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The Job Openings and Labor Turnover Survey (JOLTS) is a critical economic indicator that provides insights into the dynamism of the labor market. This data, released by the US Bureau of Labor Statistics (BLS), sheds light on the number of job openings, layoffs, and quits in a given period. Market participants and policymakers, especially those
Warren Buffett’s Berkshire Hathaway has been on a selling streak, particularly with its Bank of America stake. This streak has now extended to nine straight days, raising questions about Buffett’s motives in trimming this long-time holding. The recent regulatory filing revealed that Berkshire sold a total of 18.4 million shares of the bank over the
Looking at the Short Term Elliott Wave View in E-Mini Dow Jones Futures (YM), the analysis suggests that the trend is set to continue higher within the sequence initiated from the April 2024 low as part of the daily sequence. This viewpoint favors the upside potential in wave 5 of (5) since the 18th of
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Oil prices are facing significant pressure due to a softening demand outlook, according to recent reports. The worries over Chinese demand have overtaken concerns about tensions in the Middle East or Venezuela, causing traders to turn into sellers. Brent crude futures hit a low of $79.36, signaling a bearish sentiment in the oil market despite
The Australian Dollar (AUD) has been experiencing a downward trend against the USD, with key economic concerns impacting its value. Despite expectations of a rate hike by the Reserve Bank of Australia (RBA), issues with the local economy and Chinese economic woes have hindered any significant upward movement. The persistent high inflation in Australia has
The newly appointed finance minister, Rachel Reeves, wasted no time in highlighting the dire state of Britain’s public finances. She revealed that her Conservative predecessor had left public spending on track to exceed budgets by a staggering 21.9 billion pounds for the current year. To address this, Reeves announced immediate 5.5 billion pounds of cuts
The Bank of Japan (BoJ) is on the brink of announcing a significant decision regarding interest rates. With the global economy already grappling with inflation and other economic challenges, the BoJ’s move could have a profound impact on financial markets worldwide. Along with a potential rate hike, the BoJ is also set to unveil a
The USDJPY has kicked off the week with a hint of positivity, but the bulls are facing a challenging battle to gain control. The 20-period simple moving average (SMA) in the 4-hour chart is proving to be a tough barrier for the bulls to overcome. While both the stochastics and RSI have turned upwards, the
The stock market saw a slight rebound on Friday, with the S&P 500 index closing 1.11% higher, although it closed well below the daily high. This could indicate consolidation rather than a definitive change in the short-term trend. The market may see another attempt at reversing the downtrend this morning, with the S&P 500 likely
As the Federal Reserve officials prepare for their upcoming meeting, the market anticipates that they will keep rates unchanged. However, there is a strong belief that a 25 basis point rate cut could be on the horizon for the September meeting. Evercore ISI strategists suggest that while the Fed is laying the groundwork for a