Day: October 25, 2022
Gold futures ended higher on Tuesday, buoyed by weakness in the U.S. dollar index and a pullback in Treasury yields. “Thanks to the recent weakness in bond yields and U.S. dollar, gold has been able to find some relief,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. “However, compared to the recovery we […]
Shares of cannabis companies shifted into rally mode on Tuesday after Canopy Growth Corp. CGC, +27.52% WEED, +27.46% revealed plans to create Canopy USA and issue exchangeable shares to consolidate its U.S. cannabis assets. Jefferies analyst Owen Bennett said the Canopy Growth deal “could also have positive implications for multi-state operators and paths to uplisting, […]
• USDCHF reversed from resistance level 1.0050 • Likely to fall to support level 0.992 USDCHF recently reversed down from the key multi-month resistance level 1.0050 (which has been reversing the price from May), intersecting with the upper daily Bollinger Band and the resistance trendline of the daily up channel from August. The downward reversal […]
• Natural gas reversed from support level 5.370 • Likely to rise to resistance level 6.500 Natural gas recently reversed up from the support level 5.370 (previous multi-month low from July), standing near the lower daily Bollinger Band. The upward reversal from the support level 5.370 created the daily candlesticks pattern Piercing Line, which started […]
Oil futures settled higher on Tuesday, with prices recovering what they lost a day earlier and then some. “Oil prices, in the short term, are locked in a bit of a trading range,” said Phil Flynn, senior market analyst at The Price Futures Group. “We are still in shoulder season and we’re still being influenced […]
Bitcoin (BTC) spiked above $20,000 on Oct. 25 as risk assets benefited from new U.S. dollar weakness. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin taps three-week highs Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $20,191 on Bitstamp. The move came in tandem with rising United States equities, these in […]
Steven Goldstein is based in London and responsible for MarketWatch’s coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch’s economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.
Archer Daniels Midland Co. ADM, +1.47% beat earnings and revenue expectations by a wide margin Tuesday morning, with its chief executive calling out “robust” worldwide demand. The agriculture and nutrition giant logged third-quarter net earnings of $1.03 billion, or $1.83 a share, up from $526 million, or 93 cents a share, in the year-prior period. […]
Raytheon Technologies Corp. RTX, -1.98% shares rose 0.7% in premarket trades on Tuesday after the aerospace and defense company beat its earnings target and hiked the bottom end of its range for its 2022 profit forecast, but fell short of its third-quarter revenue mark. Raytheon said its third-quarter profit dipped 1% to $1.39 billion, or […]
Shares of Coca-Cola Co. KO, +1.89% ran up 2.6% in premarket trading Tuesday, after the beverage giant beat third-quarter profit and revenue expectations, as price increases helped offset ongoing cost inflation. Net income rose to $2.83 billion, or 65 cents a share, from $2.47 billion, or 57 cents a share, in the year-ago period. Excluding […]
