Author: FX

jewhyte Microsoft (NASDAQ:MSFT) announced pricing for its generative artificial intelligence tool Copilot, this week at $30 per user per month, a cost that Wall Street saw as a pleasant surprise. With other companies just starting to price their respective offerings, several on Wall Street believe that Microsoft’s (MSFT) strong position in AI could result in a “tidal wave” of revenue growth for the company. Morgan Stanley analyst Keith Weiss, who has an overweight rating on Microsoft (MSFT) and per-share price target of $415, said the tech giant is building momentum with its generative AI solutions, which should help it boost…

© Reuters. FILE PHOTO: Labourers work next to electricity pylons in Mumbai, India, October 13, 2021. REUTERS/Francis Mascarenhas/File Photo By Sudarshan Varadhan and Nidhi Verma BAMBOLIM, India (Reuters) – A draft statement by Group of 20 energy officials was edited on Saturday to reflect concerns from some members on phasing down “unabated” fossil fuels, according to documents reviewed by Reuters and two people familiar with the matter. Major fossil fuel producers Saudi Arabia and Russia have opposed a proposal to triple G20 countries’ renewable energy capacity in long debates at a ministers’ meeting in India working on a statement for…

SYDNEY (Reuters) – The United States commissioned a warship in Sydney, Australia, on Saturday, the first time a U.S. Navy vessel joined active service at a foreign port, as the two close allies step up their military ties in response to China’s expanding regional reach. The Independence-class littoral combat ship – named after a Royal Australian Navy cruiser that was sunk while supporting the U.S. Marine landings on Quadalcanal in 1942 – was commissioned at a ceremony at an Australian naval base on Sydney Harbour, officially joining the U.S. Navy’s active fleet. “Australians can be proud that this ship, designed…

SlavkoSereda/iStock via Getty Images The Biden administration moved this week to hike royalties and other fees for companies drilling for oil and gas on public lands. A rule proposed by the U.S. Interior Department would hike the minimum royalty rate for federal drilling rights by more than a third to 16.67% from the previous 12.5% rate that had been paid by oil and gas companies for a century. Bonding requirements would rise for the first time since 1960, to $150K per lease from $10K, to help clean up drilling sites after they are done or cap wells that are abandoned,…

Gilead abandons phase 3 study of magrolimab for myelodysplastic syndromes Source link

Share: EUR/GBP fails to decisively break above the 100 and 200-day EMAs at 0.8664 and 0.8679, respectively, after hitting a two-month high at 0.8700. If EUR/GBP pulls back, support levels emerge at 50-day EMA at 0.8619, 0.8600, 20-day EMA at 0.8594, and July 10 high at 0.8584. A break above 0.8700 will set sights on the next resistance at the May 11 high of 0.8734, followed by the resistance trendline from the YTD high at 0.8978 around 0.8740/50. The EUR/GBP finished Friday’s session almost flat, failing to decisively break above the 100 and 200-day Exponential Moving Averages (EMAs),…

Share: USD/JPY bears are waiting to make the move. Bears eye key resistance near a 61.8% Fibonacci, but note higher prospects. The yen dropped against the dollar on Friday after Reuters reported the Bank of Japan (BoJ) is leaning toward keeping its key yield control policy unchanged next week. We have seen a range of between 139.74 and 141.95 on Friday and this sets up next week for a possible correction from a 61.8% Fibonacci retracement area in the opening range: USD/JPY technical analysis USD/JPY H4 chart However, the high of last week, HoLW, could be a target…

Share: XAU/USD fell near the 100-day SMA near $1,960 but held weekly gains. USD continued to gain ground on Friday following solid Jobless Claims data. All eyes are on the FOMC decision next week. At the end of the week, the XAU/USD traded near the 100-day Simple Moving Average of $1,962, experiencing a 0.30% decline but recorded a weekly gain, its third in a row. The prevailing strength of the US Dollar continues to exert downward pressure on XAU/USD. Notably, the recent release of Initial Jobless Claims data by the US Department of Labor revealed a lower figure…

© Reuters. FILE PHOTO: U.S. Representative Terri Sewell (D-AL) speaks, at the commemoration of the 58th anniversary of “Bloody Sunday”, when state troopers beat peaceful voting rights protesters who were marching against discrimination, at the Edmund Pettus Bridge i By Josephine Walker and Joseph Ax (Reuters) -Alabama’s Republican-controlled legislature on Friday passed a new congressional map that increased the number of Black voters in one of the state’s districts, but Democrats said the plan defied a U.S. Supreme Court ruling intended to protect minority voters’ rights. Civil rights groups have already vowed to challenge the new map in court, a…

Markets:Gold down $8 to $1961WTI crude oil up $1.27 to $76.92US 10-year yields down 1.7 bps to 3.83%S&P 500 down 2 points to 4564CHF leads, JPY lagsThe economic calendar was light and there was little in the way of unscheduled news to jar the market. Heavy options expiries in stocks and the Nasdaq rebalancing drew some interest but price action was ultimately subdued, though not entirely quiet.The big mover on the day was what looks like a BOJ leak to Reuters that the BOJ isn’t planning to change up yield curve control next week. That kicked off big yen sales…