Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2024

• 31 May 2024 1:57 am

  PCE Preview: Will Fed’s Hawkish Stance Continue?

  

  Inflation is widely expected to record a slowdown in price growth in the United States, which could pave the way for the Federal Reserve to seriously consider cutting interest rates later this year.Meanwhile, US consumer income and spending readings may record signals that the US economy is not moving at …

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• 31 May 2024 12:46 am

  Dell stock falls 8% despite positive Q1 earnings, revenues

  

  Dell Technologies’ stock fell -8% in after-hours trading on Thursday, despite an all-around earnings beat in its first quarter. The company reported $22.24 billion in revenue and gains of $1.27 per share, beating analysts’ expectations by a large margin. Dell shares are up by over 120% year-to-date. The company’s earnings …

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• 31 May 2024 12:07 am

  Fed officials comment on inflation ahead of key PCE data

  

  Three monetary policymakers contributed their remarks and statements about the labour market, inflation and interest rate policy in the United States ahead of the PCE data that is expected on Friday.Federal Reserve Bank of Atlanta President Raphael Bostic noted on Thursday during an interview with Fox Business that the Atlanta …

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• 30 May 2024 9:39 pm

  Oil prices decline despite supply dip

  

  Crude Oil prices have fallen back despite a sharp decline in US crude oil supplies, with West Texas Intermediate crude oil trading at $77.51 per barrel. Investor concerns are growing that a reported extension in OPEC cuts will be enough to prop up barrel bids. OPEC and its extended network …

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• 30 May 2024 8:04 pm

  Gold recovers following US GDP data

  

  Gold is 0.26% up, trading at 2,343.18 per ounce at the time of writing. The precious metal‘s price has recovered after the US dollar weakens following the release of revised Q1 GDP data. The revised data suggests the US economy is not as strong as analysts had previously thought, potentially …

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• 30 May 2024 7:19 pm

  US inflation shows limited decline in Q1

  

  The personal consumption expenditures price index reading in the United States rose by 3.3% in the first quarter of 2024, versus a slightly larger rise of 3.4%, previous.The personal consumption expenditures index excluding food and energy prices in the United States recorded an increase of 3.6% in the first quarter …

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• 30 May 2024 4:34 pm

  U.S. Futures Weaken on Treasury Yields and Fed Uncertainty, Salesforce Dips After Earnings

  

  U.S. stock futures retreated on Thursday, signaling further losses after a prior session decline, as investors grappled with soaring Treasury yields and uncertainty surrounding the Federal Reserve’s potential interest rate cuts. By early morning trading, Dow futures dropped 0.9%, S&P 500 futures fell 0.5%, and Nasdaq 100 futures slipped 0.6%. …

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• 30 May 2024 2:58 pm

  European Stocks Stabilize as Bond Markets Rebound, Focus on Inflation Data

  

  European stock markets found some stability on Thursday as bond markets recovered from the previous day’s sell-off, which was driven by expectations of prolonged higher interest rates due to persistent inflation. The pan-European STOXX 600 index edged up nearly 0.2%, following a decline of over 1% on Wednesday. Germany’s DAX, …

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• 30 May 2024 1:38 pm

  Dollar Holds Firm After Reaching Two-Week High Amidst Rising Treasury Yields

  

  The U.S. dollar maintained its strength on Thursday, following a recent surge to a two-week high fueled by a rout in U.S. Treasuries, which pushed up yields and increased the currency’s attractiveness. The dollar index, which tracks the greenback against a basket of major currencies, reached 105.18 overnight, its highest …

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• 30 May 2024 12:55 pm

  European Stocks Retreat as Bond Yields Surge Ahead of Inflation Data

  

  European stock markets experienced a broad decline on Thursday, driven by rising global bond yields, which heightened investor concerns ahead of the eagerly anticipated inflation data release at the end of the week. Early in the trading session, Germany’s DAX index fell 0.3%, the UK’s FTSE 100 dropped 0.2%, while …

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• 30 May 2024 12:46 pm

  Oil Prices Ease on Stronger Dollar, Higher-for-Longer Rates Outlook

  

  Oil prices declined on Thursday as the stronger U.S. dollar and expectations of prolonged high interest rates raised concerns about potential demand reduction. Brent futures dropped 0.3% to $83.34 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.3% to $79.00. Both benchmarks are on track for monthly losses, …

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• 30 May 2024 12:22 pm

  Bitcoin Price Dips Amid Fed Rate Uncertainty, While Ether Cools After ETF Hype

  

  Bitcoin experienced a slight decline on Thursday, remaining within its established trading range as investors awaited crucial U.S. economic data that could influence the outlook for interest rates. While easing concerns about a potential sell-off by defunct exchange Mt Gox provided some relief, the strengthening dollar, driven by anticipation of …

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• 30 May 2024 5:18 am

  Market Drivers – US Session, May 29

  

  Amid multi-week highs in US yields, the USD Index (DXY) increased further and broke above the crucial 105.00 barrier. A further update to the Q1 GDP Growth Rate is scheduled for May 30, with weekly Initial Jobless Claims, Goods Trade Balance, and Pending Home Sales serving as backups. Bostic, Williams, …

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