The US technology index saw its price reach 20,771 points for the first time since its inception.
The long-term uptrend is clearly identifiable since the January 2023 rally. Technically, it remains intact, with breakouts and retests at every key price level.
At the time of writing, few hours to go before the weekend and a few days to go before the end of the...
Gold prices rose 0.3% to $2,371.23 per ounce in Asian trading on Friday, with August futures up 0.7% to $2,369.90. However, gold had a weekly decline of 1.2% due to a strong dollar and expectations of higher interest rates. The gold price has corrected -5.33% since July 17.
Gold has hit record highs in July, but then pulled back following profit taking and...
LVMH, the luxury giant, reported a 14% drop in its 1H2024 profit, disappointing analysts and dragging down the luxury sector. This caused the Cac 40, the French stock market's benchmark index, to lose more than 1%, led by LVMH's drop of more than 6%. Other luxury giants such as Kering, Hermès, Pernod Ricard and L'Oréal also suffered losses.
This weakness in the...
After a bullish rally of several consecutive days, which saw the index reached a new all-time high of 41,415 points, the US industrial index has seen a slight correction. With the short- to medium-term uptrend remaining intact, market operators will have to focus on the 40,000-point zone, a former all-time high that has given buyers a hard time for several...
The big tech companies present their results this week. Alphabet and Tesla open today, followed by Microsoft, Amazon, Apple and Meta. These giants drove Wall Street's growth, but now face competition from smaller companies, helped by the Fed's rate cuts.
The Nasdaq 100 fell 3.98% last week, and analysts suggest that without solid results, tech stocks could...
Banco Sabadell reported a record net profit of €791 million in the first half of 2024, up 40.3% year-on-year, beating analysts' expectations. The bank increased its promised dividend by 21%, committing to distribute €2.9 billion between 2024 and 2025, in response to BBVA's hostile takeover bid. Return on tangible equity (RoTE) rose to 13.1%, and the top-quality...
🇺🇸🗳️ Elections 2024: Impact of the ACA on Health Care and Insurance💊 📊
Hello Traders,
The U.S. elections are keeping the financial market in a state of uncertainty, especially the insurance and healthcare sector. Analysts are keeping an eye on subsidies for the Affordable Care Act (ACA), which will expire next year.
• Republican Scenario: If the...
- Similarly to our previous analysis on USDJPY, the CADJPY pair has been trading above a bullish trend line for 7 months ; the mid-term trend was bullish.
- Since the impact around 118.85, the market has registered a sharp pull-back that first led prices back to their bullish trend line around the 23.6% Fibonacci support above 115.385, before a bearish break-out...
Hello Traders,
The latest security update from the global cybersecurity giant caused a major service disruption today, Friday. This has affected globally such that companies like Microsoft, various stock exchanges, major banks, media companies, airports and airlines in Asia-Pacific, US and Europe; payment systems, supermarket services, emergency services and 911,...
- The market has been trading inside a bullish channel for 7 months (since Jan-2024) ; the mid to long-term trend was then bullish.
- Since the latest market top registered at a new all-time high, sellers have taken control.
This situation, boosted by taking-profit moves from long investors, has led the market to a pull-back.
However, Sell traders have been so...
Hello Traders,
Gold continues to make higher highs in the Asian session on the back of a weak dollar and expectations of interest rate cuts by the Fed. The CME Fedwatch tool shows a 94% probability of a 25 basis point cut in September, weakening the dollar to its lowest level in nearly four months and boosting gold.
Trade tensions with China escalate over...
- The market is trading inside a bullish channel since end of May ; The mid-term trend is then bullish for the Hedge funds' favorite index.
- The market has just reached a new all-time high above 5675pts, carried by rate cuts bets following strong Retail Sales data showing a more resilient US Economy than anticipated.
In addition, the technical landscape isn't...
Hello Traders,
We are in an era of intergalactic business, and Airbus (EPA:AIR, Ticker AT: AIR.FR/.GE) and Thales (EPA:HO) could join forces in the satellite arena. This potential alliance would create a strong pan-European space coalition to compete with the missile expertise of MBDA and large global players such as Lockheed Martin (NYSE:LMT), Northrop Grumman...
Recently, Amazon (NASDAQ:AMZN) has launched war on Chinese platforms Shein (private) and Temu (PDD Holdings Ticker: NASDAQ:PDD), both of which have been capturing significant market share in online retail sales. Amazon has announced the opening of a new online store for low-cost products shipped directly from China. Initially, this store will focus on brand-name...
Today, Monday, the Asian market started lower against the US dollar following Donald Trump's shooting over the weekend. The Japanese "Ocean Day" holiday celebrated on the third Monday of July, which is very important for the Japanese country, has led to moderate trading volumes without the Japanese market active. The Yen weakened slightly and on the alert of...
The German stock market closed with gains on Thursday with +0.72% and has continued its opening with +0.3%. The best stock of yesterday's session was Sartorius AG VZO ON which reached €243.40/ac. at the close, followed by RWE AG ST ON €34.03/ac. and Vovonia SE €29.19/ac. The worst performers were Airbus Group SE closing at €131.96, Deutsche Bank AG NA ON at...
Hello Traders,
The stock market seems to have entered a "TOC" or "Mania" phase of continued Success in what looks like a vertical climb since the 4th of July celebrations. The rate of change has shown that there is some acceleration in the trend, and is also reflected in the SPY ETF a reduction in trading volume and in part the increase in price is probably due...
- The market has registered higher highs and lows for 6-months ; the mid-term trend is then bullish
- Since the last market top, prices have registered another pull-back to $4.0774.
During this consolidation, the market has registered a rounding bottom pattern, highlighting the fact buyers remain powerful enough to switch market sentiment and lead prices to new...
