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Although Apple’s quarterly sales were 4% lower than they were a year ago, the corporation nevertheless managed to beat estimates for both revenue and earnings per share. Because Apple its scale and the fact that it is a significant user of semiconductors, screens, and other components, the maker of the …
Read More »Market Analysis
May, 2024
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2 May 2024 11:26 pm
Investors’ appetite for Tech rises ahead of Apple’s earnings
Awaiting Apple’s earnings, scheduled after the bell, investors’ enthusiasm for technology equities grew. Following a turbulent Wednesday, US market indexes were rising as Jerome Powell, the chair of the Federal Reserve, gave investors some comfort from their growing concern of an interest rate hike. He did, however, also say that …
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2 May 2024 10:05 pm
Bitcoin recovers after crypto washout, Fed decision
After losses during the past trading session, Bitcoin is making an attempt to recover. After plunging over 6% on Wednesday and having its worst monthly performance in April since late 2022, it has bounced back from the lows set on Wednesday, currently trading at $590,111 as of this writing. The …
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2 May 2024 9:14 pm
Binance founder faces prison sentence on money-laundering violation
Changpeng Zhao, the founder of Binance exchange, has been sentenced to four months in prison, a lighter penalty than other crypto executives have faced since the industry’s collapse in 2022. Zhao pleaded guilty last year to a money-laundering violation, acknowledging that his company allowed terrorist groups and other criminals to …
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2 May 2024 8:36 pm
US dollar still pressured despite jobless claims figures, less hawkish Fed
The US Dollar Index, or DXY, was trading slightly higher at 105.80 earlier on Thursday. Despite cautious words made by Fed Chair Jerome Powell regarding inflation and its unclear future trajectory, the dollar saw a brief upward momentum. Weekly Jobless Claims data appear to be helping the dollar, which is …
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2 May 2024 6:59 pm
What Can Initial Jobless Claims Tell About US Economy?
The number of Americans filing new unemployment benefits remained low last week, indicating a tight labour market that should continue to support the economy in the second quarter. However, economists dismissed data from the Labour Department showing growth in worker productivity almost stalled in Q1, arguing that the trend in …
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2 May 2024 3:41 pm
Oil Prices Rebound Following Seven-Week Low Close
Oil prices rebounded on Thursday after three consecutive days of losses that brought prices to their lowest levels since mid-March. Brent crude futures for July rose by 79 cents, or 0.95%, to reach $84.23 a barrel by 0959 GMT. Meanwhile, U.S. West Texas Intermediate (WTI) crude for June climbed by …
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2 May 2024 2:34 pm
Futures Rise as Fed Eases Concerns Over Rate Hikes
U.S. stock index futures advanced on Thursday following the Federal Reserve’s decision to keep interest rates unchanged, easing concerns about potential rate hikes and shifting attention to a wave of earnings updates scheduled throughout the day. Federal Reserve Chair Jerome Powell indicated that despite persistently high inflation, the anticipated U.S. …
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2 May 2024 12:50 pm
European Shares Slip at Market Open Amid Earnings Tide and Fed Decision
European shares started on a subdued note on Thursday as investors resumed trading after a mid-week holiday to analyze a flurry of significant earnings reports and the Federal Reserve’s indication of a delay in interest rate cuts. The pan-European STOXX 600 edged down by 0.2% as of 0715 GMT, following …
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2 May 2024 12:38 pm
Eurozone Factory Activity Deteriorates in April, Reveals PMI Data
In April, the persistent downturn in euro zone manufacturing activity intensified due to weakening demand, despite factories slashing prices. This compelled businesses to further trim their workforce, according to a survey released on Thursday. The final euro zone Manufacturing Purchasing Managers’ Index (PMI) by HCOB, compiled by S&P Global, dropped …
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2 May 2024 11:58 am
Maersk raises full-year profit guidance after strong quarter
Shipping giant Maersk raised its annual profit forecast after reporting stronger-than-expected quarterly earnings on Thursday, attributing the performance to robust container shipping demand and strategic vessel diversions around Africa to bypass the Red Sea. The Copenhagen-based company, considered a bellwether for global trade, noted that ocean container shipping demand growth …
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2 May 2024 11:21 am
Yen Falls Following Rapid Surge, Attributed to Authorities’ Intervention
On Thursday, the yen depreciated against the dollar, reversing its trajectory following a sudden surge on Wednesday night, which market participants and analysts promptly linked to intervention by Japanese authorities. The yen declined by 0.80 percent to 155.73 against the dollar by 0537 GMT, retracing nearly half of its ascent …
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2 May 2024 10:15 am
Oil Prices Surge Amid Potential Replenishment of US Strategic Reserve
Oil prices climbed on Thursday as the United States is anticipated to initiate crude purchases to replenish its reserves, following a slump to a seven-week low. This comes alongside optimism for a ceasefire in the Gaza Strip, increasing American stockpiles, and uncertainty regarding a potential interest rate cut by the …
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