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Best Buy Co. Inc. reported higher-than-expected net income in the first quarter and reaffirmed its full-year forecast, as gaming and services demand helped offset a drop in discretionary spending that has hit other retail competitors. The retailer known for high-priced products such as televisions and computers reported adjusted net earnings …

The CBI said sales balance decreased to -10 in May from +5 the previous month, falling short of consensus estimates of +10. “Retailers continue to face a challenging trading environment, with firms reporting disappointing sales and formidable inflationary pressures,” said CBI chief economist Martin Sartorius. As a result, they must …

As the first quarter earnings season proved to be stronger than expected, Bank of America analysts increased their forecast for what the S&P 500 may earn in 2023. The updated S&P 500 profits per share forecast is $215, up from $200 before, marking a 5% earnings beat in Q1. According …

European stock markets fell on Thursday as statistics revealed that Germany, the region’s largest economy, fell into recession in the first quarter of the year. At 03:15 ET (07:15 GMT), the DAX index in Germany was down 0.2%, the FTSE 100 in the United Kingdom was down 0.4%, and the …

Japan’s Nikkei index recovered its losses on Thursday after two straight sessions of decline, supported by chip-related companies, optimism about financial results and strong inflows from foreign investors. The Nikkei index rose 0.4 percent to close at 30,801.13 points. Earlier this week, the index touched 31,352.53, the highest level since …

Gold prices moved in a narrow range on Thursday as investors await further developments in the US debt ceiling negotiations, while the dollar’s rise kept prices in check. And by 0300 GMT, gold settled in immediate transactions at $ 1957.49 an ounce. And US gold futures fell 0.3 percent to …

Oil, Crude, trading

Due to conflicting negative signals, we adhered to intraday neutrality in the previous report, explaining that activating buying centres depends on breaching 1.3500 to target areas of 1.3570, surpassing the required target, and recording its highest level at 1.3613. Technically, and with a closer look at the 4-hour chart, the …

Oil, Crude, trading

Positive trading dominated the prices of US crude oil futures contracts yesterday, supported by the continuation of gaining bullish momentum that led prices to touch the first expected target at 74.50, recording the highest of $74.70 per barrel. Technically, the positive impact of the bullish technical structure during the previous …