French left and right wing parties have both pledged to bring down Michel Barnier's government and Reuters reports that the vote is likely Wednesday.The move comes after Barnier and Macron tried to use constitutional amendments to push through a budget.If the...
Bitcoin falls to the lows of the day, breaks $95,000 to the downside
There is a divergence unfolding with the Nasdaq up 1% but bitcoin now at the lows of the day, down nearly 3%.Bitcoin had showed some strength early in US trading but couldn't crack $97,500 and sellers have now taken over in a relatively quick drop to $94,500, which is...
Here are the top priorities of Republicans in the upcoming term
Republicans have a small House majority at 220-215 so it will be tough to get a consensus on everything and that majority will shrink further with some set to join Trump's White House. In the Senate, they can only afford to lose 3 votes as well and there are some...
Oil gives back gains, turns negative
Oil started the week strongly and was up $1.20 early in US trading.It's since given it all back and is now down $0.10 to $67.86. This would be the fifth consecutive day of declines for oil prices, which are at the lowest since November 18.The OPEC+ meeting originally...
Fed’s Bostic: Not going into December meeting with the sense that outcome preordained
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Atlanta Fed GDPNow +3.2% vs +2.7% prior
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The bond bid returns, USD/JPY falls to the lowest since Oct 20
The early selloff in the US Treasury market has reversed, with yields now nearly flat on the day. US 2s are up 2 bps and 30s are down 2 bps. Earlier yields were 3-5 bps higher across the curve.With the reversal, the US dollar is falling, particularly against the yen...
Nasdaq breaks the early-November high as big cap tech leads the way
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US dollar climbs as manufacturing surveys highlight rush to buy supplies
The US Dollar Index has extended today's gain to 0.8% on broad strength. It's particularly strong against the euro, which is struggling as France's left and right wing opposition appear to be united in efforts to oust Barnier after he invoked constitutional rules to...
US October construction spending +0.4% vs +0.2% expected
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US November ISM manufacturing survey 48.4 vs 47.5 expected
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Tesla accelerates gains while healthcare and tech show mixed moves
Stock heatmap by FinViz.com Mon, 02 Dec 2024 14:46:13 GMTSector OverviewIn today's trading session, the consumer cyclical sector shines, driven by an impressive performance from Tesla (TSLA), which surged by 2.64%. This upward momentum suggests investors' growing...
US November fial S&P Global manufacturing PMI 49.7 vs 48.8 prelim
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S&P Global Canada November manufacturing PMI 52.0 vs 51.1 prior
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Eyes on retailers as we get indications from Black Friday shopping
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Shares of SMCI jump 20% after the company says it won’t restate financials
SMCI shares premarketShares of Super Micro Computer (NASDAQ: SMCI) jumped 20% in the premarket following a company announcement that an independent special committee found no evidence of misconduct by management or the Board of Directors.Special Committee, backed by...
ECB’s Rehn: There are reasons to continue cutting rates in December
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French PM Barnier to use special powers to adopt social security budget bill
The euro has been struggling today partly due to French political intrigue and the stalemate in parliament.PM Barnier has now invoked special constitutional powers to pass the budget, something I warned he could do last week. Le Pen has taken the stance that the...
The US dollar starts strong in a big week
US Dollar Index hourlyThere was a lively debate last week on the drivers of US dollar weakness. The nomination of Scott Bessent as Treasury Secretary seemed to kick off the move but it also came (and extended) as we counted down to month-end.Today we've gotten a...
ForexLive European FX news wrap: Dollar holds gains, euro struggles on French politics
Headlines:Markets:USD leads, EUR lags on the dayEuropean equities higher; S&P 500 futures flatUS 10-year yields up 0.2 bps to 4.195%Gold down 0.5% to $2,641.09WTI crude up 1.2% to $68.82Bitcoin down 2.2% to $95,063The dollar is off to a good start to the new...