Ethereum: USD/ETH (ETH=) will now either see a sharp breakout to the upside or to the downside Ethereum (ETH) is finally close to its next big move that we have been waiting to come to fruition for weeks. The symmetrical triangle on the 4H chart will now either see a sharp breakout to the upside […]
Negotiations to resolve a three-week-old strike at General Motors for better pay, benefits and job security have taken “a turn for the worse,” a top negotiator with the United Autoworkers Union said Sunday. “After making some progress on important issues a couple days ago, the company has shown an unwillingness to fairly compensate the great […]
United States Oil (USO) traders fearing the global economic slowdown will weigh on future demand Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China […]
Tesla, Inc. (NASDAQ:TSLA) fell short of its target 100,000 deliveries he news last week Tesla Inc. fell short of its target 100,000 deliveries for the third quarter of the year is giving birth to dire predictions about the future of the world’s largest maker of electric vehicles (EVs). The direst by far was made public […]
Most markets rose in Asia Monday after a mixed US jobs report eased worries about a recession in the world’s top economy by maintained expectations the Federal Reserve will press ahead with more interest rate cuts. However, there was some nervousness after reports said China had cut back on the number of areas it is […]
After a brief surge during his first years in office, and despite his lofty promises, the American manufacturing rebound has begun to crumble under President Donald Trump. Auto plants and steel mills are shutting down. Companies are announcing layoffs and furloughs. Factory output is in the red. The year-end outlook is grim, whipping up fears […]
Japanese Yen: USD/JPY (JPY=X) Fed Minutes Will Be Eyed Closely There are no major reports from Japan this week so the data from the U.S. will dictate the direction of the USD/JPY. Basically, lower Treasury yields and weaker stock prices will be bearish for the Forex pair. A drop in yields and trader demand for […]
Hong Kong: HANG SENG INDEX (.HSI) Falls on Emergency Law Hong Kong stocks fell on Friday after the city’s leader Carrie Lam announced a ban on face masks, effective October 5, amid more than four months of pro-democracy, anti-government protests. The Nikkei 225 regained 68.46 points, or 0.3%, to 21,410.20 The Japanese yen, often seen […]
Silver 1 OZ 999 NY (XAG=X) weaken on decent U.S. jobs data Gold and silver prices are modestly down in early U.S. trading Friday, following what the marketplace perceives to be a generally upbeat U.S. employment report—even though the key non-farm payrolls number came in slightly lower than expected. December gold futures were last down $3.50 an ounce […]
Gold 1 OZ (XAU=X) Prepares For Next Phase Of Bull Market After a brief respite last month, fear and uncertainty have returned with a vengeance in October. Recent world events have given investors plenty of reasons to fear an expansion of the global trade war. Meanwhile on the domestic front, investors are becoming increasingly alarmed […]
British Pound: USD/GBP (GBP=X) key events include monthly GDP and manufacturing production The pound managed to post gains despite gloomy British indicators. British GDP declined by 0.2% in the second quarter, marking the first time the economy has contracted since 2013. Manufacturing PMI improved to 48.3, but this marked a fifth straight month below the […]
Australia: S&P/ASX 200 (.AXJO) brutal change in sentiment, triggered by an outsized wobble on US and European markets The 3 per cent fall on the ASX200 over the week — the sharpest retreat in almost a year — was a fairly abrupt and brutal change in sentiment, triggered by an outsized wobble on US and European markets. […]
Euro: USD/EUR (EUR=X) to be moved by German data The Euro-to-Dollar exchange rate is trading at around 1.0976 at the start of the new week after rising 0.33% in the week before. Studies of the charts are showing the potential for marginal upside in the short-term followed by a mixed outlook thereafter. The new short-term […]
Bitcoin: USD/BTC (BTC=X) Holders May be Tempted to Fractional Reserve Practices Eric Wall, a cryptocurrency expert, warns that there is nothing to stop bitcoin owners from effectively expanding the supply. This could happen in the manner of banks, which hold onto a portfolio of assets, but can also lend them without losing control. Wall believes […]
