Author: FX

HANG SENG, KOSPI, TOPIX – Price Action:The Hang Seng Index, Kospi, and Topix have maintained a weak bias.Asian indices are at key support ahead of the US Fed interest rate decision.What is the outlook and the key levels to watch?Supercharge your trading prowess with an in-depth analysis of US Equities, offering insights from both fundamental and technical viewpoints. Claim your free Q4 trading guide now! Recommended by Manish Jaradi Get Your Free Equities Forecast Hang Seng Index: Downward momentum is increasingThe sequence of lower-highs-lower-lows since early 2023 is a sign that the Hang Seng Index’s trend remains down. The index…

US stocks on Thursday moved lower, with tech stocks taking another hit, after META (-3.80%) warned about advertising revenue in an uncertain economic environment. Meanwhile, Alphabet (GOOGL) fell another -2.72% on Thursday, adding to Wednesday’s decline, as it reported disappointing cloud revenue. Amazon fell -1.11% in line with other tech stocks, but rallied back over +2%, after Thursday’s close, on a positive earnings report. Amazon’s net sales jumped 13% y/y to reach $143.1 billion, surpassing analysts’ expectations. In the three months ended 30 September, net income skyrocketed 241% to $9.9 billion, with diluted earnings per share surging 235% to $0.94.…

© Reuters. A police officer stands guard near floral tributes at the scene of a crowd crush that happened during Halloween festivities, in Seoul, South Korea, November 29, 2022. REUTERS/Heo Ran/File Photo By Hyunsu Yim and Daewoung Kim SEOUL (Reuters) -One year after Park Young-soo lost her only son in a Halloween weekend crowd crush that killed 159 people in the South Korean capital, she still can’t bring herself to open the door to his room. She says she may not be able to move on with her life until she sees some kind of accountability from the government. Park…

IvelinRadkov/iStock via Getty Images Mizuho cut its rating of Arcutis Biotherapeutics (NASDAQ:ARQT) to neutral and slashed its price target, citing lower than expected prescriptions for the drug roflumilast. The investment bank said it had been bullish on the stock because it believed the market opportunity for the drug in the treatment of psoriasis and three other potential indications was “underappreciated,” based on feedback from dermatologists. “However, the enthusiastic feedback so far hasn’t translated into stronger fundamentals and stock performance,” the bank added, dropping its price target to $4 from $57. Mizuho also said that adoption of the company’s drug Zoryve…

The data from the US on Thursday showed blockbuster GDP growth:And this wasn’t too shabby either:Back to the economic growth data. In response Fitch ratings, first on the headline GDP result:stunningly-strong 4.9% annualised gain in third-quarter GDPEconomic growth transitioned from resilience to reacceleration this quarter, defying the Federal Reserve’s aggressive tightening cycle and tighter financial conditions suggests that the Fed needs to do even moreAnd then on the detail re inflation, the Core PCE down to 2.4% :just as notable was the slowdown in core PCEFitch concludes, on balance:Under those circumstances, the Fed can afford to stay on the sidelines—ps.…

NASDAQ 100 OUTLOOK:Nasdaq 100 breaks down, falling to its lowest level since late May after breaching a key floorFor sentiment to improve, cluster support in the 14,150/13,930 range must hold at all costsThis article analyzes the key technical levels worth watching on the NDX in the coming days. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: British Pound Outlook: GBP/USD Bounded by Fibonacci Support & Trendline ResistanceThe Nasdaq 100 broke down after breaching technical support located in the 14,600 area. This bearish development intensified…

Share: EUR/USD bottomed at a daily low of 1.0521 and recovered towards the 20-day SMA, around 1.0560. The Euro faced selling pressure after the ECB held rates steady, and Lagarde acknowledged the Eurozone’s economic struggles. The USD gained momentum on strong Q3 GDP data, but lower US yields limited the upwards momentum. Focus shifts to PCE data from the US from September. In Thursday’s session, the EUR/USD dropped to a low of 1.0521 and then stabilised around 1.0560, clearing all of its daily losses. During the European session, the European Central Bank (ECB) announced that they will hold…

rgaydos/E+ via Getty Images Nordic American Tankers (NYSE:NAT) +2.9% and Teekay Tankers (NYSE:TNK) +2.1% in Thursday’s trading as Jefferies sees the two companies as top beneficiaries from surging mid-size tanker rates on higher Atlantic Basin cargo volumes, raising their respective stock price targets to $5.50 from $5 and to $58 from $54 previously. Suezmax and Aframax crude tanker spot rates have surged from an average $27K/day during Q3 to ~$70K currently, highlighting a tight supply/demand balance and elevated risk premium with wars ongoing in Israel and Ukraine, Jefferies analyst Omar Nokta noted. Nordic American Tankers (NAT) and Teekay Tankers (TNK)…

OIL PRICE FORECAST:Oil Slips on Demand Fears as US Exports and Imports are on a Steady Decline.Middle East Tensions Ease but Geopolitical Risk Remains and Will Keep Markets on Edge Moving Forward.IG Client Sentiment Shows Traders are 76% Net-Long on WTI at Present.To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section.Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices have fallen today on resurgent demand fears which for now appear to be overshadowing the tensions in the Middle East. There appears to be growing belief that the…

© Reuters. Investing.com — The S&P 500 fell Thursday, pressured by a Meta-led slump in tech as concerns about slowing advertising growth offset better-than-expected quarterly results. The fell 0.8%, the fell 1.4%, and the fell 0.4% or 123 points. Meta leads tech lower after downbeat outlook on advertising demand Meta Platforms (NASDAQ:) fell more than 3% after it flagged weaker advertising demand seen in the fourth quarter so far. Concerns about slowing growth overshadowed Q3 results that beat analyst estimates on both the amid cost-cutting measures that boosted margin. The social media giant attributed some of the weakness to the Israel-Hamas…