Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 5 August 2024 12:19 am

  Financial Markets’ Weekly Recap: Markets in Freefall Post-NFP Data

  

  A shocking jobs report sent shockwaves across financial assets on Friday, triggering concerns about an undesired looming recession and prompting a steep decline in both traditional and crypto assets. The US Bureau of Labour Statistics reported a worrisome increase in unemployment, along with a three-year high for temporary layoffs and …

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• 3 August 2024 2:33 am

  Following BoE Decision, GBP/USD Recovers on Dismal US Jobs Data

  

  The Pound Sterling managed to recoup some losses against the US Dollar on Friday, buoyed by a significantly weaker-than-expected US Nonfarm Payrolls (NFP) report. The data revealed a sharp slowdown in job growth, casting doubt on the resilience of the US economy and prompting a broad-based decline in the dollar.Despite …

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• 3 August 2024 1:16 am

  US Dollar Faces Pressure After Soft NFPs in July

  

  The US Dollar (USD) encountered significant selling pressure following the release of the July jobs report. The disappointing NFP figures triggered concerns about the health of the US economy and raised expectations of a rate cut by the Federal Reserve (Fed) in September. Let’s delve into the details:NFP Growth Falls …

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• 2 August 2024 11:48 pm

  Market Sentiment Shifts Amid Economic Data

  

  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 …

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• 2 August 2024 10:38 pm

  “Fed’s Goolsbee: If Inflation and Jobs Continue to decline, Fed Should Cut”

  

  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 …

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• 2 August 2024 8:04 pm

  Chevron’s Earnings Disappoint, Hess Deal Delayed

  

  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 …

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• 2 August 2024 6:58 pm

  NFP Data Has Sent Mixed Messages Across Key Assets

  

  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 …

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• 2 August 2024 6:16 pm

  Gold Capitalizes on Rate Cut Hopes, Middle East Tensions

  

  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. …

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• 2 August 2024 5:19 pm

  U.S. Job Growth Slows in July as Unemployment Rate Rises

  

  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 …

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• 2 August 2024 3:55 pm

  Amazon’s Q2 Earnings Beat Expectations, But Stock Drops on Soft Guidance

  

  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, …

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• 2 August 2024 2:38 pm

  U.S. Stock Index Futures Plunge Amid Weak Earnings and Economic Concerns

  

  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 …

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• 2 August 2024 12:53 pm

  Oil Prices Rise Amid Global Demand Concerns and Supply Disruption Fears

  

  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, …

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• 2 August 2024 11:51 am

  European Shares Fall Amid Global Risk-Off Sentiment and Mixed Corporate Updates

  

  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 …

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