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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6870.39
6870.39
6870.39
6895.79
6858.28
+13.27
+ 0.19%
--
DJI
Dow Jones Industrial Average
47954.98
47954.98
47954.98
48133.54
47871.51
+104.05
+ 0.22%
--
IXIC
NASDAQ Composite Index
23578.12
23578.12
23578.12
23680.03
23506.00
+72.99
+ 0.31%
--
USDX
US Dollar Index
98.930
99.010
98.930
98.960
98.730
-0.020
-0.02%
--
EURUSD
Euro / US Dollar
1.16471
1.16478
1.16471
1.16717
1.16341
+0.00045
+ 0.04%
--
GBPUSD
Pound Sterling / US Dollar
1.33196
1.33204
1.33196
1.33462
1.33136
-0.00116
-0.09%
--
XAUUSD
Gold / US Dollar
4199.68
4200.11
4199.68
4218.85
4190.61
+1.77
+ 0.04%
--
WTI
Light Sweet Crude Oil
59.292
59.322
59.292
60.084
58.980
-0.517
-0.86%
--

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Chinese Foreign Minister Wang Yi: Hopes Germany Will View China More Objectively And Rationally, Adhere To The Positioning Of China-Germany Partnership

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China Foreign Ministry: China's Foreign Minister Wang Yi Meets German Counterpart

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Yemen's Stc Now Present In All Areas Of South Yemen, Offical

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Israeli Government Spokesperson: Netanyahu Will Meet Trump On December 29

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Stc Did Not Ask Internationally-Government To Leave Aden - Senior Stc Official To Reuters

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Members Of Internationally-Recognised Government, Opposed To Northern Houthis, Have Left Aden - Senior Stc Official To Reuters

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Yemen's Southern Separatist Group Stc Is Now Present In All Governorates Of South Yemen, Including The Southern City Of Aden - Senior Stc Official To Reuters

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[Trump: Single Rule Executive Order For AI To Be Issued This Week] US President Trump Stated That If We Are To Continue To Lead In Artificial Intelligence, There Must Be Only One Rulebook. So Far, We Have Beaten All The Countries In This Race, But If In The Future 50 States Are Involved In Setting The Rules And Approval Processes, And Many Of Those States Are Likely To Violate Those Rules, This Advantage Will Quickly Disappear. There Is No Doubt About That! Artificial Intelligence Will Be Destroyed In Its Infancy! I Will Issue A "single Rule" Executive Order This Week. You Can't Expect A Company To Get Approval From 50 States Every Time It Wants To Do Something. That Will Never Work!

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Two Iraq Energy Officials: Iraq Shuts Down Entire West Qurna 2 Production Of Around 460000 Barrels/Day Due To Export Pipeline Leak

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Petroleum Ministry: Egypt Exports LNG Shipment To Turkey Chartered By Shell

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White House Economic Adviser Hassett: Trump Will Release A Lot Of Positive Economic News

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Ukraine President Zelenskiy: We Can't Manage Without Europeans, We Can't Manage Without The Americans, That's Why We Have Some Important Decisions To Make

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White House Economic Adviser Hassett On Netflix, Wbd: In The End Justice Department Will Study Impact For Quite A While

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White House Economic Adviser Hassett On Trump's Ai 'One Rule': Order Should Help Ai Companies Understand What The Rules Are

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German Chancellor Merz: Sceptical About Some Of The Details In Documents Coming From The United States

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White House Economic Adviser Hassett On Aca Subsidies: There Is Room For Negotiation

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French President Macron: Russia Economy Is Starting To Suffer After Latest Sanctions

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Ukraine President Zelenskiy: Unity Between Europe, Ukraine And Unites States Is Important

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UK Labour Party Leader Starmer: Matters For Ukraine Are For Ukraine

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China's Commerce Minister: China Has Already Implemented Export License Exemptions For Nexperia Chips

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          SOL/ETH Price Analysis July 2024

          Glendon

          Economic

          Summary:

          Discover why Solana (SOL) has surged 35% compared to Ethereum's (ETH) 25% gain this week. Explore key factors driving this trend, including ETF applications, macroeconomic influences, and technical breakouts. Dive into our detailed SOL/ETH price analysis and future outlook.

