Author: FX

Teva Pharmaceutical (NYSE:TEVA) shares rose for seven straight sessions, as the stock closed about 1% higher at $22.42 on Tuesday. The Israeli drugmaker stock added 34.5% in the preceding six sessions. The stock has more than doubled so far this year, climbing nearly 115%, dwarfing Source link

PU Prime, a leading global fintech company in trading and investment services, is excited to announce a new Christmas promotion, bringing holiday cheer to traders with an exclusive opportunity to win seasonal rewards. This special event offers traders exciting ways to win holiday rewards, including Deposit Vouchers, Trade Loss Vouchers, Credit Bonus Vouchers, and more. Not only that, but PU Prime also prepared a $3,000 cash prize pool and a $2,500 Amazon gift card prize pool waiting to be won. Running from 1 – 31 December 2024, this limited-time promotion provides participants with multiple chances to spin a festive wheel,…

Is the Aussie ready to extend its losses against the Loonie? Or will buyers step in around these major inflection points? Check out these key levels we’re watching on the 4-hour time frame: AUD/CAD 4-hour Forex Chart by TradingView AUD/CAD seems to be picking up bearish momentum as it breaks below a tight consolidation range between 0.8960 and 0.9000, following through on its strong downtrend since October 2024. The Aussie-Loonie pair has been consistently forming lower highs and lower lows within a descending channel, with the latest break suggesting that sellers might be gearing up for another push lower. Remember…

S&P 500 dailyThe shortened US equity market session on Christmas Eve is often a formality but Santa Claus delivered this year. The 0.7% rally yesterday in the S&P 500 was followed with 0.8% today and the post-Fed rout has now been largely erased.S&P 500 +1.1%Nasdaq Comp +1.4% (led by +6% for TSLA)Russell 2000 +0.8%DJIA +0.9%Toronto TSX Comp +0.3%US and Canadian markets are both completely closed on Christmas. The US market will re-open on Boxing Day while Canadian markets remain closed until December 27. The ‘Santa Claus rally’ period is traditionally after Christmas and before new years, so we have that…

Ale02/iStock via Getty Images Despite record avocado sales in 2024 and their significant boost to FQ4 results, Limoneira (NASDAQ:LMNR) shares are under pressure Tuesday as the company’s warning about FY25 avocado production rattles investor confidence. The company predicts production to be adversely impacted by Source link

Gold remains steady near $2,610 as the US Dollar continues to strengthen. Fed signals fewer rate cuts next year, reducing upward pressure on Gold. XAU/USD faces downward pressure as it tests 100-day SMA support. The Gold price remains relatively steady around the $2,611 mark, as market participants adjust to a more cautious outlook on US interest rates. The broader backdrop shows the US Dollar retaining its strength, supported by expectations that the Federal Reserve will adopt a slower pace of rate cuts in the coming year. Fed officials have indicated that fewer rate cuts are likely than previously anticipated, with…

By Medha Singh and David French (Reuters) -Wall Street’s main indexes advanced on Tuesday, as gains in a handful of megacap and growth stocks bolstered benchmarks in a truncated trading session before Christmas. With megacap stocks having outsized influence on markets, their performance is often a key driver of indexes. When coupled with reduced trading volumes and few other catalysts, as many investors take time off for the holidays, this is even more pronounced. All the so-called Magnificent Seven megacap stocks climbed on Tuesday, led by the 5.1% advance by Tesla (NASDAQ:). The automaker’s rise helped push the Consumer Discretionary…

The GBP/USD pair has seen a modest rise to 1.2550, as low trading volume characterizes the market this week due to the upcoming Christmas holidays. The pair has been consolidating, with minimal price action as the market adjusts to a quiet holiday period. Similarly, the US Dollar Index (DXY) is largely flat, hovering above 108.00, showing no significant changes as traders await further economic data. Read More… The Pound Sterling (GBP) advances against its major peers on Tuesday. The British currency gains as investors largely ignore a mild increase in Bank of England’s (BoE) dovish bets for the next year. Traders see a 53-basis points (bps) interest…

The Atlanta Fed GDPNow growth estimate for Q4 growth comes in unchanged at 3.1%.In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 3.1 percent on December 24, unchanged from December 20 after rounding. After both the advance durable manufacturing report and the new home sales release from the US Census Bureau, the nowcast of fourth-quarter real gross private domestic investment growth increased from 1.2 percent to 1.3 percent.The next GDPNow update is Thursday, January 2. Please see the “Release Dates” tab below for a list of upcoming…

Manufacturing Activity: Remained in contractionary territory; composite index rose to -10 in December (from -14 in November). Est. -10Component Indexes:Shipments: -11 vs -12 last monthEmployment: -8 vs -10 last monthNew Orders: Improved to -11 vs -19 last monthLocal Business Conditions: Index improved to 0 (from -14); future local business conditions increased to 40 (from 31).Future Expectations: Future indexes for shipments and new orders moved further into positive territory, signaling expected improvements in the next six months. Six-month forward Shipments 41 versus 33Six-month forward new orders 43 versus 37 last monthVendor Lead Time: Index increased to 11 (from 4).Backlogs: Fewer firms…