Ethereum: USD/ETH (ETH=) price moves between $185 and $171 in the last week Ethereum has been one of the high performing assets this year. The coin moved as high as $318 in the past 90-days. ETH started the year trading at $134 and it is currently moving above this value. It may cross past $185 […]
Australian Dollar: USD/AUD (AUD=X) RBA remains busy, as policymakers lowered rates for the third time since June The RBA remains busy, as policymakers lowered rates for the third time since June. The Aussie lost ground after the move, but recovered late in the week. Building Approvals declined 1.1%, marking a third successive decline. Retail sales […]
As tariffs loom on $7.5-B worth of tariffs on European goods, leaders in those countries “respect” President Trump and how his policies have worked to improve and grow the US economy, US Ambassador to Germany Richard Grenell said Friday. “I’ll tell you one thing, they respect him,” Amb. Grenell said in a business interview, after […]
$RACE Ferrari (NYSE:RACE) signed new Performance bonus agreement for its Italian workforce, further investing in its employees Ferrari and the trade unions on 26 September signed a new Performance bonus agreement, which will be in force from Ys 2020 to 2023, in the context of the trade union relationships as normed by the Collective labour […]
$DIA, $SPY, $QQQ, $RUTX, $VXX Friday, the White House chief economic adviser Larry Kudlow declared President Trump is doing the “Lord’s work” when it comes to defending the US economy in terms of dealing with China, and said he does not believe there is a recession in sight under current scenario. “I know everybody wants […]
America’s jobless rate tumbled in September to its lowest level in 50 years, which could help assuage fears of an economic slowdown, according to government data released Friday. But while job creation continued, the pace was more subdued and wages were flat, showing a slowing trend. Unemployment fell two tenths to 3.5 percent, matching the […]
If white sand beaches, amazing water sports, luxury spas, butler service and stunning beauty sounds like your idea of a holiday, you may want to consider a trip to the Caribbean The next time you’re daydreaming of an island paradise getaway, think about heading to the Caribbean: an idyllic archipelago made up of azure waters, […]
Keane will lead the team at the new Quay Perth Hotel that opened this year One of Western Australia’s newest boutique hotels, Quay Perth, has a new general manager. Tony Keane joins the hotel’s management company, Louis T Collection, this month. He steps into the role with an eye on developing the brand’s profile and […]
The two runners presented by Newmarket-based trainer Charlie Appleby in the Prix Thomas Bryon Jockey Club de Turquie (Gr3), Friday at Saint-Cloud, took the first two places. In this 2-year-olds race over 7 furlongs, supposedly a prep race for the Critérium International (Gr1) on October 27 in ParisLongchamp on the same distance, King’s Command (Dubawi) contained all attacks after leading […]
The Qatar festival of the Arc weekend in ParisLongchamp starts on Saturday with five Group races including two Groups 1. The Qatar Prix du Cadran (Gr1), run over 2m4f, and the newly promoted Qatar Prix de Royallieu (Gr1), for fillies & mares over 1m6f, are the main features on the card. The “Cadran” is one of the oldest […]
Presidential candidate Bernie Sanders , 78 anni, suffered a heart attack earlier this week, his physicians said Friday, describing his heart health issue in more specific terms than disclosed previously. Friday after Senator Sanders left the hospital, his treating physicians cast the events in a more serious light. “After presenting to an outside facility with […]
$NLY, $CRWD, $GPRO, $INCY, $LYFT, $TSLA, $UBUR Daily HeffX-LTN reviews dozens of the Street’s Key analysts research reports to ID new trading and investing ideas for HeffX-LTN readers. Some reports cover stocks to buy, and others cover stocks to sell or avoid. Below is a list of stocks analysts have singled out to look at carefully Friday, as follows Annaly Capital Management Inc. (NYSE:NLY) was started […]
