Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 26 October 2023 3:30 am

  IBM’s profits, revenues beat expectations

  

  IBM’s adjusted earnings for the third quarter of 2023 rose to $2.20 per share, versus expectations issued by the “Street Account” market research firm, which indicated $2.13 per share.The company’s revenues rose in the same period to $14.75 billion, compared to expectations which indicated $14.73 billion.The markets’ direct reaction to …

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• 26 October 2023 2:41 am

  Heineken records profits despite a decline in sales

  

  Heineken beer company’s sales declined in the third quarter of 2023 after completing exit procedures from its investments in Russia, as the Dutch company’s sales recorded a decline of 4.2% in this period.It is likely that the main reason behind the decline in sales could be the slowdown in the …

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• 26 October 2023 1:35 am

  Market Drivers – US Session, October 25

  

  The US Dollar Index rose for the second consecutive day, rising above 106.50, the highest level since last Friday. The dollar received a boost from higher Treasury yields and deteriorating market sentiment following the latest round of earnings results. The Dow Jones dropped 0.32%, and the Nasdaq lost 2.43%. The …

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• 26 October 2023 1:22 am

  Gold hits weekly high despite rising US bond yields

  

  With a gain of over 0.56%, the price of gold has risen to a new weekly high of $1987.25. This is because US business activity is starting to pick up steam, as shown by September’s record-breaking new home sales and the S&P Global PMIs.The US 10-year Treasury bond yield has …

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• 26 October 2023 12:29 am

  Mike Johnson elected as US House Speaker

  

  Following weeks of party infighting that left the House in disarray, Rep. Mike Johnson won the speakership on Wednesday without losing any GOP votes. The lawmaker from Louisiana has been an outspoken advocate for the late President Donald Trump and played a significant role in the congressional effort to rig …

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• 25 October 2023 11:56 pm

  US dollar extends gains on the back of rising T-yields

  

  The US Dollar extended last US session’s gains, but the upward momentum is seen as weak. The US reported positive housing market data, and the 5- and 10-year US Treasury yields recovered, while the shorter-term 2-year rate declined. The Dollar Index climbed higher on Wednesday, rising towards a six-day high …

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• 25 October 2023 11:20 pm

  Meta crushes earnings expectations in Q3

  

  Meta, the parent company of Facebook, achieved profits and revenues that exceeded market expectations on Wednesday, according to a financial performance report issued for the third quarter of the current.The company achieved profits of $4.39 per share, which exceeded market expectations, which indicated $3.63 per share. The company’s revenues also …

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• 25 October 2023 10:41 pm

  WTI leaps hits $85 amid tighter geopolitical tensions

  

  As the Middle East conflict heats up again, WTI Crude Oil is back up the daily charts. Requests for a cease-fire so that civilians could receive humanitarian aid were turned down.EIA barrel counts increased more than anticipated, and as geopolitical concerns accelerate, demand concerns will affect the price of crude …

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• 25 October 2023 9:33 pm

  GBP/USD pressured on weak UK data, risk-off

  

  Amidst growing geopolitical tensions in the Middle East, risk aversion remains the driving force behind the financial markets. The GBP/USD pair hit a three-day low of 1.2113, with sellers aiming for the next support level at 1.2100. The US economy is doing well, according to economic data; in September, new …

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• 25 October 2023 8:29 pm

  Has Bill Ackman become new bond king?

  

  Bill Ackman has just been crowned as the new king of the bond market as the US national debt and deficit reach historic highs. Ed Yardeni, an economist who spent decades on Wall Street at firms like Deutsche Bank, believes that bond guards are once again out in force, with …

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• 25 October 2023 7:25 pm

  BoC’s Macklem: Could certainly be two or three quarters of small negative growth

  

  Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the October policy meeting and responds to questions from the press.Key Quotes“Could certainly be two or three quarters of small negative growth.”“Not predicting a deep recession with a …

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• 25 October 2023 4:11 pm

  ECB Preview: Forecasts from major banks

  

  The European Central Bank (ECB) is scheduled to announce its monetary policy decision on Thursday, October 26, at 12:15 GMT. As the release time approaches, economists and researchers from major banks have shared their expectations. The ECB is widely anticipated to maintain its current interest rates unchanged. This expectation comes …

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• 25 October 2023 3:04 pm

  Alphabet exceeds market expectations, reporting profits

  

  Alphabet, Google’s parent company (GOOG, GOOGL), released its third-quarter earnings report after the market closed on Tuesday. The company outperformed analysts’ predictions regarding revenue and earnings per share; however, a disappointing performance from Google’s cloud business led to a decline in the company’s stock during pre-market trading. In the third …

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