Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2024

• 2 August 2024 10:38 pm

  “Fed’s Goolsbee: If Inflation and Jobs Continue to decline, Fed Should Cut”

  

  Austan Goolsbee, President of the Federal Reserve Bank of Chicago, emphasized that the Fed should avoid reacting hastily to isolated data points. Despite US Nonfarm Payrolls falling below expectations, Goolsbee acknowledged significant progress in both inflation and jobs data over recent months.Key Quotes: The labour market is showing signs of …

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• 2 August 2024 8:04 pm

  Chevron’s Earnings Disappoint, Hess Deal Delayed

  

  Chevron Corporation reported a significant decline in second-quarter earnings on Friday, sending its shares down by 3%. The oil giant also revealed that its planned $53 billion acquisition of Hess Corporation is likely to be postponed until mid-2025, if not entirely blocked. This news follows recent statements suggesting a potential …

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• 2 August 2024 6:58 pm

  NFP Data Has Sent Mixed Messages Across Key Assets

  

  Latest NFP data has sent mixed messages to investors, resulting in significant movements across global financial markets, particularly affecting the US dollar, oil, and gold.In July, the Non-Farm Payrolls report showed an increase of 114,000 jobs in the United States, significantly lower than the previous reading of 179,000 jobs and …

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• 2 August 2024 6:16 pm

  Gold Capitalizes on Rate Cut Hopes, Middle East Tensions

  

  Gold futures exceeded the 2500 mark and are trading at 2,514.00 per ounce at the time of writing; up +1.34%. The price of Gold rose to just under $2,470 per ounce this morning, approaching the record high of mid-July, boosted by comments made by Fed Chairman Powell on Wednesday evening. …

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• 2 August 2024 5:19 pm

  U.S. Job Growth Slows in July as Unemployment Rate Rises

  

  U.S. job growth slowed more than expected in July, while the unemployment rate increased to 4.3%, heightening concerns that the labor market is deteriorating and potentially making the economy vulnerable to a recession. Employment Report Highlights Nonfarm Payrolls: Increased by 114,000 jobs in July, following a downwardly revised increase of …

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• 2 August 2024 3:55 pm

  Amazon’s Q2 Earnings Beat Expectations, But Stock Drops on Soft Guidance

  

  Amazon (NASDAQ:AMZN) reported second-quarter earnings that exceeded analyst expectations, yet its stock fell more than 8% in Friday’s premarket trade due to softer-than-anticipated guidance for the third quarter. Key Financial Highlights Adjusted Earnings per Share (EPS): Amazon posted an adjusted EPS of $1.26 for the quarter ended June 30, 2024, …

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• 2 August 2024 2:38 pm

  U.S. Stock Index Futures Plunge Amid Weak Earnings and Economic Concerns

  

  U.S. stock index futures fell sharply on Friday, continuing a trend of recent weakness spurred by disappointing earnings from major tech companies and mounting concerns over slowing economic growth. Market Performance Dow Jones Futures: Fell 380 points, or 0.9%, by 06:30 ET (10:30 GMT).S&P 500 Futures: Dropped 59 points, or …

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• 2 August 2024 12:53 pm

  Oil Prices Rise Amid Global Demand Concerns and Supply Disruption Fears

  

  Oil prices saw an uptick on Friday, but the market is set to record its fourth consecutive weekly decline. Despite the recent rise, signs of disappointing global fuel demand growth have overshadowed fears of supply disruptions, leading to a bearish outlook. Current Market Performance Brent Crude Futures: Up 55 cents, …

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• 2 August 2024 11:51 am

  European Shares Fall Amid Global Risk-Off Sentiment and Mixed Corporate Updates

  

  European shares fell over 1% on Friday, aligning with a global risk-off sentiment as investors digested a range of mixed corporate updates to gauge overall market direction. Market Performance The pan-European STOXX 600 index dropped 1.6% to a three-month low by 0718 GMT. Despite the sharp decline, the index is …

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• 2 August 2024 11:19 am

  Bitcoin Faces Steep Weekly Loss Amid Broader Market Rout

  

  Bitcoin prices experienced a slight decline on Friday and are poised for a significant weekly loss, reflecting broader market fears over slowing economic growth, which have adversely impacted crypto prices. Market Concerns and Influences The drop in Bitcoin’s value was influenced by several factors. One of the main concerns among …

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• 2 August 2024 10:19 am

  Gold Prices Surge Amid Market Turmoil and Safe Haven Demand

  

  Gold prices climbed in Asian trading on Friday, approaching record highs as concerns over an economic slowdown spurred investors to seek safe haven assets. This trend was supported by a combination of interest rate speculation, geopolitical tensions, and weak economic data. Safe Haven Buying and Interest Rate Speculation The surge …

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• 2 August 2024 7:32 am

  Apple Q3: Beating Fueled by Service Boom

  

  Apple defied analyst expectations in its third-quarter earnings report, exceeding targets for both earnings per share and revenue. However, the win came with a caveat: a decline in iPhone sales, a key revenue driver.China Challenge PersistsWall Street’s focus was on Apple’s performance in China, a crucial market. While the company …

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• 2 August 2024 3:06 am

  Market Drivers; US Session, August 1

  

  The US dollar emerged as a clear safe-haven asset, rallying significantly amidst a broader risk-off environment. The greenback’s strength was exacerbated by a cautious monetary policy stance adopted by the Bank of England, which opted for a 25 basis point rate cut while expressing concerns about the potential for further …

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