Oil futures settle lower after back-to-back session gains
Oil prices dropped on Monday after two consecutive sessions of gains. Manish Raj, managing director at Velandera Energy Partners, attributed the fall in oil prices to stubborn inflation data and the fear of a hawkish Federal Reserve. This further complicated the already difficult oil trade, due to the presence of excess inventory. The West Texas […]
Bulls on the sidelines in anticipation of a discount
The EUR/USD currency pair has been on a rollercoaster ride in recent weeks, with the price coming up from the lows in a sharp correction at the start of the week. Currently, the focus is on a continuation of the trend, with 1.0700 eyed on a break of 1.0650 and 1.0670. The price has found […]
Hammerhead Energy stock more than doubles on equity markets debut
Hammerhead Energy Inc. (HHRS) stock skyrocketed on Monday, with a 67.63% surge in share prices, as the Canadian exploration and production company made its debut on the Nasdaq (COMP, +0.95%) and Toronto Stock Exchange. The surge in share prices came after Hammerhead merged with a blank-check company last week. Hammerhead is developing 107,000 net acres […]
Snapchat is adding OpenAI chatbot capabilities for the new My AI feature
In recent times, it seems like every day another tech company is joining the rest of the internet in welcoming AI into their ranks. On Monday, Snapchat announced its launch of My AI, a chatbot powered by OpenAI’s GPT technology, which will be available to $3.99 a month Snapchat Plus subscribers on an experimental basis. […]
Crypto’s correlation with macro events, US equity markets is weakening, Bernstein says
Cryptocurrency prices have been trading in a similar range as the correlation between them and U.S. equities and macro events weakens, according to Bernstein analysts. Bitcoin (BTC) was trading at $23,800, by 10 a.m. EST, according to TradingView data, while Ethereum (ETH) was lower by 2.3% at $1,600. The crypto market appears to be stuck […]
Lower inflation without unecessary amount of disruption in job market possible
On Monday, Federal Reserve Governor Philip Jefferson said that it is possible for inflation to decline without an unnecessary amount of disruption in the job market, as reported by Reuters. He also added that more people do better in the US when there are periods of low inflation and sustained growth, and that it is […]
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, […]