Big Tech went from growth stocks to Wall Street’s Treasury bond substitute during the coronavirus
FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC Investors and traders have historically turned to less-risky assets such as U.S. Treasurys to weather market volatility and uncertainty. During the coronavirus pandemic, however, they have turned to unlikely place:...
Stocks making the biggest moves midday: Gilead, Wells Fargo, Carnival & more
A customer leaves an ATM at a Wells Fargo branch in Denver. Rick Wilking | Reuters Check out the companies making headlines in midday trading: Gilead Sciences — Gilead gained 2.1% after saying its coronavirus treatment candidate drug, remdesivir, was associated with...
Wearing masks is now the most important thing for the economy, Fed’s Kaplan says
Gerard Miller | CNBC Amid historically aggressive policy moves from the U.S. central bank and Congress, Dallas Federal Reserve President Robert Kaplan said the most important thing for the economy now is wearing protective face coverings. Masks in public, Kaplan...
Week Ahead – Bring on Earnings Season
No Shortage of Event Risk Next week sees earnings season get underway in the US, with the major banks all reporting on the second quarter and offering insight – if they have any – into the rest of the year....
US China Trade Agreement Update – Not Impossible?
China is currently set to meet just 14% of its energy product obligations; 45% of agreed agricultural; 57% of required manufactured goods for a total of 45% of its overall 2020 targets under the terms of the Phase One Trade...
Yen Staying Firm But Risk Markets Refuse to Give Up
The financial markets are still refusing to commit to a direction. Major European stocks are generally higher despite broad selloff in Asia. US futures point to lower open while 10-year yield is doing its best to hold on to 0.6%...
U.S. producer prices unexpectedly fall in June
Jaeden Milam makes clear acrylic safety shield dividers on a computer-controlled cutting machine at Screaming Images amid the spread of the coronavirus on May 18, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images U.S. producer prices unexpectedly fell...
Tencent in exclusive talks to buy Hong Kong gaming firm Leyou
A pedestrian walks past Tencent Holdings’s headquarters in Shenzhen, China. Qilai Shen | Bloomberg | Getty Images Chinese tech giant Tencent is in exclusive talks to acquire Leyou Technologies, the Hong Kong-listed games developer announced on Friday. Leyou has a number of...
XAU/USD Analysis: Remains Below 1,815.00
Yesterday, the XAU/USD exchange rate declined to the support provided by the 100-hour SMA near 1,795.00. During Friday morning, the rate reversed north. It is likely that yellow metal could gain support from the 55-hour moving average near 1,805.00 and...
USD/JPY Analysis: Dropped Below 107.00
On Thursday, the USD/JPY currency pair tumbled below the 107.20 level. During today’s morning, the pair declined to the 106.80 mark. It is likely that the exchange rate could be pressured by the Fibo 38.20% at 106.86, thus, it is...