Bitcoin: USD/BTC (BTC=X) currently experiencing a negative price trend This hasn’t been a good week for Bitcoin. Following a sharp fall on Tuesday of last week, when the price of Bitcoin dropped from almost $9,700 to $8,500, the cryptocurrency has failed to recover ever since. After falling to $8,000, the bulls tried to gain some ground, […]
Apple Inc. (NASDAQ:AAPL) continues to show a massive decrease in its operating margin Apple (NASDAQ:AAPL) has continued to show a massive decrease in its operating margin (OPM), in the recent quarter. Apple reported OPM of 21.45% in the latest earnings. This is 223 basis points less than the year-ago quarter. It has now delivered a falling […]
Dow Jones Industrial Average (.DJI) Reverses Sharply Off Lows As Bulls Defend Stock Market Rally The stock market turned higher Thursday morning after a big intraday decline after Wednesday’s sharp sell-off. The Dow Jones industrials lost about 300 points at their lows in today’s stock market after a weaker-than-expected ISM nonmanufacturing reading, stoking recession fears. […]
Alphabet Inc. (NASDAQ:GOOG) cloud business alone is now worth $225 billion Alphabet Inc.’s cloud business alone is now worth $225 billion, Deutsche Bank analysts led by Lloyd Walmsley wrote in a note. The unit could report compound annual growth of 55% between 2018 and 2022, and reach annual sales of about $38 billion by 2025, […]
Alibaba Group Holding Limited (NYSE:BABA) showing rapid decline in losses from its digital media segment When is a money-losing segment not a concern for a company? When it brings something else to the table. Alibaba (NYSE:BABA) has reported single-digit revenue growth in its digital media segment in the latest quarter. The digital media segment had revenue of […]
NASDAQ Composite (.IXIC) close higher as investors bet Fed will lower interest rates U.S. stocks closed higher Thursday, recovering from two days of losses, as investors bet that signs this week of a slowing economy will prompt the Federal Reserve to lower interest rates for the third time this year at its late October meeting. […]
Ethereum: USD/ETH (ETH=) failed to break upwards through $180 Crypto markets are again turning red, as the price of Ethereum (ETH) and XRP (XRP) see 2% and 3% respective losses for the day. Both assets crashed in tandem over a 30-minute sell-off that also saw Bitcoin (BTC) plummet back to $8,000. Ethereum’s fall to its current value of $172 […]
United States Oil (USO) edges higher but on track for big weekly loss Oil futures edged higher on Friday but were on track for a large weekly loss on fears that slower global economic growth will hurt fuel demand, while Saudi Arabia said it has fully restored oil output after recent attacks. Brent crude oil futures […]
Tesla, Inc. (NASDAQ:TSLA) stock reels after electric car maker’s missed sales Telsa Inc. shares were slammed on Thursday, after weaker-than-expected third-quarter deliveries prompted at least one downgrade and plenty of downbeat analyst commentary. Tesla TSLA, -4.15% shares fell more than 6% and traded as low as $224.28, but recovered some ground by session end and […]
$RACE Ferrari’s (NYSE:RACE) SF90, with the new higher downforce package, leap forward being able to retain Top Speed advantage relative to Mercedes. This came as a surprise to MercedesAMG’s Silver Arrows, whose Spec-3 update failed to live up to expectations and requires that it operates below its upper thresholds in order to hold on to […]
$DIA, $SPY, $QQQ, $RUTX, $VXX US stocks recover from oversold condition, soft data boosts rate-cut expectations. The recent ADP job numbers suggest that employers are either having difficulty filling positions, are hiring fewer people due to weaker demand, or both. The lowest manufacturing jobs gauge since Y 2016. Slower private hiring. A sharp drop in […]
Hong Kong: HANG SENG INDEX (.HSI) stocks lifted by face mask ban report Hong Kong shares ended higher today as reports the government will ban the use of face masks at public gatherings lifted hopes that officials could cool down increasingly violent protests in the beleaguered city. Technical Indicators Overall, the bias in prices is: […]
Silver 1 OZ 999 NY (XAG=X) Eye Bull Flag Continuation Effort The start of October and Q4’19 has been kind to precious metals. After gold and silver prices came under sharp pressure as both September and Q3’19 came to a close, the redeployment of capital in an environment that has turned dark rather quickly has […]
