Monthly Archives: October 2024
41654156156Wall Street Bullish on Tech Rally
Written on October 10, 2024 at 5:45 am, by pumarketings
Market Summary The Chinese equity market faced strong selling pressure in the last session due to disappointing economic data, while Wall Street reached another all-time high, driven by a fresh tech rally led by companies like Apple Inc, Amazon, and Netflix. However, traders should closely monitor today’s CPI reading, as a higher-than-expected result could placeContinue Reading
Oil Price Slips As US Crude Stock Build
Written on October 10, 2024 at 2:12 am, by pumarketings
Fundamental Analysis * Crude Build: Crude oil prices have declined after a larger-than-expected increase in U.S. crude inventories. The Energy Information Administration reported a rise of 5.8 million barrels in U.S. oil supplies last week, far exceeding the forecasted 2-million-barrel build. Additionally, oil prices were pressured by the possibility of de-escalation in the Middle EastContinue Reading
Gold Prices Plunge on Fed’s Hawkish Prospect
Written on October 9, 2024 at 5:49 am, by pumarketings
Market Summary Chinese equities, including the China A50 and Hang Seng Index (HSI), extended their losses following the resumption of trading after the National Day holiday. Poor holiday economic data, combined with growing skepticism around stimulus measures, sparked a sell-off in the market, with the HSI plunging nearly 10% since its last session. Meanwhile, U.S.Continue Reading
