Next Thursday, March 21, Nike B will release its results in reference to the third fiscal quarter of 2024. Wall Street analysts have renewed their price target for Nike B with a positive outlook, despite negative estimates According to Brand Finance’s 2023 Apparel 50 Annual Report, Nike was named the top sports brand worldwide for the ninth […]
Wholesale inflation rises in February and its impact on the U.S.
Wholesale prices increased at a faster-than-expected pace in February, another reminder that inflation continues to be a growing concern for the U.S. economy. The Producer Price Index, which looks at costs in the supply chain for raw, intermediate, and finished goods, rose 0.6% during the month, the Labor Department’s Bureau of Labor Statistics released Thursday. […]
Dollar Rallies on PPI Expectations, EUR on ECB Expectations
The U.S. dollar (USD) gained value in European market trading on Thursday, maintaining recent strength in anticipation of the release of further clues about U.S. interest rates relative to producer inflation along with retail sales data. The dollar Index (DXY), which tracks the value of the U.S. dollar against a basket of six major currencies, stood […]
Bank of America revises upward positive S&P 500 estimates
The S&P 500 will deliver higher-than-expected earnings in 2024, fueled by steady growth and advances in artificial intelligence, according to analysts at Bank of America Corp. (BAC), recognized as one of Wall Street’s top earnings forecasters. In a recent statement, the financial institution commented that they have raised their S&P 500 earnings per share (EPS) estimate to $250 […]
U.S. Inflation remains high in february data
In February, the Consumer Price Index (CPI) grew grew 0.4% month-over-month and 3.2% annually. The Bureau of Labor Statistics of the Department of Labor reported that the core CPI, which does not include food and energy prices, rose 0.4% in February and 3.8% compared to the same month last year. Although inflation has been falling since […]
Daily Technical Analysis: GBP/USD Uptrend Gains Momentum
The British pound (GBP) aims to reach multi-month highs against the US dollar (USD). This week, alongside recent CPI data showing unexpected inflation persistence in the U.S., pay attention to wage data and further inflation figures. Sterling is likely to reach its highest level in several months against the dollar this week, boosted by positive signals from […]
London Stock Exchange to accept BTC and ETH ETNs
The UK’s Financial Conduct Authority said it will not oppose applications to create a market segment for ETNs backed by cryptocurrencies. The London Stock Exchange (LSE) reported that it is going to start allowing and accepting applications for Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs) by the second quarter of 2024. On Monday, March 11, […]
Boeing stocks have fallen more than 25% so far in 2024
Boeing shares fell nearly 3.2% to be the worst performer among members of the Dow Jones Industrial Average. The disappointing year for Boeing (BA) continues into 2024, recently hitting a new low, with shares plunging more than 25% so far this year, just after the Justice Department began a criminal investigation into issues related to the […]
Outlook for this week’s most important events
Key points to watch out for: US CPI: A Potential Challenge The US Federal Reserve (Fed) is not due to meet until the 20th of this month to make a decision on the country’s monetary policy, and after last week’s jobs report, all eyes are now on the CPI figures due for release on Tuesday, […]
Daily Technical Analysis EUR/USD: The pair trades below major resistance
The EUR/USD is trading in a wide range below 1.0950 during European hours on Monday. This activity triggers an extension of a sideways move against the US dollar. Despite trading consistently defensively last week, the dollar has remained firm. Investors Investors are currently hesitant to place any bets on the major currency, awaiting the release of CPI […]