Markets continue to be rather mixed as investors are awaiting Fed Chair Jerome Powell’s speech at the Jackson Hole symposium. S&P 500 and NASDAQ surged strongly overnight to new record highs. But Asian markets are mixed, with weakness seen in Japan, Hong Kong and Singapore. Dollar weakens broadly today but selling is so far not
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Kansas City Federal Reserve President Esther George said the recession that began in February could revisit the economy if the coronavirus pandemic intensifies. “An important risk to that outlook is thinking about what happens as we come into the fall, whether we see any resurgence in the virus that would cause an additional pullback in
Nordstrom said Tuesday its net sales fell 53% during the second quarter, as its stores took a hit from being temporarily closed during the coronavirus pandemic, and its online business suffered due to a shift in timing of its annual Anniversary Sale. The company said its stores, including its off-price Nordstrom Rack locations, were closed for
Spartan Black, a major cryptocurrency fund based in Asia, believes Polkadot (DOT) has more fuel left in the tank and could soar in the top-10 list of biggest cryptocurrencies by market capitalization. Since listing on Binance eight days ago, the price of DOT soared by more than 200% and many analysts believe the price could
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Up $0.04 or 0.09% The price of crude oil futures settle that $43.39. That was good enough for a 4% gain or 0.09% rise. The high price for the day reached $43.78 while the low price extended to $43. Technically, the price close above its 200 day moving average for the 2nd consecutive day. That
S&P 500 continues to push higher toward 3,500. Salesforce.Com Inc (CRM: NYSE) surges to all-time highs on upbeat quarterly results. For the third straight day, Wall Street’s main indexes started the day little changed. However, the risk-on market environment on coronavirus treatment optimism provided a boost to stocks and the S&P 500 Index (SPX) touched
Tail -0.9 basis points The US treasury sold $51 billion of 5 year notes at a high yield of 0.298%. That was lower than the WI level of 0.307%. High yield 0.298% vs. WI at 0.307% Bid to cover 2.71x vs six-month average of 2.48x Dealers 17.82% vs. 27.8% six-month average Directs 15.93% vs. 13.6% six-month average Indirects 66.25% vs.
By Alex LawlerLONDON: Oil edged up towards $46 a barrel on Wednesday, close to its highest since March, lifted by U.S. producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in U.S. crude inventories. Renewed worries over the Covid-19 pandemic, which has squeezed demand
Dollar surges broadly in early US session in response to much better than expected durable goods order data. Yet, it’s actually still held well below near term resistance level to confirm bottoming. Gold’s decline is a positive sign for the greenback and we’ll see if there is following buying. Staying in the currency markets, Euro
New orders for key U.S.-made capital goods slowed in July, suggesting the rebound in business investment could become more gradual amid uncertainty about the course of the Covid-19 pandemic, even as the recovery in manufacturing appears to be gaining traction. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans,
An employee of Dick’s Sporting Goods in Destiny USA mall delivers products to a shopper, as customers pick up goods from retailers offering curbside pick up as the coronavirus disease (COVID-19) restrictions ease in Syracuse, New York, U.S., May 15, 2020. Zachary Krahmer | Reuters Dick’s Sporting Goods reported eye-popping quarterly earnings and sales growth Wednesday,
In May, South Korean tech giant Samsung (OTC:SSNLF) filed for a patent titled “Programmable Blockchain Solid State Drive and Switch.” Although details about the recently designed system are scanty, a lot of people in the sector are already pointing out the significance of this technology. It appears like most corporations are also following the trend,
S&P index and NASDAQ go out near highs as well The S&P and NASDAQ index are closing at record highs once again. The broader indexes also traded to new all time high prices today. The Dow industrial average close lower her by Apple and Boeing. The final numbers are showing: S&P index rose 12.37 points or 0.36%
Gold extends its consolidation after moving to $2075/80. Strategists at Credit Suisse remain of the view this is a pause in the core bull trend but that this phase could last a significant while and the yellow metal could yet see a test of support at $1867/37. Key quotes “Gold continues its expected consolidation following
Daily thread to exchange ideas and to share your thoughts The euro and pound are mildly weaker as we get the session underway but nothing that really stands out all too much, with the dollar still looking mixed in anticipation of Fed chair Powell’s speech at the Jackson Hole symposium this week. Major currencies are largely keeping