          This week has seen significant movements in the cryptocurrency market, with Solana (SOL) notably outperforming Ethereum (ETH) in terms of price appreciation. Let's dive into a comprehensive analysis of the SOL/ETH pair and explore the factors driving this trend.

          Market Overview

          Solana's price has surged to $159.44, marking a substantial 35% increase over the past 12 days. In contrast, Ethereum has seen a more modest gain of 25% during the same period. This divergence in performance has caught the attention of traders and analysts alike, prompting a closer look at the factors influencing these two prominent cryptocurrencies.

          Solana's Bullish Momentum

          Solana's impressive rally can be attributed to several key factors:
          ETF Applications: The recent applications for spot SOL ETFs by 3iQ Capital in Canada and VanEck in the USA have sparked investor interest and contributed to the initial leg of Solana's market rally.
          Macroeconomic Factors: Dovish Non-Farm Payrolls and Consumer Price Index (CPI) data released by US authorities have created a favorable environment for risk assets, including cryptocurrencies.
          Derivatives Market Activity: The open interest in Solana derivatives has crossed the $2 billion mark, indicating strong bullish sentiment and increased trader participation.
          Technical Breakout: Solana has successfully broken through key resistance levels, including the $154.82 mark, which corresponds to the 0.236 Fibonacci retracement level.

          Ethereum's Performance

          While Ethereum has also experienced growth, its gains have been less pronounced compared to Solana. The upcoming launch of ETH spot ETFs on July 23 has generated significant media coverage and investor anticipation. However, this has not translated into the same level of price appreciation as seen with Solana.

          SOL/ETH Ratio Analysis

          The outperformance of Solana relative to Ethereum is clearly reflected in the SOL/ETH ratio. Over the past two weeks, Solana has outpaced Ethereum by nearly 10%. This shift in relative strength could indicate a changing market perception of the two assets or a temporary rotation of capital.

          Technical Analysis

          Looking at the technical indicators for Solana:
          The Relative Strength Index (RSI) is currently at 60.01, suggesting room for further upward movement before reaching overbought territory.
          The next significant resistance level for SOL is the psychological $180 mark.
          Strong support has formed around $140, with a more robust support level at $101.46, aligning with the 0.786 Fibonacci retracement level.
          For Ethereum, while specific technical levels weren't provided in the search results, it's important to monitor key support and resistance levels as the ETH spot ETF launch approaches.

          Market Sentiment and Speculation

          The cryptocurrency market is currently experiencing increased volatility, which is expected to continue into August. This volatility is partly driven by movements in the broader tech sector, as evidenced by recent fluctuations in stocks like Nvidia.
          Speculation around the impact of Ethereum ETFs on Solana's price is also a factor to consider. Some market participants believe that the listing of Ethereum ETFs could indirectly benefit Solana, potentially driving further price appreciation.

          Future Outlook

          While the current trend favors Solana, it's essential to approach price predictions with caution. Cryptocurrency markets are known for their volatility and can be influenced by a wide range of factors.
          For Solana, if the bullish momentum persists, the next target is set at $180. However, investors should be prepared for potential profit-taking at this psychological level.
          Ethereum's performance in the coming weeks will likely be heavily influenced by the launch of spot ETFs and their reception in the market.

