All-star investor Rich Bernstein sees ‘a very bearish sign for the economy and corporate profits’
Institutional Investor Hall of Famer Richard Bernstein sees troublesome activity within the market surge. His problem: Big Tech is the main driver. “Narrow leadership is an end-of-cycle event,” the Richard Bernstein Advisors CEO and CIO told CNBC’s “Trading Nation” on Thursday....
Job growth expected to have slowed in October, as rehirings drop off, layoffs increase
A construction worker wearing a mask carries a steel beam as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 11, 2020 in New York City. Alexi Rosenfeld | Getty Images...
Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels
The Federal Reserve held short-term borrowing rates near zero in a decision Thursday that characterized the economy as growing but not near where it was before the coronavirus pandemic hit. As markets widely expected, the Fed kept its benchmark interest...
NFP Preview: Jobs Momentum Slowing as COVID Accelerates
Background While the American public remains enamored with a Presidential election that just doesn’t seem to end, the rest of the financial and economic world continues to turn. In addition to the Federal Reserve’s monetary policy meeting later today, the...
Gold Gears up Within 1,900 Area; Bullish But Overbought
Gold switched to green on Thursday, speeding up within the 1,900 area, which barely could touch in the previous day. The precious metal is currently close to breaching the bar around 1,930, though the bulls seem to be running out...
Jobless claims edge lower but are still well above pre-pandemic levels
First-time claims for unemployment insurance continued a modest trend down last week, though the total remains well above what was considered normal prior to the coronavirus pandemic and was a touch higher than Wall Street estimates. The Labor Department reported...
As hopes fade for a major stimulus, here’s what it means for the fragile economy
The U.S. Capitol is seen in the morning on November 4, 2020 in Washington, DC. The nation awaits the results of a historic presidential election between President Donald Trump and his Democratic challenger, former Vice President Joe Biden with swing...
Dollar Selling Takes Off as Stocks Extend Powerful Rally
Dollar’s selloff finally takes off as market enters into US session today. While the final result of US presidential election is still unknown, investors couldn’t wait to push stocks higher. At the time of writing, Canadian Dollar is trading as...
U.S Futures Still up – Watch QCOM, MRK, BMY, AAPL, BABA
The S&P 500 Futures are extending their uptrend in a still uncertain U.S. election outcome. In any case, the next senatorial majority will be short, limiting the room for manoeuvre of both parties. Later today, the U.S. Labor Department will...
EUR/JPY Sets For Breakout
The Eurozone single currency declined by 80 points or 0.65% against the Japanese Yen on Wednesday. The decline was stopped by the 50– and 200– hour SMAs during yesterday’s trading session. Currently, the exchange rate is trading near the upper...
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