Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2022

• 28 July 2022 9:17 pm

  US equities retreat following Fed-inspired surge

  

  The stock market was slipping Thursday following its recent Fed-inspired surge after news headlines said that the US economy shrank for two successive quarter as any two consecutive quarters of declines in growth traditionally constitute a recessionThe Dow Jones Industrial Average was down 121.60 points, or 0.38%, at 32,075.99, the …

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• 28 July 2022 8:54 pm

  Chinese President opposes Taiwan independence, interference of external forces

  

  Chinese President Xi Jinping told US President Joe Biden on Thursday that they firmly oppose Taiwan’s independence and the interference of external forces, Chinese state media reported.“Those who play with fire will only get burnt,” Xi told his American counterpart during the phone call, as per Reuters. “Hope the US …

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• 28 July 2022 8:34 pm

  Biden: ‘No surprise, economy slowing down’ as economy enters technical recession

  

  The United States enters technical recession as economy shrank 0.9% in Q2 following two successive quarters of negative GDP growth. President Biden reacted to Thursday’s GDP report, saying it is “no surprise that the economy is slowing down” amid inflation, despite saying earlier this week that the US would not …

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• 28 July 2022 8:23 pm

  When does a real recession begin?

  

  This question normally weighs on consumers, politicians and investors around the world every time the US central bank decides interest rate hikes. Is the US economy in a recession? The reasonable answer, so far, is: “maybe”, in other words; it is “A Mix of Yes and No”. For many people, …

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• 28 July 2022 7:29 pm

  Gold surges to conquer $1750 on US Q2 GDP reading

  

  Gold price advances more than 1%, recording back-to-back gains for the first time since July 21-22. The US Q2 GDP, on its preliminary reading, contracted, meaning the US is technically in a recession.The US economic calendar on Friday will update the Fed’s favorite inflation gauge, alongside the UoM Consumer Sentiment.Gold …

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• 28 July 2022 7:01 pm

  OPEC+ expected to keep output steady or slightly raise in September

  

  Citing eight sources familiar with the matter, Reuters reported on Thursday that the Organization of the Petroleum Exporting Countries (OPEC) and allies, collectively known as OPEC+, were planning to leave the oil output unchanged for September.Sources also acknowledged that a modest output increase could be discussed amid calls from the …

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• 28 July 2022 5:55 pm

  US: Weekly Initial Jobless Claims decline to 256K

  

  There were 256,000 initial jobless claims in the week ending July 23, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 261,000 and came in worse than the market expectation of 253,000. Further details of the publication …

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• 28 July 2022 4:45 pm

  US economy contracts at an annualized rate of 0.9% in Q2

  

  The US economy contracted at an annualized rate of 0.9% in the second quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday. This reading came in much worse than the market expectation for an expansion of 0.5%. “The decrease in real GDP reflected decreases in private …

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• 28 July 2022 2:55 pm

  Gold rises to its highest level in 3 weeks as Dollar declines

  

  Gold prices rose to a 3-week high on Thursday, July 28, after Federal Reserve Chairman Jerome Powell suggested the US central bank may slow the pace of interest rate hikes in the coming months, affecting the dollar and US Treasury yields. Spot gold rose 0.7% to $1,745.20 an ounce, its …

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• 28 July 2022 2:05 pm

  Moody’s Earnings, Revenue Miss in Q2

  

  Moody’s reported on second-quarter earnings that missed analysts’ forecasts and revenue that fell short of expectations. Moody’s announced earnings per share of $2.22 on revenue of $1.38B. Moody’s shares are down 5% from the beginning of the year, still down 28.77% from its 52-week high of $407.94 set on November …

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• 28 July 2022 1:21 pm

  statements of FED support European stocks

  

  European shares rose to a seven-week high on Thursday as some concerns about the pace of the Federal Reserve’s rate hike dissipated while strong business results for companies, including Shell, supported buying. And the Federal Reserve (the US central bank) raised the interest rate by 75 basis points, as expected, …

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• 28 July 2022 11:27 am

  Dollar hits a 3-week low against yen

  The dollar fell to a three-week low against the yen on Thursday after US Federal Reserve Chairman Jerome Powell calmed investor concerns about continued monetary tightening. The dollar fell to 135.105 yen to the dollar, its lowest since July 6, after the US central bank raised the key interest rate …

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• 28 July 2022 11:00 am

  Oil extends gains as risk appetite improves, US inventories fall

  

  Oil rose more than a dollar a barrel on Thursday, extending gains from the previous session, supported by improved risk appetite among investors, while prices were supported by a decline in US crude inventories and a recovery in gasoline demand in the United States. Brent crude futures for September delivery …

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