Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 31 January 2024 1:44 pm

  European Stocks Extend Gains, Awaiting US Federal Reserve Decision

  

  European stocks continued their upward trajectory on Wednesday, marking the sixth consecutive session of gains. The financial sector played a pivotal role in supporting the positive momentum as traders eagerly awaited the US Federal Reserve’s monetary policy decision later in the day. Market Performance: As of 0822 GMT, the European …

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• 31 January 2024 1:13 pm

  Japan’s Nikkei closed higher recorded its best performance since 1998

  

  Japan’s Nikkei index has concluded January 2024 with its most robust performance since 1998, showcasing resilience in the face of early declines led by chip company stocks. Overcoming initial setbacks, the index rebounded, securing its place as the best-performing market globally for the month. Market Recovery and Impressive Gains:The Nikkei …

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• 31 January 2024 12:46 pm

  Alphabet achieves revenue below expectations in Q4

  

  Alphabet Inc, the parent company of Google, found itself on the wrong side of investor expectations as holiday ad sales fell short, leading to a six percent drop in its shares during after-hours trading. The company also disclosed plans for increased spending on components like servers running artificial intelligence (AI), …

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• 31 January 2024 12:40 pm

  Geopolitical Tensions: A Comprehensive Overview of Current Oil Market Dynamics

  

  In the dynamic landscape of global oil markets, recent developments have sent ripples through the industry, influencing price movements and creating an environment of uncertainty. This article delves into the various factors impacting oil prices, ranging from geopolitical tensions in the Middle East to economic indicators that shape the market …

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• 31 January 2024 2:29 am

  Market Drivers – US Session, January 30

  

  WTI crude oil was 1.35% higher, trading at $77.82 per barrel following a sharp correction decrease on Monday. The price of crude oil rebounded, bolstered as always by enduring geopolitical concerns in the Middle East and the Red Sea conflict.The week began well for gold prices, which briefly tested the …

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• 31 January 2024 1:13 am

  Ten major banks downplay likelihood of imminent policy change by FOMC

  

  Expectations have been published as projected by analysts and researchers of ten big banks ahead of the US central bank’s interest rate decision announcement on Wednesday, January 31 at 19:00 GMT. Since the Fed is projected to maintain interest rates in the range of 5.25%–5.50% for the fourth consecutive meeting, …

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• 31 January 2024 12:19 am

  No policy change expected as FOMC goes on with soft landing plan

  

  Since the Fed is projected to maintain interest rates in the range of 5.25%–5.50% for the fourth consecutive meeting, no policy changes are anticipated. The news conference by Chair Jerome Powell will be crucial. Investor attention will be focused on any possible rebuttal to market conjecture about rate reductions. Financial …

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• 30 January 2024 11:06 pm

  Dow stocks decline amid economic data ahead of FOMC decision

  

  US stocks showed mixed performance on Tuesday, with the Dow Jones Industrial Average reversing higher in midday trades as investors awaited a slew of Big Tech earnings and a Fed rate decision. Financial stocks, including JPMorgan Chase, Visa, American Express, and Goldman Sachs, lifted the index. The S&P 500 also …

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• 30 January 2024 10:30 pm

  Why are surging job openings in December important?

  

  According to recently released labour data, the US employment market is still robust and there is a continued need for workers. Seasonally adjusted Bureau of Labour Statistics data released on Tuesday shows that the number of open positions in the US increased unexpectedly to an estimated 9.026 million in December.The …

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• 30 January 2024 9:15 pm

  Tech stocks push world’s largest sovereign wealth to record $213 billion profit

  

  Norges Bank Investment Management, the national wealth fund of Norway, posted a record profit of 2.22 trillion kroner ($213 billion) in 2023, mostly by virtue of the excellent returns on its investments in technology shares.One of the biggest investors in the world, the Government Pension Fund Global, stated that the …

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• 30 January 2024 8:17 pm

  EUR/GBP surges following Eurozone GDP data

  

  On Tuesday, the EUR/GBP pair rose by 0.50% to hit 0.8565. The Q4 GDP numbers for the Eurozone exceeded expectations, but the daily chart clearly shows bearish weariness. As monetary policy differences with the European Central Bank have pushed the cross lower in the previous sessions, the Bank of England’s …

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• 30 January 2024 7:14 pm

  ECB’s Makhlouf: We should remain open-minded about rate path

  

  ECB policymaker Gabriel Makhlouf said on Tuesday that the essence of data-dependency suggests that they should remain open-minded about the interest rate path, per Reuters.“With disinflation well underway, we are confident in sustainably reaching our target of 2%,” Makhlouf added. These comments didn’t have any immediate or noticeable impact on …

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• 30 January 2024 3:36 pm

  $73 million fine to HSBC Bank due to “serious shortcomings” in protecting deposits

  

  HSBC Bank has been slapped with a substantial fine of £57.4 million ($73 million) for what the Bank of England’s Prudential Regulation Authority deems as “serious failures” in safeguarding certain depositors over an extended period. This penalty marks the first of its kind under British laws designed to protect customers …

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