Dow bounces more than 200 points as U.S. stocks open higher after report on durable goods orders
U.S. stocks opened higher on Monday, with the Dow Jones Industrial Average (DJIA) gaining over 200 points, as investors reacted to the latest report on durable goods orders. The DJIA was up 0.7% shortly after the opening bell, the S&P 500 (SPX) rose 0.8%, and the Nasdaq Composite (COMP) gained 1.1%, according to FactSet data. […]
The stage appears set for further USD upside in the week ahead – MUFG
The US Dollar Index (DXY) made a strong comeback at the end of last week, climbing back above the 105.00 level. This has been a positive development for the greenback, and economists at MUFG Bank believe there is still room for the USD to continue its rebound in the near-term. The DXY has been on […]
Cardano (ADA) Price Had a Bad February, but Here’s Why March Will Be Even Worse
The Cardano (ADA) price has been on a downward trajectory since reaching an all-time high of $3.160 on August 30th. After failing to move above the long-term resistance area at an average price of $0.400, the price has been steadily decreasing and reached a low of $0.239 in December. The weekly Relative Strength Index (RSI) […]
Twitter lays off another 200 people, reducing headcount to less than 2,000 vs. 7,500 when Elon Musk took it over in October
Twitter, the popular social media platform, has seen a significant downsizing of its workforce in recent months. On Saturday night, the New York Times reported that the company had laid off another 200 employees, bringing the total number of people employed by Twitter down to just 2,000 – a decrease of almost 7,500 since October, […]
Brazil Inflation Index/IGP-M came in at -0.06%, below expectations (0.05%) in February
Brazil’s Inflation Index/IGP-M came in at -0.06% in February, lower than expected. This figure was below the 0.05% forecasted by economists and financial experts. The IGP-M is a price index used to monitor inflation in Brazil. It measures the cost of goods and services in the country and is used to determine changes in the […]
H&M shares climb after retailer double-upgraded by Bank of America
Shares of H&M (HM.B) rose 4% to 129.96 kroner on the day after Bank of America double-upgraded the retailer to buy from underperform and lifted its price target to 165 kroner from 90 kroner. This was a result of the bank’s belief that earnings are not only bottoming, but are about to rebound faster and […]
ChatGPT: New AI tech, old racism and bias?
Every time a new application of AI is announced, I feel a short-lived rush of excitement — followed soon after by a knot in my stomach. This is because I know the technology, more often than not, hasn’t been designed with equity in mind. One system, ChatGPT, has reached 100 million unique users just two […]
Conflux (CFX) up 241% on News of Massive Ecosystem Expansion: Details
Conflux (CFX) has been making headlines lately as the digital currency continues its upward trend. This growth is a testament to the token’s elasticity to positive ecosystem updates. At the time of writing, the token is trading at a price of $0.2339, up by 8.74% and 241% over the past month. Conflux was designed as […]
Crude Oil Futures: Near-term correction likely
Crude oil futures markets saw traders scale back their open interest positions for the second consecutive session on Friday, with a decrease of around 14.2K contracts. Volume followed suit and dropped by around 114.6K contracts after two consecutive daily builds. The West Texas Intermediate (WTI) added to Thursday’s gains on Friday, despite the decrease in […]
Bears In Active Below $0.385
Ripple price has been struggling to stay above the $0.385 mark against the US Dollar over the past week. The price has dropped below the $0.3850 mark and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3800 on the 4-hours chart of the XRP/USD pair. The […]