Japanese Yen: USD/JPY (JPY=X) traders will also be taking direction from the movement in Treasury yields The Dollar/Yen is trading lower on Thursday, shortly before the U.S. opening and the release of a slew of economic reports including the ISM Non-Manufacturing PMI report for September. Weaker-than-expected U.S. economic reports earlier in the week renewed fears […]
Canadian Dollar: USD/CAD (CAD=X) focus on weekly close around 1.3355/70 The Canadian Dollar down more than 0.75% against the US Dollar since the start of the week with USD/CAD testing the upper-bounds of a multi-month range in price heading into major US event risk tomorrow. It’s the moment of truth for Loonie. In my last Canadian Dollar Weekly Price Outlook we […]
British Pound: USD/GBP (GBP=X) well supported against its major competitors The British Pound remains relatively well supported against its major competitors on Thursday, October 03 with foreign exchange markets opting to watch the currency from the sidelines as they try to gauge whether the UK’s final Brexit proposals to the EU will be accepted. Sterling […]
Euro: USD/EUR (EUR=X) Recovers for Second Straight Session The trend of weak economic data continued on Wednesday as the ADP reported an increase of 135,00 jobs in the US private sector from August to September. While this was only marginally below the analyst estimate, there was a notable downward revision for the prior reading from […]
Gold 1 OZ (XAU=X) traders are looking to the U.S. stock market for direction Gold and silver prices are trading not far from unchanged in early U.S. trading Thursday. The precious metals traders are looking to the U.S. stock market for direction. More selling pressure in equities would prompt more safe-haven demand for gold and silver. However, a […]
Australian Dollar: USD/AUD (AUD=X) Weakness Continues After Release of Services PMI and Trade Balance Figures AUD/USD is recovering after trading weaker early on Thursday following the release of trade balance and services PMI figures. At the time of writing, AUD/USD is trading at around 0.6719. According to data released by Markit earlier today, the Australian […]
DAX PERFORMANCE-INDEX (.GDAXI) price may be on its way towards 11,766 Looking at the daily chart, we notice yesterday the Dax broke below the neckline of double top pattern residing at 12,142. Additionally, the index declined to a lower trading zone 11,691- 12,032 eyeing a test of the low end of it. This suggests that […]
UK FTSE 100 (.FTSE) posts biggest drop for over 3 years as global growth, trade wars, Brexit, Trump worries create perfect storm The FTSE 100 index recorded its biggest one-day drop for more than three years as fears over the state of the US and global economies amid trade war concerns and intensifying Brexit worries created the perfect […]
Australia: S&P/ASX 200 (.AXJO) shares tumbled due to rising fears of a global recession Australian shares have closed sharply lower, posting their worst fall since August, due to rising fears of a global recession. The ASX 200 dropped 2.2 per cent to end at 6,493 points on Thursday — a slight recovery compared to its […]
Singapore: STI Index (.STI) shares sink on trade, recession fears Singapore shares continued to take a beating as trading resumed on Thursday afternoon (Oct 3), after the United States opened a new trade war front with Europe and lacklustre US jobs data exacerbated recession fears. The Straits Times Index was down 0.92 per cent or […]
$AIG, $AAPL, $SCHW, $CIEN, $SMAR, $AMTD Daily HeffX-LTN reviews dozens of the Street’s Key analysts research reports to ID new trading and investing ideas for HeffX-LTN readers. Some reports cover stocks to buy, and others cover stocks to sell or avoid. Below is a list of stocks analysts have singled out to look at carefully Thursday, as follows; American International Group Inc. (NYSE:AIG) was reiterated as […]
Apple Inc. (NASDAQ:AAPL) Tim Cook urges Supreme Court to preserve DACA In a friend-of-the-court brief filed Wednesday, top executives at Apple Inc. urged the U.S. Supreme Court to uphold DACA, the Obama-era law protecting the immigration status of those who came to America as the children of undocumented immigrants. Apple AAPL, -2.51% employs 443 “Dreamers” […]
