Key points: DOJ Considers Action Against Alphabet Alphabet (GOOGL) faces potential government intervention as the U.S. Department of Justice considers breaking up Google to end what it describes as an illegal monopoly in search. The move, which is detailed in a court document filed Tuesday, may also include restrictions on how the company operates its […]
U.S. Stock Markets Decline Ahead of Fed Minutes, Google Faces Potential Breakup
U.S. stock markets declined on Wednesday, reversing the previous session’s gains, as investors braced for further signals from the Federal Reserve regarding interest rate policy. The broad S&P 500 index dropped 1%, while the tech-heavy Nasdaq Composite fell by 1.4%, and the Dow Jones Industrial Average slipped about 0.3%. Stock Markets Slip as Investors Await […]
U.S. Dollar Strengthens as Key Economic Reports Loom
The U.S. dollar rose on Wednesday in anticipation of U.S. interest rate estimates, while the euro lost ground. The dollar has seen a surge in demand since last week’s strong Friday payrolls report led the market to largely dismiss the option of another 50 basis point cut for November in favor of a much more […]
Daily Technical Analysis EUR/USD: Indecision Dominates Trading
The EUR/USD pair held steady on Tuesday, unable to regain the 1.1000 level but pausing the recent Fibonacci retracement from the 1.1200 area. The euro, which had seen losses after hitting a one-year high in late September, is again falling toward the 1.0950 zone, as the dollar strengthened across the board. European data has been […]
Today’s Stocks to Watch: LVMH, Alibaba, and DocuSign
LVMH and Rémy Cointreau stocks hit by China’s tariffs on European brandy. Alibaba and other Chinese tech stocks fall on loss of momentum in the Chinese market. DocuSign joins the S&P MidCap 400, replacing MDU Resources Group. LVMH and Rémy Cointreau face new tariffs from China China announced new tariffs on brandy imports from the […]
U.S. Stock Markets Rise, Fed to Make Key Announcements
U.S. stock markets and indexes rose on Tuesday, stabilizing after the previous session’s losses, as a strong payrolls report raised doubts about the Federal Reserve’s plans to sharply cut interest rates. Bets on a smaller rate cut caused Wall Street to post steep losses on Monday, with the S&P 500 down about 1%, the NASDAQ […]
Dollar Falls from Highs, Euro Gains on Strong German Data
The U.S. dollar declined on Tuesday, though it remained near seven-week highs, as market traders analyzed the Federal Reserve’s monetary policy estimates following last week’s strong employment report. The Dollar Appears to Be Pausing Friday’s strong payrolls report prompted traders to reassess the Fed’s rate-cutting path, with a 50 basis point cut in November mostly […]
Outlook for the Week of October 07-11
Key points to watch out for: Dollar Rallies on Safe-Haven Flows and Positive Data The U.S. dollar saw a sharp rally last week after Federal Reserve Chairman Jerome Powell hinted at continuing rate hikes of 0.25%, bolstering confidence in the economy.This rally was further supported by safe-haven flows triggered by Iran’s missile strikes on Israel, […]
Cryptocurrencies Exempted from VAT in the United Arab Emirates
The UAE has exempted cryptocurrency transfers and conversions from value-added tax (VAT), making it a more cryptocurrency-friendly jurisdiction for digital asset transactions. The amendments to the UAE’s VAT regulations will exempt transfers and conversions of digital assets, including cryptocurrencies. On October 2, the UAE’s Federal Tax Authority (FTA) made public the amendments to the country’s […]
U.S. Stock Markets Down: Fed, Inflation, Earnings in Spotlight
U.S. stock index futures were lower on Monday, shedding some of the previous week’s gains following strong payrolls data, with attention focused on more hints on interest rates and corporate earnings in the coming days. Wall Street rose sharply on Friday after better-than-expected nonfarm payrolls data eased concerns about a slowing U.S. economy but reduced […]