NASDAQ snaps four days losing streak. The US stocks rallied into the close with the Dow ending the session at a new record and at the highs of the day. The index is closing up 315.76 points for the fourth higher close in as many days. The NASDAQ index is also closing higher for the first time in five trading days. A
NEW DELHI: Gold prices on Friday hovered near its 2-1/2-month high, aided by a pullback in the dollar and Treasury yields as investors cautiously await US non-farm payrolls data for further cues on the health of the world’s biggest economy. Despite the economic optimism, Federal Reserve policymakers seem unlikely to budge on their accommodative stance
The latest data suggests that China’s economy continues to improve in the second quarter. The Markit/Caixin services PMI increased to 56.3 in April, highest since December 2020. The reading also beat consensus of 54.2 and March’s 54.3. Separately, China’s trade surplus tripled in April, compared with a month ago. Markit/Caixin services PMI Besides the strong
Server Adrian Almanza brings entrees to a table at Satay Thai Bistro and Bar, in Las Vegas, Nevada, March 28, 2021. Bridget Bennett | Reuters Job growth in April could top 1 million, though many positions also may have gone unfilled. Economists expect to see job creation in each of the next several months of
In this article PTON A monitor displays Peloton Interactive Inc. signage during the company’s initial public offering (IPO) across from the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019. Michael Nagle | Bloomberg | Getty Images Peloton on Thursday reported fiscal third-quarter sales growth of 141%, saying recent investments in its supply
AUD/USD failed to build on the previous day’s solid rebound from the 0.7700 round-figure. Suspension of Chinese-Australian economic dialogue continued weighing on the aussie. A modest uptick in the US bond yields extended some support to the USD ahead of NFP. The AUD/USD pair edged lower heading into the European session and was last seen
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What’s expected for the April 2021 non-farm payrolls report Consensus estimate +1000K Private +938K March +916K Highest estimate +2100K (Jefferies) Lowest estimate +700K (Prestige Economics) Average estimate +1035K Standard deviation +203K Unemployment rate consensus estimate: 5.8% vs 6.0% prior Participation rate consensus +61.6% vs 61.5% prior Prior underemployment U6 prior 10.7% Avg hourly earnings y/y
WTI crude oil settles at $64.71. Down $0.92 or -1.4% The price of WTI crude oil futures are settling down $0.92 or 1.4% at $64.71. The pair is closing just below its 100 hour moving average currently at $64.94. Stay below the 100 hour moving average would keep the bears more in control. The high for
Domestic gold prices registered mild gains on Thursday as a weakening dollar overseas made the yellow metal more attractive for holders of other currencies. MCX gold futures (delivery on June 4) traded 0.18 per cent higher at Rs 47,086 per 10 grams at the last count, having risen to as high as Rs 47,263 during
At today’s meeting, the BOE voted unanimously to leave the Bank rate unchanged at a record low of 0.1%. Meanwhile, the central bank voted 8-1 to keep the asset purchase program at 895B pound, of which 875B pound is government bonds. Policymakers also announced to slow the pace of asset purchases so that the program
The U.S. employment picture improved sharply last week, with first-time claims for unemployment insurance dipping below 500,000 for the first time since the pandemic crisis. Initial claims totaled 498,000 for the week ended March 1, against the Dow Jones estimate of 527,000. That was down from the previous week’s total of 590,000, which saw a
In this article PZZA Signage outside a Papa John’s International pizza restaurant in Louisville, Kentucky, on Monday, Feb. 22, 2021. Luke Sharrett | Bloomberg | Getty Images Papa John’s first-quarter earnings topped expectations as the pizza chain held on to the momentum it saw during the coronavirus pandemic, even as the country reopens for business.
US dollar bulls take a breather and the euro advances. All eyes are now turning to the US NFPs on Friday. EUR/USD is currently trading at 1.2057 and higher by some 0.45% on the day travelling between a low of 1.1993 and a high of 1.2071. The dollar dropped to its lowest point in three
Digital Currency Group, the venture capital firm behind some of the biggest companies in blockchain, has become the second-largest shareholder of Streami, a leading cryptocurrency exchange operator in South Korea. Barry Silbert, founder and CEO of Digital Currency Group, explained his rationale for backing Streami: “We expanded our investment in Streami because of their fantastic
Latest data released by Markit – 6 May 2021 The downturn in construction activity continues in April but the thing to note from the report is unprecedented levels of supply disruption, which has caused input price inflation to climb to its highest since survey records began in 1999. Looking at the details, commercial activity continues