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Archives by Year:
The Energy Report: Crudes Raging Contagion.
Image Source: DepositPhotosThe crude oil market crash impacted the mood across the spectrum shaking confidence yesterday about asset classes across the board. Oil crashed below $70.00 based on rising US production and slowing economic fears and the magnitude of the move negatively impacted commodities across the board from stocks, and grains to sugar and even […]
Asia Week Ahead: Inflation From China And India, A BSP Pause And Australian Unemployment
Image Source: Pexels Next week features several data releases, and the main focus will be on inflation figures out from China and India. Meanwhile, Australia reports labour market data, Japan’s Tankan survey is scheduled for release, and the BSP decides on policy. China’s inflation to remain the negative territoryNext week will feature a data deluge from China, with the […]
Initial Claims Continue To Forecast Expansion
This morning we had our last look at initial jobless claims before tomorrow’s November jobs report. On a weekly basis, claims rose 1,000 to 221,000. The four-week average rose 500 to 220,750. With a one-week delay, continuing cliams declined 64,000 from last week’s 2 year high to 1.861 million: While continuing claims have continued to […]
GameStop Shares Plunge 7% After Revealing Bizarre Plan To Allow CEO Ryan Cohen To Invest Company Cash In Equities
Image Source: DepositPhotosShares of GameStop are plunging in the pre-market session, down about 7% after the company announced earnings that missed estimates.But it wasn’t the company’s perfunctory and boring earnings miss that drew the attention of Wall Street. Rather, it was the company announcement of a new policy that allows its Chief Executive Officer, Ryan […]
Google Up 2.6% In Premarket As New AI Model Released To Compete With GPT-4
Google introduced its most capable AI model, Gemini, claiming it can compete with OpenAI’s GPT-4.Google (GOOGL) recently announced the launch of its most powerful large language model (LLM) yet, Gemini, several months after OpenAI took the tech sector by storm with its GPT-4 model. In the announcement, Google claimed Gemini beat OpenAI’s GPT-3.5 and, in certain benchmarks, […]
Jobless Claims Data Surges (And Falls) With Seasonal Hiring At Decade Lows
After an ugly JOLTS print and disappointing ADP report, the headline jobless claims data comes to the rescue of the ‘goldilocks’ narrative.Initial claims (SA) were flat at 220k (but on a NSA basis surged)…Driven by a plunge in California…Continuing claims (SA) tumbled back below 1.9mm (but on a NSA basis surged)…But, but, but, it’s seasonals we […]
Elliott Wave Technical Analysis: Visa Inc.
Image Source: Unsplash Visa Inc., Elliott Wave Technical AnalysisVisa Inc., (NYSE: V): 4h Chart 7 December 2023V Stock Market Analysis: We have been moving as expected from the previous update. We are looking for a wave (iv) to then resume higher. This wave (iv) could be sideways as wave (ii) was more of a sharp correction. […]
USD/CAD Signal: Dollar Bounces Against Loonie
All things being equal, I would anticipate a lot of noise in this market, but I do think that we are starting to enter a potential “buy on the dips” scenario.The US dollar initially fell against the Canadian dollar during trading on Wednesday session, but as the Bank of Canada chose to keep its interest […]
Traders Caught Off Guard By BoJ Ueda
Image Source: Pexels Though there certainly wasn’t any definitive commitment to anything, the big story of the day has been the latest comments from BoJ Governor Ueda. The BoJ has leaned overly dovish to a fault over the years and there has never been any real bend to that communication.Video Length: 00:02:01More By This Author:When Bad […]
XAU/USD Gold Price Analysis Today: Gold Holds Strong Against Dollar Strength
The gains of the US dollar halted after data showed a less-than-expected increase in private sector employment in the United States. Thus, this data boosting optimism that the Federal Reserve would begin cutting interest rates sometime early next year. Recently, this allowed the gold price (XAU/USD) to stabilize around the $2035 resistance level. Currently, Gold […]
