for the currency centers on easing inflation pressures, with a secondary focus on slowing growth, NatWest Markets said. “Both play euro negative against the dollar and on the crosses.” The latest eurozone inflation data, which were much lower than expected, suggest that the European Central Bank needs…