The US stock market rebounded notably overnight, with all three major indexes closing higher. However, this positive momentum didn’t carry over to the Asian session, where major markets are trading mixed. Despite the gains in the US, the price actions this week still appear more corrective than not, indicating that selling pressure has only temporarily
Month: August 2024
The Canada jobs data had something for everyone today. The unemployment rate was steady vs. last month at 6.4%, but lower than the estimate of 6.5%. The employment data showed a decline of -2.8K for the 2nd consecutive month decline, but there was 61K of full time jobs but -64K of part time jobs. So
It seems like ages ago, but on Monday, it seemed like markets were on the precipice. The Japan’s Nikkei 225 index on Monday fell -12.4% and analysts were figuring out where the circuit breakers would be. There were chatter on how the Fed needed to have an emergency meeting and cut rates by 75 basis
Indian Railway Finance Corporation Share Price 179.79 03:59 PM | 9 Aug 2024 -1.13(-0.63%) One97 Communications Share Price 510.85 03:59 PM | 9 Aug 2024 2.36(0.47%) YES Bank Share Price 23.94 03:59 PM | 9 Aug 2024 0.02(0.09%) ITC Share Price 495.9 03:59 PM | 9 Aug 2024 1.15(0.24%) HDFC Bank Share Price 1650.2 03:59
Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits came to a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the
Eli Lilly on Thursday reported a home-run quarter fueled by sales of its blockbuster obesity and diabetes drugs, quieting any lingering investor concerns in the stock. Revenue in the second quarter jumped 36% year over year to $11.3 billion, easily topping expectations of $9.92 billion, according to estimates compiled by LSEG. Adjusted earnings per share
In the year-to-date USD/JPY has traded in a mighty range that has stretched almost from 140 to 162. By contrast EUR/USD has been stuck between 1.06 and 1.10, Rabobank’s FX analyst Jane Foley notes. Potential risks for a break higher coming from a softer USD “The lack of strong direction in EUR/USD is despite a
As we move into US session, safe-haven currencies like Yen, Swiss Franc, and Dollar are showing modest gains, driven by weaker stock futures and treasury yields. However, momentum behind these currencies remains unconvincing, with trading sluggish across the board. Most major pairs and crosses are confined within the ranges established yesterday, reflecting a cautious market
On Wednesday, the USDCHF moved back above its 100-hour moving average and although the price corrected lower into yesterday’s Asian and early European session, the downside momentum found willing buyers near that moving average level. The subsequent rise on the back of higher US stocks yesterday (and the unwinding of the flight to safety flows
The major US stock indices are trading mixed in early action. The NASDAQ and the S&P are little changed. The Dow industrial average is lower. A snapshot of the market 11 minutes into the open and showing: Dow industrial average -125.70 points or -0.32% at 39320.80. S&P index -2.89 points or -0.05% at 5316.41. NASDAQ
Gold price rallied Rs 1,100 to Rs 72,450 per 10 grams in the national capital on Friday, taking cues from the global market and a rise in domestic demand. In the previous session, the precious metal had settled at Rs 71,350 per 10 grams. Silver prices also jumped Rs 1,400 to Rs 82,500 per kilogram
Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida. Joe Raedle | Getty Images Republican presidential nominee Donald Trump on Thursday said that he should have a voice when the Federal Reserve makes its decisions on interest rates. “I feel
In this article PARA Follow your favorite stocksCREATE FREE ACCOUNT The Paramount Studios in Los Angeles on April 29, 2024. Eric Thayer | Bloomberg | Getty Images Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media.
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The Indian Rupee trades on a stronger note in Friday’s Asian session. A deeper Fed rate cut expectation and the potential RBI intervention underpin the INR. Higher crude oil, weakness in its Asian peers and India’s foreign outflows might weigh on the local currency. The Indian Rupee (INR) gains traction on Friday. Traders increasingly expect
The financial markets are relatively quiet in Asian session today, with major currency pairs and crosses trading within yesterday’s range. BoC’s summary of deliberations suggested that the central bank is on track for further policy loosening. Meanwhile, BoJ’s summary of opinions indicated the board is preparing for more rate hikes. Comments from RBA’s Governor reiterated
The scare for lower growth and increasing unemployment was lessened today after initial jobless claims came in lower-than-expected 233K versus 250K last week. Maybe the employment picture is not so alarming after all. If bad data is bad for the market, good data has to be good for the market, and that is what we
Inflation, both CPI and PPI, data from China for July 2024 The m/m PPI is -0.2% This data comes in higher than expected for CPI, and also (not as negative as expected) for PPI. The pick up in consumer inflation moves the danger of deflation in China little further away. It also suggest some improvement
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