Day: May 7, 2022

May 07
Goodyear Tire stock gains after profit and sales beat expectations, while margin contracts

Shares of Goodyear Tire & Rubber Co. GT, -9.49% rose 0.7% in premarket trading Friday, even after the tire marker reported first-quarter profit and sales that beat expectations, while gross margin contracted as cost of sales growth outpaced sales growth. Net income rose to $96 million, or 33 cents a share, from $12 million, or […]

May 07
U.S. gains 428,000 jobs in April, and wages rise again — but labor force shrinks

The numbers: The U.S. added a solid 428,000 new jobs in April, but an acute labor shortage showed little improvement last month and threatens to add to the highest inflation in 40 years. Employment has risen by 400,000-plus for 12 straight months and the number of people working is likely to return to pre-Covid levels […]

May 07
Corn Futures (ZL1!), H1 Potential For Bearish Continuation

Type: Bearish ContinuationKey Levels:Resistance: 794’0Pivot: 790’0Support: 783’4Preferred Case:With price expected to reverse off the resistance of the Ichimoku cloud, we see a potential bearish continuation from our pivot level which is in line with 23.6% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of in line with the horizontal swing low support […]

May 07
ETHUSD, H4 | Potential Bullish Continuation

Type: Bullish BounceKey Levels:Resistance: 2859.57Pivot: 2721.94Support: 2652.04Preferred Case:On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 2859.57 where the 61.8% Fibonacci retracement is from our pivot of 2721.94 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price […]

May 07
Bank of America says robust credit card spending signals consumer strength

Bank of America Corp. BAC, -0.24% said Thursday its 67 million consumer and small business clients hiked their aggregate credit and debit card spending by 13% in April. David Tinsley, senior economist for the Bank of America Institute, said the data “continues to paint a healthy picture of the U.S. consumer.” Credit card spending rose […]

May 07
Wells Fargo unveils program to hire spouses of people serving in the military

Wells Fargo & Co. said it’s kicking off a new program to hire 100 spouses per year of people actively serving in the military over the next five years. The move coincides with Military Spouse Appreciation Day on Friday. Wells Fargo said Thursday it’ll offer mid- to high-level remote, hybrid, and in-office career opportunities with […]

May 07
U.S. stocks open lower, extending Thursday

U.S. stocks opened lower on Friday, extending Thursday’s selloff which saw the Dow Jones Industrial Average and Nasdaq Composite Index book their worst daily drops since 2020. Data released on Friday showed that the U.S. added a solid 428,000 new jobs in April, but an acute labor shortage showed little improvement last month and threatens […]

May 07
Soybeans Futures ( ZS1! ), H1 Bullish Rise!

Type: Bullish RiseKey Levels:Resistance:1642’2Pivot: 1633’0Support: 1610’6Preferred Case:With price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance in line with the 38.2% Fibonacci retracement from our pivot in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for […]

May 07
Wheat Futures ( ZW1! ), H1 Potential For Bearish Continuation

Type: Bearish ContinuationKey Levels:Resistance: 11122’2Pivot: 1105’2Support: 1080’4Preferred Case:With the MACD indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 50% Fibonacci retracement and horizontal pullback support from our pivot of 1105’2 in line with the 23.6% Fibonacci retracement and the horizontal overlap support.Alternative […]

May 07
‘Someone is blowing up’ — Bitcoin sees 2022 volume record amid hopes capitulation is over

Bitcoin (BTC) dipping below $36,000 “smells like capitulation,” one trader says as suspicion mounts over United States stock markets. In a tweet on May 6, Cointelegraph contributor Michaël van de Poppe suggested that the BTC price was at least giving “serious signals.” Analyst: Stocks saw “forced liquidation” After plunging to 10-week lows in line with equities […]