With stocks struggling again on Tuesday , Bank of America’s chart analyst said a “tactical correction” is underway and may continue for a bit longer because of seasonal weakness historically in the upcoming period. “After testing the target for the summer rally at 4580 and chart resistance at 4590-4637 in late July, the [S & … Read more
An Hour Ago Indonesia’s second quarter GDP grew above analysts’ expectations Indonesia’s gross domestic product for the second quarter expanded 5.17% year-on-year, higher than analyst forecasts of a 4.93% growth, according to Refinitiv data. On a quarterly basis, the Southeast Asian nation’s GDP grew 3.86%. —Lee Ying Shan An Hour Ago Thailand’s July inflation numbers … Read more
10 Mins Ago Data supported a 25-basis-point rate hike from the Bank of England, strategist says Jordan Rochester, G10 FX strategist at Nomura, discusses market implications of the Bank of England’s 25-basis-point rate hike. 11 Mins Ago BOE sees U.K. inflation at 5% by year-end The Bank of England expects U.K. consumer price inflation around … Read more
Timing of Treasury auction could create opportunity to enter the … CNBC Source link
The Dow Jones Industrial Average broke a 13-day winning streak Thursday, the likes of which were last seen in 1987. As momentous as the rally was, these types of winning streaks aren’t terribly different from the result of flipping a coin, according to an analysis by CNBC. CNBC ran a simulated coin flip thousands of … Read more
Wed, Jun 28 2023 11:47 AM EDT Fed’s Powell on interest rate hikes: More restriction coming because of strong labor market CNBC’s Sara Eisen speaks with Federal Reserve Chairman Jerome Powell and other global central bank leaders Wednesday morning at a monetary policy forum in Sintra, Portugal. Wed, Jun 28 2023 9:39 AM EDT U.S. … Read more