Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 31 October 2024 12:40 pm

  Microsoft Forecasts AI Spending Surge Amid Slower Azure Growth

  

  Microsoft has announced expectations for increased spending on artificial intelligence (AI) in the current quarter but cautioned that growth in its Azure cloud business may slow down due to capacity constraints at its data centers. Shares of the Redmond, Washington-based company fell 3.6% in after-market trading, reversing earlier gains despite …

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• 31 October 2024 11:34 am

  Oil Prices Extend Gains Amid U.S. Demand Optimism and Potential OPEC+ Supply Delay

  

  Oil prices advanced on Thursday, driven by positive signs for U.S. fuel demand after an unexpected drop in crude and gasoline inventories, and potential delays in OPEC+ production increases. Brent crude climbed 0.65% to $73.02 per barrel, while West Texas Intermediate (WTI) rose 0.63% to $69.04 per barrel. The Energy …

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• 31 October 2024 2:40 am

  Market Drivers; US Session

  

  The US dollar’s Pause: A Temporary Respite?The US Dollar Index (DXY) has recently shown signs of fatigue, retreating from its recent highs. Despite encouraging economic data, including strong job growth, the US dollar’s relentless ascent appears to be pausing.Key Economic Events to Watch – United StatesPersonal Consumption Expenditure (PCE) Price …

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• 31 October 2024 1:40 am

  US Dollar Pauses Ahead of Key Data

  

  The US Dollar softened on Wednesday as mixed economic data emerged. While the ADP Employment Change report for September exceeded expectations, signaling robust job growth in the private sector, the downward revision to Q3 GDP growth tempered optimism. This conflicting data painted a nuanced picture of the US economy, leaving …

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• 31 October 2024 1:31 am

  Gold’s Meteoric Rise: A Safe-Haven Surge

  

  Gold, the timeless haven asset, has recently surged to unprecedented heights, reaching a record high of $2,790. This meteoric rise is a testament to its enduring appeal as a safe-haven asset during times of economic uncertainty and geopolitical turmoil.   Gold’s recent surge is a testament to its enduring appeal …

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• 30 October 2024 11:17 pm

  A Shifting Currency Landscape: Eurozone Strengthens, Dollar Weakens

  

  The foreign exchange market has been witnessing intriguing dynamics, primarily driven by the divergent economic trajectories of the Eurozone and the United States. The Euro has surged against the US Dollar, reflecting a confluence of factors that have propelled the Eurozone economy and dampened the appeal of the dollar.The recent …

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• 30 October 2024 10:00 pm

  US Dollar Weakens Following Key US Data

  

  The US Dollar weakened on Wednesday following the release of mixed economic data. While the ADP Employment Change report for September showed a stronger-than-expected increase in private sector payrolls, revising the previous month’s figure upward to 159,000 jobs, the downward revision to third-quarter GDP growth to 2.8% dampened investor sentiment. …

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• 30 October 2024 8:36 pm

  Is Bitcoin’s Bullish Momentum Continuing Toward Fresh All-time High?

  

  Bitcoin (BTC) has been on a remarkable upward trajectory, flirting with new all-time highs. On Tuesday, it reached a peak of $73,620, fueled by strong institutional demand, particularly from US spot Bitcoin ETFs. These ETFs saw a significant inflow of $827 million, the third-largest single-day inflow since their launch.Analysts believe …

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• 30 October 2024 8:27 pm

  AI-Fueled Growth: Meta’s Q3 Earnings and Future Outlook

  

  Meta Platforms (META) delivered a strong third-quarter performance, surpassing analyst expectations and fueled by the increasing adoption of artificial intelligence (AI). The company’s revenue surged to $40.59 billion, driven by a robust 18.6% increase in advertising revenue. This growth can be attributed to the successful integration of AI into Meta’s …

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• 30 October 2024 7:15 pm

  Canadian Dollar Holds Steady Amidst Mixed US Economic Data

  

  The Canadian Dollar (CAD) maintained a relatively neutral stance against the US Dollar (USD) on Wednesday, as mixed economic data from the United States created a tug-of-war in the currency markets. While the USD initially gained ground due to a stronger-than-expected ADP Employment Change report, it subsequently faced downward pressure …

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• 30 October 2024 4:34 pm

  October Private Payrolls Beat Expectations Amid Hurricane and Strike Concerns

  

  In October, U.S. private payroll growth exceeded forecasts, adding 233,000 jobs, as reported by the ADP National Employment Report. This growth followed an upwardly revised increase of 159,000 in September, well above the 114,000 jobs economists had anticipated. The ADP report, created with Stanford’s Digital Economy Lab, precedes Friday’s comprehensive …

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• 30 October 2024 3:26 pm

  U.S. Futures Rise as Alphabet Leads Tech Surge Amid Mixed Market Moves

  

  U.S. stock index futures inched higher Wednesday, buoyed by a notable increase in Alphabet shares following the company’s robust earnings report. As of 06:25 ET (10:25 GMT), Dow Jones Futures were up by 50 points, or 0.1%, S&P 500 Futures climbed 15 points, or 0.3%, and Nasdaq 100 Futures added …

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• 30 October 2024 12:54 pm

  Alphabet Q3 Earnings Surpass Expectations with Strong Ad Revenue and Cloud Growth

  

  Alphabet Inc. reported robust third-quarter earnings that exceeded Wall Street forecasts, as the tech giant’s core advertising revenue grew significantly, allaying concerns over potential threats from AI-driven competitors. Following the report, Alphabet’s stock surged over 5% in premarket trading on Wednesday. For Q3, Alphabet recorded earnings of $2.12 per share, …

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