Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2024

• 9 February 2024 5:44 am

  Market Drivers – US Session, February 8

  

  Amid persistent rumours on a Fed interest rate cut in May, growing geopolitical concerns, and some comments implying that the ECB is not in a haste to start reducing rates, shifting trends in risk appetite ruled the mood across traded assets.In the midst of further repricing of an interest rate …

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• 9 February 2024 2:57 am

  Additional $10 increase in crude oil prices expected by May

  

  Crude oil futures rose sharply after Israel rejected a ceasefire offer in Gaza, reinforcing concerns of a wider Middle East conflict. The recent bombing of Rafah by Israeli forces in Gaza has also boosted crude prices. Geopolitical tensions, particularly between the US and Iran, have been a key source of …

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• 9 February 2024 1:50 am

  Gold pressured by US dollar’s gains

  

  Gold futures have declined since the opening of Thursday’s North American trading session due to the rise in the US dollar and renewed geopolitical concerns about the possibility of the war in Gaza expanding to other areas within the Middle East. The US dollar achieved limited gains due to Israeli …

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• 9 February 2024 12:14 am

  S&P 500 briefly hits 5,000 for the first time

  

  The S&P 500 briefly topped the 5,000 milestone for the first time ever, with the broad-based index finishing slightly higher at 4,997.91. The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71. Strong earnings and a …

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• 8 February 2024 11:19 pm

  US dollar steadily rose on positive Jobless Claims

  

  The US dollar rose on Thursday, initially to 103.45 and then stabilizing at 104.15, following positive Initial Jobless Claims data. However, bulls are running out of steam due to a lack of fresh drivers and Fed speakers refusing to give additional guidance on the bank’s next steps concerning future rate …

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• 8 February 2024 10:17 pm

  Could CPI revisions dampen optimism about inflation?

  

  The Federal Reserve looks in no hurry to cut interest rate very soon. Last year’s revisions to the consumer price index (CPI) raised doubts on inflation progress, prompting Fed officials to seek more evidence before committing to interest-rate cuts. The Bureau of Labor Statistics regularly adjusts monthly CPI data to …

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• 8 February 2024 8:42 pm

  EUR/GBP finds fresh modest gains despite dovish ECB

  

  The EUR/GBP pair had a 0.10% increase on Thursday and is currently trading at 0.8540. The GBP will eventually gain from the ECB and BoE’s different monetary policies.The markets are pointing to an April rate cut from the ECB and a June rate cut from the BoE. The EUR/GBP pair …

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• 8 February 2024 7:28 pm

  BoE’s Mann: Near-term decelerating inflation won’t continue

  

  Bank of England policymaker Catherine Mann, who voted in favor of a rate hike in the last policy meeting, said on Thursday that she is not convinced that the near-term declaration in headline inflation will continue.Mann noted that she is worried that a Red Sea price shock could be incorporated …

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• 8 February 2024 3:53 pm

  European Stocks Start Stable Amid Varied Performances

  

  European stocks opened trading on Thursday with a mixed performance, marked by losses in shipping giant Maersk and AstraZeneca Pharmaceuticals, contrasted by the strong showing of basic consumer goods stocks such as Unilever. Market Overview The European STOXX 600 index settled at 485.55 points by 0827 GMT, reflecting a stable …

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• 8 February 2024 1:01 pm

  Oil Prices Rally Amidst Geopolitical Tensions and Strong US Demand

  

  Oil prices surged on Thursday following Israel’s rejection of a ceasefire proposal from Hamas, heightening geopolitical tensions in the Middle East. Concurrently, robust demand for fuel in the United States contributed to the market’s upward trajectory this week. Market Performance and Price Movement As of 01:32 GMT, Brent crude futures …

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• 8 February 2024 12:35 pm

  Maersk Reports Q4 Profits Below Expectations, Anticipates Lower Earnings for 2024

  

  Maersk, a global leader in container shipping, unveiled fourth-quarter profits that fell short of expectations on Thursday, projecting significantly lower earnings for 2024 amidst an oversupply of container vessels and ongoing uncertainties surrounding disruptions in the Red Sea. Fourth-Quarter Performance and Earnings Outlook Maersk reported a notable decline in underlying …

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• 8 February 2024 12:15 pm

  Disney Surpasses Expectations with Strong Earnings, Announces Dividend Increase

  

  Disney (DIS) delivered robust fiscal first-quarter earnings on Wednesday, outperforming analyst expectations and announcing a significant boost in its cash dividend. The company’s streaming losses narrowed, further buoying investor confidence. Earnings Beat and Fiscal Outlook Adjusted earnings per share stood at $1.22, surpassing analyst estimates of $0.99, as polled by …

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• 8 February 2024 11:48 am

  Societe Generale Reports Q4 Performance Exceeding Analyst Expectations

  

  Societe Generale, the French banking giant, disclosed a notable decline in fourth-quarter net income on Thursday, yet managed to surpass analyst forecasts due to signs of recovery in its domestic retail business and stable trading revenue from its investment bank. Financial Highlights: Beat Analyst Estimates Despite Profit Dip Group net …

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