Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2022

• 3 August 2022 7:02 pm

  ISM Services PMI rises to 56.7 in July above 53.5 expected

  

  The business activity in the US service sector expanded at a more robust pace in July than in June with the ISM Services PMI rising to 56.7 from 55.3. This reading came in better than the market expectation of 53.5.Further details of the publication revealed that the Prices Paid Index …

  Read More »
• 3 August 2022 5:46 pm

  Reuters: OPEC+ agrees to raise September output by 100K bpd

  

  Citing a source familiar with the matter, Reuters reported on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and allies, collectively known as OPEC+, have agreed to raise the oil output by 100,000 barrels per day in September. In a statement published following its meeting, OPEC said that …

  Read More »
• 3 August 2022 5:30 pm

  What you need to know about China-Taiwan tensions

  

  US House Speaker Nancy Pelosi landed in Taiwan Tuesday evening, marking a significant show of support for Taiwan despite China’s threats of retaliation over the visit. Pelosi’s stop in Taipei is the first time a US House speaker has visited Taiwan in 25 years. Her trip comes at a low …

  Read More »
• 3 August 2022 4:01 pm

  Germany accuses Russia of delaying gas deliveries

  

  German Chancellor Olaf Schultz said on Wednesday that the Nord Stream 1 gas pipeline turbine is working fine, requires no repairs and can be used at any time, blaming Russia for delays in gas supplies to the European Union. During his visit to Siemens Energy, which was accused by the …

  Read More »
• 3 August 2022 2:58 pm

  OPEC+ meets amid oil production struggles

  

  The OPEC+ meets today, Wednesday, amid market expectations of a steady or slight increase in oil production, as most of its members are already pumping near their maximum production capacities and cannot meet US calls for increased production to fight the rising prices. U.S. and Western sanctions against Russia have …

  Read More »
• 3 August 2022 2:19 pm

  OPEC Secretary-General: The recovery in demand continues, but it may be at a slower pace

  

  The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, told Algerian television ahead of the OPEC+ meeting on Wednesday that the recovery in oil demand is continuing. Still, it may be at a slower pace than at the beginning of the year and last year. Al-Ghais …

  Read More »
• 3 August 2022 1:28 pm

  Eurozone Retail Sales plunge 3.7% YoY in June vs. -1.7% expected

  

  Eurozone’s Retail Sales fell by 1.2% MoM in June versus 0.0% expected and 0.4% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales came in at -3.7% in June versus 0.4% recorded in May and -1.7% estimated. Separately, Eurozone’s Producer Price …

  Read More »
• 3 August 2022 12:59 pm

  European shares fall before the release of important economic data

  

  European shares fell in early trading on Wednesday, ahead of key business growth data, as broader markets awaited the potential fallout from US House Speaker Nancy Pelosi’s visit to Taiwan. The pan-European Stoxx 600 index was down 0.2 percent by 7:10 GMT. Investors are awaiting important data on business and …

  Read More »
• 3 August 2022 12:16 pm

  Nikkei rises as investors look for strong results

  

  Japan’s Nikkei index closed higher on Wednesday, recovering from the previous session’s losses, as investors turned to Daikin Industries and other companies that posted solid gains. The Nikkei index rose 0.53 percent to 27,741.90 points, falling 1.42 percent on Tuesday, its biggest daily loss in three weeks. The broader Topix …

  Read More »
• 3 August 2022 11:45 am

  Starbucks earnings beat Wall Street estimates

  

  Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China Here’s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Here’s what the company reported for the quarter ended July 3 …

  Read More »
• 3 August 2022 3:09 am

  Market Drivers – US Session – Tuesday, August 2

  

  Risk-aversion came back benefitting the US dollar that is widely considered as a safe haven. US-Sino tensions arose on the arrival of US House Speaker Nancy Pelosi to Taiwan. Pelosi supports the local government against China’s will.Crude oil prices, on the other hand, recovered some ground and the barrel of …

  Read More »
• 3 August 2022 2:13 am

  Robinhood cutting 23% of jobs, releases Q2 earnings

  

  Robinhood will reduce its headcount by approximately 23%. The American financial services company, headquartered in California, also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody. Robinhood CEO Vlad Tenev said, on Tuesday, “deterioration of the macro environment, with …

  Read More »
• 3 August 2022 1:01 am

  Starbucks surpasses earnings, revenue estimates

  

  Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance.Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion. The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in …

  Read More »