Market Overview

1 December 2023 09:02

Lysakov Sergey

U.S. stock futures continue to edge higher, crawling through its next 4,550 points barrier for the S&P broad market indicator inch by inch this week. The bullish mood was bolstered by a share price jump of Salesforce (CRM), which is a large customer relationship management technology provider. In after-hours deals on November 29 and a pre-market trading the next day, the stock suddenly gained more than 9.2% after the company's Q3 financial report. The company announced EPS (equity per share) of $2.11 vs $2.06 expected on revenues of $8.
30 November 2023 12:14

Constantinos Anastasiou

Even though NVIDIA shares dropped about 4.5% compared to their record daily close above $504 on November 20, that seemed to look like a technical correction process. Meanwhile, a fundamental effect of the quarterly report, which was presented by the AI chip leader just a week ago proved the segment's solid power, which may providing a bullish reference point for other companies closely related to digital transformation of the global economy.
24 November 2023 09:06

Lysakov Sergey

The British Pound reached its highest since early September at 1.2567 against the U.S. Dollar on November 23. GBP/USD has a good opportunity to hold initial gains after it settles a bit, with even further strengthening may follow, as U.K. business indicators point to a growing activity in both manufacturing and service segments of the national economy. The S&P Global composite purchasing managers' index (PMI) came out at 50.1 to inch the way through the 50 watershed between growth and decline for the first time in three months. A similar release showed a 48.
21 November 2023 17:19

Constantinos Anastasiou

Oil prices bounced to a $82-83 per barrel area for the Brent crude benchmark due to reactivated demand ahead of the Organisation of Petroleum Exporting Countries' energy ministers meeting on November 26. Sources close to Organisation cited by Reuters were saying that Saudi Arabia, Russia and their allies, a group known as OPEC+, might consider whether to make some extra oil supply cuts. OPEC+ has already reduced its total production quotas by 5.16 million bpd (barrels per day) during the last 12 months.
16 November 2023 17:09

Lysakov Sergey

U.S. stocks jumped above 4,500 in terms of the S&P 500 broad market barometer, supported by cooling national inflation and retail segment's earnings. Pan-European benchmark indicators echoed by three consecutive days of climbing up as well to test its one-month highs. Investors are waiting for the inflation data from the euro area that will be published on Friday. The U.S. headline inflation slowed down to 3.2% YoY from a 3.7% YoY in September, which is the first slowdown since mid-summer. On a monthly basis, prices came in flat.
14 November 2023 16:14

Constantinos Anastasiou

The government and aviation regulator in Beijing are reportedly considering lifting their four-year ban on Boeing's 737 MAX aircraft delivery. According to Bloomberg the U.S. president Joe Biden and the Chinese leader Xi Jinping could make it a part of a political deal between the two superpowers, as they are going to meet on the Asia-Pacific Economic Cooperation (APEC) summit. The rendezvous in the San Francisco Bay Area is scheduled on November 15.
9 November 2023 17:12

Lysakov Sergey

The Walt Disney Co market value bounced by more than 4% in pre-market trading on November 9 in the wake of the latest quarterly report. Its share price jumped after a few months of stagnation near pandemic lows when many feared extended subscriber loss. This fear grew stronger on a recent wave of price increases against growing costs related to Hollywood strike and a mixed performance in business returns.  Q3 numbers revealed that there was a moderate contraction in both earnings and total revenues, but earnings fell below expectations.
7 November 2023 17:06

Constantinos Anastasiou

Wall Street stocks extended its bounce after weak U.S. employment data on November 3, as cooling economy signs cemented the growing market's bets on a longer rate-hike pause. The probability of keeping the Federal Reserve's (Fed) interest rates target range is unchanged for its December 13 meeting and is now exceeding 90%, according to the CME FedWatch tool. It also jumped to 67% for the period ending by March 20, 2024.
2 November 2023 17:17

Lysakov Sergey

U.S. stocks were a little higher by the end of the hectic week. The U.S. Dollar index took a step back. Аll following the spirit of the Federal Reserve's (Fed) chair press conference on Wednesday's night of November 1. The central bank's decision to keep borrowing costs steady was not a surprise, as it was widely expected. However, investors thoroughly examined a statement by the Federal Open Market Committee (FOMC) to be more or less sure that a balanced approach to monetary policy is still here.
31 October 2023 17:32

Constantinos Anastasiou

Wall Street indices got a relief to bounce after two weeks of a fire sale-off. Moderate signs of the weakening pressure from the bearish camp in the markets may be temporary, coming only the day before the U.S. Federal Reserve's (Fed) policy decision. The Bank of England is also going to reveal its rate decision on the next day after the American regulator. The colleagues from the Bank of Japan kept its borrowing costs in the Yen at ultra-low levels close to zero. Their rhetoric change, concerning yield curve controls, was little. The USD/JPY went straight to the new annual highs around 151.
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