          Conclusion

          The SOL/ETH price analysis this week reveals a clear outperformance by Solana, driven by a combination of internal developments, market sentiment, and macroeconomic factors. While both assets have shown growth, Solana's 35% increase compared to Ethereum's 25% gain highlights the current market preference.
          As always, investors should conduct thorough research and consider their risk tolerance before making investment decisions. The cryptocurrency market remains highly dynamic, and while current trends favor Solana, the landscape can shift rapidly.
          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          IMF boosts China's Growth Outlook To 5 Percent for Year

          Thomas

          Economic

          The International Monetary Fund (IMF) raised its forecasts for China's economic growth to 5 percent this year and 4.5 percent next year, according to its July 2024 World Economic Outlook (WEO) Update released on Tuesday.
          The report projected global economic growth to remain at 3.2 percent, the same as the April forecast.
          Pierre-Olivier Gourinchas, the IMF's chief economist, said at a news briefing that the forecast for China had risen from 4.6 percent for 2024 and 4.1 percent for 2025 compared with the April outlook.
          "And this revision was in part based on stronger consumption numbers in the first quarter of the year, stronger exports also, and that led us to that revision," he said.
          "One of the reasons is that we expect that the new program, which is called trading and equipment upgrade, put in place by the Chinese authority, will help boost consumption and investment and growth at the same time," said Jean-Marc Natal, who is the deputy chief of the World Economic Studies Division in the IMF's Research Department."We have been recommending a shift towards consumption in the last few years, and this is one step in the right direction," he told reporters at the news briefing.
          The China National Bureau of Statistics released its latest economic figures on Tuesday, including that China's GDP grew by 5 percent year-on-year.
          Lin Jian, China's Foreign Ministry spokesperson, said: "Judging by this scorecard, the Chinese economy did a pretty good job in the first half of 2024."Despite the rising instability and uncertainty in the global economy, China's economy withstood the pressure and played an important role as an anchor and source of strength," said Lin.
          The IMF said it still expects the world economy to grow 3.2 percent in 2024, unchanged from its previous forecast in April; It forecast growth of 3.3 percent in 2025, 0.1 percent higher than in April.
          "Global growth remains steady," said Gourinchas, estimating that China and India would account for nearly half of global growth this year. The IMF raised its growth forecast for India to 7 percent this year, mainly based on a better outlook for private consumption, especially in rural areas.
          Overall, the outlook raised the growth forecast for emerging markets and developing economies in 2024 to 4.3 percent. It also predicted that the euro area's growth is expected to increase to 0.9 percent in 2024 and 1.5 percent next year.
          "Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia," said the report.
          The IMF lowered expectations for the United States and Japan. The report said due to a "slower-than-expected start to the year", US growth in 2024 was downgraded to 2.6 percent; April's forecast was 2.7 percent. Japan's growth is expected to be 0.7 percent this year, 0.2 percent lower than projected.
          Warning that government balance sheets are weak coming out of the pandemic and then vulnerable to new shocks, Gourinchas, in a blog on the July 2024 WEO, called the US a "concerning" example, and that at full employment, it "maintains a fiscal stance that pushes its debt-to-GDP ratio steadily higher, with risks to both the domestic and global economy".
          The WEO report also warned that inflation risks have increased, with services prices holding up disinflation, which increases the prospect of interest rates staying elevated longer "in the context of escalating trade tensions and increased policy uncertainty".
          "We see an explosion in the number of trade-restrictive measures," Gourinchas said, noting that the measures include export restrictions and industrial policies, and both may lead to retaliation.
          "One concern we have is that going forward, this will weigh down on global activity," he said.
          The report also said that a resurgence of tariffs could lead to retaliation and a "costly race to the bottom".
          "So, let's remember that when we look at the assessment of, for instance, the previous rounds of tariffs that have been imposed by countries, very often the cost assessment finds that it's the country that imposes the tariffs that bear the cost of these tariffs," he said. "And so, it hurts the domestic economy, and it also inflicts spillovers to other countries as well."

