Author: FX
ROME (Reuters) – Elon Musk said on Wednesday that he was not having an affair with Italian Prime Minister Giorgia Meloni, replying to a joke after their mutual praise at a black-tie event in New York this week drew headlines on both sides of the Atlantic. Photographs of the two lit up social media after Musk presented Meloni with the Global Citizen Award from the Atlantic Council think tank on Monday. The New York Post called it a “public love-in” between the world’s richest man and the first female Italian prime minister. “I was there with my Mom. There is…
US futures in the major stock indices are implying a lower open – but only marginally. Dow industrial average futures are implying a gain of 1.25 points. Yesterday, the index closed at a record levelS&P index is down -2.75 points. Yesterday the index rose 14.36 points or 0.25% and closed at a record levelNASDAQ index is down -27.09 points. Yesterday the index rose 100.25 points or 0.56%Shares of Apple are down around 1% in premarket trading on the back of reports of weaker iPhone sales.Nvidia shares are trading up 0.82% after rising near 4% yesterday.Microsoft shares felt -1% yesterday, but…
Natural Gas receives another bullish element besides the geopolitical tensions between Lebanon and Israel. European Gas reserves are seeing current drawdowns outpace recent supply injections. The US Dollar Index is under pressure as China’s stimulus plan leads to investors relocating parts of their investments. Natural Gas futures edge higher on Wednesday after a small pause in their rally the previous day. Heightened geopolitical tensions between Israel and Lebanon are still present, with supply concerns for Europe emerging as well on top. The underground Gas stockpile reserves in Europe are nearly 94% full, which is an excellent level, though more concerning…
Trading, whether it’s currency or stocks or options, is usually associated with money and risk – things that most people find very exciting. The truth, however, is that there is sooo much work behind the scenes that a lot of newbies quit at the onset of boredom. Those who are starting out might be surprised to find that plenty of hours have to be put in when it comes to analyzing economic data, studying the charts, hunting for good setups, and journaling trades. And then there are days when markets are stuck in a range and there are no good…
Robert vt Hoenderdaal/iStock Editorial via Getty Images Rentokil’s (NYSE:RTO) stock rose as much as 4% in premarket trading Wednesday after the pest control company said Brian Baldwin, head of research at the activist Trian Fund Management, will join the board as a non-executive director. Earlier this month, the Source link
Cautious approach to easing monetary policy is appropriateLooking for incoming data to provide evidence that risk of persistent inflation is diminishingWage growth has fallen but remains above what our suite of models can explainRisks to activity are to the upside, which could suggest long run neutral rate is higherThis just reaffirms their stance from last week. But as things stand, traders are expecting them to cut rates again in November following the pause this month. The odds priced in by the OIS market are now at ~86% for a 25 bps move then. This article was written by Justin Low…
USD/CAD loses ground due to rising dovish sentiment surrounding the Fed’s policy outlook. Fed’s Bowman urged caution regarding central bank rate cuts, citing inflation indicators above the 2% target. The commodity-linked CAD may struggle due to lower crude Oil prices amid investors re-assessing the effectiveness of China’s stimulus plans. USD/CAD hovers around 1.3430 during the early European hours on Wednesday. The pair received downward pressure following the bumper interest rate cut of 50 basis points by the US Federal Reserve (Fed) last week. The US Dollar (USD) may depreciate further due to expectations for further rate cuts by the Fed…
EUR/CHF just broke a weeks-long uptrend! Does this mean the pair is ready for a reversal? The upcoming SNB policy decision might tip the scales in favor of the bears! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
OFS Credit Company (NASDAQ:OCCI) priced an underwritten public offering of 1.04M shares of 7.875% Series F term preferred stock due 2029 at a public offering price of $25.00 per share. Gross proceeds expected to be $26M. Underwriters have a 30-day option Source link
SHANGHAI (Reuters) -China’s central bank lowered the cost of its medium-term loans to banks on Wednesday in a move consistent with broad policy easing measures announced a day earlier to shore up a flailing economy. The People’s Bank of China (PBOC) said it cut the rate on 300 billion yuan ($42.66 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions to 2.00% from 2.30%. The bid rates in Wednesday’s operation ranged from 1.90% to 2.30%, and the total balance of MLF loans now stands at 6.878 trillion yuan, the central bank said in an online statement.…