Author: FX
On Friday, shares of Nvidia fell 4% and chipmakers dragged the Nasdaq to its lowest in the three weeks.One reason for the sell-off was a Goldman Sachs note from Peter Oppenheimer arguing that traffic to ChatGPT was plunging. Goldman published this chart, which was later widely circulated (including in the Financial Times). It showed the number of visits to ChatGPT:The chart was further picked up by the usual suspects who argued that ChatGPT is a gimmick, that Meta/Grok/Anthropic is eating its lunch, that it went woke or whatever other agenda they were pushing.The truth is embarrassingly simple.The URL of ChatGPT…
RiverNorthPhotography/iStock Unreleased via Getty Images Trian Partners founder and billionaire investor Nelson Peltz has resigned as non-executive chairman of The Wendy’s Company (NASDAQ:WEN), a position he served for over a decade, the U.S. fast food chain announced late Friday. The company added that the 82-year-old activist investor, who became Wendy’s (WEN) non-executive chairman in 2007, is resigning to spend more time on the future of his hedge fund and other board commitments. Arthur Winkleblack, who has served as Wendy’s (WEN) lead independent director since October 2023 and a board member since 2026, is succeeding Peltz. The Dublin, Ohio-based quick-service restaurant…
LONDON (Reuters) – The heads of the U.S. CIA and Britain’s spy service said in an op-ed on Saturday that “staying the course” in backing Ukraine’s fight against Russia was more important than ever and they vowed to further their cooperation there and on other challenges. The op-ed in the Financial Times by CIA Director William Burns and Richard Moore, chief of the Secret Intelligence Service, was the first ever jointly authored by heads of their agencies. “The partnership lies at the beating heart of the special relationship between our countries,” they wrote, noting that their services marked 75 years…
KYIV (Reuters) – Ukraine’s air force said on Saturday Russia launched a total of 67 long-range drones in a mass overnight attack, 58 of which it was able to shoot down. The air force said in a statement on the Telegram app that air defence units were scrambled into action in 11 regions across Ukraine. Reuters correspondents in Ukraine’s capital, Kyiv, heard a series of explosions shortly after 3 a.m. (0000 GMT) on Saturday, some of which resounded loudly around the city centre. Since the start of its invasion in February 2022, Moscow has launched thousands of missiles and long-range…
dima_zel After a disappointing test flight, Boeing’s (NYSE:BA) Starliner spacecraft returned to Earth shortly after midnight on Saturday without the crew it carried to the International Space Station a few months ago. The space vehicle landed at White Sands Space Harbor in New Mexico at 12:01 am ET on Saturday, NASA announced. Boeing (BA) launched Starliner with NASA astronauts Butch Wilmore and Suni Williams aboard, a milestone for the aircraft maker’s space program marked by years of development hangups and test flight delays. The liftoff occurred on June 5 atop the Atlas 5 rocket, built by the company’s joint venture…
This week our currency strategists focused on the U.S. ISM Manufacturing PMI data and the Bank of Canada (BOC) Monetary Policy Statement for potential high-quality setups. Out of the four scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay. Check out our review on those discussions to see what happened! Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management…
Understanding market volatility is crucial for any aspiring trader. Prices don’t move in a straight line, and navigating the ups and downs can feel like a rollercoaster ride. This is where technical analysis tools like Bollinger Bands come in – a powerful and versatile indicator that can help you visualize price movements and identify potential trading opportunities within the ever-shifting market landscape. Developed by John Bollinger in the 1980s, Bollinger Bands are a staple in the technical analysis toolbox. They consist of three lines plotted around a price chart: Moving Average: This central line represents the average price movement over a…
By Joshua McElwee PORT MORESBY (Reuters) – Pope Francis arrived in Papua New Guinea on Friday evening from Indonesia, where the 87-year-old leader of the global Catholic Church will continue an ambitious 12-day tour across Southeast Asia and Oceania. The Garuda Indonesia plane carrying the pope and his entourage arrived in Port Moresby, the Papua New Guinean capital, where he will stay for the next three nights. The pontiff, departing the plane using his wheelchair, was met on the tarmac by Deputy Prime Minister John Rosso and senior members of the Catholic Church in the country. Local children presented him with…
The forex spotlight was mainly on U.S. jobs-related data throughout the shortened trading week, as traders braced for the August NFP release later on. Any other catalysts that pushed major currencies around? Source link
This trading week proved to be an extra rough one for risk assets, as market players had to balance top tier economic updates, U.S. tech sector woes and OPEC developments. U.S. jobs indicators were arguably the main attraction as pre-NFP jitters drew reactions, mostly risk aversion behaviors and anti-dollar moves. Which headlines made the biggest waves in the markets this week? We have the deets! 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…