Alibaba Group Holding Limited (NYSE:BABA) Gains As Market Dips Alibaba (BABA) closed the most recent trading day at $165.77, moving +0.38% from the previous trading session. This change outpaced the S&P 500’s 1.79% loss on the day. Elsewhere, the Dow lost 1.86%, while the tech-heavy Nasdaq lost 1.56%. Prior to today’s trading, shares of the […]
Bitcoin: USD/BTC (BTC=X) floats in the waters of uncertainty As Bitcoin’s (BTC) price floats in the waters of uncertainty in the low $8,000 range, one might wonder how crypto’s largest asset found itself at the bottom of a steep drop after its exuberant price rise from $3,330 to $13,880 earlier in 2019. One explanation could […]
Tesla, Inc. (NASDAQ:TSLA) delivers a record 97,000 vehicles in third quarter Electric-car maker Tesla delivered a record 97,000 vehicles globally during the third quarter, an impressive milestone that still fell short of investor expectations and set a tough hurdle for CEO Elon Musk to meet his year-end goals. The company’s stock tumbled by more than […]
United States Oil (USO) drops to 2-month low on economic woes Oil futures declined, with U.S. and global benchmark prices logging their lowest finish in about two months, as downbeat economic data weighed on prospects for energy demand, and domestic crude stockpiles registered a third straight weekly climb. The U.S. added a modest 135,000 private-sector […]
Dow Jones Industrial Average (.DJI) after reports show slowing in September for both manufacturing and hiring Stock indexes were nearing record high levels, until October and the fourth quarter began. In the last two days the U.S. markets have fallen broadly, as investors began showing concern about fresh signs of an economic slowdown. The Dow […]
Ethereum: USD/ETH (ETH=) Surges Towards $180 as Bitcoin Consolidates At the time of writing, Ethereum is trading down marginally at its current price of $177.80, which marks a slight rise from its daily lows of $174 that were set overnight. Ethereum is currently trading significantly off of its recent highs of over $220 that were set in mid-September, although […]
NASDAQ Composite (.IXIC) will look to hold above the 200-day moving average ahead of ISM services data The Nasdaq 100 is down nearly 2% from its Monday open after Tuesday’s ISM manufacturing data revealed the sector contracted further in September. The findings worked to exacerbate recessionary fears and has battered risk appetite ahead of two critically important […]
Amazon.com, Inc. (NASDAQ:AMZN) Is Diving Headlong Into the Grocery Business Amazon.com (NASDAQ: AMZN) fired the shot heard round the grocery world when the tech giant acquired Whole Foods in late 2017 — putting supermarkets on notice that there was a new sheriff in town. Since then, however, the situation has remained largely unchanged. The company has slowly ramped up […]
Alphabet Inc. (NASDAQ:GOOG) pretty cheap considering its robust growth prospects Once the most beloved growth stocks in the market, FANG stocks have been under tremendous pressure recently, with one notable exception: Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL). Specifically, relative to their 2019 highs, shares of Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) are all off 15% or more. […]
The 2019-2020 racing season at Meydan Racecourse gets underway in just a few weeks on Thursday, October 24, and online sales of tickets for the ‘Racing at Meydan’ programmes and concurrent Dubai World Cup Carnival are available to racegoers. Tickets and packages can be purchased here: https://store.meydan.ae/. For those looking to enjoy more of the […]
Asian markets tanked Thursday after a below-par US jobs report compounded worries about the world’s top economy as impeachment proceedings dominate left wing media, while the WTO fanned fresh trade war fears by allowing Washington to impose tariffs on the European Union. Just the thought of a Democrat led USA has Investors around the world […]
$DIA, $SPY, $QQQ, $RUTX, $ESDAY, $VXX Wednesday’s US economic data included the ADP Employment Change report for September and the weekly MBA Mortgage Applications Index. The takeaways are as follows: Private-sector payrolls were estimated to have increased by 135,000 in September (consensus 150-K) while the prior month’s print was revised down to 157-K from 195,000. Private-sector […]
