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Market Analysis

April, 2024

  • 25 April 2024 12:22 am

    US Stocks decline following Q1 earnings of Meta, IBM

    US stock futures fell on Wednesday night after Meta Platforms reported its latest quarterly results, while traders also awaited the release of key economic data later this week. Futures tied to the Dow Jones fell 76 points or 0.2%, while S&P 500 futures slid 0.6% and Nasdaq 100 futures dropped …

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  • 24 April 2024 11:03 pm

    GDP Preview: US Economy Likely Expanded at a Solid Pace

    The awaited GDP data from the US is predicted by the Dow Jones consensus prediction to demonstrate that the economy grew steadily in the first three months of the year, with an annualized growth rate of 2.4% for Q1. This is slightly less than the 2.5% full-year growth rate from …

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  • 24 April 2024 9:22 pm

    Tesla shares jump 10% after announcing launch of affordable EVs

    Tesla shares jumped over 10% at the market open on Wednesday after the company said it would accelerate the launch of more affordable vehicles, countering reports earlier this month the company would scrap these plans.“We have updated our future vehicle line-up to accelerate the launch of new models ahead of …

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  • 24 April 2024 8:00 pm

    US Dollar Recovers on Upbeat Durable Goods Orders

    The US dollar showed some degree of recovery following the emergence of a positive batch of US data that highlighted an improvement in orders for durable goods in the United States, which came one day after a negative batch that indicated a deterioration in general economic activity, which raised new …

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  • 24 April 2024 3:50 pm

    Oil rises after an unexpected drop in US crude inventories

    Oil prices saw an uptick in early trading on Wednesday, extending gains from the previous session following industry data showing an unexpected decrease in US crude inventories last week. This decline suggested increased demand and shifted attention away from tensions in the Middle East. Brent crude futures edged up by …

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  • 24 April 2024 3:02 pm

    European stocks are stable amid mixed business results

    In early trading on Wednesday, European stocks showed little change, with gains in the technology sector offsetting losses in the banking sector. Investors were evaluating the impact of monetary tightening on companies’ performance and financial results. The European STOXX 600 index edged up by 0.1 percent by 0720 GMT, hovering …

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  • 24 April 2024 2:40 pm

    Dollar is recovering and yen is approaching the 155 level against the dollar

    The dollar showed signs of recovery on Wednesday after facing significant losses against the euro and pound the day before, while the yen remained near its lowest level in 34 years, despite intensified warnings from Japanese officials about potential intervention to support the currency. The dollar index, which gauges the …

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  • 24 April 2024 3:26 am

    Market Drivers, US Session, April 23

    Improved risk appetite on Tuesday impacted the US dollar, which is -0.44% down, at the 105.68 mark, while the weaker than expected US PMIs kept the American currency under pressure.The ECB is expected to cut rates in June, while the Fed is still seen reducing its rates in September, with …

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  • 24 April 2024 3:14 am

    US stocks secure gains amid risk-on mood

    US stocks secured gains on Tuesday as investors prepared for a fresh batch of earnings reports, most notably Tesla. Nasdaq Composite led the trading day, surging about 1.6%. The benchmark S&P 500 rose about 1.2% after staging a comeback from a six-day run of losses on Monday. The Dow Jones …

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  • 24 April 2024 2:04 am

    WTI back over $83 amid further volatility

    Tuesday sees a tug in both directions for crude oil. Recent rate cut hopes are sparked by the US PMIs. Equities that are associated with risk are boosted as markets welcome the slowing US economy that could mean looming interest rate cuts. Tuesday’s start for West Texas Intermediate crude oil …

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  • 24 April 2024 1:50 am

    Treasury yields retreat following downbeat data

    Tuesday saw a decline in US Treasury yields as investors anticipated news later this week that would provide more details about the status of the economy. The S&P Global Flash U.S. manufacturing PMI dropped from 51.9 in March to 49.9, a four-month low. A reading less than 50 signifies a …

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  • 23 April 2024 11:45 pm

    Is US preparing for sanctions against China over support of Russian war?

    The United States is preparing to impose fresh sanctions on a few Chinese institutions in an effort to stop Beijing from funding and supporting Russia’s war in Ukraine. The proposed sanctions coincide with this week’s scheduled visit to China by US Secretary of State Antony Blinken. Regarding Beijing’s facilitation of …

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  • 23 April 2024 10:55 pm

    Spotify announces Q1 earnings following a year of significant layoffs, activist attention

    Spotify reported a record Q1 earnings and beat estimates on the top and bottom lines after a year of deep cost cutting and streamlining. The company’s earnings per share were 97 euro cents ($1.04), revenue was 3.64 billion euros, and monthly active users (MAUs) were 615 million compared to 618 …

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