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The Biden administration is watching the stock market SPX, -1.72% and other indicators closely as equities tumbled on Friday, a White House spokeswoman said. “The stock market, as you’ve heard us say many times, is just one measure of the economy,” said press secretary Karine Jean-Pierre. “We are watching, always watching, these different indicators closely, […]
The Dow Jones Industrial Average’s DJIA, -1.89% 767-point tumble in afternoon trading Friday, to break down below the June 17 closing low (29,888.78), not only showed that the bear market was alive and kicking, it also triggered a sell signal based on the century-old Dow Theory of market analysis. The Dow’s fresh low, coupled with […]
Oil futures declined Friday, with U.S. prices dropping below $80 a barrel to settle at their lowest since January. “Economic turmoil is putting oil on track for its first quarterly loss in two years as the market focuses on the potential coming recession inspired by aggressive Federal Reserve policy, and is not focused currently on […]
Shares of Coinbase Global Inc. COIN, -1.89% slumped 4.2% toward a two-month low in afternoon trading Friday, after both an equity analyst and credit analyst trimmed their outlooks on the cryptocurrency wallet provider, with both analysts citing downbeat outlooks for the cryptocurrency market. J.P. Morgan analyst Kenneth Worthington reiterated his neutral rating on the stock […]
• WTI broke key support 81.25 • Likely to fall to support level 75.00 WTI crude oil falling after the price broke the key support level 81.25 (which previously formed the daily Hammer in January and also the daily Morning Star at the start of September). The breakout of the support level 81.25 coincided with […]
• GBPUSD under strong bearish pressure • Likely to fall to support level 1.0800 GBPUSD under the strong bearish pressure after the pair broke the key support level 1.1400 (which stopped the previous downward impulse wave (iii) at the start of September). The breakout of the support level 1.1400 led to the latest breakout of […]