Author: FX
Lockheed Martin awarded $141.51M Navy contract modification Source link
© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo By Suzanne McGee and Hannah Lang (Reuters) – U.S. SEC officials met on Thursday with representatives of at least seven companies hoping to launch exchange-traded funds (ETFs) tied to spot bitcoin early in 2024, and told at least two to submit final changes by the end of next week, according to public memos and two people familiar with the discussions. Among those holding discussions with the Securities and Exchange Commission were…
Major US stock indices are closing the day mixed. The Dow Industrial Average is modestly lower while the S&P and NASDAQ closed higher on the day. For the trading week, all the major indices were higher for the eighth consecutive week gain.A snapshot of the closing level shows:Dow Industrial Average fell -18.54 points or -0.05% at 37385.98S&P index rose 7.87 points or 0.17% at 4754.63Nasdaq index rose 29.10 points or 0.19% at 14992.96The small-cap Russell 2000 rose 16.89 points or 0.84% at 2033.96For the S&P index it reached a high today of 4772.94. That came within 14 points of its…
Share: Gold pulls back after testing $2,070 ahead of Friday’s pre-holiday close. Rising investor bets of faster, more frequent Fed rate cuts squeeze Gold higher. US inflation continues to cool off, Treasuries ease back amidst risk appetite recovery. XAU/USD briefly tested above $2,070 on Friday before paring back toward the day’s opening bids. With the Federal Reserve’s (Fed) main interest rate at a 22-year high, markets are incredibly eager for the Fed to begin cutting interest rates, and receding US inflation is pinning investor hopes of an accelerated pace of Fed rate cuts in 2024. The US Annualized…
The price of crude oil futures are settling at $73.56, down -$0.33 or -0.45%.The high price reached $74.95. The low price extended to $73.41.For the trading week, crude is up for the second consecutive week. The price is up $1.81 or 2.53%. Last week the price rose $0.54 or 0.75%.For the trading year, the price is down around -$6.92 or -8.60%.This week, Angola announce that they were leaving OPEC+ due to disputes on production quotas. Angola’s quota is about 1.1 million barrels or around 2% of OPEC+ output. The weekly inventory data show that:Crude stocks had a build of 2.909…
Share: The US Dollar is rebounding from Friday’s selloff as investors gear up for holiday. The Loonie briefly rallied to a fresh 19-week high as rate-hungry markets pummel the USD. USD/CAD set for a fifth weekly decline in six straight weeks. The USD/CAD pared back above 1.3260 after plunging to a fresh 19-week low on Friday as markets continue to price in an accelerated pace of rate cuts from the Federal Reserve (Fed) in 2024 as US inflation continues to ease faster than initially expected. Canadian GDP stalls out, US inflation continues to recede The Canadian Dollar is…
The major US stock indices have give up gains and trade in negative territoryDow Industrial Average is trading down -100 points or -0.27% at 37306S&P index is down -5.31 points or -0.12% at 4741.35Nasdaq index is down -13.70 points or -0.09% at 14949The small-cap Russell 2000 is still higher on the day by 13.10 points or 0.65% at 2030.13.Markets are illiquid as traders work toward the Christmas weekend and the last week of the trading year next week. This article was written by Greg Michalowski at www.forexlive.com. Source link
Share: Holiday-thinned trading, a shortened week, and a light economic calendar point to abnormal price action in the last days of 2023. Will Santa’s rally continue? Will the US Dollar remain under pressure? Here is what you need to know for next week: The economic calendar is light next week. Adding to this, holiday-thinned trading could favor limited price action while at the same time encouraging false breakouts. Most trading platforms won’t be functional on Monday. It was another positive week for equity prices. The Dow Jones reached all-time highs, while US Treasury yields moved lower. The 10-year…
Share: Economists at CIBC analysed growth data from Canada released on Friday. Looking at rate cuts in Q2 2024 Today’s data were more naughty than nice, with monthly GDP pointing to little rebound in the economy in the fourth quarter following Q3’s contraction. While supply constraints, including most recently the US auto strike and St. Lawrence Seaway strike, continue to disrupt activity, there is evidence of weak domestic demand as well. That weakness should see inflation ease more sustainably next year, and we still see a first interest rate cut from the Bank of Canada in Q2 2024. …
Share: EUR/USD hits 18-week high on Friday. Pre-holiday markets are producing some rough chop heading towards the Friday close. Slowing US inflation is pushing down the Greenback as markets bet on rate cuts. The EUR/USD climbed into an 18-week high at 1.1040 before slipping back towards 1.1000 as markets wind up operations before heading into the holiday break. US inflation missed the mark on Friday, printing below expectations and keeping investor expectations of Federal Reserve (Fed) rate cuts accelerating in 2024. Read More: US PCE inflation softens to 2.6% from a year ago vs. 2.8% expected US Personal…