Author: FX
The major US stock indices closed at new record levels. Lower-than-expected CPI, the expectation for Fed cut next week, and FOMO (fear of missing out), sent prices higher. Intel did report better than expected earnings after the close yesterday, helping to send chip stocks higher. AMD was also boosted after IBM, said it is able to run a key quantum computing error correction algorithm on commonly available chips from AMD.At the close the snapshot of levels showed:Dow Industrial average up 472.51 points or 1.01% at 47207.12S&P rose 53.25 points or 0.79% at 6791.69Nasdaq rose 263.07 points or 1.15% at 23204.87.Next…
The major stock indices are extending to new session rise as the day works toward a close. The NASDAQ index is up 317 points or 1.3%. The S&P index is now up 1% on the day.Both the S&P and NASDAQ are on pace to close at record levels as is the Dow industrial average which is currently up 550 points or 1.18%.Next week, a slew of companies will highlight the earnings season. Meta, Microsoft, Alphabet will announce earnings after close on Wednesday. Apple and Amazon will announce earnings on Thursday. Nvidia does not announce until November 19. Source link
Svenska Cellulosa GAAP EPS of SEK1.19, revenue of SEK4.99B Source link
Next week, the FOMC rate decision on Wednesday will be the highlight at 2 PM. Fed chair Powell press conference will follow at 2:30 PM ET. The Fed is expected to cut rates by 25 basis point after cutting rates by 25 basis point at the last meeting and forecasting to more interest rate cuts before the end of the year.With the government shutdown, the normal economic releases will not take place. Over there are a slew of earnings including Boeing, Microsoft, Meta, alphabet, Amazon, and Apple.MondayBefore OpenAfter CloseBed Bath & BeyondWhirlpoolTuesdayBefore OpenSoFiUnitedHealth GroupPayPalUPSCorningD.R. HortonAfter CloseBooking HoldingsVisaElectronic ArtsWednesdayBefore OpenAfter CloseMetaMicrosoftAlphabetChipotleServiceNowStarbucksThursdayBefore…
The EURUSD traded both lower and higher today, extending to the upside after the weaker U.S. CPI data. However, sellers leaned against a swing area between 1.1645 and 1.1659, capping the move and sending the pair back down. The price has since settled back between the 100 and 200 hour MAs (blue and green lines) between 1.1613 and 1.1633, with the current price around 1.1626.With the pair now trapped between the moving averages, the technical bias is neutral heading into the weekend. Next week, traders will be looking for a clear break in either direction — and follow-through momentum.On the…
US military to deploy aircraft carrier to South America amid soaring tensions with Venezuela Source link
The weekly Baker Hughes rig count data showed:Oil +2 to 420Gas unchanged at 121Total rigs +2 to 550Crude oil rallied strongly this week, gaining 7.9%. The move higher was fueled by several catalysts. First, the U.S. government announced plans to purchase oil for the Strategic Petroleum Reserve (SPR), calling it “a great time to buy oil.” That call proved timely — almost prophetic — as the U.S. later imposed sanctions on Russian oil companies. (Insider timing never hurts.)Adding to the bullish tone, Wednesday’s EIA report showed a larger-than-expected drawdown in inventories, reinforcing the demand outlook and supporting the week’s advance.From…
The GBPUSD moved higher after the weaker-than-expected U.S. CPI report, but the rally quickly lost steam once price reached the 100-hour moving average. Buyers turned to sellers, capping the move and sending the pair back lower.The decline pushed the pair below the key swing area between 1.3323 and 1.3341, and through the early-week lows near 1.3305, to a new session low at 1.32865. Buyers had their chance — they failed — and sellers have taken control.Going forward, the 1.3323–1.3341 zone now acts as near-term resistance, with the falling 100-hour MA at 1.33545 just above it. It would take a move…
Major European indices are closing higher on the day and for the week as well:German DAX, +0.13%. For the week 1.72%France’s CAC, unchanged. For the week +0.63%UK’s FTSE 100 +0.70%. For the week +3.11%.Spain’s Ibex, +0.44%. For the week +1.67%.Italy’s FTSE MIB +0.25%. For the week +1.74%As London/European traders head for the exits with smiles on their faces, US indices are also moving higher today and or higher for the week. All are on pace for record closes.Dow industrial average was 556 point or 1.19% at 47291.. The index is up 2.18% for the week.S&P index up 64 points or…
Dialogue between Russia and USD is continuing despite recent unfriendly steps from Washington.Such dialogue is only possible if Russia’s interests are treated with respect. Various forces, mainly UK and Europeans, trying to derail direct dialogue between PutinThese things are going nowhere but the gameplan of grooming Trump (blaming UK and Europe) is back on. This article was written by Greg Michalowski at investinglive.com. Source link