Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2024

• 24 April 2024 9:22 pm

  Tesla shares jump 10% after announcing launch of affordable EVs

  

  Tesla shares jumped over 10% at the market open on Wednesday after the company said it would accelerate the launch of more affordable vehicles, countering reports earlier this month the company would scrap these plans.“We have updated our future vehicle line-up to accelerate the launch of new models ahead of …

  Read More »
• 24 April 2024 8:00 pm

  US Dollar Recovers on Upbeat Durable Goods Orders

  

  The US dollar showed some degree of recovery following the emergence of a positive batch of US data that highlighted an improvement in orders for durable goods in the United States, which came one day after a negative batch that indicated a deterioration in general economic activity, which raised new …

  Read More »
• 24 April 2024 3:50 pm

  Oil rises after an unexpected drop in US crude inventories

  

  Oil prices saw an uptick in early trading on Wednesday, extending gains from the previous session following industry data showing an unexpected decrease in US crude inventories last week. This decline suggested increased demand and shifted attention away from tensions in the Middle East. Brent crude futures edged up by …

  Read More »
• 24 April 2024 3:02 pm

  European stocks are stable amid mixed business results

  

  In early trading on Wednesday, European stocks showed little change, with gains in the technology sector offsetting losses in the banking sector. Investors were evaluating the impact of monetary tightening on companies’ performance and financial results. The European STOXX 600 index edged up by 0.1 percent by 0720 GMT, hovering …

  Read More »
• 24 April 2024 2:40 pm

  Dollar is recovering and yen is approaching the 155 level against the dollar

  

  The dollar showed signs of recovery on Wednesday after facing significant losses against the euro and pound the day before, while the yen remained near its lowest level in 34 years, despite intensified warnings from Japanese officials about potential intervention to support the currency. The dollar index, which gauges the …

  Read More »
• 24 April 2024 3:26 am

  Market Drivers, US Session, April 23

  

  Improved risk appetite on Tuesday impacted the US dollar, which is -0.44% down, at the 105.68 mark, while the weaker than expected US PMIs kept the American currency under pressure.The ECB is expected to cut rates in June, while the Fed is still seen reducing its rates in September, with …

  Read More »
• 24 April 2024 3:14 am

  US stocks secure gains amid risk-on mood

  

  US stocks secured gains on Tuesday as investors prepared for a fresh batch of earnings reports, most notably Tesla. Nasdaq Composite led the trading day, surging about 1.6%. The benchmark S&P 500 rose about 1.2% after staging a comeback from a six-day run of losses on Monday. The Dow Jones …

  Read More »
• 24 April 2024 2:04 am

  WTI back over $83 amid further volatility

  

  Tuesday sees a tug in both directions for crude oil. Recent rate cut hopes are sparked by the US PMIs. Equities that are associated with risk are boosted as markets welcome the slowing US economy that could mean looming interest rate cuts. Tuesday’s start for West Texas Intermediate crude oil …

  Read More »
• 24 April 2024 1:50 am

  Treasury yields retreat following downbeat data

  

  Tuesday saw a decline in US Treasury yields as investors anticipated news later this week that would provide more details about the status of the economy. The S&P Global Flash U.S. manufacturing PMI dropped from 51.9 in March to 49.9, a four-month low. A reading less than 50 signifies a …

  Read More »
• 23 April 2024 11:45 pm

  Is US preparing for sanctions against China over support of Russian war?

  

  The United States is preparing to impose fresh sanctions on a few Chinese institutions in an effort to stop Beijing from funding and supporting Russia’s war in Ukraine. The proposed sanctions coincide with this week’s scheduled visit to China by US Secretary of State Antony Blinken. Regarding Beijing’s facilitation of …

  Read More »
• 23 April 2024 10:55 pm

  Spotify announces Q1 earnings following a year of significant layoffs, activist attention

  

  Spotify reported a record Q1 earnings and beat estimates on the top and bottom lines after a year of deep cost cutting and streamlining. The company’s earnings per share were 97 euro cents ($1.04), revenue was 3.64 billion euros, and monthly active users (MAUs) were 615 million compared to 618 …

  Read More »
• 23 April 2024 9:41 pm

  Canadian Dollar recovers following US PMIs

  

  The Canadian dollar has recovered following softer US Purchasing Managers Index figures, which have boosted market hopes that the US domestic economy will soften enough to prompt the Federal Reserve to consider rate cuts. Canada’s latest Retail Sales figures are due on Wednesday, while the broader market focus will be …

  Read More »
• 23 April 2024 8:15 pm

  Strong UK PMIs, BoE Pill’s Hawkishness Boost Sterling

  

  The Pound Sterling rebounds from 1.2300 on robust increase in UK Services preliminary PMI for April. The UK preliminary Services PMI data surprisingly jumped to 54.9 from 53.1Two BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. The Pound Sterling (GBP) bounces back from …

  Read More »