Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 29 July 2021 11:44 am

  Ford Raises its Forecast For 2021 After Posting Surprising Profits in The Second Quarter

  

  Ford Motor Company raised its earnings forecast for this year after it announced a windfall profit, saying it was selling more expensive cars. Its revenue slightly missed expectations due to an ongoing global shortage of semiconductor chips. Earnings per share were 13 cents, versus expectations of a loss of 3 …

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• 29 July 2021 11:20 am

  Russia’s Novatek’s Second-Quarter Profit More Than Doubles

  

  Novatek, Russia’s largest liquefied natural gas producer, said Wednesday, July 28, that its net profit more than doubled to 99.3 billion rubles ($1.35 billion), citing a recovery in oil and gas prices and production volumes. Revenue jumped 83.7% to 264.5 billion rubles.

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• 29 July 2021 10:30 am

  Facebook’s Quarterly Profit Beats Expectations And Posts Fastest Revenue Growth Since 2016

  

  Facebook’s earnings in the three months ended June 30 beat expectations and posted the fastest revenue growth since 2016. But Facebook shares fell 5% in after-hours trading after the social media company said it expects revenue growth to slow in the coming quarters. And earnings per share came to $3.61, …

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• 29 July 2021 6:04 am

  Senate Begins Process to Pass Infrastructure Bill and Could Approve Mega Budget Next Week

  

  The United States Senate voted on Wednesday on a large bipartisan infrastructure bill, at an estimated cost of around $550 billion in investments. A total of 67 Senators approved the bill, while 32 opposed, in the first procedural step to debate the proposed plan by President Joe Biden. Despite the …

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• 29 July 2021 5:27 am

  NYSE Closes Lower Following Fed Statement

  

  The New York Stock Exchange (NYSE) showed a mixed performance on Wednesday, after the Federal Reserve kept interest rates unchanged at a historically low level near 0%, vowing to continue to use its full range of tools to support the economy on the road to recovery from the coronavirus crisis. …

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• 29 July 2021 4:41 am

  Oil Finishes at Highest Level in Two Weeks After U.S. Inventories Draw

  

  Oil prices rose on Wednesday to their highest level in about two weeks, on the back of positive expectations following the drop in crude inventories in the United States. The inventories draw eased concerns over a slump in demand resulting from the spread of the coronavirus Delta variant. Brent crude …

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• 29 July 2021 3:52 am

  Gold Reverses its Losses Following Powell’s Press Conference

  

  Gold prices finished Wednesday down ahead of the U.S. Federal Reserve rate decision and moved lower after the release of the Fed’s policy statement amid a brief rise for the U.S. Dollar (USD). Taper talks had an immediate impact on the zero-yielding yellow metal, which remains relatively supported by inflation …

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• 29 July 2021 3:39 am

  How the USD Responded to the Fed Decision and Policy Statement

  

  The U.S. Dollar (USD) showed a fluctuating performance on Wednesday, with the markets focusing on the Federal Reserve policy decision and statement. The greenback began moving downwards in early trades in the American session, erasing most of its daily gains during the European session that also saw some fluctuations, but …

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• 29 July 2021 1:24 am

  Powell Stands his Ground After FOMC Statement Offers Clues on How Tapering Could Work

  

  The United States Federal Reserve announced on Wednesday that it has decided to maintain interest rates unchanged at a 0% to 0.25% range, pointing to positive recovery signs by the economy despite the risks and concerns due to the coronavirus pandemic. As the Federal Reserve Open Market Committee (FOMC) concluded …

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• 28 July 2021 10:08 pm

  Federal Reserve Maintains Interest Rates and Level of Asset Purchases

  

  The United States Federal Reserve announced on Wednesday that it has decided to maintain interest rates unchanged at a 0-0.25% range, and the current pace of asset purchases at $120 billion a month. The Fed will continue to increase its holdings of Treasury securities by $80 billion per month and …

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• 28 July 2021 9:54 pm

  European Stocks Finish at New Record High Ahead of Fed Statement

  

  European stocks finished higher on Wednesday, after declining for two days in a row, to hit a new record-high closing level, supported by positive earnings reports. The STOXX Europe 600 index added 0.66% to close at a record 461.70 points. The tech sector rebounded and led the gains, adding about …

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• 28 July 2021 9:28 pm

  USD Moving Downwards Ahead of Fed Statement

  

  The U.S. Dollar (USD) is on a downwards trend ahead of the release of the Federal Reserve policy statement, as the Federal Open Market Committee (FOMC) meeting concludes. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies remains in the positive territory but …

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• 28 July 2021 7:35 pm

  Oil Trading Higher After EIA Reports Drop in U.S. Inventories

  

  Oil prices rose on Wednesday after official data showed a decline in crude inventories in the United States last week. Crude inventories declined by 4.1 million barrels for the week ended July 23, according to the U.S. Energy Information Administration (EIA). Gasoline stockpiles fell by 2.3 million barrels and distillate …

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