Longtime bear David Rosenberg questions need for additional virus aid, suggests households are swimming in cash
He’s known as one of Wall Street’s longtime bears. But David Rosenberg appears to exude more optimism than pessimism these days. The chief economist and strategist at Rosenberg Research sees signs the economy doesn’t require a second coronavirus aid package...
El-Erian says coronavirus devastation of small businesses threatens capitalism in the U.S.
Small business devastation during the coronavirus crisis presents risks to capitalism in the United States, Mohamed El-Erian told CNBC on Thursday. “If you want capitalism to be sustained, you need buy-in from a lot of people. You cannot get buy-in if...
The Forex Market and Presidential Terms
How has the forex market performed around different US Presidential terms? Read on to discover what history can tell us about the Forex market and the President. (1) The US Dollar and the President’s Party At first, many traders are...
WTI Outlook: Quick Drop on Negative News So Far Short-lived
WTI oil price fell almost $1 on Thursday after OPEC+ announced daily oversupply of more than two million barrels and US weekly jobless claims unexpectedly rose, warning of slowdown in economic recovery that would hurt oil demand. However, the drop...
EURJPY Undergoes Downside Pressures; Uptrend Confronted
EURJPY is currently suffering negative stresses, which are attempting to destabilize the steady ascent from the 119.30 low. The price has retreated past the 50-period simple moving average (SMA) at 125.67 and below the Ichimoku cloud, until the 100-period SMA,...
Stocks making the biggest moves in the premarket: Alibaba, Estee Lauder, CureVac, Nvidia & more
Take a look at some of the biggest movers in the premarket: Alibaba (BABA) – The China-based e-commerce giant reported better-than-expected profit and revenue for its fiscal first quarter, helped by a pandemic-related boost in online shopping. Alibaba had 874...
Sentiments Turn Cautious after ECB and Fed Minutes, Aussie and Kiwi Tumble
Global financial markets seemed to have turned into risk-off mode today, after both Fed and ECB sounded very cautious regarding economic outlook in their minutes. Swiss Franc extended recent volatility trading and gains broadly, followed by Sterling and Yen. On...
U.S. weekly jobless claims jump back above 1 million
The number of people filing for unemployment benefits last week was greater than expected, raising concern about the state of the economy as lawmakers struggle to move forward on a new coronavirus stimulus package. The Labor Department said initial jobless...
US Futures Sliding – Watch NVDA, INTC, BABA, EL, LB
The S&P 500 Futures remain under pressure after they ended in the red yesterday as Minutes from the U.S. Federal Reserve’s latest meeting showed that officials expected the economy to require “additional accommodation” for recovering from the coronavirus pandemic. Later...
Elliott Wave View: SP 500 (SPX) Pulling Back After Making All-Time High
Elliott Wave View of S&P 500 (SPX) suggests the rally from July 25,2020 low has ended at 3399.54 high as wave 3, which is also a new all-time high. Up from July 25 low, wave ((i)) ended at 3264.74 high...
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