          Source: China Daily

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          New Zealand Dollar Trades Higher on Non-tradeables Inflation Surprise

          Warren Takunda

          Economic

          New Zealand's headline inflation rate fell to 3.3% year-on-year in the second quarter from 4.0% in the first quarter, according to Statistics New Zealand.
          This outturn will be welcomed by the RBNZ, where forecasts showed an expectation for inflation to slow to 3.6%. So far, so good: such an outcome would typically be consistent with a weaker New Zealand Dollar as markets would typically bet that it opens the door to imminent interest rate cuts.
          However, as we are seeing with the Pound's reaction to its own inflation release, the finer details of the report matter. The domestic element of New Zealand inflation - the non-tradeables basket - increased by 0.9% q/q, lifting the annual rate to 5.4% in Q2. The RBNZ expected it to slow by more, to 5.3%.
          Non-tradeables includes inflation in consumer-facing businesses, such as restaurants and hotels. As is the case in the UK, inflation in the services sector is proving difficult to quell. Its ongoing strength signals the RBNZ might have to keep interest rates higher for longer.
          The New Zealand Dollar is higher against the majority of its G10 peers as investors think the country will continue to command the highest interest rates for longer. Even the strengthening Pound is at a loss on the day, with GBP/NZD down a quarter of a per cent at 2.1384. "The New Zealand Dollar has strengthened following the release of the release of the latest CPI report from New Zealand," says Lee Hardman, FX analyst at MUFG Bank Ltd.
          New Zealand Dollar Trades Higher on Non-tradeables Inflation Surprise_1

          Above: Inflation in the services sector is proving stubborn. Image courtesy of ANZ.

          NZD/USD is higher by three-quarters of a per cent at 0.6092, the EUR/NZD is down 0.30% at 1.7963.
          "New Zealand rate market participants are less confident over how quickly the RBNZ will begin to cut rates as they believe that the RBNZ will place more weight on domestic price pressures which appear to be slowing less quickly than expected," says Hardman.
          Markets show investors are now poised at 50/50 odds that the RBNZ cuts interest rates in August.
          Yet, the RBNZ might have to look through the non-tradeables inflation component as the Kiwi economy continues to struggle under the weight of high interest rates and incoming survey data shows it risks falling back into recession.
          Governor Orr and his team might opt to take the positives from the ongoing progress in headline inflation towards the 2.0% target and proceed with a cut as soon as next month, judging that the risks of scarring to the economy from elevated rates are growing.
          If this is the case, the NZ Dollar will find its post-inflation bump short-lived.

          Source: Poundsterlinglive

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          FintechZoom's Best Stocks to Invest in 2024: Top Picks for Growth

          Glendon

          Economic

          Investing in stocks can be a lucrative way to grow your wealth, but it requires careful research and strategic planning. As we move into 2024, identifying the best stocks to invest in is more crucial than ever. FintechZoom, a leading platform for financial news and analysis, offers valuable insights into the top stock picks for the year. This article explores FintechZoom's recommendations, detailing the reasons behind each pick and the potential for growth. Additionally, we'll incorporate insights from FastBull to provide a well-rounded perspective.

          Criteria for Selection

          FintechZoom evaluates stocks based on several key criteria:

          Financial Performance:

          Strong revenue and earnings growth.

          Market Position:

          Dominance or competitive edge in their respective industries.

          Innovation and Growth Potential:

          Ability to innovate and capture new market opportunities.

          Valuation:

          Reasonable pricing relative to earnings and growth prospects.

          Dividends:

          For income-focused investors, reliable dividend payments are a plus.

          Top Stocks to Invest in 2024

          Here are FintechZoom's top stock picks for 2024, across various sectors:

          Apple Inc. (NASDAQ: AAPL)

          Why Invest:

          Strong Financials: Apple continues to report robust revenue and profit growth.
          Innovation: With continuous advancements in technology, including the expansion of its services segment and potential breakthroughs in AR/VR, Apple remains a leader in innovation.
          Ecosystem: Apple’s ecosystem of products and services fosters customer loyalty and recurring revenue streams.
          Dividends: Consistent dividend payments and share buybacks enhance shareholder value.

          Microsoft Corporation (NASDAQ: MSFT)

          Why Invest:

          Cloud Growth: Microsoft Azure remains a top player in the cloud computing market, driving significant revenue growth.
          Diverse Portfolio: From enterprise software to gaming (via Xbox) and professional networking (LinkedIn), Microsoft’s diverse product range shields it from market volatility.
          Strong Financials: Consistently strong earnings and revenue growth.

