Equities rose slightly on Monday as traders focused on upcoming corporate earnings and a crucial employment report this week. Notably, Apple Inc and Amazon.com will report on Thursday, along with other well-known companies like Caterpillar Inc, Starbucks Corp, and Advanced Micro Devices. Florian Ielpo from Lombard Odier Investment Managers remarked, “Markets are becoming more sensitive Read More…
Currency futures rose on Friday as the dollar declined against major currencies after new data showed a slowdown in inflation. Investors were also closely monitoring multiple central bank decisions last week to gain insights into the future of monetary policy. US inflation (Source: Bureau of Economic Analysis) In June, US annual inflation rose at its Read More…
A stronger dollar and rising bond yields caused gold prices to drop over 1% to a two-week low. Spot gold declined by 1.4% to $1,943.89 per ounce, while US gold futures fell 1.36% to $1,943.40 per ounce. The US dollar gained ground on Thursday, driven by news of stronger-than-expected economic growth in the country, despite Read More…
On Wednesday, oil prices dropped by approximately 1% due to two factors. Firstly, data revealed that US crude inventories fell less than anticipated. Secondly, the Federal Reserve raised interest rates by 0.25 percentage points. Earlier in the session, oil experienced a decrease of more than $1, despite reaching three-month highs on Tuesday. WTI futures (Source: Read More…
US equities ended Tuesday higher as The Nasdaq, a technology-heavy index, drove gains. Investors were excited about artificial intelligence, anticipating earnings reports from tech giants Alphabet and Microsoft. Both Alphabet and Microsoft have introduced various AI products since the release of ChatGPT by OpenAI, which is backed by Microsoft. These new products offset the slowdown Read More…
On Monday, the Dow Jones Industrial Average led the upward trend on Wall Street, achieving its longest winning streak in six years. Investors showed confidence in various sectors, not just technology, amidst a week filled with earnings reports and a Federal Reserve meeting. They are eagerly anticipating the earnings of Microsoft, Google-owner Alphabet, and Meta Read More…
Currency futures fell on Friday as the dollar rose amid expectations of a Fed rate hike. The dollar recovered from its July lows in the last week. Dollar spot index (Source: Bloomberg) This week, central bank meetings will occur in the United States and Europe, with the Fed and the European Central Bank expected to Read More…
On Thursday, gold prices retreated from a two-month high due to a rise in the dollar and bond yields. However, the decline was limited as hopes persisted for a potential pause in US Federal Reserve rate hikes after the July meeting. According to David Meger, director of metals trading at High Ridge Futures, the rebound Read More…
On Wednesday, oil prices declined slightly as investors took profits, following earlier gains driven by tighter US crude supplies and China’s commitment to boosting economic growth. Oil had risen by more than $1 a barrel but lost later in the session. Phil Flynn, an analyst at Price Futures Group, stated that market participants capitalized on Read More…
US equities made gains on Tuesday, partly fueled by strong bank earnings. The Dow was on track for its longest streak of daily gains in over two years. Morgan Stanley shares surged by 6.45%, marking their largest one-day percentage increase since November 9, 2020. The bank exceeded expectations, with growth in its wealth management business Read More…
