USDCAD Outlook: Loonie Advances after Better than Expected Canada GDP Data
The USDCAD accelerated lower and broke below 1.30 support on Friday after data showed Canada’s economy expanded more than expected (July GDP 0.2% vs 0.1% f/c and 0.0% in June), supporting expectations for BoC’s rate hike next month. Fresh bearish...
Evercore ISI hikes Nvidia price target to $400, a Street high on chipmaker’s A.I. leadership
Nvidia shares will soar due to the company’s booming chip sales in key high-growth technology markets, according to Evercore ISI. The research firm reiterated its outperform rating and increased its price target for Nvidia shares to $400 from $300, representing...
Euro Selloff Intensifies as Markets Response to Italy Budget Deficit Overwhelmingly Negative
A long list of economic data are released today. But the main focus is on Italy. The coalition government’s decision to target budget deficit at 2.4% of GDP for the next three years drew heavy criticism from EU. Also, financial...
Bank of America Merrill Lynch cracks down on risky securities with ban on penny stocks
Penny stocks are no longer welcome at Bank of America’s Merrill Lynch brokerage. The company recently told clients it was changing its trading policy regarding penny stocks. The bank’s Merrill Lynch division banned purchases of the risky securities in late...
US consumer spending increased steadily in August
U.S. consumer spending increased steadily in August, while a measure of underlying inflation remained at the Federal Reserve’s 2 percent target for a fourth straight month. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds...
Tesla shares plunge as Wall Street throws in towel, saying Musk departure could cost stock $130
Wall Street is buzzing over SEC’s civil action against Tesla CEO Elon Musk, predicting significant negative ramifications for the electric car market due to the action. Shares of the automaker fell 13.9 percent on Friday, their worst day since November...
Stocks making the biggest move premarket: BB, LOW, MTN, TSLA, BA & more
Check out the companies making headlines before the bell: BlackBerry — The communications software maker reported adjusted quarterly profit of 4 cents per share, compared to a consensus estimate of a penny a share, with revenue also beating forecasts. Lowe’s...
GBPUSD – Faces Bear Pressure, Targets 1.3000 Zone
GBPUSD – faces bear pressure as it weakens further on the back of its Thursday sell off. Resistance stands at the 1.3100 with a turn above here allowing for more strength to build up towards the 1.3150 level. Further out,...
Goldman, JPMorgan, and four others must face a stock lending antitrust case
A U.S. judge on Thursday ordered Goldman Sachs, JPMorgan Chase, and four other large banks to face an antitrust lawsuit by investors who said they conspired to stifle competition in the nearly $2 trillion stock lending market. U.S. District Judge...
EURUSD Outlook: Bears Extend Despite Positive German/EU Data
The pair dips below 1.16 handle in extension of previous day’s strong fall, after brief consolidation in early Friday’s trading was capped by broken falling 10SMA (1.1651). Fresh bears broke below 1.1594 (Fibo 76.4%) and pressure daily cloud top (1.1574)...
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