Category: Latest News
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Service Sector Activity Report Due
The Institute for Supply Management is scheduled to release its report on service sector activity in the month of January at 10 am ET. The ISM’s services PMI is expected to rise to 52.0 in January from 50.6 in December, with a reading above 50 indicating growth in the sector. At 2 pm ET, Atlanta…
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Fading Rate Cut Optimism May Lead To Pullback On Wall Street
The major U.S. index futures are currently pointing to a modestly lower open on Monday, with stocks likely to give back ground following the rally seen to close out the previous week. Traders may look to cash in on the rally seen over the two previous sessions amid fading optimism about the likelihood the Federal…
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US Index Futures Down, Oil Prices Slide – Market Responds to Powell’s Remarks Ahead of Opening Bell
U.S. index futures are down in Monday’s pre-market, reflecting the impact of Jerome Powell’s statements in a CBS interview on Sunday. The Fed chairman tempered expectations for immediate interest rate cuts, signaling a more cautious approach. This scenario precedes a week full of corporate earnings releases and comes in a context of geopolitical tensions in…
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Santander’s Stock Declines Amid Sanctions Evasion Scandal, Boeing 737 MAX Delivery Challenges, and More
Santander (NYSE:SAN), Lloyds Banking Group (NYSE:LYG) – Shares of Santander and Lloyds plummeted -6.5% and -1.90% in Monday’s pre-market, respectively, following reports that Iran used accounts of these banks to clandestinely transfer money as part of a sanctions evasion scheme. Documents revealed that British shell companies associated with a sanctioned Iranian petrochemical firm utilized these…
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Powell Nixes Hope Of March Rate Cut
Federal Reserve chairman Jerome Powell has poured cold water on hopes of a rate cut in March. In an interview with TV show ’60 Minutes’, Powell reiterated comments from the press conference last Wednesday, that the FOMC would most likely not begin cutting rates in March. “The prudent thing to do is…to just give it…
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U.S. Stocks Extend Thursday’s Rally On Upbeat Meta, Amazon Results
Stocks moved sharply higher over the course of the trading day on Friday, extending the recovery rally seen during trading Thursday’s session. The major averages more than offset the steep drop seen on Wednesday, with the Dow and the S&P 500 reaching new record closing highs. The major averages pulled back off their best levels…
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Crypto: Valkyrie Selects BitGo as Custodian, Chainlink Surges 35% in the Week, and More
ARK Invest sees Bitcoin at $2.3 million with asset diversification and market updates ARK Invest predicts that Bitcoin could reach $2.3 million with a reallocation of 19.4% of global assets. The report highlights Bitcoin (COIN:BTCUSD) as an attractive investment, with an annualized return history of 44% over the past seven years, outperforming other assets. ARK…
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U.S Employment Surges, Unemployment Rate Unchanged
The Labor Department released a closely watched report on Friday showing employment in the U.S. surged by much more than expected in the month of January. The report said non-farm payroll employment spiked by 353,000 jobs in January compared to economist estimates for an increase of about 180,000 jobs. Job growth in November and December…
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Futures Give Back Ground Following Jobs Report But Remain Positive
The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to extend the significant rebound seen during the previous session. The markets may benefit from a positive reaction to earnings news from Facebook parent Meta Platforms (META) and online retail giant Amazon (AMZN). Shares of Meta are spiking…
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Amazon Surpasses Analyst Predictions with Stellar Q4 Performance, Stock Rises Over 7%
Amazon (NASDAQ:AMZN) showcased an exceptional performance in the fourth quarter after Thursday’s market close, exceeding analyst predictions and providing a solid outlook for the current quarter, leading to a stock rise of more than 7% in Friday morning’s trading. Amazon reported earnings of $1.00 per share, which exceeded the anticipated 80 cents per share forecasted…