Euro: USD/EUR (EUR=X) holds firm after losses The Euro bounced a bit during the trading session after initially falling on Wednesday, as we continue to see the 1.09 level attracted a lot of attention. That being said though, part of this could have been exacerbated by the ADP report coming in slightly soft in the […]
Australian Dollar: USD/AUD (AUD=X) testing fresh decade lows It’s been a rough year of 2019 for the Australian Dollar, and this extends a down-trend that’s been in-effect in AUD/USD since early-2018. Coming into the New Year, AUD/USD showed a ‘flash crash’ to slalom down to a low of .6744; but as risk aversion took a hiatus on the […]
Silver 1 OZ 999 NY (XAG=X) prices extend gains Gold and silver prices are trading with solid gains in morning U.S. dealings Wednesday. Prices have added to modest early gains and are at daily highs as the U.S. stock market opened under solid selling pressure. Safe-haven demand is featured in the metals amid worries about […]
Japanese Yen: USD/JPY (JPY=X) reverses off downtrend resistance- risk for further losses sub-108.18 The Japanese Yen snapped a four-day losing streak against the US Dollar yesterday with price marking a reversal pattern off daily confluence resistance. These are the updated targets and invalidation levels that matter on the USD/JPY price charts this week. Technical Outlook In my previous Japanese Yen Weekly Price Outlook we […]
Hong Kong: HANG SENG INDEX (.HSI) August retail sales hammered by summer of rage Strife-torn Hong Kong has suffered a record slump in retail sales, data showed Wednesday, as the city reels from four months of increasingly violent pro-democracy protests. The international finance hub is a major international tourist destination and especially popular with mainland […]
New Zealand Dollar: NZD/USD (NZD=X) only up on US dollar weakness after the manufacturing data The New Zealand dollar was treading water after gaining on US dollar weakness when soft data added to concerns that the US-China trade war is negatively impacting the US economy. The kiwi was trading at 62.46 US cents at 5:30 […]
Gold 1 OZ (XAU=X) solid resistance at $1,520.00 Technically, the gold bulls have the slight overall near-term technical advantage, but a four-month-old uptrend on the daily bar chart has been negated and a four-week-old downtrend is in place. Bulls’ next upside price objective is to produce a close in December futures above solid resistance at $1,520.00. Bears’ […]
DAX PERFORMANCE-INDEX (.GDAXI) slumps today after the US ISM manufacturing report The DAX index slumps today after the US ISM manufacturing report, published yesterday, came in at 47.8 the lowest level in ten years. The biggest drag on the ISM was new export orders, and this is important for the export-oriented German economy. As a […]
Australia: S&P/ASX 200 (.AXJO) falls 1.5 per cent Fears of a recession in the United States and lower expectations of global trade pushed the Australian share market down by more than 100 points to close 1.5 per cent lower at 6639.9 points on Wednesday. The index opened at 6742.8 and ended the day with 180 […]
British Pound: USD/GBP (GBP=X) on defensive after latest Irish border proposals The Pound was on the defensive Wednesday as Prime Minister Boris Johnson’s latest Brexit proposals were reportedly criticised in Brussels and after the Conservative Party leader told grassroots supporters that the plan was a “final offer” that must now be met with compromise from […]
Canadian Dollar: USD/CAD (CAD=X) stuck in a range as technical indicators clash USD/CAD price action has been capped by the 200-day moving average for the last month and will need a bullish driver to regain upside momentum. The daily chart shows USD/CAD below all three moving averages, although the 20-day is being threatened, with the recent […]
Singapore: STI Index (.STI) slide as renewed fears of a global economic slowdown Singapore shares deepened its slide on Wednesday afternoon (Oct 2), as a shock slump in US manufacturing activity spooked investors and renewed fears of a global economic slowdown. The Straits Times Index sank 1.2 per cent, or 39.15 points to 3,106.88 as […]
