Author: FX
The major US stock indices are closing lower on the day and for the trading week. The declines for the weeks snap a 5-week winning streak. The declines on the day come after two days of higher closes. The NASDAQ and the Russell 2000 were the biggest losers as rates moved higher, and some of the high flyers saw profit-taking.The final numbers are showing:Dow industrial average fell -145.15 points or -0.37% at 38627.98S&P index fell -24.16 points or -0.48% at 5005.56NASDAQ index fell -130.53 points or -0.82% at 15775.64For the Russell 2000 it fell -28.73 points or -1.39% at 2032.74For…
AI imageHere’s the latest from the New York Times:Israel carried out covert attacks on two major gas pipelines inside Iran this week, disrupting the flow of heat and cooking gas to provinces with millions of people, according to two Western officials and a military strategist affiliated with Iran’s Revolutionary Guards Corps.Now I don’t know if that’s true or false. Earlier blame was placed groups in Saudi Arabia and other enemies in Iran. A chemical factory explosion was also done by Israel, according to the report.What I can’t figure out is why this was leaked. To be clear, there are no…
AI imageLikely Republican Presidential candidate Donald Trump will have to write another big check after he lost a civil fraud case in New York. A judge fined him $364 million and barred him from running any business in the state for three years.During the three-month trial he was accused of inflating asset values in order to get better terms on loans.“In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements,” presiding judge Arthur Engoron wrote. “When confronted at trial with the statements, defendants’ fact and expert witnesses…
Sundry Photography/iStock Editorial via Getty Images Palo Alto Networks (NASDAQ:PANW) is scheduled to report second-quarter earnings on Tuesday, February 20th, after market close. Analysts expect a year-over-year increase in both the top and bottom lines, with earnings per share of $1.30 on revenues of $1.97 billion. The cybersecurity firm is expected to post strong second-quarter results as it benefits from expanding cyber budgets, resilient demands for its services, and requirements from both regulators and insurers. Consolidation will be another important theme as enterprise customers consolidate their cybersecurity vendors to combat vendor sprawl. One of the key metrics investors will be…
Share: Wall Street’s main indexes trade mixed after opening marginally lower on Friday. Producer inflation data from the US came in stronger than forecast. Communication Services Sector is the worst-performing major S&P 500 sector midday. The S&P 500 (SPX) index fell 0.48% to close the session at 5,005.57. The Dow Jones (DJIA) dropped 0.37% to end at 38,627.99, while the Nasdaq (IXIC) lost 0.82% to finish at 15,775.65. Stock market news The Communication Services sector ended Friday in the red by 1.56% as the worst-performing major S&P sector, followed by the Real Estate Sector that shed 0.99% by…
© Reuters Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.24% Investing.com – Denmark stocks were higher after the close on Friday, as gains in the , and sectors led shares higher. At the close in Copenhagen, the gained 0.24% to hit a new all time high. The best performers of the session on the were Pandora A/S (CSE:), which rose 2.35% or 26.00 points to trade at 1,134.00 at the close. Meanwhile, Jyske Bank A/S (CSE:) added 1.94% or 10.20 points to end at 536.00 and Carlsberg A/S B (CSE:) was up 1.16% or 10.80 points…
Most Read: Gold (XAU/USD) Picking Up a Small Bid as Oversold Conditions Begin to ClearUSD/JPY rallied and consolidated above the 150.00 threshold on Friday, rebounding from the slight dip in the previous trading session. This uptick was fueled by rising U.S. Treasury yields following higher-than-expected U.S. producer price index figures, which echoed the hot CPI report from earlier in the week.By way of context, headline PPI clocked in at 0.9% y-o-y, one-tenth of a percentage point above estimates. Similarly, the core gauge surprised on the upside, reaching 2.0% y-o-y compared to the anticipated 1.6%, indicating a potential reacceleration in wholesale…
Share: Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Friday that his outlook is for a reduction in policy rate in the summer time, per Reuters. Bostic noted that the economy still has tremendous momentum and added that he expects two rate cuts in 2024. Commenting on the latest inflation figures, Bostic acknowledged that he was “a little surprised by the data” and said that they will look for progress in underlying measures of inflation. Market reaction The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily gains at…
Share: Markets have pushed back on expectations for the Fed cut. Economists at OCBC Bank analyze its implications for the Gold price. Headwinds from higher yields and stronger DXY may weigh against any building momentum Near-term headwinds from higher treasury yields and a stronger DXY profile may weigh against any building momentum in Gold prices. The expectations on the timing of the first Federal Reserve rate cut and the magnitude of the cut will continue to drive volatility in Gold prices in the interim. Source link
Share: In the US, investors are concerned about the commercial real estate (CRE) market. Economists at Commerzbank provide an overview of the situation. Neglected risks tend to lead to greater turbulence It is likely that it will take several years to overcome the problems, particularly in the office real estate sector. The Federal Reserve does have instruments at its disposal with which it could probably prevent a systemic crisis; if the worst comes to the worst, it would probably also revive the ‘Bank Term Funding Program’ (BTFP), which is due to expire in March as planned. However, the…