ADVFN US – Market Content Editor
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Crypto This Tuesday: BlackRock Receives $100,000 for Bitcoin ETF, Robinhood’s Trading Volume Grows 75%, and More
Rise of bitcoin and prospects Bloomberg suggests that Bitcoin’s recent surpassing of the $42,000 mark signals the beginning of a possible “super cycle” that could push its value beyond $500,000. This phenomenon is interpreted as a harbinger of significant transformations in the global financial system. The expectation surrounding the approval of a Bitcoin investment fund…
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Service Sector Activity Report and Job Openings Report Due Out
The Institute for Supply Management is scheduled to release its report on service sector activity in the month of November at 10 am ET. The ISM’s services PMI is expected to inch up to 52.0 in November from 51.8 in October, with a reading above 50 indicating growth. Also at 10 am ET, the Labor…
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Futures Pointing To Extended Pullback On Wall Street
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks poised to extend the pullback seen in the previous session. Traders may continue to cash in on recent strength in the markets amid concerns optimism about the outlook for interest rates have led to overbought conditions. While the Federal…
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Investment Insights: Expert Analyst Opinions on Broadcom, Lululemon, Nike…
Albemarle Corporation: Piper Sandler & Co downgrades to underweight from neutral with a price target reduced from $140 to $128. Barrick Gold Corporation: BNP Paribas Exane maintains a neutral recommendation with a price target raised from $17.10 to $17.80. Broadcom: BNP Paribas Exane maintains its outperform recommendation and raises the target price from $1030 to…
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Bond Yields Could Be Lower In Future
Big downward moves in bond yields aren’t imminent but there is scope for lower yields further out, with higher volatility along the way, Hargreaves Lansdown said. “Investors should not be put off by this outlook–we think this could be the most interesting entry point for bond investors in decades.” There is potential that investors could…
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Base Metals Weaker, Gold Up
Base metals were weaker on worries about the economy and demand for industrial goods, while gold edged up. “The macroeconomic environment is on the bearish side of the ledger,” Peak Trading Research said, citing weakness in crude oil and commodity currencies like the Australian dollar and Brazilian real. Peak added that markets will be looking…
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Oil Edges Higher
Oil prices edged higher amid demand concerns, market skepticism following OPEC+ output cuts and tensions in the Middle East. Prices declined on Monday after OPEC+’s voluntary curbs announcement left traders disappointed, raising questions over compliance and future supply policy. Meanwhile, the Israel-Hamas conflict and a series of attacks in Middle-Eastern waters fueled supply concerns, and…
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Dollar Expected To Recover
The dollar should recover this week as its recent correction lower looks to have gone too far, TD Securities said. Positioning and short-term valuations are stretched, increasing the risk that the dollar rallies if Friday’s nonfarm payrolls data are strong, it added. It also upgraded its view on the dollar until year-end and now expects…
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China Outlook Downgrade Jolts Mood
Stock futures fell early on Tuesday as traders awaited the first of a slew of labor data that in coming days will likely set the tone into next week’s Federal Reserve meeting. “Markets have lost a little of their recent poise over the last 24 hours, ” Deutsche Bank said. “There hasn’t been a specific…
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Moody’s Reassesses China, GitLab Exceeds Estimates, Twilio Plans Major Layoffs, and More
U.S. index futures are falling in the pre-market on Tuesday as investors eagerly await the first in a series of labor data. These numbers are likely to influence the atmosphere surrounding the Federal Reserve meeting scheduled for next week. At 05:20 AM, Dow Jones futures (DOWI:DJI) dropped 64 points, or 0.18%. S&P 500 futures declined…