Market Update

The S&P 500 retreated and the main US indexes are expected to record monthly losses on Tuesday as Treasury yields surged while investors are focused on bets concerning upcoming interest rate decision which is seen high for longer. Bank of America Global Research warned the Fed could even hike interest …

Rivian shares will be in focus after the bell as the electric adventure vehicle maker will report its Q4 financial results. The company’s new annual production target and its projected loss for 2023 are expected to be of particular interest for investorsFrom a deliveries standpoint, the company already reported that …

The US Consumer-confidence index drops to 102.9 in February. High inflation and rising interest rates are making Americans more worried about a possible recession. The reading is the outcome of a survey of consumer confidence that fell to a three-month low of 102.9 in February, signaling worries about the future …

After gloomy economic data from Canada, the USD/CAD pair headed forward toward the 1.3600 mark, while the US dollar registers some losses. Market sentiment shifted sour as US equities opened in the red territory. At the time of writing, the USD/CAD pair is trading at 1.3601 versus the previous closing …

A Reuters survey showed on Tuesday, February 28, that OPEC’s oil production rose this month by about 150,000 barrels per day, compared to January levels. According to the survey, oil production within OPEC recorded levels of 28.97 million barrels per day, supported by the recovery of oil supplies in Nigeria …

Data on Tuesday showed that inflation in two of the euro zone’s largest economies rose unexpectedly this month, adding to expectations of a rate hike by the European Central Bank and refuting the view that prices are now rapidly easing. The European Central Bank plans to raise its main interest …

Target delivered better-than-expected earnings for the fourth quarter but warned about a slowdown as consumers continue to focus on necessities. Shares are still trading about 5% higher in pre-market Tuesday. Target posted of $1.89 on revenue of $31.4 billion, beating the average analyst estimate for earnings of $1.40 per share on …

China’s state media quoted officials as saying on Tuesday that the foundation of the country’s economic recovery has not yet reached strength and that various unforeseen factors may occur at any time. The New China News Agency (Xinhua) quoted the statement of the Central Committee of the Communist Party of …

Gold prices fell on Tuesday, heading towards their largest monthly loss since June 2021, with the decline in the attractiveness of the non-yielding metal, in light of expectations that the Federal Reserve will raise interest rates soon. Spot gold fell 0.3 percent to $1,811.74 an ounce by 0735 GMT, after …

Japan’s Nikkei index gave up most of its early gains to close slightly higher on Tuesday, as investors sold strong-performing stocks to bargain hunters amid the absence of a clear catalyst. The Nikkei ended the day’s trading, up 0.08 percent, at 27,445.56 points, after rising 0.6 percent. The broader Topix …