Category: Latest News
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Oil Futures Surge Over 2% Following Announcement of Resumption of Maritime Traffic in the Middle East Region
The lack of disruptions in oil supply is offsetting the support for current prices due to geopolitical tensions in the Middle East, said UBS analyst Giovanni Staunovo, adding that trading was weak and within a narrow range, typical of holiday periods. Danish shipping company Maersk is preparing to resume maritime operations in the Red Sea…
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Chicago Fed: Economy Picked Up Pace in November
U.S. economic growth picked up pace in November as production improved, data from the Federal Reserve Bank of Chicago showed Tuesday. The Chicago Fed National Activity Index rose to 0.03 in November, improving from a revised minus 0.66 in October, with the majority of indicators marking improvement. The reading below zero suggests economic activity is…
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Stock Index Futures Tick Higher on Expectations for Fed Rate Cuts Next Year
March S&P 500 E-Mini futures are up +0.14%, and March Nasdaq 100 E-Mini futures are up +0.18% this morning as trading resumed after the Christmas holiday, with investors looking ahead to earlier and deeper interest rate cuts from the Federal Reserve next year following a cooler-than-expected U.S. inflation report last week. In Friday’s trading session,…
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Intel Secures $3.2 Billion Government Grant for Its $25 Billion New Chip Plant in Israel
The Israeli government has committed to providing a $3.2 billion grant to Intel (NASDAQ:INTC)Corp for its planned $25 billion chip manufacturing facility in southern Israel, as announced by both parties on Tuesday. This development is concurrent with the ongoing conflict between Israel and the Palestinian militant group Hamas, following an attack by Hamas on Israel…
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Asian Markets Advance in Holiday-Thinned Trading But Chinese Shares Slip
Most Asian markets experienced a rise in limited holiday trading on Tuesday, with certain regional markets closed for holiday observances. U.S. futures and oil prices saw a modest uptick. In Asia, the Shanghai benchmark led the downturns, driven by significant sell-offs in technology and semiconductor stocks amid renewed concerns over trade frictions with the U.S.…
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Unemployment, PMI and Other Can’t Miss Items This Week
Last week the market finished green again with the S&P 500 finishing up almost 1%. This makes it the 8th consecutive week with the SPY finishing higher than it opened. Two of the big events last week were the Fedex (FDX) earnings and the PCE release Friday morning. Fedex missed earnings and revised down the future forecasts which…
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Iron Ore Skyrockets Amid Stimulus Expectations and Robust Demand Forecast
Iron ore futures experienced an uptick on Tuesday, fueled by optimism over potential economic stimulus actions aimed at revitalizing the Chinese economy and the expectation of sustained demand. Closing at 980.5 yuan ($137.22) per metric ton, the most actively traded May iron ore contract on the Dalian Commodity Exchange (DCIOcv1) saw a 1.3% increase, recovering…
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Top Company News of the Day: AstraZeneca, Maersk, Amazon, Ben & Jerry’s
AstraZeneca to Buy Gracell Biotechnologies AstraZeneca has agreed to buy Gracell Biotechnologies for a transaction value of $1.2 billion, as part of the former’s efforts to grow its cell therapies business. Fog at Chicago’s Midway Airport Scuttles Southwest Holiday Flights The airline canceled hundreds of flights Sunday and more than 100 on Monday as it…
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U.S. Stocks Close Narrowly Mixed Ahead Of Christmas Weekend
After an early move to the upside, stocks fluctuated over the course of the trading session on Friday before eventually ending the session narrowly mixed. The Nasdaq and the S&P 500 closed modestly higher, while the narrower Dow edged slightly lower. While the Dow slipped 18.38 points or 0.1 percent to 37,385.97, the Nasdaq rose…
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Supply Constraint Worries Push Metals Prices Up
Metals were higher on concerns over supply constraints and a broadly improved market sentiment. Sucden Financial said seasonal activity is expected to pick up in the new year for copper and support prices above the $8,600 a metric ton level. Meantime, gold made solid gains on a weaker dollar, weighed by the prospect of Fed…