On Monday, equities on Wall Street closed higher, with the Nasdaq leading the charge with a 1% rally, reaching its highest closing level since July 31. The S&P 500 also registered its highest close since Aug. 1. The Nasdaq rose because Microsoft hit a record high after hiring prominent artificial intelligence executives. Microsoft CEO Satya Read More…
The last time we looked at RTY was almost a month ago as the price just broke below a support trend line. Now, the market for small caps has lagged behind the large cap stocks. Let’s do some technical analysis and see if we expect this gap to close or grow wider. Support and Resistance Read More…
Currency futures rose on Friday while the dollar experienced its second-largest weekly decline against major currencies this year. Concerns about the global economic outlook are growing. At the same time, cooler-than-expected US inflation data on Tuesday and Wednesday increased market expectations for an earlier Fed rate cut. This potential move, expected as early as the Read More…
Introduction The S&P 500 Futures (ES) exhibit strong bullish signals both on the technical side and on the fundamental side. Price is hovering around $4531, with last week closing up 2.1%. ES is only 6.2% away from all-time highs now, and the question is whether we see new highs before the year’s end? Weekly Chart Read More…
Gold surged Thursday, with investors factoring in nearly 100 basis points of US interest rate cuts in the coming year. Thursday’s weak US economic data supported this expectation. Futures markets now indicate 98 basis points of Fed rate cuts for next year, up from 73 bps a week ago. US jobless claims (Source: US Labor Read More…
On Wednesday, oil prices plunged over 1.5% due to a larger-than-expected increase in US crude inventories. Concerns about demand in Asia also contributed to the decline. US crude stocks surged by 3.6 million barrels last week, reaching 421.9 million, significantly exceeding analysts’ expectations of a 1.8 million-barrel rise. Additionally, the weekly government data indicated that Read More…