          Tesla, Inc. (NASDAQ: TSLA)

          Why Invest:

          Electric Vehicle (EV) Leader: Tesla’s dominance in the EV market is expected to continue as demand for sustainable transportation grows.
          Innovation: Constant innovation in battery technology and autonomous driving.
          Expansion: Global expansion, particularly in markets like China, provides significant growth potential.
          NVIDIA Corporation (NASDAQ: NVDA)

          Why Invest:

          AI and Graphics Processing: NVIDIA is a leader in graphics processing units (GPUs) and AI technology, critical areas for future tech developments.
          Data Centers: Growing demand for data center technology boosts NVIDIA’s growth prospects.
          Financial Performance: Strong revenue and earnings growth, driven by demand in gaming, AI, and data centers.

          Amazon.com, Inc. (NASDAQ: AMZN)

          Why Invest:

          E-commerce Dominance: Amazon continues to dominate the e-commerce space.
          AWS Growth: Amazon Web Services (AWS) remains a leader in cloud computing, contributing significantly to the company’s revenue.
          Expansion: Ongoing expansion into new areas, including healthcare and logistics.

          Alphabet Inc. (NASDAQ: GOOGL)

          Why Invest:

          Ad Revenue: Strong advertising revenue from Google Search and YouTube.
          Cloud Services: Google Cloud is gaining market share, contributing to overall growth.
          Innovation: Continued investment in AI and other emerging technologies.

          Johnson & Johnson (NYSE: JNJ)

          Why Invest:

          Healthcare Leader: A diversified healthcare giant with a strong portfolio in pharmaceuticals, medical devices, and consumer health products.
          Dividends: Reliable dividend payments make it attractive for income-focused investors.
          Research and Development: Continuous investment in R&D drives long-term growth.

          Procter & Gamble Co. (NYSE: PG)

          Why Invest:

          Consumer Goods Giant: A leader in consumer goods with a portfolio of trusted brands.
          Stable Revenue: Consistent revenue growth and strong market presence.
          Dividends: A history of reliable dividend payments.

          Visa Inc. (NYSE: V)

          Why Invest:

          Payment Processing Leader: Visa is a global leader in payment processing, benefiting from the shift towards digital payments.
          Financial Performance: Strong revenue and earnings growth.
          Expansion: Ongoing expansion into new markets and technologies.

          Pfizer Inc. (NYSE: PFE)

          Why Invest:

          Pharmaceutical Leader: A leader in pharmaceuticals, particularly noted for its COVID-19 vaccine.
          Pipeline: A strong pipeline of new drugs and treatments.
          Dividends: Consistent dividend payments.

          FastBull's Insights

          FastBull, a respected platform for financial analysis, provides additional insights into these stock picks:

          Strategic Fit

          FastBull notes that FintechZoom's picks align well with current market trends, particularly the emphasis on technology and healthcare sectors, which are poised for continued growth.

          Valuation Concerns

          FastBull highlights the importance of monitoring valuations, especially for high-growth stocks like Tesla and NVIDIA, to avoid overpaying in a potentially volatile market.

          Risk Management

          FastBull advises investors to consider diversification and risk management strategies, given the uncertainties in the global economy.

          Conclusion: Making Informed Investment Decisions

          Investing in the stock market requires thorough research and strategic planning. FintechZoom’s recommendations for the best stocks to invest in 2024 provide a solid foundation for building a robust investment portfolio. By considering insights from both FintechZoom and FastBull, investors can make informed decisions, balancing potential returns with associated risks. Whether you are focusing on tech giants, healthcare leaders, or stable dividend payers, these top picks offer promising opportunities for growth in the year ahead.
          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Traders Eye $71.5K Bitcoin Price as Open Interest Jumps 13%

