Stocks Lower As Tech Sector Selloff Accelerates
Mar 25, 2024Jeremy Parkinson0
The shortened trading week is kicking off with losses, as semiconductor stocks lead a broader tech selloff. Keeping up with premarket losses, the Dow Jones Industrial Average (DJI) is nearly 130 points lower, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also sitting in red ink. On the economic data front, new home sales came […]
Cloud Stocks: Adobe Monetizing Its Generative AI Tools
Mar 25, 2024Jeremy Parkinson0
Photo Credit: midiman/Flickr.com Adobe (Nasdaq: ADBE) recently reported its quarterly results that were ahead of market expectations. However, it provided a weak outlook that sent the stock tumbling 11% in the after-hours trading session. Adobe’s FinancialsAdobe’s first quarter revenues grew 11% to $5.18 billion, ahead of the market’s estimates of $5.14 billion. Adjusted EPS of $4.48 […]
US New Home Sales Unexpectedly Dropped In Feb As Prices Tumbled
Mar 25, 2024Jeremy Parkinson0
After a big surprise surge in existing home sales, new home sales in February disappointed, dropping 0.3% MoM (vs an expected 2.3% increase).Source: BloombergDespite the decline, new home sales are up 5.9%.Sales declined in the Northeast and Midwest…Source: BloombergWhile homebuilders are buying down rates, we note that mortgage rates jumped back above 7% in February and likely […]
Analytical Overview Of The Main Currency Pairs – Monday, March 25
Mar 25, 2024Jeremy Parkinson0
Image Source: Pexels The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0860 Prev Close: 1.0807 % chg. over the last day: -0.49 % The euro fell to $1.08, hitting its lowest level since February 29, as dovish comments from typically hawkish European Central Bank policymakers boosted hopes that the bloc’s central bank may start cutting rates soon. […]
Hope Springs Eternal, Again, For Small-Cap Equities
Mar 25, 2024Jeremy Parkinson0
The stock market is soaring and the rising tide has lifted small-cap shares, but if you’ve been expecting a hefty premium (or any premium) in smaller firms, well, there’s still plenty of disappointment to process.There have been periods in recent years when small caps rallied and overtook their large-cap brethren in the performance horse race. […]
Gold Poised To Hit New Records
Mar 25, 2024Jeremy Parkinson0
Image Source: Pixabay The strong trend for gold unravelled somewhat at the back end of last week thanks to a strong US dollar. As the metal retreated from the record high it had hit earlier in the week, it formed some mild bearish price action in the process, denting its short-term technical outlook. However, while it […]
Weekly Market Pulse: Rational Exuberance?
Mar 25, 2024Jeremy Parkinson0
Image source: Pixabay But where do we draw the line on what prices matter? Certainly prices of goods and services now being produced–our basic measure of inflation–matter. But what about futures prices or more importantly prices of claims on future goods and services, like equities, real estate, or other earning assets? Are stability of these […]
Is 2024 The New 2021 For Gold Price?
Mar 25, 2024Jeremy Parkinson0
The recent two tops in gold were 9 trading days apart… Just like in 2011, and the similarity doesn’t end there.The shape of the price moves that preceded the 2011 top, as well as the length of the consolidations, are also similar.Please note the days that I marked with red arrows based on their huge […]
Gold Analysis: Will It Break New Record Highs?
Mar 25, 2024Jeremy Parkinson0
During last week’s trading sessions, the price of gold finally surpassed the $2200 resistance level for the first time. Gains extended to reach the all-time high resistance level of $2222 per ounce for the yellow metal. Clearly, this came after the Federal Reserve indicated that it would proceed with three interest rate cuts in 2024 […]
Asian Stock: Hankook Tire & Technology
Mar 25, 2024Jeremy Parkinson0
TM Editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.Company: Hankook Tire & Technology Company LimitedBloomberg ticker: 161390 KSMarket cap: US$4,123mBackground: Hankook Tire & Technology Company Limited is a Korean manufacturer and distributor of tire and tube products. It’s top 10 in the world in tires. The […]