Author: FX

marrio31 Johnson & Johnson (NYSE:JNJ) spinout Kenvue (KVUE) upsized its hotly anticipated initial public offering, pricing shares at the upper end of its previously issued range to raise $3.8B. Kenvue, which was J&J’s consumer products division, offered 173M shares at $22 per share. Underwriters were granted a 30-day option to buy up to 26M additional shares to cover over-allotments. Shares are expected to begin trading on NYSE under the symbol KVUE on Thursday, May 4. After the IPO closes, J&J will own 91% of Kenvue’s outstanding common stock or 90% if the underwriters exercise their option in full. Goldman Sachs,…

The USDIndex witnessed a modest decline on Wednesday of -0.59%. Lower T-note yields on Wednesday weakened the US Dollar. Also, the lack of clarity regarding the US debt ceiling weighed on the dollar after Treasury Secretary Yellen said the Treasury may run out of cash to pay its bills as soon as 1 June, unless the debt ceiling is raised. The dollar maintained a modest decline on Wednesday despite the Fed raising rates by 25 bp in line with forecasts, as well as economic data that tended to favour the dollar. April ADP employment change rose +296,000, stronger than expectations…

© Reuters. A China Eastern Boeing 777-300ER plane departs from O’Hare International Airport in Chicago, Illinois, U.S. November 30, 2018. REUTERS/Kamil Krzaczynski/File Photo WASHINGTON (Reuters) – The U.S. Transportation Department (USDOT) on Wednesday issued an order approving Chinese airlines to increase their U.S. passenger services to 12 weekly round-trip flights — a figure equivalent to the total number of flights Chinese aviation authorities will allow for U.S. carriers. The three U.S. carriers currently operating scheduled passengers service in the U.S.-China market — American Airlines (NASDAQ:), Delta Air Lines (NYSE:), and United Airlines — will be approved to operate four weekly round-trip flights between the United States…

Will the U.S. non-farm payrolls (NFP) report turn around the recent negative vibes in the Greenback? Here are a few data points to know if you’re planning on trading the event: Event in Focus: U.S. Monthly Employment Situation Summary from the U.S. government for April 2023 When Will it Be Released: May 5, Friday: 12:30 pm GMT, 1:30 pm London, 8:30 am New York, 9:30 pm Tokyo Expectations: U.S. Non-Farm Payrolls Change m/m: 190K forecast vs. 236K previous U.S. Average Hourly Earnings m/m: +0.3% m/m forecast vs. 0.3% m/m previous U.S. Unemployment Rate: 3.6% forecast vs. 3.5% previous Based on…

CIBC on the Fed decision Wednesday, this in brief:This is a hawkish pause, as the committee says it will be looking for signals on the need for additional firming, rather than a balanced statement that would have referenced potential moves in either direction. Similarly, the statement highlighted that policymakers are “highly attentive” to inflation risks, with no similar statement on recession risks. When asked about recession risks, Powell said that it was his view that the economy would still see modest growth over the rest of the year, and he therefore does not foresee a recession. But if, as we…

Share: US Dollar came under renewed selling pressure on Wednesday. Dovish Fed tone weighs on US Treasury bond yields and force US Dollar lndex to push lower. FOMC Chairman Powell refrained from committing to a pause in the tightening cycle. The US Dollar (USD) struggled to find demand during the American trading hours on Tuesday and the US Dollar Index (DXY) snapped a three-day winning streak. The USD stays under heavy selling pressure mid-week and the DXY trades deep in negative territory as investors lean toward a dovish tilt in the Federal Reserve’s (Fed) policy outlook. Although the Fed raised…

Papa John's Q1 2023 Earnings Preview Source link

CRUDE OIL PRICES FORECAST:Oil prices plummet, extending losses from the previous session and falling to their lowest level since late MarchGrowing economic risks weigh on demand prospects for growth-sensitive commoditiesOil’s technical outlook worsens following the invalidation of two key support levels Recommended by Diego Colman Get Your Free Oil Forecast Most Read: Crude Oil Price Punished Ahead of Fed on Recession Fears. Will WTI Push Lower?Crude oil prices plunged on Wednesday, extending losses from the previous session and sinking to their lowest level since March 24, undermined by growing macroeconomic headwinds, including the possibility of a U.S. recession in the…

U.S. Closes in on Crypto Consensus Amid Plans for SEC & CFTC Collab The lack of a crypto regulatory framework is a major pain point for firms.The regulatory scene is in chaos as agencies like the SEC and the CFTC battle for dibs.Lawmakers are now looking to close the divide with an unprecedented partnership. The lack of a crypto regulatory framework in the United States remains a concern for many, particularly as the U.S. Securities and Exchange Commission has ramped up its crypto enforcement efforts.The situation may, however, be set to change as two key panels in Congress have announced…

Dollar bears take control midweek as FED interest rate decision looms. Dollar The Greenback rolls into midweek retreating from its highest level in three consecutive weeks. Factors driving this selling pressure can be attributed to mixed US economic data as JOLTS job openings for the month of March showed a slight decline from the expectations, coming in at 9.59M from a prior reading of 9.74M. Additionally, the lack of significant bullish momentum on the Dollar can be linked to the pre-FED caution ahead of today’s key FOMC meeting where a solid 0.25% increase in interest rates is pretty much nailed…