The mega-cap tech stocks, which saw a robust start in 2023, are now grappling with massive trillion-dollar losses, leaving their shareholders concerned. Wall Street’s unease over surging bond yields and higher interest rates has cast a shadow on these companies. Traders are now pondering the potential impact on Bitcoin (BTC) if the S&P 500 downtrend
Month: October 2023
Share: EUR/GBP falls from a 5-month high of 0.8754, currently trading at 0.8705. Eurozone inflation drops to 2.9% in October, while GDP for Q3 misses forecasts, contracting by 0.1%. The Bank of England is expected to keep rates unchanged at 5.25% on November 2, as traders priced in rate cuts towards the end of 2024.
The USD is now the strongest of the major currences The USD continues its run to the upside in the US session and is now the strongest of the major currencies. At the start of the New York session, the greenback was near the middle of the “strongest to the weakest” table with the rise
The major US stock indices have now erased earlier declines. Each of the indices are now higher on the day. Dow industrial average was down -141.85 points at session lows. It is currently up 46.45 points or 0.14% at 32974.63 S&P index was down -13.71 points at session lows. It is currently up 29 points
Oil prices were steady on Tuesday as a drop in euro zone inflation was balanced by higher OPEC output. December Brent crude futures, were 21 cents, or 0.24%, higher at $87.66 a barrel by 1342 GMT ahead of their expiry later on Tuesday. The more heavily traded January contract rose 7 cents, or 0.08%，to $86.42.
Yen continued to face significant pressure in early US session, remaining as the day’s weakest performer. Hopes of substantial changes from BoJ were dashed earlier as it made only a minor adjustment to the definition of yield cap. The selling sentiment intensified following revelation that Ministry of Finance refrained from spending on interventions between September
In this article PFE Follow your favorite stocksCREATE FREE ACCOUNT CFOTO | Future Publishing | Getty Images Pfizer on Tuesday reported a narrower than expected adjusted loss for the third quarter as the drugmaker recorded charges largely related to struggles for its Covid antiviral treatment Paxlovid and Covid vaccine. Pfizer said that it recorded a
Share: Economist Lee Sue Ann and Markets Strategist Quek Ser at UOB Group suggest GBP/USD is now seen trading within the 1.2085-1.2240 band in the next weeks. Key Quotes 24-hour view: We expected GBP to trade in a range of 1.2085/1.2155 yesterday. GBP dipped to a low of 1.2090 before staging a surprising sharp rise to
Last week, the risk sentiment started on a positive note at the beginning of the week due to the lack of a ground offensive in Gaza. Unfortunately, things went south from Wednesday onwards as Israeli PM Netanyahu delivered a speech where he said that they were preparing for a ground invasion. Moreover, the US Jobless
There will definitely be a lot to say, now especially as the Japanese yen has fallen in the aftermath of their policy decision today. But I reckon Ueda will continue to maintain that they do acknowledge firmer inflation developments but they’re not at a point yet to abandon easy policy altogether. Essentially, it should be
Gold fell on Tuesday ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) meeting which begins later today as investors await the outcome. The trade is expected to remain in a narrow range. MCX December gold futures were trading at Rs 61,140 per 10 gram, down by Rs 140 or 0.23% from the
Japanese Yen experienced a sharp decline following BoJ’s’s (BoJ) subtle adjustment in its language regarding the yield cap. This move has failed to meet market expectations, pushing Yen back below 150 mark against Dollar. Given this backdrop, there’s potential for Yen’s decline to extend past last week’s low, reflecting the broader market sentiment. Amidst this,
The U.S. government’s borrowing needs will decline slightly in the final three months of 2023 from the prior quarter, a potentially important development during a turbulent time for the global bond market. In a closely watched announcement Monday afternoon, the U.S. Department of the Treasury said it will be looking to borrow $776 billion, which
In this article PINS Follow your favorite stocksCREATE FREE ACCOUNT A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange on the morning Pinterest made its initial public offering, April 18, 2019. Spencer Platt | Getty Images Pinterest reported third-quarter earnings on Monday that beat on the top and
The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was whether or not Luna is a security. Shin
Share: Japanese Yen strengthens (USD/JPY lower) on Nikkei report. The week ahead includes key meetings of the Bank of Japan and the Federal Reserve. USD/JPY falls 100 pips on BoJ yield curve rumor. The Japanese Yen (JPY) surged against against the US Dollar on Monday but is now clinging onto the 149.00 handle. The USD/JPY crashed after Nikkei Asia reported
Last week, the risk sentiment started on a positive note at the beginning of the week due to the lack of a ground offensive in Gaza. Unfortunately, things went south from Wednesday onwards as Israeli PM Netanyahu delivered a speech where he said that they were preparing for a ground invasion. Moreover, the US Jobless
US dollar index The US dollar is near the session lows across the board today, in a reversal of the recent trend. Here are three reasons why: 1) Sell the fact on the Gaza ground invasion The events in the Middle East this month have been awful but when it comes to war, the fear
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