Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 1 May 2023 3:52 pm

  Dow futures largely flat; First Republic is taken over

  

  Investors are absorbing the buyout of First Republic Bank at the start of a week that contains additional corporate results, a Federal Reserve policy meeting, and the eagerly anticipated monthly employment report. The Dow futures contract was up barely 3 points at 10:45 GMT, the S&P 500 futures were mostly …

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• 1 May 2023 3:20 pm

  UK inflation expectations ease as BoE considers next rate hike

  

  Inflation expectations in the United Kingdom fell in April, according to Citi, providing some respite to the Bank of England, which is anticipated to announce its 12th consecutive interest rate hike next week, with investors banking on additional hikes after that. Citi said its monthly poll, conducted by market research …

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• 1 May 2023 1:22 pm

  The dollar is edging upward, with all eyes on Fed

  

  The US dollar rose in early holiday-affected European trade Monday, kicking off a week that features policy-setting meetings from the Federal Reserve and the European Central Bank, as well as the monthly US employment report. The dollar index, which measures the value of the US currency against a basket of …

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• 1 May 2023 12:21 pm

  Japan’s Nikkei crosses 29,000 with yen falling

  

  The Japanese Nikkei index rose to its highest level in more than eight months on Monday, surpassing the key level of 29 thousand points, after the Bank of Japan continued its easy monetary policy that pushed the yen to its lowest level in nearly two months. The railways and airlines …

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• 1 May 2023 11:07 am

  Gold fell amid the rise of the dollar and anticipation of the US Central Bank meeting

  

  Gold prices fell on Monday, weighed down by a stronger dollar, as investors cautiously await the Federal Reserve’s decision to raise interest rates later this week. By 0531 GMT, spot gold fell 0.5 percent to $1980.42 an ounce, and US gold futures fell 0.5 percent to $1989.10. The dollar index …

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• 1 May 2023 10:09 am

  Oil prices dip on U.S. rate hike expectations, weak China PMI

  

  Oil prices dipped on Monday as investors worried about the possibility of the Federal Reserve raising interest rates, which would impede growth and reduce gasoline demand, and concerns over lower Chinese manufacturing data combined to wipe out previous gains. Brent futures for July delivery were down 61 cents, or 0.8%, …

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• 1 May 2023 9:28 am

  Sony shares tumble on weaker-than-expected annual outlook

  

  Sony Group Corp’s shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate’s annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by a robust performance at its music and …

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• 1 May 2023 3:23 am

  Financial Markets’ Weekly Recap, April 24-28

  

  The euro fell on Friday after economic data painted a mixed picture on growth and inflation in the euro-zone, adding to uncertainty about the percentage by which the European Central Bank is expected to raise interest rates next week. Preliminary data showed gross domestic product in the euro zone grew …

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April, 2023

• 29 April 2023 2:22 am

  Market Drivers – US Session 28/04/2023

  

  A two-day rally on Wall Street began on Friday as a result of larger-than-expected results from the tech sector. Amid renewed worries about First Republic Bank and the gloomy outlook for global growth, the optimistic mood may, however, not last long. The incoming economic data will be eagerly watched, but …

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• 29 April 2023 2:08 am

  Oil price rallies ahead of the weekend

  

  As traders bet on a rebound following the most recent pullback, WTI oil was able to settle back above the $76 mark. The price of WTI crude oil has increased by +2.70% to $76.78. At $80.14, Brent crude has increased by +2.45%. As news of a lightning strike at the …

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• 28 April 2023 10:34 pm

  Dow records best gains since January following key earnings

  

  On Friday, Dow Jones rallied as it gets closer to record its best month since January. Blue-chip index prices rose by 187 points, or 0.6%. S&P 500 gains were similarly 0.6%. The latest round of technology earnings weighed on investors’ mood, resulting in somewhat moderate gains for the Nasdaq Composite, …

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• 28 April 2023 9:09 pm

  Gold steadies around $1990s following US data

  

  Gold price makes minor gains as stickier inflation prompts the Federal Reserve to tighten. Gold price registers minimal gains, as traders brace for the weekend, gains 0.16%% after data from the United States (US) showed that inflation remains at high levels, justifying the need for further tightening by the US …

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• 28 April 2023 7:36 pm

  What can Friday’s PCE data tell about US economy?

  

  The Personal Consumption Expenditures Price Index declined to 4.2% on a yearly basis in March from 5.1% in February, according to the US Bureau of Economic Analysis. The annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, edged lower to 4.6% from 4.7% in the same period, …

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