Category: Market Summary
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U.S. Stocks Close Firmly In The Red As Early Buying Interest Evaporates
Stocks moved mostly higher in early trading on Friday but showed a notable downturn over the course of the session. The major averages pulled back well off their early highs, with the tech-heavy Nasdaq (NASDAQI:COMP) showing a particularly steep drop. The major averages staged a failed recovery attempt in the latter part of the session,…
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Payroll: US Creates 275,000 Jobs in February, Surpassing Expectations
The US saw a notable addition of 275,000 nonfarm payroll jobs in February, as reported by the Bureau of Labor Statistics on Friday. Although this figure fell short of January’s 353,000 job gains, it exceeded expectations set by analysts. Analysts’ estimates, according to the LSEG consensus, were for the creation of 200,000 jobs in the…
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U.S. Index Futures Fluctuate Ahead of Key Jobs Report; Oil Prices Dip
In the pre-market trading on Friday, U.S. index futures showed an uncertain trend, following the day when the S&P 500 marked its 16th annual record. Investors are on hold for the February jobs report, eager for new data that could reveal the current state of the American labor market. At 05:47 AM, the Dow Jones…
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Nasdaq, S&P 500 Hit New Record Highs Amid Extended Rebound
Extending the rebound seen during Wednesday’s session, stocks moved sharply higher during trading on Thursday. The major averages further offset the notable pullback seen to start the week, with the Nasdaq and the S&P 500 bouncing back to record intraday highs. The tech-heavy Nasdaq (NASDAQI:COMP) surged 241.83 points or 1.5 percent to 16,273.38, ending the…
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Wall Street in Anticipation: Powell’s Testimony and Upcoming Jobs Data Take Center Stage
Wall Street traders are treading cautiously as they await Federal Reserve Chairman Jerome Powell’s upcoming testimony and the critical jobs data due later this week. Amidst this anticipation, the euro experienced a dip following the European Central Bank’s (ECB) decision to maintain interest rates and lower its inflation outlook. This move has heightened expectations for…
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Tesla Exits Market Top 10, Victoria’s Secret Stock Tumbles 30% on Weak Forecast
Tesla (NASDAQ:TSLA) – Tesla exited the top 10 largest US companies by market cap for the first time in 13 months, surpassed by Visa (NYSE:V). The stock drop reflected concerns about margins and demand. Elsewhere, Tesla announced its departure from Australia’s main automotive lobby, accusing it of misleading consumers about fuel efficiency standards. The company…
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Global Markets Pause Near Record Highs as Yen Surges Amid BOJ Rate Hike Speculation
Global stock markets hovered near all-time highs while the Japanese yen experienced a significant surge as confidence grew that the Bank of Japan (BOJ) would finally begin to raise interest rates in March, making it the last of the major central banks to do so. European stocks remained steady, and Nasdaq 100 futures saw a…
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U.S. Stocks Move Back To The Upside Following Powell Testimony
Following a notable pullback to start the week, stocks moved mostly higher during trading on Wednesday. The major averages all moved to the upside on the day but remain well off their recent record highs. The major averages finished the day off their highs of the session but still in positive territory. The Nasdaq (NASDAQI:COMP)…
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Powell Expects Fed Rate Cuts, Warns Inflation Progress Uncertain
Federal Reserve Chair Jerome Powell said on Wednesday that the ongoing progress of inflation is “not guaranteed,” although the central bank still expects to lower its benchmark interest rate this year. “If the economy evolves as expected, it will likely be appropriate to begin easing monetary policy at some point this year,” Powell stated in…
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U.S. Stock Futures Gain Ahead of Economic Insights; Oil Prices Climb
U.S. index futures signal a higher opening after two days of declines, with the market focusing on the ADP survey and the Fed’s Beige Book, seeking clues about the future economy and monetary policy. At 05:31 AM, Dow Jones futures (DOWI:DJI) rose 92 points, or 0.24%. S&P 500 futures advanced 0.39%, and Nasdaq-100 futures increased…