Week Ahead – Focus Stays on COVID
Virus rages on, a wrath of Fed speak, US retail sales slower pace Next week is filled with lots of Fed speak, an expected sixth consecutive increase with US retail sales, and possible COVID-1 vaccine results from Moderna. Financial markets...
Ex-Wells Fargo CEO John Stumpf misled investors in fake accounts scandal, SEC says
John Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016. Andrew Harrer | Bloomberg | Getty Images Ex-Wells Fargo CEO John Stumpf...
S&P 500 rises more than 1% to a record close to cap off strong week as big value rotation continues
U.S. stocks rose on Friday as investors bet again on stocks that would benefit from a potentially effective vaccine and economic recovery next year. The S&P 500 advanced 1.4% to 3,585.15, and posted a record closing high. The Dow Jones...
Unemployment claims are falling. But that’s not necessarily because people found work
Volunteers distribute food to the needy in Orlando, Fla. Paul Hennessy/NurPhoto via Getty Images Continuing claims Continuing claims for unemployment benefits are the best available proxy for the total number of people receiving jobless aid. Claims have fallen by more...
Dr. Copper Giving Clues about USD/CNH?
The price of cooper is said to be a sign of economic growth and weakness. Hence, it is nicknamed Dr. Copper because when the economy is weak, one just needs to look to “the Doctor” to see if it is...
Week Ahead – Plenty of Data but Covid, Trump and Brexit Might Steal the Spotlight
After the US election and vaccine frenzy, economic data will move to the forefront in the coming week, with inflation and retail sales comprising the bulk of the releases. However, investors might be wrong to assume that the election and...
GBP/USD Outlook: Cable Rebounds after 1.2% Drop, But On Track to End Week in Doji Candle
Cable rebounds on Friday, inflated by news of resignation of Dominic Cummings, British PM Boris Johnson’s most powerful adviser. Cummings was the mastermind of 2016 Brexit referendum and Johnson’s 2019 election win, is the second person from the closest circle...
NZDUSD Maintains Bullish Bias Despite Pullback
NZDUSD peaked at a 19½-month high of 0.6914 following a one-week ascent from 0.6612, before being pulled back below the mid-Bollinger band. The pair has found some footing at the upper part of a support base surrounding the lower Bollinger...
Stocks making the biggest moves premarket: DraftKings, Disney, Cisco, others
Check out the companies making headlines before the bell: DraftKings (DKNG) – The mobile betting service reported a quarterly loss of 57 cents per share, smaller than the 61-cent loss that Wall Street had anticipated, while revenue was above analyst...
Yen Extending Recovery as Treasury Yields Dip
Yen appears to be trying to reverse the losses posted earlier this week, as helped by pull back in treasury yields. US 10-year yield is trading at around 0.88 a the time of writing, well below this week’s high at...
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