The US dollar edged lower for most of Wednesday, but eventually received an unexpected boost from the US Federal Reserve’s Meeting Minutes. Fed policymakers noted that “In light of elevated inflation pressures and the strengthening labor market, participants judged that the increase in policy accommodation provided by the ongoing pace …
Read More »S&P 500 Passively Performing Ahead of Fed Minutes
The S&P 500 is a little lower but trading within recent ranges under 4800 ahead of the Fed minutes release. Growth continues to underperform value, meaning the Nasdaq 100 is performing poorly while the Dow is holding up better.US shares are mixed in the run-up to the release of the …
Read More »Japan’s Nikkei Closes Higher, With Shares of Sony and Toyota Rising
Japan’s Nikkei index closed slightly higher on Wednesday, as gains in blue-chip stocks such as Sony Group and Toyota Motor outweighed declines in technology heavyweights on fears of a faster-than-expected US interest rate hike. On Wednesday, the Nikkei index closed up 0.1 percent to 2,9332.16 points after falling more than …
Read More »Market Drivers – US Session – 4 January
Major currencies and other assets are still maneuvering to find their way amidst uncertainties imposed by the worldwide pandemic. The US dollar kept advancing on Tuesday, posting the most advance against the Japanese yen. USD/JPY pair jumped to 116.34, its highest since January 2017, as the dollar surged alongside US …
Read More »Tesla Stock Closer To Fresh Record On Earnings
Tesla stock traded above $1,200 a share early Tuesday, putting it close to its all-time high of $1,243.49. As the stock rises, it soared by double digits on Monday, expect more debate about how to value shares of the EV leader.Wall Street, for its part, appears to believe the stock …
Read More »Wall Street Surges, But Tempered By Dipping Tech Stocks
Stocks edged higher in morning trading on Wall Street Tuesday as traders gear up for economic reports and company earnings to resume after the year-end holidays.The S&P 500 rose 0.3% as of 10:20 a.m. Eastern. The Dow Jones Industrial Average rose 299 points, or 0.8%, to 36,883 and the tech-heavy …
Read More »Reading US ISM Data: Price Pressures Still Extraordinarily High
The biggest sequential drop in more than a decade for the prices paid component and shorter wait times for desperately needed supplies were the two primary drivers of the 2.4-point decline in the ISM manufacturing index to 58.7 in December “The drop in December’s ISM manufacturing index to 58.7 from …
Read More »ISM Data Shows US Manufacturing Activity Slowed in December
US manufacturing slowed in December amid some cooling in demand for goods, but supply constraints are starting to ease and a measure of prices paid for inputs by factories fell by the most since early 2020 when the pandemic disrupted economic activity.The Institute for Supply Management (ISM) said on Tuesday …
Read More »US Stock Index Futures Rise
US stock index futures rose in trading on Tuesday morning, in light of the market’s anticipation during the next few days, the start of the season of announcing the quarterly business results for companies for the last quarter of last year. It began with the rise in the futures prices …
Read More »Tourism And Banking Stocks Lift The European Index to a New Peak
European shares extended their rally on Tuesday, led by travel, banking, and commodity-related shares amid fresh indications that the mutated Omicron strain of coronavirus may be less severe than previously thought. The pan-European Stoxx 600 index rose 0.6 percent to 493.1 points, setting a new record, after the US Standard …
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