          Warren Takunda

          Cryptocurrency

          Bitcoin could be headed toward the $71,500 mark after breaching the $65,000 price point on Tuesday, based on historical patterns as observed by crypto traders.
          The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements.
          “Breaking $65,000 would mean price would be ready to move inside the $65,000-$71,500 region,” pseudonymous crypto trader Rekt Capital wrote in a July 16 X post, when Bitcoin BTC was hovering just shy of $65,000.
          Rekt referred to their Bitcoin price cluster chart, which divides price ranges into separate boxes, to show previous times when Bitcoin broke the $65,000 barrier before approaching the $71,500 level, which has already happened four times this year.Traders Eye $71.5K Bitcoin Price as Open Interest Jumps 13%_1

          Source: Rekt Capital

          Bitcoin is currently trading at $65,846 at the time of publication, according to CoinMarketCap data.
          If Bitcoin moves to $71,500, the next significant stage will be Bitcoin’s all-time high of $73,649, reached on March 13.

          Bitcoin shorters think otherwise

          However, a huge amount of short positions are at risk of being liquidated at $71,500, meaning many future traders are confident the price won’t reach that level for now.
          Approximately $1.47 billion in short positions will be wiped at $71,500, according to CoinGlass data.
          Despite this, the past five days has rebuilt confidence among future traders, as Open Interest (OI) — the total number of outstanding Bitcoin options contracts traders hold at a given time that have not yet been executed — has spiked 13% over the same period.
          Traders Eye $71.5K Bitcoin Price as Open Interest Jumps 13%_2

          Bitcoin Open Interest is currently $33.10 billion. Source: CoinGlass

          Meanwhile, pseudonymous crypto trader Mags pointed out that Bitcoin’s recent price decline to $56,649 on June 12, falling below the 200-day moving average — could be a signal that Bitcoin could repeat its historical patterns seen in August 2023, where Bitcoin jumped 17.5% to $47,000 in just two months.
          “If a similar pattern repeats after the recent dip, we could see $70,000+ for Bitcoin soon” Mags stated in a July 16 X post.
          Pseudonymous crypto trader Yoddha believes the sharp decline was a “fakeout to trap all the panic sellers.”

          Source:Cointelegraph

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          American Airlines earnings preview: revenue to grow but turbulence expected

          IG

          Stocks

          Earnings outlook

          Wall Street anticipates a year-over-year decline in earnings for American Airlines (AAL) in the quarter ended June 2024, despite expectations of higher revenues. Analysts project quarterly earnings of $1.05 per share, representing a 45.3% decrease from the previous year. However, revenues are forecasted to reach $14.42 billion, marking a 2.6% increase from the same quarter last year.

          ​Recent performance and challenges

          AAL has faced significant challenges recently, with its stock price falling 13% on May 29 following a cut in its second-quarter (Q2) outlook. The company acknowledged losing business travel to rival airlines, partly due to its strategy of focusing on direct website sales and reducing its sales staff. This approach appears to have backfired, resulting in a loss of corporate business to competitors.

          ​Financial improvements

          ​Despite these setbacks, AAL has shown some financial improvements. The company's net income expanded by 547% year-over-year (YoY) to $0.82 billion in 2023, primarily attributed to an expansion of its operating margin and lower non-operating expenses. Both gross and operating margins have seen significant growth since 2021, with the net income margin rising from -18.1% in 2021 to 3.5% in 2023.

          ​Stock performance and valuation

          ​AAL stock has consistently underperformed the S&P 500 from 2021 to 2023. However, analysts estimate AAL's valuation to be $16 per share, suggesting a potential upside of over 30% from its current market price of around $12. This valuation is based on a sales multiple of 0.2x, aligning with the stock's average over the last three years.

          ​Outlook and concerns

          ​Looking ahead, AAL expects its 2024 adjusted earnings to be between $2.25 and $3.25 per share. The company has plans for capacity expansion and debt reduction, while overall travel demand remains robust. However, AAL faces several near-term headwinds, including the loss of customers to rival airlines, elevated fuel prices, and lower yields. Additionally, the company's high debt level of around $40 billion remains a significant concern for investors and analysts alike.

