Key Events This Week: All Eyes On CPI As Fed Speakers Galore
After a very slow week, the key event for markets this week will be US inflation data with April’s PPI (Tuesday) and CPI (Wednesday) the highlights. We’ll see if the higher-than-expected US inflation seen in Q1 extends into Q2 or not. Markets will also hear from Powell (tomorrow) and Vice Chair Jefferson (today) as the highlights of […]
Platinum Market Faces Decade-High Supply Shortage
Image Source: Pixabay I’ve written extensively about supply shortfalls in the silver market. Silver demand outstripped the supply of the metal for the third straight year in 2023. But silver isn’t the only metal facing market deficits. Analysts expect the platinum market to chart its largest shortfall in a decade in 2024.Platinum doesn’t get the same […]
China Asks Tech Companies To Buy Less Of Nvidia Chips
Image Source: Pixabay Nvidia Corp (Nasdaq: NVDA) is in focus today following a report that China has asked its tech companies to prefer local AI chips. Why does it matter for Nvidia stock? The news is significant for the semiconductor behemoth as its H20, L20, and L2 chips are tailor-made for China. Peers that may also take a beating […]
Gold Price Reaches Key Retracement – Again
Image Source: Pixabay Gold declined after moving to its 61.8% Fibonacci retracement ONCE AGAIN. The implications are clear.Quoting my Friday’s analysis: Gold just jumped to its 61.8% Fibonacci retracement. On a day-to-day basis, we just saw a sizable, two-day rally that might seem like uptrend’s continuation. BUT. This is exactly what used to happen multiple times […]
GameStop Shares Halted Multiple Times As Roaring Kitty Returns To Social Media
Image Source: Unsplash GameStop shares experienced a whirlwind of activity in early Monday trading, resulting in the stock being halted three times due to significant volatility.The shares, which spiked to $31.70 each—an 81.6% increase—saw these pauses as traders and algorithms reacted to a sudden surge in interest and trading volume.This level marks the highest for GameStop since […]
Stocks Losing Their Morning Momentum
Stocks were looking to build on their best week of 2024 but lost steam as investors grappled with inflation fears. The Dow Jones Industrial Average (DJIA) has given back gains all morning, and its nine-day winning streak is now in jeopardy. The S&P 500 Index (SPX) is muted and the Nasdaq Composite (IXIC) have also […]
Thomson Reuters Commodity CRB Index Is Nearing Resistance
Image Source: Pixabay Thomson Reuters Commodity CRB Index is a price-weighted index that tracks the performance of a diverse basket of commodities, including energy, agriculture, metals, and livestock. When inflation started to cool down in 2022 and 2023, the CRB commodity index came nicely lower within a leading diagonal pattern for wave (A).Currently, we can see it trading and […]
Softs Report – Monday, May 13
Image Source: Pixabay COTTON General Comments: Cotton was lower last week and trends are still mixed in the market. USDA increased production for the coming year and also increased demand and ending stocks. The report was bearish for futures. Demand remains a problem. The export sales report showed poor sales once again and demand is not […]
Tesla, Ford, GM Gain After Reports That U.S. Will Hike Chinese EV Tariffs To 102.5%
Image courtesy of 123rf.com According to Bloomberg, President Joe Biden will announce a significant increase in tariffs on Chinese goods, focusing on electric vehicles (EVs) and related sectors. The move has drawn criticism from former President Donald Trump and sparked a response in U.S. auto stocks, with Ford (NYSE: F), Tesla (Nasdaq: TSLA), and General Motors (NYSE: GM) seeing gains […]
Improvement In Turkey’s Deficit Loses Momentum
Image source: Pixabay The improvement in the current account deficit in March was attributable to the continuing recovery in the foreign trade deficit. But the downward trend that started after the peak last July has lost momentum, with only a slight decline in the 12-month rolling deficit over the previous month.The current account in March posted a deficit […]
