UBS global wealth management has a target for the S&P 500 at 6600 by the end of 2025. Analysts there argue for the continued rally citing:continued growth in AI-related capex reported by all three tech giants supports the positive structural trendbest...
Apple earnings: EPS of $1.64 vs $1.60 estimate
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Economic calendar in Asia 01 November 2024 – China manufacturing PMI due (the 2nd one)
Another PMI from China is due today. The Caixin Manufacturing PMI for October. China has two primary Purchasing Managers' Index (PMI) surveys - the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company...
Trade ideas thread – Friday, 1 November, insightful charts, technical analysis, ideas
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
October monthly changes: US stocks end the five-month winning streak
Coming into today, the main US stock market indexes looked like they would be climbing for the sixth straight month and 11 of the past 12.Instead, heavy selling hit and erased the monthly gains and more. As a result:S&P 500 -1.0%Nasdaq Comp -0.5%Russell 2000...
Amazon reports big beat on earnings and revenue
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US stock markets beaten up, close on the lows. More earnings to come
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Forexlive Americas FX news wrap 31 Oct: Stocks scared on Halloween (and ahead of election)
Markets:Gold falls -$38 or -1.37% at $2748.99Crude oil is trading up close to $2.00 after reports that Iran is preparing for a major retaliatory strikeBitcoin is down close to -$2000 at $70,372. The price peaked at $73600 on Tuesday just short of the all time high at...
USD/CAD fails in the first attemp to touch the highest since 2022
USD/CAD stalled out today right at the August high of 1.3946. A break above it would have been the highest since 2022 and not far off the highest since 2020.USD/CAD dailyThe pair is has climbed relentlessly since the final week of September as the Canadian economic...
Crude oil settles at $69.26
Crude oil is settling at $69.26. That is up $0.65 or 0.95%.Looking at the daily chart, the price yesterday moved to a swing area between $66.76 and $67.69 and stalledSoon after the settlement, there has been a report that Iran is pairing a major retaliatory strike...
Iran is preparing a major retaliatory strike – report
Iran is preparing a major retaliatory strike against Israel from Iraqi territory in the coming days, possibly before the US election, according to two sources cited by Axios.Oil has spiked higher on the report. There was a similar report yesterday but from a...
Nasdaq edges to a fresh session low as AI trades hit hard
The S&P 500 touched a session low, down 96 points or 1.6%. The Nasdaq is hurting worse, down 2.6%.Worryingly, some of the highest flyers are being hit hardest today:MSFT -5.6%NVDA -4.7%META -4.6%$AMD -3% (after a 10% decline yesterday)SOXX semiconductor ETF...
New lows for the broader indices
The broader indices are trading to new session lows: S&P index is down -93 points or -1.60% at 5720.40NASDAQ index is down -473 points or -2.55% at 18132.97.Looking at the NASDAQ index, it is trading above and below key support near 18146.61. The price is just...
October non-farm payrolls preview by the numbers: Hurricane and strike effects in focus
Consensus estimate +113K Estimate range +0K (ABN AMRO) to +200K (DBS Bank)September was +254K Private consensus +90K versus +223K priorUnemployment rate consensus estimate 4.1% versus 4.1% priorPrior unrounded unemployment rate 4.0510%Prior participation rate...
Mawari Announces Node Sale to Bring Immersive Content to the World
Mawari Network, a spatial computing DePIN (Decentralized Physical Infrastructure Network), has announced a limited node license sale. Already a pioneer in immersive content, the node sale will make Mawari’s 3D streaming technology more scalable and accessible for...
Nexo Unveils Strategic Rebrand as a Premier Digital Assets Wealth Platform
Nexo, a leading digital assets institution, today announced its major rebrand and platform redesign, marking its evolution from a crypto lending pioneer to the first comprehensive and compliant digital assets wealth platform. Unveiled on Bitcoin Whitepaper Day, this...
USD/JPY: Make or break at 151.30 – SocGen
Societe Generale highlights 151.30 as a crucial support for USD/JPY, as the pair’s recent gains suggest strong upward momentum. While signals of a pullback are beginning to appear, maintaining above 151.30 could extend USD/JPY’s targets to higher levels.Key...
European indices close lower. German DAX and France’s CAC down 1%
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
UK Chancellor Reeves: Tax increases in budget were necessary
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
The break in the USDCAD failed. Reverses higher to 2024 high.
The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the...