Amazon responds to Ocasio-Cortez’s claim that it pays workers ‘starvation wages’
U.S. Representative Alexandria Ocasio-Cortez (D-NY) arrives before the town hall meeting in the Queens borough of New York City, New York, U.S., April 27, 2019. REUTERS/Jeenah Moon/File Photo Amazon responded Monday to a comment by Rep. Alexandria Ocasio-Cortez, D-N.Y., that...
Euro Rises on Strong Wage Growth, Dollar Softens on Weak Data
Euro strengthens broadly in mixed forex markets today. Record wage growth in Q1 is a factor under-pinning the common currency. Poor US economic data also helps. But at this point, strength mainly centers in crosses, against Aussie most notably. Meanwhile,...
Goldman Sachs is sounding the alarm to clients that technology stocks are overvalued
It’s about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a “hazard” to the group. Technology stocks have been investors’ darlings for years as the appetite...
A key manufacturing gauge just saw its biggest one-month decline in 18 years
A closely followed gauge of manufacturing in the New York area fell this month to its lowest level in nearly three years. The Empire State Manufacturing Index tumbled to a -8.6 reading from 17.8 in May, a 26.4-point drop that...
WTI Oil Outlook: Near-Term Risk Shifts Lower As 10SMA Continues To Cap
WTI oil price was a tad lower in Europe on Monday after advancing last Thu/Fri on rising tensions in the Middle East after two tankers were attacked in Gulf. Overall structure remains bearish as fears of lower global demand on...
Central Banks And Their Decision Remain A Major Focal Point
European markets and US futures are ready to start the week on a positive note. During the week, the focus is going to remain on central banks and their monetary policies. Looking at the score card, the S&P 500 index...
Dollar Firm as Markets Skeptical on Fed Insurance Rate Cut Path
Dollar remains generally firm in quiet Asian markets today. The greenback continues to be supported by expectation that FOMC won’t deliver any “insurance” rate cut this week. Instead, Fed policy makers will look at the upcoming developments before making a...
FOMC Preview – Preparing for Rate Cut
The Fed could make a number of changes in the upcoming June FOMC meeting, to pave way for a rate cut in as soon as July. We would focus on three things: updated economic projections, adjustment in the forward guidance...
Market Morning Briefing: Aussie Remains Bearish
STOCKS Global equities like the Dow and DAX remains mixed in the near-term while the broader picture continues to remain positive. Nikkei is heading towards a crucial resistance which has to be broken to extend the upmove. Shanghai retains its...
Puerto Rico’s oversight board strikes $35 billion restructuring deal with commonwealth’s bondholders
The oversight board in charge of Puerto Rico’s ongoing debt restructuring saga announced late on Sunday they have come to terms with bondholders of around $35 billion, which accounts for nearly 50% of the bankrupt island’s total bonded debt. The...
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