ADVFN US – Market Content Editor
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Copper Prices Up Due To Supply Concerns
Copper prices are set to end the week higher on supply concerns, while a weaker dollar is also providing support for gold. Copper’s strength has come from supply concerns, with the Panama government looking to shut First Quantum’s copper mine in the country while strikes are affecting production in Peru, according to ANZ. “The decision…
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Oil Edges Lower Following OPEC+ Decision
Oil prices edged lower in the wake of OPEC+’s decision to deepen production cuts and ING said the market reaction indicates concerns that the announced cuts were voluntary, suggesting it’s becoming increasingly difficult for member states to agree on group-wide action. New additional cuts of around 900,000 barrels a day are expected in the first…
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Dollar Tends To Weaken At Year End Says MUFG
The dollar, which has already fallen substantially in November, has a historic tendency to weaken into the year-end, which could be a positive signal for EUR/USD, MUFG said. “There is a seasonal bias that is quite compelling for EUR/USD in December.” In 14 Decembers in the last 20 years EUR/USD gained an average of an…
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S&P 500 Futures Steady as Powell Comments Awaited
Stock futures paused on Friday after a final flourish to a fantastic month, as investors awaited comments from Jerome Powell. The S&P 500 rose 8.9% in November–the best monthly gain since July 2022–as the 70 basis point peak-to-trough decline in the 10-year Treasury was the steepest since the 2008 global financial crisis, according to Goldman…
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US Futures Flat, European Stocks Gain Ahead of Regional PMI Data and US Federal Reserve Chair’s Speech
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average climbed 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.5% in morning trading. Signify rose 6% and Orpea added 3.8%. On the other hand, Viaplay Group Series…
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Top Company News of the Day: TikTok, X, VF Corp, Microsoft
Montana Judge Says TikTok Ban ‘Likely Violates First Amendment’ The social-media app sued after the state passed a law banning TikTok to protect residents’ privacy. Elon Musk’s F-Bombs Make Linda Yaccarino’s Job at X Even Harder Musk’s outburst is “a line in the sand that can’t be undrawn,” one ad-industry insider said. VF Corp. Lays…
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Dow Jumps To Best Closing Level In Over A Year But Nasdaq Dips
After ending the previous session narrowly mixed, the major U.S. stock indexes once again moved in opposite directions during trading on Thursday. While the Dow moved sharply higher to reach its best closing level in well over a year, the tech-heavy Nasdaq finished the day in the red. The Dow jumped 520.47 points or 1.5…
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Crypto this Thursday: Robinhood Aims for British Market, MicroStrategy Expands Investment in BTC, and More
Divergent views: Bitfinex and Pereira analyze the impact of Fed policies and US GDP on Bitcoin’s future Analysts from Bitfinex and Bitget provide different perspectives on the future of Bitcoin (COIN:BTCUSD). While Bitfinex suggests that a pause in the Federal Reserve’s U.S. interest rate hikes at their December 13 meeting could attract more investments in…
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NY Fed President John Williams Stresses Tight Monetary Policy to Tackle Persistent Inflation
New York Fed President John Williams reiterated that the Fed’s benchmark lending rate is at or near its highest level and stated that monetary policy is ‘quite restrictive’ (‘the most restrictive in 25 years’). Speaking at the Bretton Woods Committee conference at the New York Fed, he said he expects it to be appropriate to…
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U.S. Consumer Price Growth Slowed In October
Consumer price growth in the U.S. slowed in line with economist estimates in the month of October, according to closely watched inflation readings released by the Commerce Department on Thursday. The report said the annual rate of consumer price growth decelerated to 3.0 percent in October from 3.4 percent in September. The slowdown matched expectations.…