After a weak jobs report stoked fears of US economic recession last week, Wall Street investors will stay cautious and closely watch the upcoming economic data in the week ahead. A report on Friday showed hiring by US employers slowed in July by much more than economists had expected. Next week, reports on US services … Read more
Gold prices surged over 1 per cent to a record high on Tuesday as investors turned to the safe-haven asset following comments from Federal Reserve officials that solidified expectations for a U.S. interest rate cut in September. By 11:01 a.m. ET (1501 GMT), spot gold increased by 1.3 per cent to $2,452.29 per ounce, while … Read more
Next Week, Wall Street will see two key economic reports on industrial production and retail sales, and second quarter results of several major companies such as streaming giant Netflix, Goldman Sachs, Bank of America, Abbott Laboratories, and Johnson & Johnson. After Federal Reserve Chairman Jerome Powell’s testimony to the US Congress last week, investors will … Read more
European Central Bank officials may be about to prime investors for another interest-rate cut, though only after one of the Governing Council’s longest-ever summer breaks between decisions. With a move on Thursday effectively ruled out as policymakers take time to assess the strength of lingering inflation pressures, traders are likely to watch closely for any … Read more
US Federal Reserve Chairman Jerome Powell on Tuesday testified before the Senate Banking Committee. Powell in his prepared testimony told Senators that inflation had been improving in recent months but more good data would strengthen the case for interest rate cuts. “More good data would strengthen our confidence that inflation is moving sustainably toward 2%,” … Read more
Next week, Wall Street will see several key economic data such as the Federal Reserve minutes, employment numbers, S&P final US manufacturing PMI, and trade deficit data. Job openings data for May and nonfarm payrolls report for June are likely to be the major focus of the stock market participants. Last Friday, a report showed … Read more
Wall Street investors in the week ahead will be eyeing the US Federal Reserve preferred inflation gauge – PCE, and the personal income and spending data. Among the other crucial data, the second revised estimate of first quarter GDP (gross domestic product) growth and May home sales numbers are due in the week ahead. The … Read more
On Wall Street in the week ahead, the stock markets would be guided by key economic data such as US retail sales and factory output among others. The holiday-shortened week will also see few big earnings such as IT and consulting services firm Accenture and supermarket chain Kroger. Economic events On June 17 (Monday), data … Read more
TSX ends down 1.2% at 21,698.11 * Posts its lowest closing level since April 17 * Energy falls 3.1% * Financials end 1.2% lower By Fergal Smith June 13 – Canada’s main stock index fell to a near two-month low on Thursday, weighed by declines for financial and commodity-linked shares, as investors worried that the … Read more
World’s biggest cryptocurrency Bitcoin slid as much as 3.78 per cent to $66,817 on Tuesday reflecting trader anxiety ahead of the US inflation data release and the Federal Reserve’s monetary policy decision. Bitcoin reached a record high of $73,798 in March, boosted by inflows into dedicated US exchange-traded funds. However, it has struggled to achieve … Read more