Market Update

Recent economic indicators have precipitated a sharp downturn in the stock market, signaling a potential shift in investor sentiment. A series of weaker-than-expected data points, culminating in July’s employment report, has triggered a market sell-off. The S&P 500 and Nasdaq Composite have experienced significant declines, with the latter entering correction …

Austan Goolsbee, President of the Federal Reserve Bank of Chicago, emphasized that the Fed should avoid reacting hastily to isolated data points. Despite US Nonfarm Payrolls falling below expectations, Goolsbee acknowledged significant progress in both inflation and jobs data over recent months.Key Quotes: The labour market is showing signs of …

Chevron Corporation reported a significant decline in second-quarter earnings on Friday, sending its shares down by 3%. The oil giant also revealed that its planned $53 billion acquisition of Hess Corporation is likely to be postponed until mid-2025, if not entirely blocked. This news follows recent statements suggesting a potential …

Latest NFP data has sent mixed messages to investors, resulting in significant movements across global financial markets, particularly affecting the US dollar, oil, and gold.In July, the Non-Farm Payrolls report showed an increase of 114,000 jobs in the United States, significantly lower than the previous reading of 179,000 jobs and …

Gold futures exceeded the 2500 mark and are trading at 2,514.00 per ounce at the time of writing; up +1.34%. The price of Gold rose to just under $2,470 per ounce this morning, approaching the record high of mid-July, boosted by comments made by Fed Chairman Powell on Wednesday evening. …

U.S. job growth slowed more than expected in July, while the unemployment rate increased to 4.3%, heightening concerns that the labor market is deteriorating and potentially making the economy vulnerable to a recession. Employment Report Highlights Nonfarm Payrolls: Increased by 114,000 jobs in July, following a downwardly revised increase of …

Amazon (NASDAQ:AMZN) reported second-quarter earnings that exceeded analyst expectations, yet its stock fell more than 8% in Friday’s premarket trade due to softer-than-anticipated guidance for the third quarter. Key Financial Highlights Adjusted Earnings per Share (EPS): Amazon posted an adjusted EPS of $1.26 for the quarter ended June 30, 2024, …

U.S. stock index futures fell sharply on Friday, continuing a trend of recent weakness spurred by disappointing earnings from major tech companies and mounting concerns over slowing economic growth. Market Performance Dow Jones Futures: Fell 380 points, or 0.9%, by 06:30 ET (10:30 GMT).S&P 500 Futures: Dropped 59 points, or …

Oil prices saw an uptick on Friday, but the market is set to record its fourth consecutive weekly decline. Despite the recent rise, signs of disappointing global fuel demand growth have overshadowed fears of supply disruptions, leading to a bearish outlook. Current Market Performance Brent Crude Futures: Up 55 cents, …

European shares fell over 1% on Friday, aligning with a global risk-off sentiment as investors digested a range of mixed corporate updates to gauge overall market direction. Market Performance The pan-European STOXX 600 index dropped 1.6% to a three-month low by 0718 GMT. Despite the sharp decline, the index is …