These are the stocks posting the largest moves before the bell.
Archiv für den Monat: August 2023
China’s EV slowdown drags down Nvidia’s ’next billion-dollar business‘
Chipmaker Nvidia this week soundly beat analysts‘ expectations for major revenue lines — except in automotive — as Chinese demand for electric cars moderates.
Powell’s pivotal speech Friday could see a marked shift from what he’s done in the past
Many expect the central bank leader to change his stance so that he hits the ball pretty much down the middle.
Stocks making the biggest moves after hours: Affirm, Gap, Marvell and more
These are the stocks posting the largest moves in extended trading on Thursday.
31% of investors are OK with using artificial intelligence as their advisor
Nearly 1 in 3 investors are comfortable implementing financial advice from a generative AI program without verifying it first, a CFP Board poll found.
Shares of China’s food delivery leader Meituan fall more than 5% on weaker Q3 outlook
Meituan shares fell 5% Friday after CEO Wang Xing warned of a food delivery slowdown in the third quarter during the firm’s latest earnings call on Thursday.
Gap reports another period of declining sales across all brands, warns of ‚uncertain consumer‘
Gap reported mixed results on Thursday and underwhelming current-quarter guidance.
Nordstrom tops Wall Street’s quarterly expectations, even as it braces for sales declines
The department store retailer stuck by its forecast for the full year, despite better-than-expected results.
Dollar Tree’s shares sink 13%, as CEO says ‚challenging‘ economy is pressuring discounter
Dollar Tree raised its sales outlook for the year but narrowed its earnings guidance.
ForexLive European FX news wrap: Tentative mood as stocks keep steady for now, Powell eyed
Headlines:
- Equities hold steadier on the day, at least for now..
- A look at the Fed pricing ahead of Jackson Hole later today
- ICYMI: The agenda for the Jackson Hole symposium
- Germany August Ifo business climate index 85.7 vs 86.7 expected
- Germany Q2 final GDP 0.0% vs 0.0% q/q prelim
- China reportedly plans to cut stamp duty on stock trading in bid to recover sentiment
- BOJ to keep policy as it is until at least July 2024 – poll
Markets:
- USD mixed
- European equities higher; S&P 500 futures up 0.2%
- US 10-year yields up 1 bps to 4.245%
- Gold down 0.1% to $1,916.18
- WTI crude up 1.2% to $80.02
- Bitcoin up 0.3% to $26,092
It was a quiet session in terms of headlines as markets are waiting on the Jackson Hole symposium or more specifically Fed chair Powell’s speech later. Personally, I don’t expect anything new from Powell but it has been a while since he last spoke and markets are hoping for something to work with.
Equities are keeping steadier on the day but as has been the case in the past two weeks, the heavy selling tends to only hit in US trading. So, watch out for now. I wouldn’t look much into the slight gains today unless Wall Street follows up on that.
The dollar was slightly higher earlier on but has seen gains pared during the session. EUR/USD looked to keep with the downside break in a push to 1.0770 but is now being rechecked back at 1.0800. Similarly, GBP/USD touched a low of 1.2560 but has reversed higher to 1.2610 for now at least.
All eyes will be on equities sentiment once again and if we do see another ugly session ahead, that should keep the dollar underpinned.
I wish you all a pleasant Friday and a wonderful weekend ahead!
This article was written by Justin Low at www.forexlive.com.