UK FTSE 100 (.FTSE) endured its worst day since the Brexit vote Panicked traders wiped £63bn off the FTSE 100 as Britain’s blue chip index endured its worst day since the Brexit vote amid a global stock market sell-off. The FTSE 100 fell by 238 points, or 3.23pc, in its biggest drop since January 2016 […]
A star-studded cast remains on course for the ninth edition of QIPCO British Champions Day at Ascot on Saturday 19th October after the latest forfeit stage today. Tickets are selling fast for the day with just Queen Anne Enclosure left, available here The ultimate raceday, with over £4 million worth of prize money on offer, remains on […]
European stock markets tumbled on Wednesday after worse-than-expected US data revived worries about the impact of the trade war on the global economy. London dived 2.0 percent in midday deals after fall in Asia and overnight on Wall Street, as investors took flight on news of a disappointing reading on factory activity in the United […]
Strife-torn Hong Kong has suffered a record slump in retail sales, data showed Wednesday, as the city reels from four months of increasingly violent pro-democracy protests. The international finance hub is a major international tourist destination and especially popular with mainland Chinese shoppers hoping to snap up bargains in a city with no sales tax. […]
Singapore’s new law to combat “fake news” came into effect Wednesday despite criticism from tech giants and activists, who labelled the tough rules a “chilling” attempt to stifle dissent. The law gives government ministers powers to order social media sites to put warnings next to posts authorities deem to be false, and in extreme cases […]
NASDAQ Composite (.IXIC) Reverses Lower On ISM Data The Nasdaq composite forfeited a solid early gain of as much as 0.8% amid a broad initial advance in stocks today. But another month of weak manufacturing data torpedoed the rally. The tech-weighted index slipped around 0.7%. Near the noon hour in New York, the S&P 500 fell […]
Johnson & Johnson (NYSE:JNJ) agrees $20.4 mn payment in Ohio opioid case US healthcare giant Johnson & Johnson on Tuesday announced it had reached a $20.4 million settlement to avoid a much-anticipated trial in Ohio for allegedly fueling the opioid addiction crisis. Several drugmakers have agreed deals ahead of the trial, due to open this […]
Bitcoin: USD/BTC (BTC=X) seems to be pulling up from its recent dive The 61.8% level seems closest to the wedge resistance around the $9,756 level and the 100 SMA dynamic inflection point. The 50% Fib is closer to the former support around $9,500 while the 38.2% level is near the $9,000 mark. The 100 SMA […]
Alphabet Inc. (NASDAQ:GOOG) going to war with Apple Inc. (NASDAQ:AAPL) over the future of gaming The video game industry is in a period of transition, and it’s not just because the next PlayStation and Xbox consoles are due out next year. Rapid adoption of smartphones and global investments in online infrastructure have helped video games […]
Tesla, Inc. (NASDAQ:TSLA) China production to start, eyes on mass production timing Tesla (NASDAQ:TSLA) Inc’s China factory aims to start production this month but it is unclear when it will meet year-end production targets due to uncertainties around orders, labor and suppliers, sources with knowledge of the matter said. The U.S. electric vehicle maker aims […]
Dow Jones Industrial Average (.DJI) tumbled more than 300 points after disappointing economic data Dow Jones Industrial Average tumbled more than 300 points after disappointing economic data halted an early rally in the stock market today. ISM manufacturing data for September fell to 47.8 to a 10-year low. Economists were looking for 50, an increase from 49.1 […]
Ethereum: USD/ETH (ETH=) Fees Fall Under $0.01 Again Over the past few months, an odd trend has been seen: the Ethereum blockchain itself has started to gain traction, even as ETH’s price fell, with there being a large uptick in transaction volumes and overall network activity. It got to a point when last month, the fees that […]
Twitter, Inc. (NYSE:TWTR) TweetDeck suffer global outage, thousands hit Twitter Inc (N:TWTR) said late on Tuesday that the social media website and its dashboard management platform TweetDeck was hit with an outage, with thousands of global users left in the dark. “You might have had trouble Tweeting, getting notifications, or viewing DMs. We’re currently working on […]
