Latest Market News
Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. At the moment, the market consensus is a 0.75 bps rate hike and a sliver of analysts are banking on 1%. Stocks also appear en-route to close the day in the […]
The FOMC meeting is due tomorrow and policymakers are expected to lift interest rate by 75 basis points. The odds of a larger rate hike of 100 bps are estimated at 20%. Hawkish US inflation report for August ruled out any possibility of easing the pace of tightening. The Market’s focus will also be on […]
Type: Bearish Drop Key Levels:Resistance: 8.340Pivot: 7.675Support: 7.365 Preferred Case:On the H4, price has bounced off the 127.2% extension levels forming a triple bottom. We have a bullish bias that the price may rise from the pivot at 7.675, which is in line with the 50% fibonacci retracement to 1st resistance at 8.340, where the […]
Beyond Meat Inc. BYND, -6.04% said late Tuesday it had suspended Chief Operating Officer Doug Ramsey, after he was arrested over the weekend. Jonathan Nelson, senior vice president of manufacturing operations, will oversee operations activities on an interim basis, the company said. Ramsey on Saturday was arrested and charged with “terroristic” threats and third-degree battery […]
In the run-up to Wednesday’s policy announcement by the Federal Reserve, SEI, an overseer of $1.3 trillion in assets, sees a likelihood that the central bank’s hiking cycle will end at a level that leaves interest rates twice as high as they are now. The Oaks, Pennsylvania-based firm sees a “reasonable base case” that the […]
U.S. stocks are paring their losses as the final hour of trading begins on Tuesday, although the Dow Jones Industrial Average remained down more than 400 points on the day. The blue-chip gauge DJIA, -1.01% was off 413 points, or 1.3%, at 30,615, leaving it within 1,000 points of its 52-week low from mid-June. The […]