SPX 500 Struggles for Support
Upcoming US rate hike still weighs on equity markets. A tentative break below last October’s low (4300) has put the S&P 500 on the defense. A bearish MA cross on the daily chart shows that sentiment could be deteriorating as...
US Oil Breaks to New High
Oil climbed amid fears of disruption as tensions between Russia and the West grew. After a short-lived pause, WTI crude saw bids near a previous low at 82.00 which lies on the 20-day moving average. A break above the January...
Stock futures rise as market set to wrap up a wild week, Apple shares pop
Stock futures rose early Friday, boosted by a jump in Apple shares, as Wall Street looks to wrap up a roller-coaster week on a high note. Futures on the Dow Jones Industrial Average gained about 162 points, or 0.48%. S&P...
Dollar Staying Strong, Sterling Trying to Catch Up
Dollar remains overwhelmingly the strongest one for the week, as boosted by intensified Fed hike expectations. Sterling is trying to catch and trading as the next stronger, with special help from buying against Euro. Australian and New Zealand Dollar are...
GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spread
The U.S. economy grew at a much better-than-expected pace to end 2021 from sizeable boosts in inventories and consumer spending, and despite signs that the acceleration likely tailed off toward the end of the year. Gross domestic product, the sum...
RBA Meeting: Managing Rate Hike Expectations
The Reserve Bank of Australia announces its first policy decision of the year on Tuesday at 3:30 GMT. The last time the Bank’s governor, Philip Lowe, spoke in mid-December, he told investors he didn’t think conditions for a rate hike...
Dollar Extends Strong Rally after GDP, Euro Downside Breakout
Dollar’s strong post-FOMC rally is given another boost in early US session by much better than expected Q4 GDP data. Latest jobless claims figures also suggest stabilization from the impact of Omicron. But for now, the strength is mainly centered...
Stocks making the biggest moves premarket: McDonald’s, Blackstone, Netflix and others
Check out the companies making headlines before the bell: Comcast (CMCSA) – The NBCUniversal and CNBC parent earned an adjusted 77 cents per share for the fourth quarter, 4 cents above estimates, with revenue also above analyst forecasts. Comcast also...
Dollar Surges in Full Risk-Off Markets, Sentiment Destroyed by Fed Powell
Investor sentiment was basically destroyed by more hawkish than expected Fed Chair Jerome Powell. US stocks reversed earlier gains and closed mixed. But futures are already pointing to a gap down open today. Major Asia indexes are trading in deep...
AUD/USD Struggles Below 0.7200, Oil Rallies
Key Highlights AUD/USD started a fresh decline from well above 0.7280. It traded below a key contracting triangle with support near 0.7185 on the 4-hours chart. EUR/USD is struggling below 1.1300, and GBP/USD declined below 1.3500. Crude oil price gained...