TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. The report showcased the off-price retailer’s appeal to bargain-hunting shoppers and prompted us to boost our price target on the stock. Total revenue for the three months ended May 4 advanced 6% year over year, to $12.48 billion, exceeding
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Gold climbs 0.23% on Friday but is set for weekly drop above 3%. US Durable Goods Orders exceed expectations, though March’s revised down data softened the impact. XAU/USD recovers on mixed US data that weighs on US Dollar. Traders now anticipate only 25 basis points of Fed rate cuts in 2024, reducing expectations for easing.
As the week moves to a close, the USDCHF is higher on the week, but did find willing sellers against a topside swing ceiling. That ceiling stalled near 0.9146-0.9156. The price has rotated lower. However, the close support at the 61.8% of the move down from the April/May 2024 high is stalling the decline today
The major US stock indices are all closing higher on the day, however with different variances. The Dow Industrial Average averages closing near unchanged at 39069.58 up 0.01%. The S&P index is closing up 36.86 points or 0.70% at 5304.71. A close short of its record close reached on Tuesday at 5321.42. The Nasdaq index
Spot gold tested a new lifetime high last week due to a combination of factors that have converged to propel the demand for the yellow metal. Multiple catalysts like US rate cut speculation, China’s economic stimulus, and renewed geopolitical tensions attributed to the rise in prices. Prices on the London spot market surged near to
In this article ELF Follow your favorite stocksCREATE FREE ACCOUNT E.l.f Beauty products. Courtesy: e.l.f Beauty E.l.f. Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer’s shares fell as it said it expects its growth to slow. The eyes, lip, face company, known for its viral marketing and
Mexican Peso recovers slightly, breaking three-day losing streak. Mexico’s wider April trade deficit and slower economic growth are reported by INEGI. Banxico minutes show division on rate cuts amid ongoing inflation, emphasizing commitment to price stability. US Durable Goods Orders beat expectations, but March’s figures are revised down heavily. The Mexican Peso snapped three days
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As the week comes to a close, the CAD is ending the day as the strongest of the major currencies. The CHF is the weakest. The USD is mostly lower with modest gains vs the JPY and CHF. The CAD moved higher despite lower than expected retail sales in March. However, the estimate for April
Oil prices crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. The Brent crude July contract was up 41 cents to $81.77 a barrel by 1351 GMT. The more-active August contract was also up 41 cents at $81.52. U.S. West Texas
Euro rebounded notably today despite the absence of substantial news from Europe. Sterling followed suit, shrugging off poor UK retail sales data. Conversely, Dollar ignored upbeat durable goods data and weakened alongside Yen and Swiss Franc. Commodity currencies displayed mixed performance. It appears that traders are lightening up their positions ahead of the long weekend
People walk in the rain over the London Bridge in central London on March 12, 2024. Lucy North – Pa Images | Pa Images | Getty Images LONDON — U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday. Economists polled by Reuters expected a
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. Wall Street was bouncing higher Friday after, as Jim Cramer put it, a “really bad day” in the prior session. Thursday’s late-day decline happened as bond yields rose on
GBP/USD Forecast: Pound Sterling could stretch lower while it remains below 1.2700 GBP/USD closed in negative territory on Thursday and snapped a four-day winning streak. After touching its lowest level in a week below 1.2680 in the early European session on Friday, the pair recovered to the 1.2700 area. The UK’s Office for National Statistics
Crude oil futures are settling at $76.87. That is down $-0.70 or -0.90%.. The low price reached $76.46. The high price reached $78.63. At session highs the price stayed below it’s 100 day-moving average (blue line). At session lows the price did break below the March 11 low at $76.82, the May 8 low at
Barclays notes that markets had “reacted to slightly softer US data in May, as seen in outsized moves to PPI, CPI, and retail sales, with bonds rallying and stocks reaching new highs”. As such, “this will likely trigger more rebalancing needs to sell dollars at month-end”. Adding that “although the broad rally extended to other
Amid rising treasury yields and some profit booking, gold prices on MCX for June futures contracts fell Rs 126 or 0.18% to trade at Rs 71,451 per 10 grams while MCX July silver contracts were up Rs 154 or 0.17% to Rs 90,591 per kg. Gold is experiencing its biggest weekly decline this year after
Dollar’s rebound is gathering momentum, as fueled by yesterday’s data indicating a resurgence in the services sector, which could impede disinflation progress. While fed fund futures still reflect over 50% probability of a rate cut in September, there is now a 0.6% chance of a rate hike—an occurrence not seen for quite some time. Currently,