Category: Latest News
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Dollar Likely To Stay Stuck In Tight Range
The dollar is likely to stay stuck in a tight range for now as market participants await key interest-rate announcements by central banks over the next two weeks. Investors are likely to wait for these key events “before riding more sustained trends,” UniCredit Research However, it expects the dollar will continue to retain a “bullish…
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Tech Likely to Lead Stocks Higher Again
Stock futures were pointing higher on Friday, with the S&P 500 eyeing fresh highs. Tech stocks are expected to lend a hand, with enthusiasm for the sector set to continue. “Reflation trade is not happening, long technology is the most crowded trade of the moment,” Swissquote Bank said. “The Nasdaq-100 net long positions are at…
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Wall Street Highlights: Macy’s Announces Job Cuts, iRobot Shares Plummet Due to Planned Acquisition Block, and More
In the pre-market on Friday, U.S. index futures are rising, extending the increase seen the day before, when the government avoided a shutdown with funding through March. Today, investors await earnings from major financial institutions, as well as data on sales of existing homes and consumer sentiment. At 05:43 AM, the Dow Jones futures (DOWI:DJI)…
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Top Company News of the Day: BASF, Amazon, TSMC, Cummins
BASF Results Miss Forecasts BASF reported preliminary figures for 2023 that were below the company’s guidance and consensus expectations, hit by write-downs and sales of lower-margin products. EU Commission Intends to Block Amazon’s iRobot Acquisition The European Union’s competition watchdog is weighing the tech giant’s $1.7 billion bid to purchase Roomba maker iRobot. One of…
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Technology Stocks Lead Rebound On Wall Street
Stocks moved mostly higher over the course of the trading day on Thursday, largely offsetting the weakness seen to start the week. The major averages all moved to the upside, with the tech-heavy Nasdaq leading the advance. The major averages reached new highs late in the session, closing firmly in positive territory. The Nasdaq surged…
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Crypto: GBTC Outflows Boost ETF Alternatives, Trump’s Stance Against CBDCs, and More
Opposing trends: Cryptocurrency decline and dollar rise after Bitcoin ETFs The recent approval of Bitcoin ETFs has generated a surge in trading volume in the cryptocurrency market. However, an unexpected premium on spot Bitcoin points to an unusual market. The price of Bitcoin, undergoing an ongoing correction, has been exacerbated by growing risk aversion among…
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US Unemployment Benefits Decrease Unexpectly
The Labor Department released a report on Thursday showing an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended January 13th. The report said initial jobless claims fell to 187,000, a decrease of 16,000 from the previous week’s revised level of 203,000. Economists had expected jobless claims to inch up to…
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U.S. Stocks May Regain Ground In Early Trading
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to regain ground after moving mostly lower over the two previous sessions. Traders may look to pick up stocks at somewhat reduced levels following the pullback seen to start the week, which dragged the Dow down to its…
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Gold and Base Metals Slightly Up
Base metals and gold rose slightly on a softer dollar, but weakening expectations of early interest-rate cuts this year continued to weigh on sentiment. “Concerns about resurging inflationary pressures due to geopolitical uncertainty in the Middle East, combined with a robust economy, suggest that the Fed may not need to rush into implementing monetary policy…
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Oil Prices Up Slightly
Oil prices inched higher following OPEC’s growth expectations for demand, and as Middle East tensions and a cold blast in the U.S. raised concerns over supply disruptions. “For now, the flat price remains firmly below $80/bbl and with the balance expected to be fairly comfortable over 1H24, significant upside is probably limited,” ING said.