ADVFN US – Market Content Editor
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Gold Prices Slide
Base metals and gold prices were sliding, with investors awaiting key central bank meetings due later this week. “The macro environment is a tug-of-war between the dovish Fed and risk-on trading and lower growth/demand expectations,” Peak Trading Research said. Investors will be looking to see how Tuesday’s U.S. consumer inflation data as well as ECB…
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Oil Prices Rise
Oil prices rose as U.S. demand outweighed worries over weak global growth. Prices gained some support after the U.S. energy department said Friday that it will refill its strategic petroleum reserve through to May, hoping to buy 3 million barrels of crude in March. Still, worries remain over demand, with Brent down 17% this quarter,…
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Dollar Weakens Against Euro
The U.S. economy is expected to slip into a recession next year, prompting the Fed to start cutting interest rates before the ECB and causing the dollar to weaken versus the euro, LBBW Research said. A recession should help U.S. inflation approach the 2% mark in 2H, and “against this backdrop, the Fed is likely…
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Investors Await CPI Data, Fed Meeting This Week
Stock futures were struggling for traction on Monday as investors looked ahead to a busy week on the economic front, with consumer prices and the last Federal Reserve meeting of the year ahead. Economists expect November consumer prices, due Tuesday, will show soft headline inflation, but a firm core reading. Producer prices are due on…
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$5.8 Billion Offer for Macy’s, Cigna Ends Acquisition Negotiations, and More
U.S. index futures were slightly down in pre-market trading this Monday, in a week marked by monetary policy decisions, the last meeting of the Federal Reserve of 2023. The yield on 10-year Treasury bonds was at 4.254%. In the commodities market, West Texas Intermediate crude oil for January fell 0.67% to $70.75 per barrel. Brent…
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US Futures Edge Down, European Stocks Mixed
U.S. futures for the S&P 500 were down 0.1% and futures for the Dow Jones Industrial Average fell 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 was flat in morning trading. MorphoSys rose 12.5% and Uniper climbed 10%. On the other hand, THG dropped…
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Top Company News of the Day: Boeing, IBM, Micron, Macy’s
Boeing Has a Frontrunner to Be Its Next CEO Stephanie Pope is expected to be promoted to operating chief, making her the likely successor to CEO David Calhoun. New York Joins IBM, Micron in $10 Billion Chip Research Complex The project at the Albany NanoTech Complex will use advanced chip-making equipment from Dutch company ASML.…
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U.S. Stocks Close Mostly Higher Following Early Volatility
Stocks fluctuated early in the trading day on Friday but moved mostly higher over the course of the session. The major averages added to the gains posted during Thursday’s session, reaching their highest closing levels in well over a year. The major averages reached new highs late in the session but gave back some ground…
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Crypto: Safe Recovery Hub Revolutionizes Crypto Recovery, Bitcoin Stays Above $43,000, and More
Bitcoin rises moderately with surprising improvement in the US job market The latest data from the United States job market showed a notable improvement, with the unemployment rate falling to 3.7%, surpassing expectations of around 3.9%. Furthermore, there was a significant increase in non-farm payrolls, reaching 199,000, exceeding the forecast of 180,000. These indicators reflect…
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US Employment Up In November
Employment in the U.S. increased by more than expected in the month of November, according to a highly anticipated report released by the Labor Department on Friday. The report said non-farm payroll employment jumped by 199,000 jobs in November after rising by 150,000 jobs in October. Economists had expected employment to climb by 180,000 jobs.…