Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2021

• 4 August 2021 5:18 pm

  General Motors Posts Lower-Than-Expected Profit in Q2 2021

  

  General Motors made a profit less than Wall Street’s second-quarter earnings expectations despite posting solid profits and raising year-on-year guidance. GM’s second-quarter profit fell by about $1.3 billion due to warranty recovery costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle was recalled twice in the …

  Read More »
• 4 August 2021 4:38 pm

  US Private Sector Employment Rises by 330K in July

  

  Employment in the US’ private sector increased by 330,000 in July, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed June’s increase of 680,000 and missed the market expectation of 695,000 by a wide margin.

  Read More »
• 4 August 2021 3:11 pm

  Eurozone Retail Sales Rise 5.0% YoY in June

  

  Eurozone’s Retail Sales rose by 1.5% MoM in June versus 1.7% expected and 4.1% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales increased by 5.0% in June versus 8.6% booked in May and 4.5% estimated.

  Read More »
• 4 August 2021 2:47 pm

  Aramco: Saudi Arabia Will Raise Crude Prices to Asia in September

  

  Saudi Aramco said on Wednesday that the kingdom, the world’s largest crude exporter, raised the official selling price of Arab Light crude to Asia in September to $3 a barrel above the average price of Oman and Dubai crudes. Aramco set the official selling price for its Arab Light crude …

  Read More »
• 4 August 2021 2:15 pm

  Currencies Overview: Employment Pushes The New Zealand Dollar Higher, And Its US Counterpart Awaits Jobs Data

  The US dollar settled near its recent lows on Wednesday, August 4th as investors awaited US jobs data as an indicator of interest rate expectations, while the New Zealand dollar rose with the country’s unemployment rate falling and expectations that interest rates will start to rise within weeks. The spotlight …

  Read More »
• 4 August 2021 1:04 pm

  China Seeks Policy Mix to Boost Economic Resilience

  

  China has been contemplating a policy mix comprising diversified monetary tools, fiscal support to the economy within an appropriate range, per Xinhua News Agency. “The proactive fiscal policy should generate a greater effect, while the prudent monetary policy should maintain reasonably ample liquidity and support the continued recovery of small …

  Read More »
• 4 August 2021 12:12 pm

  US Crude Falls For The Third Day in a Row

  

  US crude prices fell for the third day in a row on Wednesday, August 4, while there was little change in Brent crude futures contracts, with growing fears that the increasing spread of the delta strain of the Coronavirus in major consuming countries would reduce demand for fuel. US West …

  Read More »
• 4 August 2021 11:32 am

  Gold Rises on Weak Dollar Ahead of US Jobs Data

  

  Gold prices rose on Wednesday, August 4th, supported by the weak dollar, but the rise in precious metal prices remained in a narrow range, as investors awaited indications from the US jobs data regarding the recovery of the labor market. Spot gold rose 0.2% to $1,813.31 an ounce, while US …

  Read More »
• 4 August 2021 10:43 am

  U.S Gas Futures Records The Best Daily Performance in Nearly Two Weeks

  

  US natural gas futures rose, recording their largest one-day gain in nearly two weeks, with expectations of hotter weather conditions continuing over the coming weeks, which tends to increase demand for air cooling. Gas contracts rose to the nearest maturity by 2.3% to settle at $ 4.027 per million British …

  Read More »
• 4 August 2021 4:56 am

  Robinhood Surges After Start Slow on Wall Street

  

  The stock of Robinhood, the U.S.-based financial services company that pioneered commission-free trading and became famous on the back of meme trading, is witnessing a strong beginning days after its debut on Wall Street. The initial public offering of Robinhood was completed on Thursday, and the company’s stock was listed …

  Read More »
• 4 August 2021 4:23 am

  U.S. Oil Stocks Down 879K Barrels in Week – API

  

  Crude oil inventories in the United States fell by 879,000 barrels last week, according to estimates by the American Petroleum Institute (API) released late Tuesday. Meanwhile, the stockpiles of gasoline and distillates declined by 5.8 million and 717,000 barrels, respectively. Official inventory data by the Energy Information Administration (EIA) is …

  Read More »
• 4 August 2021 4:15 am

  Wall Street Rebounds and S&P 500 Logs New Record High

  

  The New York Stock Exchange (NYSE) closed higher on Tuesday, recovering from yesterday’s losses after struggling for direction earlier in the session, due to pressures on the tech sector. However, Wall Street investors showed more focus towards earnings reports, with an improved sentiment driving the S&P index to a new …

  Read More »
• 4 August 2021 1:44 am

  Oil Closes Lower for Second Straight Day

  

  Increasing concerns about the resurgence of the coronavirus pandemic with an increased number of new infections with the Delta variant led oil prices to a second consecutive daily loss on Tuesday. Pandemic-related concerns are leading to mixed expectations about demand recovery as the economic rebound from the coronavirus crisis remains …

  Read More »