          AAL stock price – technical analysis

          ​July saw the stock price fall to its lowest level since the Covid-19 pandemic, continuing the negative momentum from the gloomy update on 29 May.
          ​A dip towards $10 was met by buying, but the overall bearish impression remains in place. Short term rallies in February, March and early May all hit fresh selling, indicating generally bearish sentiment.
          ​In the short-term, any rebound targets the mid-April low at $12.72.American Airlines earnings preview: revenue to grow but turbulence expected_1
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Gold Shines as Rate Cuts Beckon; Trump Talk Hits Taiwan Stocks

          Warren Takunda

          Economic

          Commodity

          Gold hit a record and bonds rallied on Wednesday as markets prepared for global interest rates to fall, while stocks in Taiwan slipped after U.S. presidential candidate Donald Trump sounded lukewarm in his commitment to the island's defence.
          Sterling ticked higher after British inflation held at 2% year-on-year in June against forecasts for 1.9%, with services inflation stuck at an uncomfortable 5.7%.
          FTSE futures rose 0.2% and S&P 500 futures traded 0.2% lower after the cash index made a record high on Wednesday.
          MSCI's broadest index of Asia-Pacific shares outside Japan was flat and Japan's Nikkei fell 0.4%.
          In Taiwan, chipmaker TSMC fell 3%, wiping out close to $30 billion in market value, after Trump questioned U.S. support in an interview with Bloomberg Businessweek, saying Taiwan should pay for U.S. protection.
          It was unclear exactly what Trump was planning, however his selection of trade hawk J.D. Vance as his running mate had already put markets on notice that China will figure heavily in his foreign policy thinking.
          Chinese stocks were subdued for a second day running.
          The Taiwan dollar slipped slightly to a two-week low. China's yuan steadied at 7.2673 per dollar as markets waited on news from a leadership meeting in Beijing which ends on Thursday.
          "It is more and more clear to me that Trump should be bullish for USD for at least a while," said Brent Donnelly, president at analytics firm Spectra Markets, as he is expected to impose tariffs and run a higher budget deficit.
          "It's hard to imagine USDCNH ending 2024 below 7.25 on a Trump victory in November but it's not hard to imagine it closing above 7.50," he said, referring to the dollar-yuan pair.
          Elsewhere in the technology sector ASML, the largest equipment supplier to chipmakers, reported better-than-expected second-quarter earnings and shares were indicated as opening higher.

          GOLD GLITTERS

          In Asia, New Zealand shares hit their highest since March 2022 after data showed inflation slowing, though the rates market dipped and the currency rose on sticky domestically driven inflation.
          Treasuries held gains that had pushed 10-year U.S. yields to four-month lows overnight after Federal Reserve Chair Jerome Powell said recent cooling in inflation readings "add somewhat to confidence" that consumer prices are coming under control.
          Fed funds futures have fully priced a U.S. rate cut for September, followed by two more before the end of January 2025.
          Ten-year yields were steady at 4.167% and two-year yields hovered at 4.44%. Bond markets in Australia, Japan and South Korea rallied.
          Lower yields helped propel gold sharply higher and through chart resistance around $2,450 per ounce despite a broadly firm dollar. It touched a record $2,482 in Asia trade on Wednesday.
          "Gold's ability to find support in any condition this year is worth highlighting," said Commonwealth Bank of Australia commodity strategist Vivek Dhar.
          "While we think gold prices face uncertainty in coming months, we think the uncertainty has a positive skew, raising the risk that gold rises above our forecast of $2,500/oz by the end of the year."
          The Japanese yen was steady at 157.9, well off a 38-year low of 161.96 touched earlier in July after a few rounds of suspected intervention from Japan late last week.
          The euro was steady at $1.0905.
          Oil prices slipped slightly, weighed by signs of weakening demand from China.
          Brent crude futures fell nine cents to $83.64 a barrel and U.S. crude futures were seven cents lower at $80.69 a barrel.

          Source: Reuters

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

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