Category: Include on Menu
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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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US trade deficit up 5.1% to $67.4B in January
The goods and services trade deficit in the United States reached $67.4 billion in January, rising 5.1% from December, according to the latest report by the Census Bureau on Thursday. Exports grew 0.1% on a monthly basis in January, standing at $257.2 billion. Meanwhile, imports were up 1.1% month-on-month, amounting to $324.6 billion. Compared to…
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European Central Bank holds interest rates steady
The European Central Bank (ECB) shared on Thursday that it will keep its interest rates unchanged for the fourth consecutive time in a row since last year. The interest rate on the main refinancing operations will remain at 4.50%, on the marginal lending facility and the rate on the deposit facility being kept at 4.75%…
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US initial jobless claims unchanged at 217,000
Initial jobless claims in the United States for the week ending March 2 came in at 217,000, unchanged from the previous week’s revised level, the Department of Labor said in its report published on Thursday. The 4-week moving average was 212,250, decreasing by 750 week-on-week. The insured unemployment rate came in at 1.3% for the…
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EU regulators seek details of escalating Apple, Epic Games spat
Apple (NASDAQ:AAPL) has been asked to explain why it prevented Fortnite video-game maker Epic Games from launching its own online marketplace on iPhones and iPads in Europe and whether this breaches EU technology rules, EU antitrust regulators said on Thursday. “We have requested further explanations on this from Apple under the DMA (Digital Markets Act),”…
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U.S. Index Futures See Modest Gains, Oil Prices Slip
U.S. index futures rose modestly in pre-market trading on Thursday, with investors’ attention focused on Federal Reserve Chairman Jerome Powell’s second day of testimony before the U.S. Congress. Meanwhile, the market is in anticipation of the important employment and payroll report, scheduled to be released on Friday, waiting for signs that could influence future monetary…
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Hedge Funds Surge into Global Equities, Goldman Sachs Reports
In a notable shift in investment strategy, hedge funds have accelerated their purchases of global equities at the fastest pace seen in nearly a year, according to a recent report by Goldman Sachs. This surge in buying activity spans major stock markets from the U.S. to Japan, signaling a growing bullish sentiment among investors. Goldman…
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Market Movements: Analysts Adjust Stock Ratings and Targets
In the ever-evolving landscape of the stock market, analysts from top research firms have released a slew of updates, impacting how traders might view their investment strategies. Here’s a roundup of some notable shifts: Advanced Micro Devices, Inc. (AMD) has seen a downgrade by DZ Bank AG Research, moving from a “buy” to a “hold”…
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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…