Sunil Sahil
Oil prices held steady on Thursday after falling the day before, as indicators of declining gasoline consumption in the United States, the world’s largest oil consumer, competed with rising war threats in the major Middle Eastern producing area. Brent crude prices rose 18 cents, or 0.2%, to $88.20 a barrel at 0630 GMT, while US … Read more
Contracts on the S&P 500 and Nasdaq 100 reversed slight gains, trading little changed as Wall Street recovered from a $2 trillion selloff. Early results on Tuesday were mixed, with shares of United Parcel Service Inc., Lockheed Martin Corp., and General Motors Co. rising in premarket trade following earnings beats. PepsiCo Inc. fell after reporting … Read more
This week, companies who account for more than 40% of the gauge’s market value will disclose their results. The “Magnificent Seven” megacaps face high stakes, with earnings expected to increase by over 40% from a year earlier, according to Bloomberg Intelligence. The emphasis on profitability follows a sell-off fuelled by geopolitical concerns and signs that … Read more
US equities finished in a sea of red, albeit off session lows, as investors processed the idea that interest rate cuts may come later than expected. The Dow Jones Industrial Average (DJI) fell by roughly 1%, or about 400 points, reversing a quest to surpass the important 40,000 mark. The S&P 500 (^GSPC) fell 0.7%, … Read more
Better-than-expected statistics on US job vacancies and manufacturing goods orders fueled scepticism about the rate of Federal Reserve easing, reigniting the “good news is bad news” trade. With markets predicting fewer rate cuts in 2024 than the Fed, 10-year rates rose to their highest level since November. That dragged on the equity market, which had … Read more
Benchmarks rose in mainland China and South Korea, but Japanese stocks dipped as a survey revealed that confidence among the country’s big manufacturers had fallen somewhat for the first time in four quarters. In other news, gold hit a new high, bolstering a rise fueled by global worries and strong Chinese demand. China’s CSI 300 … Read more
After three days of red closings, US equities rallied Wednesday, with the S&P 500 setting a new high and the Dow gaining more than 475 points. The S&P 500 (^GSPC) closed at a record high of 5,248.50, up 0.8%. The Dow Jones Industrial Average (^DJI) increased by 1.2%, while the Nasdaq Composite (^IXIC) gained 0.5%. … Read more
Last week, the Fed told the stock market exactly what it wanted to hear. Stocks rose to new highs on Wednesday as the central bank said it still plans to lower interest rates three times this year. Despite a reversal on Friday, the main averages closed the week up more than 2% across the board. … Read more
The President, Andrew Anagnost, made the largest insider sell in the recent year. That single transaction was for US$5.0 million worth of shares at a price of US$224 apiece. That suggests that even if the share price was lower than the present price of US$263, an insider desired to cash in some shares. When an … Read more
According to AAA data, the national average petrol price was $3.53 per gallon on March 22, up $0.26 from the previous month. Petrol prices have gradually risen, jumping by about $0.10 in the previous week as rising oil prices and declining supplies put greater pressure on fuel expenses. Drivers may face greater hikes in the … Read more
