The U.S. stock index futures took a hit as chip stocks faced downbeat results in premarket trading. Advanced Micro Devices (AMD) saw a decrease of 6.3% after its forecast for AI chip sales failed to meet investor expectations. Similarly, Super Micro Computer (SMCI) lost 9.1% as the artificial intelligence server maker reported third-quarter revenue below
The recent movement in the gold market has shown a bearish trend, with prices falling below key support levels and approaching oversold territory. The Relative Strength Index (RSI) and stochastic oscillator both indicate a stabilization in their downtrend, suggesting the possibility of a reversal in the near future. However, the negative trend is still prevalent,
Australia’s biggest banks are facing a challenging first half of the year, with expectations of weaker profits on the horizon. High operating costs and intense competition in the mortgage and deposit sector are squeezing margins, leading to a possible reversal of the stock rally that has been observed in the sector. Traditionally, the Big Four
The unexpected build in crude oil stockpiles in the United States has resulted in Western Texas Intermediate (WTI) prices trading in negative territory for the fourth consecutive day, hovering around $80.80 on Wednesday. This downward trend is a cause for concern among traders and investors as it indicates a potential oversupply in the market. While
Upon analyzing the 1-hour Elliott Wave Charts of Nikkei, it is evident that there was a bullish sequence in the rally from the 08 March 2022 low. This structure unfolded as an impulse, indicating a potential for more upside extension to complete the sequence. Members were advised against selling the index and instead encouraged to
It was a mixed bag for companies reporting their earnings after hours, with Amazon leading the pack. The e-commerce giant posted earnings of 98 cents per share, beating analysts’ expectations. Despite a strong performance in both the advertising and Amazon Web Services segments, the company fell short of revenue forecast for the second quarter, causing
A new Exchange-Traded Fund (ETF) known as the Calamos S&P 500 Structured Alt Protection ETF (CPSM) has recently been introduced to provide investors with a shield against market volatility. This new product, developed by Calamos, offers “100% downside protection” against losses in the S&P 500 over a one-year outcome period. Calamos’ head of ETFs, Matt
The recent decrease in the price of silver by 2.6% to $26.4 per ounce since Tuesday highlights a significant shift in momentum. Following a failed attempt to surpass the $30 per ounce mark on 7 April, silver has been experiencing sideways consolidation without any substantial rebounds. This decline is not simply a minor setback, but
According to Goldman Sachs, the magic number to watch out for in terms of rising yields negatively affecting equities is when the 10-year Treasury yield hits 5%. This conclusion is based on a new 19-page paper that analyzes market data since the 1980s. The correlation between bond yields and stocks turns negative at this threshold,
The GBP/JPY currency pair has been steadily rising as market sentiment improves, leading to reduced flows to the safe-haven Japanese Yen. Positive lending data in the UK indicates that credit remains ample, which has contributed to the optimism in the market. The BRC Shop Price Index shows disinflation in the UK, but analysts believe it
When analyzing the Australian Stock Exchange (ASX) with REA GROUP LTD – REA, we can see that the Elliott Wave theory suggests that wave 2-red may have recently concluded, indicating the potential for a significant push higher with wave 3-red. This analysis focuses on the major trend in a minor degree, highlighting the motive mode
The Eurozone preliminary core CPI rate for April continued to inch lower at 2.7% y/y, marking its slowest pace of inflationary pressure since February 2022. This downward trend is significant as it reflects a weakening economic situation within the Eurozone. Additionally, the widening spread between 2-year and 10-year Eurozone sovereign bonds and US Treasuries suggests