S&P index tests its 100 week moving average The S&P index is trading up 45.11 points or 1.08% at 4196.40. Its high price reached 4202.92. That took the price back above its 100-week moving average at 4200.13. Last week, the price also moved above that moving average level, but closed just below it at 4191.99.
AI image Treasury Secretary Janet Yellen has conjured a few extra days for US politicians to grandstand. She now says that extraordinary measures won’t be exhausted until at least June 5. House Republican leader McCarthy has said his deadline is June 1 but you can never trust a politician. In any case, a deal will
COMEX Gold prices are poised for a third consecutive weekly decline, after notching a 33-month high of $2,085.4 per troy ounce in early May. It has been a painful week for the yellow metal, as hawkish comments from Fed officials, better than expected economic data from US, and progressive talks on the debt ceiling front
In this article AEO Follow your favorite stocksCREATE FREE ACCOUNT A view of an American Eagle Outfitters store in Arlington, Virginia. Erin Scott | Reuters Shares of American Eagle Outfitters dropped fell Thursday, after the company lowered its full-year outlook, even as it matched Wall Street’s quarterly earnings expectations and beat revenue expectations. The mall
Share: US economic strength shown by the latest round of data raises prospects of a June Fed rate hike, boosting the US Dollar. Wall Street climbs despite a rise in Fed’s gauge for inflation, with Core PCE hitting 4.7% YoY. Rising US Treasury bond yields and Fed hawkish commentary could hurt Gold’s recovery. Gold price
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Blockchain startup accelerator Cronos Labs has announced the launch of its second cohort for the Cronos Accelerator Program. The program, backed by a substantial $100 million investment, aims to support early-stage crypto projects by providing mentorship and funding opportunities. According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their
NZDUSD tumble lower this week The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. This week, the RBNZ raise rates by 25 basis points, but the hike was considered dovish as signals of a pause surprised the market.
Markets: WTI crude oil up 96-cents to $72.79 Gold up $6 to $1946 US 10-year yields flat at 3.81% S&P 500 up 1.4% GBP leads, JPY lags The odds of a June Fed hike have risen to 70% from 50% today and that tells the story in FX, with the dollar gaining, though not exactly
The market is exhibiting caution as it awaits a catalyst, precisely the outcome of the US debt ceiling talks, to determine its next directional move. Despite positive developments, we expect the discussions to widely go down to the wire, resulting in extreme volatility. As a result, we expect the crude prices to trade in a
While Dollar engaged in retreat for most of the day, some buying appears to emerge again in early US session. A surprising rise in both headline and core PCE inflation is considered to be a key factor driving this resurgence. While it’s unsure whether that could result in sustainable rally, the sentiment should stabilize the
Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and services and adjusts for changes in consumer behavior, rose 0.4% for the
In this article SNOW Follow your favorite stocksCREATE FREE ACCOUNT The New York Stock Exchange welcomes Snowflake (NYSE:SNOW), on Tues. Dec 21st, 2021, to usher in the first day of winter. NYSE Shares of cloud data platform provider Snowflake slid more than 12% in extended trading on Wednesday after the company issued weak guidance in
Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite. US Dollar corrects after strong rally, giving Oil a backdraught. Oil price steadies on Friday after the previous day’s tumble, as
The strongest of the weakest of the major currencies The AUD is the strongest and the USD is the weakest as the North American session begins.. The currencies are seeing a rebound versus the greenback after the declines this week despite concerns about the US debt ceiling all week. As the deadline for the U.S.
US trading may tail off early today ahead of a three-day weekend but that won’t be before some critical pieces of economic data. We get four numbers to start the day at 8:30 am ET (1230 GMT) including: April PCE April durable goods orders April advance goods trade balance April advance wholesale inventories Earlier this
Gold futures have given negative returns in May, dragged by strength in the Dollar Index (DXY) which is now hovering over 104 against a basket of six major currencies. Yellow metal is likely to take cues from the bullion prices in international markets, going ahead. With the US debt ceiling likely to get resolved soon