Share: US indexes climbed on Friday, led by chip makers. Investors have pivoted to tech shares to shake off Fed rate tantrum. Markets go haywire as the US Dollar, US equities, and Treasury yields all rise. The Standard & Poor’s drove to a new all-time high of $4,839.58 on Friday as equities broadly rallied as
SPX weekly The S&P 500 just edged above the 2021 all-time high of 4818. A weekly close above that would be particularly bullish. The past two days of buying have been remarkably strong despite higher Treasury yields. On the day, the index is now up 0.8% to 4820, up 40 points. Technically, the weekly close
The weekly Bakers Hughes Rig count shows: Oil rigs -2 to 497 Natural gas +3 to 120 Total Rigs +1 to 620. Crude oil prices are trading down -$0.77 or -1.04% at $73.19 Looking back in time to January 2023, the oil rigs were at 623 (vs 497 today), the gas rigs at 150 (vs
Oil prices drifted lower on Friday after a rally the day before, as geopolitical tensions and disruptions in U.S. oil production from a cold blast were countered by concerns over slow demand growth in China. Brent crude futures fell 17 cents, or 0.2%, to $78.93 a barrel by 0151 GMT, and U.S. West Texas Intermediate
Share: AUD/USD gains 0.34% on positive sentiment, defying a negative housing market report impact. Neutral bias with an upside tilt; breach of 200-DMA at 0.6579 may target 0.6600 and 0.6639. Downside risks include 200-DMA at 0.6579 and the January 17 low of 0.6523 before testing 0.6500. The Australian Dollar (AUD) registers solid gains from the
The AUDUSD moved lower in the first half of the week, with the high for the day reached in the early hours of Monday. The fall bottomed on Wednesday when the price reached a low corresponding to swing highs and lows from November and again in December. Today’s return to that level attracted risk-focused buyers,
US stocks close sharply higher with the S&P index closing at a new record level and above the 4800 level. The NASDAQ index led the way. For the week, the major indices all closed higher for the 2nd consecutive week after sharp declines in week 1 of the 2024 trading year. The final numbers are
NEW YORK -Oil prices were little changed on Friday but headed for a weekly gain, as Middle East tensions and disruptions to oil output offset concerns about the global economy. Brent futures were up a cent to $79.11 a barrel at 11:41 a.m. (1641 GMT). U.S. West Texas Intermediate crude fell 9 cents to $73.99.
Last week’s market development suggest growing skepticism among traders on their own aggressive bets on early rate cut by major central banks. After a batch of economic data from US and UK, as well as the chorus of central banker comments, Q2 is starting to look much less likely for the start of a global
Shoppers walk past shops on Regent Street on the final weekday before Christmas in London on December 22, 2023. Henry Nicholls | Afp | Getty Images U.K. retail sales dropped significantly more than expected in December, in a sign that the economy may have entered a shallow recession in the second half of 2023. The
Share: EUR/USD could be somewhere near 1.1500 by end-2024, economists at ING report. A dose of patience is required We retain a 1.1500 end-year forecast for EUR/USD but see range trading in the near term. While a re-assessment of the aggressively priced European Central Bank easing cycle could in theory be positive for the Euro,
The EURUSD this week trended lower into Wednesday but found support buyers against its 200-day moving average. The moving average was tested on two separate occasions, and each time buyers leaned and pushed the price higher. The subsequent rise has taken the price back to a swing area between 1.08788 and 1.0894. Move above that
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NEW YORK -Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41. For the
Yen’ decline resume today after release of Japan’s latest CPI data, which suggests that BoJ is not be under immediate pressure to exit its negative interest rate policy. . Economists have noted a crucial aspect of Japan’s inflation dynamics: while cost-push inflation is clearly easing, the transition to demand-pull inflation remains unconfirmed. The market’s attention
In this article AXP Follow your favorite stocksCREATE FREE ACCOUNT Stephen Squeri, chair and CEO of American Express, speaks during an Economic Club of New York event in New York on Nov. 10, 2022. Stephanie Keith | Bloomberg | Getty Images American Express CEO Stephen Squeri on Friday said the credit card company saw “good
Share: The late 2023 rally in AUD/USD has faded somewhat in early 2024. Economists at Danske Bank analyze the pair’s outlook. AUD/USD remains firmly in the hands of global risk sentiment With Australian leading indicators pointing firmly downward, and US economic data still remaining solid, we expect relative rates and growth to weigh on AUD/USD
The major US stock indices are opening higher, but often the highs from the premarket trading. Of note today is the S&P index is once again looking to test its high closing level. That level comes in a 4796.57. The high price today has reached 4799.33, but has backed off. Last week the price moved