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Musk rejects allegations of advising Trump on crypto

Musk rejects allegations of advising Trump on crypto

May 30, 2024 Cryptocurrency, No picture 0

Elon Musk denied the claims that he’s a crypto advisor for Donald Trump’s presidential campaign mentioned in a recent Bloomberg report. Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do — Elon Musk (@elonmusk) May 30, […]
More Soft Economic Data, Q1 GDP Revised Lower, Q4 GDI Significantly Lower

More Soft Economic Data, Q1 GDP Revised Lower, Q4 GDI Significantly Lower

May 30, 2024 Finance 0

The economic slowdown continues led by income and consumer spending.GDP and GDI data from BEA, chart by Mish The BEA made significant revisions to Gross Domestic Product (GDP) and Gross Domestic Income (GDI) data for 2024 Q1 and 2023 Q4 respectively.GDI is not reported in in the first release of GDP so the revision for GDI pertains […]
Russell 2000 Earnings Dashboard 24Q1 – Thursday, May 30

Russell 2000 Earnings Dashboard 24Q1 – Thursday, May 30

May 30, 2024 Finance, No picture 0

Image Source: Unsplash  Russell 2000 Aggregate Estimates and Revisions The 24Q1 Y/Y blended earnings growth estimate is –1.3%. If the energy sector is excluded, the growth rate for the index is 11.5%. Of the 1,700 companies in the Russell 2000 that have reported earnings to date for 24Q1, 59.4% reported above analyst expectations. The 24Q1 Y/Y blended revenue growth estimate is -0.2%. If the energy sector is excluded, the growth rate […]
Slight Increasing Trend In Initial Jobless Claims, But Continuing Claims Continue Slightly Lower

Slight Increasing Trend In Initial Jobless Claims, But Continuing Claims Continue Slightly Lower

May 30, 2024 Finance 0

Initial jobless claims rose 3,000 last week to 219,000. More importantly, the 4 week moving average rose another 2,500 to 222,500, the highest level in 9 months. With the usual one week lag, continuing claims rose 4,000 to 1.791 million:On the one hand, it does appear that claims have been in a small uptrend for […]
AUD/USD Stable At 0.6608 Despite Bearish Market Sentiment

AUD/USD Stable At 0.6608 Despite Bearish Market Sentiment

May 30, 2024 Finance, No picture 0

 Image Source: Unsplash   AUD Decline: The Australian Dollar fell over 0.50% against the US Dollar due to high US Treasury yields and weak bond auction demand. Market Sentiment: Negative sentiment was driven by hawkish remarks from Minneapolis Fed President Neel Kashkari and mixed US economic data. Technical Indicators: AUD/USD faces potential pullback; key support levels at 0.6558/59 […]
Bitcoin’s Post-Halving Bull Run Is Yet To Come, And It Got More Catalysts

Bitcoin’s Post-Halving Bull Run Is Yet To Come, And It Got More Catalysts

May 30, 2024 Finance 0

Image Source: Pexels  IntroductionAfter a buoyant Q1, crypto prices seem to have eased off with the price of BTC/USD down about 8% from its March highs.While a lot of those gains can be attributed to the Spot Bitcoin ETF approvals and anticipation of the Bitcoin Halving Event, that rally brought back to the market another class […]
Dow Down 386 Points Amid Salesforce Slide

Dow Down 386 Points Amid Salesforce Slide

May 30, 2024 Finance 0

The Dow Jones Industrial Average (DJI) is looking to extend yesterday’s sharp losses, down 386 points midday. Salesforce stock’s post-earnings slide is weighing on the blue-chip index, with the cloud name down 20.6% at last glance. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly lower as well, though the latter is still headed for its […]
World Equity Indices: Are The Bears Coming Back?

World Equity Indices: Are The Bears Coming Back?

May 30, 2024 Finance 0

Image Source: Pixabay  In our analyses, we regularly examine current movements, identify possible influencing factors, and assess the general market situation. However, these are not recommendations, but merely opinions and food for thought.What was already looking like it at the end of March is now becoming apparent again: the bears seem to have woken up from […]
GBP/USD Price Analysis: Recovers Above 1.2700 Amid Soft US Dollar

GBP/USD Price Analysis: Recovers Above 1.2700 Amid Soft US Dollar

May 30, 2024 Finance 0

GBP/USD bounces back off weekly lows around 1.2680. Technical outlook shows neutral to upward bias, with key resistance at 1.2803. Critical support levels include May 24 low at 1.2674 and the 50-DMA at 1.2581. The Pound Sterling recovered some ground against the US Dollar on Thursday, as US Treasury yields are sliding, undermining the Greenback. Consequently, the […]
Softs Report – Thursday, May 30

Softs Report – Thursday, May 30

May 30, 2024 Finance, No picture 0

Photo by Karl Wiggers on Unsplash  CottonGeneral Comments: Cotton was lower yesterday on a stronger US Dollar that hurt new demand ideas. USDA said that 60% of the US crop was rated good to excellent on Tuesday afternoon. The weekly export sales report showed much improved sales last week. Wire reports indicate that speculators were […]