United States Oil (USO) slipped pressured as weak US economic data dimmed crude’s demand outlook Oil prices slipped on Tuesday, pressured as weak US economic data dimmed crude’s demand outlook, while reports of an output decline from the world’s largest oil producers in the third quarter kept prices from falling further. Brent crude futures lost […]
Facebook, Inc. (NASDAQ:FB) Libra partners reconsider as governments grumble Mastercard, Visa and other financial partners being enlisted to oversee Facebook-backed cryptocurrency Libra are having second thoughts as regulators unleash ire on the project, according to a report Tuesday. A Libra Association created by Facebook to independently manage the digital money still had its initial group […]
Multi Grammy Award-winning artist Kelly Rowland will perform a free concert for racegoers attending The Everest, featuring the $14 million The TAB Everest – the world’s richest turf race on Saturday, 19 October at Royal Randwick. With the support of Kelly, in its third year The Everest is set to be bigger and better, attracting the world’s best […]
New Zealand Dollar: NZD/USD (NZD=X) lowest level in 10 years Today, AUD/USD resumed bearish price action after breaking below the level discussed in our last update. Later, the price pressed below the Aug 7 low (monthly support) at 0.6677 printing its lowest level in 10 years at 0.6672. Similarly, NZD/USD printed 0.6203 – its lowest level in 10 years. Since […]
British Pound: USD/GBP (GBP=X) slips as dollar hits 29-month high The US dollar remained steady as it climbed against a handful of currencies, hitting a 29-month high as markets priced in a lower chance of further Federal Reserve Rate cuts in the coming months. The US Markit manufacturing PMI also provided some support for the […]
Japanese Yen: USD/JPY (JPY=X) US dollar pressing resistance The US dollar has rallied again during the trading session on Tuesday against the Japanese yen, pressing against the 50% Fibonacci retracement level yet again. Just above, the 200 day moving average looms large. The US dollar has rallied a bit during the trading session on Wednesday, reaching towards […]
$DIA, $SPY, $QQQ, $RUTX, $VXX Tuesday, President Trump continued his attack on the Fed, and this time saying Chairman Powell and central bankers were “their own worst enemies” after a US manufacturing index posted the weakest monthly reading since the end of the last recession in Y 2009. “As I predicted, Jay Powell and the […]
Singapore: STI Index (.STI) equities got the fourth quarter off to a flying start It would be an exaggeration to say Singapore equities got the fourth quarter off to a flying start, but the local market did register one of the region’s best showings yesterday. The Straits Times Index (STI) extended early gains to end […]
Australia: S&P/ASX 200 (.AXJO) set for heavy falls The S&P 500 and Dow suffered their worst tumbles in over a month on Tuesday after data showed US factory activity shrank in September to its weakest in over a decade, ratcheting up fears that the US-China trade war is hobbling the world’s largest economy. The slide […]
Australian Dollar: USD/AUD (AUD=X) finding itself under pressure The Australian Dollar is finding itself under pressure against the US Dollar as it attempts to push through the March 2009 low again. This is ahead of the October Reserve Bank of Australia interest rate announcement, which could produce monetary-policy-based volatility in the currency as markets widely anticipate a cut. Will support hold? On […]
Euro: USD/EUR (EUR=X) fell to fresh two-year lows Euro fell to fresh two-year lows against the US Dollar today before rebounding with the broader decline in question heading into the start of October trade. Technical Outlook In my previous Euro Price Outlook we noted that, “Euro turned from downtrend resistance last week and the focus is on a test of key […]
Gold 1 OZ (XAU=X) Weighed Down by Easing Gold Volatility While other asset classes don’t like increased volatility (signaling greater uncertainty around cash flows, dividends, coupon payments, etc.), precious metals tend to benefit during periods of higher volatility. Heightened uncertainty in financial markets due to increasing macroeconomic tensions (like US-China trade war or the prospect of a no-deal, […]
