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As a next generation digital brokerage, Moomoo Malaysia recognises the importance of providing retail investors with access to products that were once only available to select groups of individuals. Moomoo is committed to promoting financial education by helping people develop critical skills to make rational and informed decisions about their financial futures.
To that end, the Moomoo platform is replete with the resources needed to help i...
To that end, the Moomoo platform is replete with the resources needed to help i...
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$Enbridge Inc(ENB.CA$ Down because interest rate cuts are not eminent. And have quite a bit of debt. But assets are solid. I bought last time it was in the $45s. Waiting for 42-43 range. $Enbridge Inc(ENB.CA$
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Powell further lowered expectations of interest rate cuts, and the volatility of the US stock market increased. The S&P 500 and Nasdaq indices fell for three consecutive days, hitting their lowest point in nearly two months, while the Dow Jones index finally stopped falling after six consecutive days of decline. In terms of technology stocks, Tesla and Apple continued to decline, while new chips equipped with AI technology caused AMD and Nvidia to reverse the market.
Furthermore, Morgan Stanley bucked the trend and rose 2.5% after the earnings report was released, while Bank of America plummeted 5% in the intraday period, the biggest decline in more than a year. At the same time, Volkswagen's sales of electric vehicles in the European market have declined significantly. Analysts believe that this trend is related to European governments' reduction in electric vehicle subsidies.
In terms of Federal Reserve policy, Chairman Powell's latest speech has further dampened market expectations for short-term interest rate cuts. He pointed out that since inflation lacks further improvement, it may be appropriate to keep interest rates high. Following this statement, the two-year US Treasury yield and the US dollar index both climbed to recent highs, while the yen continued to fall.
In the commodity market, crude oil prices tried to rebound unsuccessfully and fell for the second day in a row. The price of gold continued to rise, reaching a record high for the fourth day in a row. In the metal market, the price of copper has fallen below the highest level in the past two years, while the price of aluminum has reached a 14-month high. Meanwhile, the price of Bitcoin plummeted by more than $2,000 in one day, falling below the $62,000 mark.
In the Chinese market, the China Securities Index continued to fall, hitting a two-month low, and NIO Auto fell more than 2%. The offshore renminbi is hitting five...
Furthermore, Morgan Stanley bucked the trend and rose 2.5% after the earnings report was released, while Bank of America plummeted 5% in the intraday period, the biggest decline in more than a year. At the same time, Volkswagen's sales of electric vehicles in the European market have declined significantly. Analysts believe that this trend is related to European governments' reduction in electric vehicle subsidies.
In terms of Federal Reserve policy, Chairman Powell's latest speech has further dampened market expectations for short-term interest rate cuts. He pointed out that since inflation lacks further improvement, it may be appropriate to keep interest rates high. Following this statement, the two-year US Treasury yield and the US dollar index both climbed to recent highs, while the yen continued to fall.
In the commodity market, crude oil prices tried to rebound unsuccessfully and fell for the second day in a row. The price of gold continued to rise, reaching a record high for the fourth day in a row. In the metal market, the price of copper has fallen below the highest level in the past two years, while the price of aluminum has reached a 14-month high. Meanwhile, the price of Bitcoin plummeted by more than $2,000 in one day, falling below the $62,000 mark.
In the Chinese market, the China Securities Index continued to fall, hitting a two-month low, and NIO Auto fell more than 2%. The offshore renminbi is hitting five...
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The stock market wraps up Wednesday near session highs after the latest measure of the Fed's favorite inflation gauge arrived in line with forecasts. And the minutes of the last central bank meeting show that some officials wanted to reduce asset purchases by more than the $15B/month pace to give it more flexibility on when it could adjust interest rates.
Volume is declining as many on Wall Street get a jump on the holiday.
Buying picked up after a weak open when the core PCE price index posted an annual pace of 4.1% for October.
The $NASDAQ 100 Index(.NDX.US$ +0.4% creeps further into the green, while the $S&P 500 Index(.SPX.US$ edges up 0.2%. The $Dow Jones Industrial Average(.DJI.US$ -0.03% stays under the breakeven point.
Treasury yields are are back in the red after early gains. The 10-year Treasury yield is down 3 basis point to 1.64%.
Six out of 11 S&P sectors are lower. Real Estate finishes at the top and Info Tech is in positive territory. Materials is the largest decliner in the session.
Retail is seeing big selloffs, with Gap down 24% and Nordstrom down nearly 30%.
Megacaps are mixed, with Meta in the lead and Amazon trailing.
In a recent note, Morgan Stanley says Big Tech is still underowned.
In other economic reports, personal income and spending rose for October, while the pace of new home sales came in lower than anticipated and November consumer sentiment fell less than expected.
Before the bell, the Labor Department reported weekly claims at 199K.
"We expected a huge drop in jobless claims - the consensus was baffling - which were pushed down by a seasonal adjustment quirk," Pantheon Macro's Ian Shepherdson writes. "It will substantially reverse next week, with claims rebounding to about 250K. That said, the trend in claims is clearly falling, and we expect it to return to the pre-Covid low, about 210K, early next year. Laying off staff is risky when the labor market is so tight, with near-record job openings."
Other premarket indicators weren't as encouraging, though. Durable goods orders fell unexpectedly for October, but that was almost solely due to a decline in plane orders. The GDP Q3 revision came in a little light at 2.1%.
Oil is slightly lower as rumors abound about OPEC+ changing course on production.
Volume is declining as many on Wall Street get a jump on the holiday.
Buying picked up after a weak open when the core PCE price index posted an annual pace of 4.1% for October.
The $NASDAQ 100 Index(.NDX.US$ +0.4% creeps further into the green, while the $S&P 500 Index(.SPX.US$ edges up 0.2%. The $Dow Jones Industrial Average(.DJI.US$ -0.03% stays under the breakeven point.
Treasury yields are are back in the red after early gains. The 10-year Treasury yield is down 3 basis point to 1.64%.
Six out of 11 S&P sectors are lower. Real Estate finishes at the top and Info Tech is in positive territory. Materials is the largest decliner in the session.
Retail is seeing big selloffs, with Gap down 24% and Nordstrom down nearly 30%.
Megacaps are mixed, with Meta in the lead and Amazon trailing.
In a recent note, Morgan Stanley says Big Tech is still underowned.
In other economic reports, personal income and spending rose for October, while the pace of new home sales came in lower than anticipated and November consumer sentiment fell less than expected.
Before the bell, the Labor Department reported weekly claims at 199K.
"We expected a huge drop in jobless claims - the consensus was baffling - which were pushed down by a seasonal adjustment quirk," Pantheon Macro's Ian Shepherdson writes. "It will substantially reverse next week, with claims rebounding to about 250K. That said, the trend in claims is clearly falling, and we expect it to return to the pre-Covid low, about 210K, early next year. Laying off staff is risky when the labor market is so tight, with near-record job openings."
Other premarket indicators weren't as encouraging, though. Durable goods orders fell unexpectedly for October, but that was almost solely due to a decline in plane orders. The GDP Q3 revision came in a little light at 2.1%.
Oil is slightly lower as rumors abound about OPEC+ changing course on production.
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