Author: FX
The price of crude oil is settling at $68.37. That is up $1.17 or 1.7%.The high price reached $68.85. The low price was at $67.07.Looking at the hourly chart, the high price today was able to breach the near-converged 100 and 200-hour moving averages at $68.63. However, the price could not sustain momentum above that level and is settling the day below the key moving averages. It would take a move and close above those moving averages to increase the bullish bias.Conversely, on the downside the low today stalled near the high of the swing area between $66.31 to $67.10.…
The Dow Jones marked out familiar territory near 44,600. Equity traders were pushed into a cautious stance after a policy pivot from China. Investors will get a breather from high impact data until midweek CPI inflation figures. The Dow Jones Industrial Average (DJIA) churned near 44,600 as equities kick off the new trading week on a quiet note. Markets bucked early Monday after China announced its first official monetary policy shift in 13 years. However, risk appetite was hobbled by geopolitical risks from the Middle East and South Korea. Political turbulence dampened investor mood during Monday’s overnight session. Chinese political…
Roland Magnusson AstraZeneca (NASDAQ:AZN) has received FDA Breakthrough Therapy Designation for its drug Dato-DXd, also known as datopotamab deruxtecan, for the treatment of EGFR-mutated lung cancer. The drug received the designation for locally advanced or metastatic EGFR-mutated non-small cell lung cancer with Source link
On Monday, US stocks with significant ties to China, spanning from materials and consumer sectors to Chinese ADRs, experienced a notable rally. This surge came in response to announcements by China’s top leaders, signaling a shift towards more accommodating monetary and fiscal policies. The KraneShares CSI China Internet ETF saw an 11% increase, with major internet companies such as Alibaba (NYSE:), Baidu (NASDAQ:), PDD, JD (NASDAQ:).com, NetEase (NASDAQ:), Trip.com, KE Holdings, and Bilibili (NASDAQ:) all making substantial gains in New York. The Hang Seng Tech Index, after initially shedding some value, rebounded to close 4.5% higher, while the broader rose…
Stock heatmap by FinViz.com Mon, 09 Dec 2024 14:46:10 GMT🔍 Stock Market SnapshotToday’s stock market paints a mixed picture, with significant fluctuations across various sectors. While some technology giants face pressure, the automotive industry shows promising gains.📉 Semiconductor Struggles: Nvidia Leads the DeclineSemiconductors are seeing a harsh downturn today, notably with Nvidia (NVDA) plummeting by 3.14%. This decline reflects investor caution surrounding technology stocks and potential sector-specific challenges. Other semiconductor companies such as AMD (down 2.88%) are also feeling the squeeze, suggesting a broader sector pullback.🚗 Automotive Surge: Tesla Boosts Investor ConfidenceIn sharp contrast, Tesla (TSLA) is powering forward with…
The US Dollar (USD) is somewhat softer on the session as markets react to further upheaval in uncertainty in the Middle East, more signs from China’s politburo that it will step up efforts to bolster stimulus efforts and comments from President-elect Trump reiterating tariff and deportation plans once he takes office, Scotiabank’s Chief FX Strategist Shaun Osborne notes. DXY is flat, resisting the usual negative seasonal price trend “Ranges among the major currencies are relatively limited outside of the AUD and NZD which head the overnight performance league with gains of 0.9% and 0.6% respectively on China growth hopes. The…
A common misconception in any high-performance endeavor is that practice makes perfect. After all, the body usually learns to perform actions through repetition. That is, if you repeat a routine often enough, you will become proficient in it, and eventually your responses will become automatic. But repetition does not always guarantee proficiency. You could be doing the same (wrong) things over and over again and still (wrongly) expect better results. Even worse, you could be programming your mind and body to automate BAD habits and make them the foundation of your skills. Imagine a golfer using the wrong grip for…
Investing.com — Investors may be underestimating risks heading into 2025, describing the current sentiment as “too complacent,” BCA Research said in a Monday report. The investment research firm highlights that while financial markets are discounting only a negligible probability of recession, this overconfidence could lead to significant disappointments, even without an economic downturn. “History is arrayed against the bulls from a macro and market valuation perspective,” the report states. Equity markets are particularly vulnerable, with the trading at nearly 23 times forward earnings—levels nearly two standard deviations above its historical average. Tight corporate bond spreads further amplify the risks, as…
Fundamental OverviewGold continues to consolidate in a tight range as the markets await the US CPI report due on Wednesday. Overall, nothing has changed in terms of the fundamentals. The Fed is expected to cut by 25 bps next week and deliver at least two more rate cuts in 2025. In the bigger picture, the trend should remain bullish amid the Fed’s easing cycle, but the short-term corrections will likely be triggered by the repricing in rate cuts expectations. For now, the market looks fine with three rate cuts by the end of 2025 as the pricing remained unchanged despite…
Here is what you need to know on Monday, December 9: Financial markets stay relatively calm early Monday as investors refrain from taking large positions ahead of this week’s key events and data releases. Sentix Investor Confidence for December will be featured in the European economic docket and later in the day the US Census Bureau will publish Wholesale Inventories data for October. US Dollar PRICE Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD…