Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2024

• 25 July 2024 7:02 pm

  ‘Sales plan’ pushes American Airlines to slash earnings forecast

  

  American Airlines has slashed its profit forecast for the year due to a backfired sales plan and an industry-wide glut of flights. The carrier’s profit fell 46% during the second quarter, even though revenues rose. The company expects to earn an adjusted 70 cents to $1.30 per share this year, …

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• 25 July 2024 2:48 pm

  Dollar Weakens Ahead of GDP Data, Yen Strengthens on BOJ Speculation

  

  The U.S. dollar continued to weaken on Thursday, with the Dollar Index, which measures the greenback against a basket of six other currencies, dropping 0.2% to 103.950 as of 05:25 ET (09:25 GMT). This decline extended the dollar’s losses from the previous session. Dollar Retreats Ahead of Key Economic Data …

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• 25 July 2024 12:09 pm

  Nissan Motor’s Q1 Profit Plummets and Annual Outlook Slashed

  

  Nissan Motor’s first-quarter financial results took a significant hit on Thursday, with nearly all of its profit wiped out due to aggressive discounting strategies in the United States. The company’s results fell well below analyst expectations, causing its shares to drop 7%. For the April-June period, Nissan reported an operating …

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• 25 July 2024 11:32 am

  Oil Prices Dip Amid Concerns Over China Demand and Middle East Ceasefire Prospects

  

  Oil prices edged lower on Thursday as concerns over weak demand in China, the world’s largest crude importer, and expectations of a possible ceasefire deal in the Middle East outweighed the previous session’s gains. The gains had been driven by larger-than-expected declines in U.S. crude inventories. Brent crude futures for …

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• 25 July 2024 3:37 am

  Market Drivers; US Session, July 24

  

  The USD Index (DXY) retreated slightly as the Japanese yen strengthened and US Treasury yields displayed mixed movement. The upcoming release of Q2 Growth Rate data, Durable Goods Orders, and Initial Jobless Claims on July 25 will be closely watched. Forex Space The Japanese yen’s continued appreciation pressured the US …

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• 25 July 2024 3:29 am

  Chinese, Australian Economic Woes Drag Australian Dollar Lower

  

  The Australian dollar went through additional losses against the US dollar on Wednesday, reaching 0.6580. Worsening concerns over China’s economic health and commodity prices were the primary contributors to the AUD’s slide. Australia reported weak Judo PMIs during the Asian session, which could potentially restrict any further weakening of the …

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• 25 July 2024 2:47 am

  What Recent Housing Data Reveal About the US Economy

  

  The US housing market is undergoing significant transformations, with implications for the broader economy. A decline in foreign buyer activity, coupled with persistent inventory shortages and price fluctuations, is shaping the market’s trajectory. This article delves into recent data to explore these trends and their potential impact on the US …

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• 25 July 2024 1:21 am

  US Stock Market Reels Following Disappointing Earnings

  

  Nasdaq has been taken by a storm. The tech-heavy Nasdaq Composite is going through a major direction change. On Wednesday, the Index saw its worst day since December 2022 as a perfect storm of worsening economic indicators and Megacap Tech companies’ disappointing reports sent shockwaves across the market. The Dow …

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• 24 July 2024 10:01 pm

  DXY retreats following the PMIs

  

  The US Dollar Index (DXY) fell towards 104.13, earlier during the North American session, immediately after the mixed PMI reading from Standard & Poor’s and the Federal Reserve’s dovish policy bets added to the US currency’s decline.It is expected that the reading of the personal consumption expenditures index, Durable Goods …

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• 24 July 2024 8:58 pm

  Eurozone Business activity halted on surprise German decline

  

  S&P Global composite PMI fell to 50.1 in July, attributed to the lack of growth of business activity in Germany and France. Eurozone business activity grinds to a halt amid surprise slump in Germany. Eurozone private-sector activity barely grew this month as its top economy Germany unexpectedly slumped, the latest …

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• 24 July 2024 7:13 pm

  After Rate Cut, BoC’s Macklem: Monetary Policy Still Restrictive

  

  In an effort to reduce price pressure and depress economic conditions, the Bank of Canada has lowered its benchmark interest rate for the second time in a row. Weakening economic circumstances and lessening pricing pressures led the central bank to decide to cut its policy rate by a quarter of …

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• 24 July 2024 1:19 pm

  Alphabet’s Q2 Results Beat Expectations, Driven by Strong Search and Cloud Performance

  

  Alphabet Inc. reported its second-quarter financial results on Tuesday, exceeding analyst expectations with notable strengths in its Search and Cloud divisions. The tech giant posted adjusted earnings per share (EPS) of $1.89, surpassing the consensus estimate of $1.83. Revenue for the quarter reached $84.74 billion, outpacing the average analyst projection …

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• 24 July 2024 12:02 pm

  Bitcoin Prices Dip Amid U.S. Political Uncertainty and Tepid Crypto Sentiment

  

  Bitcoin prices continued their downward trend on Wednesday, reflecting a broader week of losses. The decline is largely attributed to a weak risk appetite among traders, driven by growing uncertainty surrounding the U.S. political landscape. In the past 24 hours, Bitcoin fell by 1.7%, bringing its price down to $65,793.50 …

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