Nasdaq weekly This is a good spot for a bounce in many things. There are many times when the strong hands in the market would step in here; the economy isn’t that bad, there’s no financial crisis and companies are still making money. Yes, the Fed is behind the curve but they have more ammunition
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Tax! Tax! Tax! Everybody in town is talking about the hike in long-term capital gains (LTCG) & short-term capital gains (STCG) and their impact on the portfolio. But let me remind you, still many people in the market are lured by quick profits and are of the view that actively trading can help them generate
Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000.
Coterra Energy missed Wall Street expectations for sales and earnings in the second quarter. However, production volumes and more importantly cash generation both came in ahead of expectations. Revenue in the three months ended June 30 increased 7% year over year to $1.27 billion but came up short versus the $1.33 billion consensus forecast, according
EUR/USD jumps to near 1.0900 as the US Dollar plunges after a weak US NFP report for July. US labor demand appears to have slowed significantly, with slower wage growth. The Euro fails to capitalize on increased doubts over market expectations for two more ECB rate cuts this year. EUR/USD climbs to near the round-level resistance of 1.0900 in
The GBPUSD is higher on the day in sympathy with the dollar selling after the weaker US jobs report. However, the move to the upside did find willing sellers near a swing area target area between 1.2644 and 1.2667. That area did stall earlier rallies this week ahead of the interest cut by the BOE
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Spot gold closed with a loss of 0.23% at $2440 on Friday. However, the metal was up 2.30% on the week, a data and event packed week, as the US yields and the Dollar Index pummeled on the economic concerns. In Friday’s session, initially, spot gold surged on a weak non-farm payroll report and came
The financial markets were marked by significant turbulence this last week again, dominated by risk aversion. Evidence are surfacing that the US economy is heading for a recession, or even hard landing. Speculation is mounting that Fed might be compelled to implement aggressive rate cuts, totaling 75 basis points or even a full percentage point
People walk through a Manhattan mall on July 05, 2024 in New York City. Spencer Platt | Getty Images News | Getty Images Hiring in the U.S. slowed significantly last month, with information and financial sectors registering job losses. The information services sector was a notable weak spot for July, posting a job loss of
Signage outside the Nasdaq MarketSite in New York on March 23, 2023. Stephanie Keith | Bloomberg | Getty Images With second-quarter earnings from tech’s mega-cap companies largely in the rearview mirror, one thing is clear: Wall Street is nervous. The Nasdaq slumped 3.4% this week, bringing its three-week slide to 8.8%. It’s the worst performance
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GBP/USD rallies from daily low of 1.2707 to trade above the 1.2800 mark. Key resistance levels reclaimed: 50-DMA at 1.2787 and 1.2800 mark; next targets are 1.2860, 1.2900, and 1.2950. If GBP/USD falls below 1.2800, it may range between 1.2800 and 1.2700, with further support at 100-DMA (1.2683). The Pound Sterling rallied sharply against the
In this video, I take a technical look at the major currency pairs vs the USD. As a bonus, I also take a look at the 2 major stock indices as traders prepare for the new week. Including (along with the time on the video): EURUSD 0:15 USDJPY 2:15 GBPUSD 3:38 USDCHF 5:25 USDCAD 6:37
Coming off some eye-opening earnings/revenue numbers from Amazon after the close (lower revenues and rumblings of a slower consumer), and a day yesterday where there was a string of bad news, the markets got another dose of “weak” today in the US jobs report. The July 2024 US non-farm payrolls report revealed an increase of
Domestic gold prices jumped by over Rs 1,000 per 10 gram or 1.4% in evening trade, taking cues from the surge in the international markets. Gold’s safe haven appeal was in play after US unemployment data for July was reported higher at 4.3% versus 4.1% in June. Around 7:30 pm, MCX October gold futures were
Risk aversion is intensifying in early US session after non-farm payroll report significantly missed expectations on all fronts. This follows yesterday’s poor manufacturing data, which has already sparked discussions about a hard landing for the US economy. The weak job data is likely to fuel these concerns further, as stock futures are tumbling sharply, pointing
A sign for a health-care career fair at Cape Fear Community College in Wilmington, North Carolina, on Feb. 28, 2023. Allison Joyce | Bloomberg | Getty Images The unemployment rate fell for Asian Americans from June to July, bucking a broader trend, according to data released Friday by the U.S. Bureau of Labor Statistics. The