The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX.
Archiv für den Monat: November 2022
Stocks making the biggest moves premarket: Hormel, Petco, CrowdStrike and more
These are the stocks posting the largest moves before the bell.
Peter Thiel’s VC fund backs TreeCard, a fintech that plants trees when you spend
The deal underscores increased interest from VC investors in companies addressing climate change.
‚Wild ride‘: Morgan Stanley’s Mike Wilson predicts double-digit percentage drop will hit stocks in early 2023
Morgan Stanley top U.S. strategist Mike Wilson believes investors are on the doorstep of a deep pullback due to an acceleration of downward earnings revisions.
Stocks making the biggest moves after hours: Workday, CrowdStrike, Horizon Therapeutics and more
These are the stocks posting the largest moves in after hours trading.
CrowdStrike shares tumble on weaker-than-expected growth in new revenue
CrowdStrike shares dropped after the cybersecurity company said annual recurring revenue was below expectations in part because of „macroeconomic headwinds.“
US MBA mortgage applications w.e. 25 November -0.8% vs +2.2% prior
<ul><li>Prior +2.2%</li><li>Market index 208.1 vs 209.8 prior</li><li>Purchase index 181.0 vs 174.4 prior</li><li>Refinance index 325.5 vs 373.6 prior</li><li>30-year mortgage rate 6.49% vs 6.67% prior</li></ul><p style=““ class=“text-align-justify“>Mortgage activity declined in the past week but it was a bit of a mixed report with purchases recovering slightly while refinance activity falling sharply. That comes despite another big drop in the average rate of the most popular US home loan, down 18 bps to 6.49%.</p>
This article was written by Justin Low at forexlive.com.
Global growth set to slow to below 2% next year – Citi
<p style=““ class=“text-align-justify“>Here are some snippets from the latest on the global economy from Citi:</p><ul><li>Global growth to slow to below 2% in 2023</li><li>Sees Fed terminal rate between 5.25% to 5.50%</li><li>Sees 2023 US headline inflation at 4.8%</li><li>Sees US GDP growth of 0.7% next year, China GDP growth of 5.6%</li></ul><p style=““ class=“text-align-justify“>The firm adds that „we see global performance as likely plagued by ‚rolling‘ country-level recessions through the year ahead“, with their forecasts projecting the UK and Eurozone economies to contract by 1.5% and 0.4% respectively in 2023.</p><p style=““ class=“text-align-justify“>As for the slower growth outlook, the firm is citing continued challenges from the pandemic and the Russia-Ukraine conflict, which has led to surging inflation and aggressive policy tightening by major central banks in response.</p>
This article was written by Justin Low at forexlive.com.
Eurozone November preliminary CPI +10.0% vs +10.4% y/y expected
<ul><li>Prior +10.6%</li><li>Core CPI +5.0% vs +5.0% y/y expected</li><li>Prior +5.0%</li></ul><p style=““ class=“text-align-justify“>The headline reading may be softer than expected but notice that the core reading remains unchanged from October, holding at a record high. As mentioned <a target=“_blank“ href=“https://www.forexlive.com/news/heres-a-slight-splotch-to-the-softer-spanish-inflation-report-20221129/“ target=“_blank“ rel=“follow“>here</a> yesterday, the softer price pressures are largely to do with a drop in energy costs but we are seeing higher prices be embedded in other areas of the economy and that is reflected by the core reading.</p>
This article was written by Justin Low at forexlive.com.
Beijing says community Covid testing can be dropped for people who have no need to go out
<p style=““ class=“text-align-justify“>It doesn’t mean an end to the stringent measures but at least the people are being given alternatives now, rather than be forced to endure community testing regardless. These little steps will add up eventually, in a slow progression towards the re-opening in China.</p>
This article was written by Justin Low at forexlive.com.