Dow Poised To Snap Skid, Pops Over 300 Points
Oct 28, 2024
Jeremy Parkinson
Finance
Stocks are soaring today, as Wall Street finds footing ahead of a busy week of earnings. The Dow Jones Industrial Average (DJIA) is up 331 points midday, poised to halt a five-day skid. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also firmly higher, the latter a chip shot from another record high. […]
Elliott Wave Technical Analysis: British Pound/U.S. Dollar – Monday, Oct. 28
Oct 28, 2024
Jeremy Parkinson
Finance
Photo by Colin Watts on Unsplash GBPUSD Elliott Wave Analysis – Trading Lounge British Pound / U.S. DollarGBPUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Impulsive STRUCTURE: Orange Wave A POSITION: Navy Blue Wave 2 DIRECTION NEXT HIGHER DEGREES: Orange Wave B DETAILS: The ongoing Elliott Wave analysis for GBPUSD on the daily chart indicates a counter-trend structure featuring an impulsive wave (orange wave A) currently active […]
Busy Week Of Economic Reports Scheduled Ahead Of The Election
Oct 28, 2024
Jeremy Parkinson
Finance
The last full week ahead of the US election is jam-packed with key economic reports. As a result, the potential for surprises that could sway voters is in high gear in the days to come. Here’s a quick rundown of the key releases this week.Tuesday, Oct. 29: Job openings for September are the main event. Openings […]
S&P 500 Earnings Dashboard 24Q3 – Monday, Oct. 28
Oct 28, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash S&P 500 Aggregate Estimates and Revisions 24Q3 Y/Y earnings are expected to be 4.3%. Excluding the energy sector, the Y/Y earnings estimate is 6.9%. Of the 184 companies in the S&P 500 that have reported earnings to date for 24Q3, 78.8% reported above analyst expectations. This compares to a long-term average of 66.9%. The 24Q3 Y/Y blended revenue growth estimate is 4.4%. If the energy sector is […]
Asian Stock: President Chain Store Corp
Oct 28, 2024
Jeremy Parkinson
Finance
TM Editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.Company: President Chain Store CorporationBloomberg ticker: 2912 TTMarket cap: US$9,421mBackground: President Chain Store Corporation (PCSC) is part of Uni-President Group (1216 TT) and operates 7-Eleven in Taiwan, China, and Philippines. They also invest in retail formats, restaurants such […]
Are Bond Market Yields Rising Due To A Surge In Trump’s Election Odds?
Oct 28, 2024
Jeremy Parkinson
Finance
Jim Bianco has some interesting charts and a corresponding explanation for the surge in 10-year Treasury yields.Bianco has a Series of Charts comparing Polymarket betting odds to bond yields, the stock market, Bitcoin, and other things.In August the election betting market and the bond market were negatively correlated, and very strongly so.Now they seem strongly correlated in […]
Sensex Today Ends 603 Points Higher; Nifty Above 24,300
Oct 28, 2024
Jeremy Parkinson
Finance
After opening the day higher, Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.Indian equity indices traded higher on Monday after five days of consecutive declines, despite ongoing foreign selling and lackluster corporate quarterly earnings.At the closing bell, the BSE Sensex stood higher by 603 points (up 0.8%).Meanwhile, the NSE Nifty closed […]
De-Dollarization: The Spirit Is Willing, The BRICS Is Still Weak
Oct 28, 2024
Jeremy Parkinson
Finance
By Mike Maharrey The desire to unseat the dollar as the global reserve currency is strong, but it’s easier said than done. And it doesn’t appear the BRICS bloc is quite up to the task – yet.Russia, in particular, has pushed hard for the BRICS nations to create alternatives to the dollar-dominated global financial system, but […]
EUR/JPY Tests The Previous High At 164.90 After Rejection At 166.00
Oct 28, 2024
Jeremy Parkinson
Finance, No picture
The Euro has failed to find acceptance above 166.00 earlier today and has given away gains. The Yen has trimmed losses as the market digests the results of Japan´s elections and the pair has retreated to rest support at last week’s high, at 194.90. The Yen dropped across the board during the early Asian season […]
A Massive Short Squeeze On Gold?
Oct 28, 2024
Jeremy Parkinson
Finance
For those uninitiated in finance, a “short squeeze” refers to a situation where an individual or legal entity sells an asset in the future without owning it first, in the hope of buying it back later at a lower price in order to make a profit. However, if the price of this asset increases instead […]