The major averages ended Wednesday’s session mixed, with the S&P 500 closing near the flatline. Here’s what CNBC is watching going into Thursday.
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Acurx Pharmaceuticals to add up to $1 million in bitcoin for treasury reserve, following MicroStrategy’s playbook
The board of Acurx Pharmaceuticals has approved the purchase of up to $1 million in bitcoin to hold as a treasury reserve asset.
Baidu posts 3% drop in third-quarter revenues, beating market expectations
Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app.
Nvidia’s earnings cleared our lofty bar. Here’s our new price target on the AI chip king
Don’t be fooled by the sellers: Nvidia’s future is as healthy as ever.
Palo Alto Networks beat and raise fails to wow Wall Street. But that plays into our hand
Don’t sweat the drop in Palo Alto Networks stock.
We’re changing our price target on TJX despite the retailer’s light guidance
The company’s outlook was not overly concerning given its proclivity to under-promise and over-deliver.
Snowflake shares pop 19% on earnings and revenue beat
Snowflake reported better-than-expected results on the top and bottom lines.
Nvidia nearly doubles revenue on strong AI demand
Nvidia reported earnings after the bell. Here are the results.
Zelensky says Russia used new missile in attack on Ukraine today
The missile was reportedly fired from Astrakhan and targeted critical infrastructure in the central Ukrainian city of Dnipro. The city was also hit by other strikes involving several cruise missiles and a medium range ballistic missile.
Going back to the ICBM, it would be the first that such a long range weapon has been used in the conflict between the two countries. So far, Moscow has just said that they have „nothing to say on this topic“.
The ongoing tensions here have added something extra to the flows in markets this week. There were some safety bids earlier in the week but if anything else, it is at least propping up oil prices again. WTI crude is seen up 2% today to touch $70 again.
This article was written by Justin Low at www.forexlive.com.
GBPUSD Technical Analysis – Waiting for a breakout
Fundamental
Overview
Overview
The US Dollar continues to
consolidate despite the higher-than-expected inflation figures and a less
dovish Powell last week. The market’s pricing remained largely unchanged at
three rate cuts by the end of 2025.
This is generally a signal
that the market is fine with the current pricing, and we would need stronger
reasons to price out the remaining rate cuts. This could lead to some general
US Dollar weakness in the short term.
On the GBP side, this week
we got the UK CPI report with the data coming in higher than
expected. This saw the market strengthening the chances of no change at the
December BoE meeting but overall the pricing remained unchanged around 67 bps
of easing by the end of 2025.
GBPUSD
Technical Analysis – Daily Timeframe
On the daily chart, we can
see that GBPUSD continues to consolidate near the major upward trendline. This is where the buyers are
stepping in with a defined risk below the trendline to position for a rally
into new highs. The sellers, on the other hand, will want to see the price
breaking lower to increase the bearish bets into new lows.
GBPUSD Technical
Analysis – 4 hour Timeframe
On the 4 hour chart, we can
see that the pair looks to be bottoming out here and we might see a pullback
into the major downward trendline. The buyers will want to see the price
breaking above the 1.27 handle to gain more conviction, while the sellers will
likely lean on that level to target the break below the upward trendline.
GBPUSD Technical
Analysis – 1 hour Timeframe
On the 1 hour chart, we can
see that the price action has been mostly rangebound since last Thursday as
that’s when the bullish momentum in the US Dollar stalled. There’s not much we
can add here as the buyers will look for a break above the 1.27 handle, while
the sellers will target a break below the trendline. The red lines define the average daily range for today.
Upcoming
Catalysts
Today we get the latest US Jobless Claims figures, while tomorrow we conclude
the week with the UK and the US PMIs.
This article was written by Giuseppe Dellamotta at www.forexlive.com.