The Dow Jones Industrial Average (DJIA) surged into a record high on Tuesday, testing above 47,000 and posting a new all-time intraday high of 47,126. ‘Old economy’ stocks from companies that produce physical goods rather than information or technology services and hardware rallied hard after the latest batch of quarterly earnings swept past market expectations. […]
Zain Vawda Market Analyst Zain is an experienced financial markets analyst and educator with a rich tapestry of experience in the world of retail forex, economics, and market analysis. Initially starting out in a sales and business development role, his passion for economics and technical analysis propelled him towards a career as an analyst. He
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OpenAI is that it is launching a web browser built around ChatGPT called ChatGPT Atlas. Shares of Alphabet are lower on the news with the price down -1.67% at $252.28 that is still well above the low price for the day $244.15. Alphabet traded to a new all-time high yesterday at $257.33, closing at a
ANZ Bank HQ in Melbourne, Australia ANZ’s Group of 10 foreign exchange forwards activity skyrocketed with Pimco in the second quarter this year, with the Australian bank executing several chunky trades that ultimately made it the asset manager’s largest counterparty. Throughout 2024, the bank averaged $1.9 billion of G10 forwards trades with Pimco. But in
Gold (XAU/USD) drifts lower on Tuesday after retesting its record high near $4,380 on Monday. The pullback comes as the US Dollar (USD) extends its recovery gains and traders lock in profits following an overextended rally. At the time of writing, XAU/USD is trading around $4,175, down more than 4% on the day and marking
Slovenia’s producer price inflation moderated for the third straight month in September, figures from the Statistical Office of the Republic of Slovenia showed on Tuesday. Industrial producer prices rose 0.7 percent year-on-year in September, slower than the 0.9 percent increase in August. Prices have been rising since February. The prices of products for sale on
Canadian Dollar climbed across the board as markets enter into U.S. session, leading major currencies higher after domestic inflation data came in hotter than expected. Combined with this month’s firm employment figures, the data have made the case for a rate cut at the October 29 meeting a close call. While the BoC maintain an
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The USD/CAD pair maintains a bullish bias amid weak oil prices and heightened expectations of rate cuts by the Bank of Canada. This week’s upcoming Canadian CPI release could boost the CAD if the data exceeds the forecast. Traders look forward to the Canadian CPI and FOMC’s Waller’s comments for further policy cues. The USD/CAD
UK markets show resilience despite fiscal headwinds The FTSE 100 gained 0.3% in early trading on Tuesday, with strength in banking and energy sectors helping London outpace its European counterparts. The advance came even as gilt yields edged lower by approximately two basis points, reflecting cautious sentiment around UK government debt. Sterling weakened slightly, slipping
Asia Market Wrap – Nikkei Prints Fresh All-Time Highs Global stock markets continued to rally on Tuesday, with Asian shares and Japan’s main index hitting new record highs, as trade tensions eased and investors grew confident about future interest rate cuts. The regional stock index for Asia surpassed its previous peak, and a global index
She is due to deliver a keynote address at 1100 GMT as part of the Norges Bank Climate Conference. Right after, she will be participating in a moderated conversation with former US vice president Al Gore. The conference centers around discussing the impact of climate change and the energy transition on the macroeconomy and financial
Finland’s unemployment rate decreased in September to the lowest level in nine months, figures from Statistics Finland showed on Tuesday. The jobless rate among the 15-74 age groups dropped to 9.1 percent in September from August’s stable rate of 9.3 percent. In the same month last year, the unemployment rate was 8.1 percent. The number
Risk appetite swept across Asian markets today, lifting equities to fresh records as political clarity in Japan and trade optimism across the region buoyed investor confidence. Nikkei 225 surged to another all-time high after the Liberal Democratic Party’s Sanae Takaichi won 237 of 465 votes in the lower house, securing her position as Japan’s next
Silver price (XAG/USD) is down 0.9% to near $51.90 during the late Asian trading session on Tuesday. The white metal faces selling pressure as rally in precious metals has halted for now due to receding trade tensions between the United States (US) and China. Easing global trade frictions diminish demand for safe-haven assets, such as
What else to watch for? Amazon Web Services (AWS) performance and AI investments Investors will closely monitor AWS revenue growth, a key driver of Amazon’s profitability. Analysts will assess whether the segment’s margins, which dipped to 32.9% in Q2 from 39.5% in Q1 due to heavy AI infrastructure spending, show signs of recovery or further
