David Tepper’s Appaloosa takes new stake in Apple, cuts Facebook and Alibaba
Appaloosa Management added new stakes in Apple and State Street in the third quarter while cutting exposure to Facebook and e-commerce hub Alibaba. Billionaire manager David Tepper’s firm had added 100,000 shares of Apple and 1.2 million shares of financial...
Watch: Fed Chairman Jerome Powell answers questions in Dallas
[The stream is slated to start at 6 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell is participating Tuesday in a question-and-answer session with Dallas Fed...
FSB: Libor ‘will not be sustainable’ after 2021
Regulators may be reasonably happy with the progress being made on alternative reference rates to Libor, but the need to clarify exactly what will happen to instruments referencing Libor once the benchmark no longer exists is becoming hard to ignore....
Bitcoin plummets under $6,000 to a new low for the year after months of stability
Bitcoin’s moment of relative stability ended abruptly Wednesday. The world’s largest cryptocurrency hit its lowest level of the year, falling as much as 9 percent to a low of $5,640.36, according to CoinDesk. Bitcoin had been trading comfortably around the...
AUDJPY Positive Momentum Weakens; Medium Term Outlook Looks Mostly Bullish
AUDJPY’s remarkable recovery after hitting a two-year nadir of 78.55 in late October lost some steam when the pair touched a near three-and-a-half-month high of 83.04 last week. The Tenkan- and Kijun-sen lines remain positively aligned in support of a...
US CPI: Inflation Under Control
Lifted by higher energy costs, CPI inflation rose 0.3% in October. Core inflation strengthened after a couple of soft prints. October’s pickup suggests inflation continues to gradually firm and should keep the Fed on course. Inflation Climbs in October Inflation...
EURJPY Maintains Weak Bias in Near-Term; Broader Trend is Neutral
EURJPY has been trading within the 23.6% Fibonacci retracement level and the 38.2% Fibonacci mark of the downleg from 133.10 to 126.60, between 128.15 and 129.10 over the last 4-hour sessions. The MACD oscillator is moving higher in the negative...
US: Inflation Edges Higher in October, Mostly on Higher Energy Prices
Consumer prices rose 0.3% (month-on-month) in October, on par with expectations. Core CPI (excluding food and energy) prices were up a softer 0.2%, also on top of the median consensus estimate. Inflation accelerated to 2.5% (year-on-year), up from 2.3% in...
Sterling Turned Cautious as Markets Await May’s Brexit Cabinet Meeting
Sterling turned cautious as markets are now awaiting the result of UK Prime Minister Theresa May’s Cabinet meeting on Brexit. The withdrawal agreement text should have been agreed with the EU. Approval by the Cabinet will give the green-light to...
US consumer prices post the largest increase in 9 months
U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again...
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