Tag Archives: Story of the Day

The UK Chancellor of the Exchequer Jeremy Hunt is optimistic that inflation would ease. UK inflation came in for September at 6.7%, higher than expectations set by analysts. Also, inflation in the UK remained unchanged from August. While inflation remained unaltered, the UK’s headline consumer price index (CPI) met expectations from economists polled by Reuters. The economists predicted a monthly increase of 0.5% and an annual 6.6%. For core CPI, the UK’s figure fell to 6.1%...

The US stock futures were slightly down early this morning as the third-quarter earnings season gained momentum. According to reports, futures tied to the Dow Jones Industrial Average (INDEXDJX: .DJI) lost 46 points, or 0.13%, S&P 500 Index (INDEXSP: .INX) fell 0.13%, and Nasdaq 100 futures were also down 0.12%. US Stock Futures: Monday’s Optimistic Performance During Monday’s primary trading session, the major stock averages managed to close in the green, defying expectations as...

The developments between US SEC and Grayscale over the past weekend led to whales accumulating Bitcoin in huge numbers. Over the last week, the world’s largest cryptocurrency Bitcoin (BTC) gave a strong breakout moving all the way to the $28,000 level. As of press time, the BTC price is up 3.8% trading at $27,904 with a market cap of $544 billion. The recent price rally comes as the US Securities and Exchange Commission (SEC) decided not to challenge the court ruling that allowed...

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Thursday targeting two tanker owners involved in shipping Russian oil that exceeded the established price cap.  In a recent development, oil prices saw a remarkable surge, rising by 4% earlier today, following the United States’ decision to intensify sanctions against Russian crude exports. According to reports, International benchmark Brent crude futures, set to expire in December, traded...

JPMorgan figures for Q3 2023 exceeded expectations like it did in Q2. However, figures like revenue and EPS were higher last quarter. JPMorgan Chase (NYSE: JPM) has published an earnings report for the year’s third quarter. The reported figures show that JPMorgan scaled analysts expectations for profit in Q3 2023. JPMorgan Q3 2023 JPMorgan reported earnings per share (EPS) at $4.33 for the quarter, higher than the estimated $3.86. The bank also said its profit jumped to $13.15 billion,...

Data released by the Labor Department show that CPI for September increased higher than expected, with several prices up from August. According to figures published by the Labor Department, the prices of goods and services increased quicker than expected in September. The consumer price index (CPI) rose 0.4% in September and 3.7% compared with the same period last year. This was higher than expected, as Dow Jones estimated increases of 0.3% and 3.6%, respectively. September CPI Report...

Following the attack by Hamas on Israel on October 7, traders initially priced in a $3 to $4 risk premium when oil markets opened. The International Energy Agency (IEA), known as the world’s leading energy regulator, has recently warned that the global energy market is likely to remain volatile as the war between Israel and Hamas persists. The IEA Warning on Energy Market According to a CNBC report, the IEA stated in its latest monthly oil market release that, while the conflict has not...

The announcement of this landmark deal follows a recent report which hinted at the two companies’ progress toward an agreement. Since that report, Pioneer shares have surged by over 10%. ExxonMobil Corp (NYSE: XOM) has announced its agreement to acquire shale rival Pioneer Natural Resources Co (NYSE: PXD) for a staggering $59.5 billion in an all-stock transaction, equivalent to $253 per share. The deal has captured the attention of the financial industry and is set to significantly...

Treasury yields fell in the US as the war between Israel and Hamas rages on, with several thousand dead and wounded. Treasury yields fell in the US on Tuesday as investors consider the economic and geopolitical effects of the ongoing war between Israel and Palestinian militant movement Hamas. Early Tuesday morning, the 10-year Treasury fell over 12 basis points to 4.6571%. The 2-year Treasury yield also fell, hitting 4.9843% after losing nine basis points. Economists and investors are...

Despite the selling pressure, Bitcoin has outperformed the broader crypto market with its market share crossing over 50%. Bitcoin and the broader cryptocurrency market have come under selling pressure amid rising geopolitical uncertainties and a recent war eruption between Israel and Palestine. The developments led to more than $100 million in bull call liquidations in futures positions. Also, the broader cryptocurrency market slid by a staggering 2%. Interestingly, in comparison to...