Author: FX
US Dollar, DXY, S&P 500, Treasury Yields, ADP Data – Asia Pacific Market OpenUS Dollar and Treasury yields soar, S&P 500 sinks on ADP reportThe rosy data sets a high expectation for Friday’s non-farm payrollsThe DXY Dollar Index is increasingly showing signs of reversing Recommended by Daniel Dubrovsky Get Your Free USD Forecast Asia-Pacific Market Briefing – ADP Employment Report Sets High Expectations for NFPsThe US Dollar outperformed its major counterparts on Thursday, with the DXY Dollar Index gaining 0.85 percent. If the currency maintains its position, the US Dollar will be heading for its best week since the middle…
zimmytws SPAC Fortune Rise Acquisition Corp. (NASDAQ:FRLA) has signed a non-binding letter of intent to merge with water fintech Water On Demand, a subsidiary of OriginClear (OTCPK:OCLN). In late December, Water On Demand announced it had closed on an acquisition of equity interests in the SPAC’s backer, Fortune Rise Sponsor. The SPAC went public in November 2021, raising $85M. FRLA had been slated to merge with digital assets company VCV Digital Technologies through a deal that estimated the enterprise value of the combined company at $294M. The companies mutually terminated the deal in July. Source link
3/3 © Reuters. FILE PHOTO: A view of the exterior of the newly presented Zeekr, a self-driving ride-sharing vehicle by Waymo, prior to the start of the Los Angeles Auto Show in Los Angeles, California, U.S., November 16, 2022. REUTERS/Carlos Barria/ 2/3 By Joseph White LAS VEGAS (Reuters) – Chinese electric vehicle brand Zeekr aims to double sales in 2023 to about 140,000 vehicles and plans to expand sales in Europe, Chief Executive Andy An told Reuters on Thursday. Zeekr, a brand created by Chinese automaker Geely, sold 72,000 vehicles in 2022, mostly in China. Its 001 model, priced at about 300,000 yuan ($43,600), competes…
Bloomberg (gated) had the report overnight, citing unnamed sources. The article says that in order to increase demand in the real estate market China may set a national cap on real estate commissions. regulate brokerage fee collectionare considering 2% to 2.5% of the sale price as a guidecap likely to be adjusted every one to three years based on conditions in the property sector no decision has been made on the policy and fee capannouncement may come at the end of JanuaryThere are ongoing moves from China to support its debt-implosion-devastated property market. This also overnight:Meanwhile, stock markets in China…
FAT Brands declares $0.14 dividend Source link
© Reuters. FILE PHOTO: U.S. President Joe Biden speaks to the news media before boarding Marine One for travel to Kentucky from the South Lawn of the White House, in Washington, U.S., January 4, 2023. REUTERS/Leah Millis/File Photo By Andrea Shalal and Ted Hesson WASHINGTON (Reuters) -The United States will use Trump-era restrictions to rapidly expel Cuban, Nicaraguan and Haitian migrants caught illegally crossing the U.S.-Mexico border, President Joe Biden said Thursday in his first major speech on border security. At the same time, the United States will allow up to 30,000 people from those three countries plus Venezuela to…
What you need to take care of on Friday, January 6: The American Dollar aimed higher early Thursday, backed by the echoes of a hawkish Fed. It gained additional momentum ahead of Wall Street’s opening following the release of upbeat US employment-related figures. The United States Challenger Job Cuts report showed that layoffs were down to 43.651K in December from 76.835K in the previous month. Additionally, the ADP survey on Employment Changed showed that the private sector created 235,000 new positions in the same month, much better than anticipated. Finally, Initial Jobless Claims declined to 204,000 in the last week…
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Bim/iStock via Getty Images U.S. stocks on Thursday fell as investors digested more jobs data which pointed to a highly resilient labor market that paves the way for the Federal Reserve to stick to its aggressive path of rate hikes. By mid-day, the tech-heavy Nasdaq Composite (COMP.IND) declined 1.19% to 10,334.57 points. The benchmark S&P 500 (SP500) fell 1.17% to 3,807.76 points, while the blue-chip Dow (DJI) retreated 1.24% to 32,856.78 points. Of the 11 S&P sectors, ten were trading in the red, led by Real Estate and Utilities. Energy was the only gainer. In the main economic news of…
On Friday, the US official employment report will be released. Market consensus is for an increase in payroll by 200K. Analysts at Wells Fargo point out the demand for workers has started to roll over. They argue job openings and hiring plans have declined since the start of 2022, and the trend in layoffs is no longer improving. Some reports suggest labor market is cooling more than recent payroll numbers indicate “The buoyancy of nonfarm payroll growth has seemed at odds with other signs that the jobs market is beginning to sour. We look for nonfarm payroll growth to downshift…