Wall Street’s index futures took a hit on Tuesday as megacap stocks saw a pullback following a strong session. Companies such as Microsoft, Apple, and Amazon.com slipped in premarket trading after experiencing significant gains the day before. Tesla also shed 1% after a notable jump on Monday, while AI chip leader Nvidia and other semiconductor
The FX Empire article discusses the Reserve Bank of Australia (RBA) and the potential for an interest rate hike in the coming months. The article emphasizes the importance of monitoring the RBA’s determination to reach its inflation target, even at the expense of other economic indicators such as the labor market and macroeconomic environment. The
The news of meme stock trader “Roaring Kitty,” whose real name is Keith Gill, buying just over 9 million shares of Chewy created quite a stir in the financial market. This move amounted to a 6.6% stake in the pet food e-commerce retailer, making him the third-largest shareholder in the company. The value of his
A U.S. court has recently been asked to postpone a hearing to present the winning bid in an auction of shares in the parent company of Venezuela-owned refiner Citgo Petroleum. The request was made in order to allow the court officer evaluating bids to complete his assessment and negotiations with potential buyers. The auction, originally
Recent reports from Reuters suggest that Marine Le Pen’s far-right party, the National Rally (RN), emerged victorious in the first round of parliamentary elections in France. The victory of a right-wing party like the RN has caused ripples in the financial market, particularly affecting the euro’s exchange rate against other major currencies. Upon closer examination
The EUR/USD pair has initiated a recovery wave above the 1.0710 resistance level. This recovery wave has prompted the pair to move into a short-term positive zone. One significant development is the clearing of a major bearish trend line with resistance at 1.0725. Furthermore, there has been a move above the 38.2% Fib retracement level,
Recent data from a central bank survey in Japan shows that while big manufacturers are feeling more confident than they have in over two years, the service sector is facing challenges due to rising costs. The weak yen has been a key driver of these increased costs, leading to a mixed economic outlook in the
The gold price has been oscillating in a narrow trading band recently, influenced by mixed fundamental cues. With rising bets for a September Fed rate cut, the US Dollar has been under pressure, thereby lending some support to the precious metal. However, the uncertainty surrounding the timing and extent of the rate cuts has left
In a bold move to address the challenges posed by a corporate and industrial crisis, Boeing has announced its intention to acquire Spirit AeroSystems in a $4.7 billion all-stock deal. This decision comes after months of negotiations between the two companies, signaling a significant shift in the aerospace industry landscape. According to Boeing, the total
The FX Empire article provides an overview of the upcoming US ISM Manufacturing PMIs and their potential impact on the USD/JPY exchange rate. It also discusses the finalized S&P Global Manufacturing PMI numbers for June and how changes to these numbers could influence market sentiment towards the US economy. However, the article lacks depth in
Gold prices are currently facing a downward trend, hovering around $2,325 in the early Asian trading session. Despite the volatility in the global market, gold continues to be a popular investment choice for many investors. The recent data on inflation in the US indicates a slowdown in the annual rate, hitting a three-year low. This
The far-right National Rally (RN) party’s victory in the first round of France’s parliamentary elections has stirred up a mix of reactions among investors and market analysts. The euro experienced a slight gain, reflecting a sense of cautious optimism in early Asia-Pacific trading. However, the final outcome remains uncertain, with days of negotiations and horsetrading