Source: PaxForex Premium Analytics Portal, Fundamental Insight Investors continue to pile into the AI trend and push Nvidia and a few other companies to all-time highs, driving the NASDAQ100 to its all-time highs. While the AI boom has more room to run, it does not reflect the current state of the economy, which struggles with rising headwinds. The breadth of the market rally, fueled by the Magnificent Seven, is another area of concern, and earnings seasons this week could spark a risk-off sentiment. After the US Federal Reserve slashed...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Tesla's stock has had a roller-coaster year, rallying after its third-quarter earnings report and an encouraging forecast for future deliveries. After rebounding from early 2024 losses, the stock is currently trading close to breakeven for the year. This recent uptick reflects Tesla's efforts to recover momentum in an increasingly competitive electric vehicle (EV) market and its ambitious plans to lead in autonomous driving technology. The company continues to promote...
Source: PaxForex Premium Analytics Portal, Fundamental Insight US Preliminary Durable Goods Orders for September are predicted to drop by 1.1% monthly, and Durables Excluding Transportation to decrease by 0.1% monthly. Forex traders can compare this to US Durable Goods Orders for August, which were flat at 0.0% monthly, and Durables Excluding Transportation, which increased by 0.5% monthly. The final US Michigan Consumer Sentiment for October is predicted at 68.9. Forex traders can compare this to US Michigan Consumer Confidence for...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Verizon Communications, one of the largest telecommunications companies in the US, recently released its third-quarter earnings report for 2024, revealing a mixed performance. Operating revenue remained largely unchanged at $33.33 billion, slightly down from $33.34 billion in 2023, while adjusted earnings per share (EPS) decreased to $1.19 from $1.22. This reflects tighter profit margins and increased pressures on profitability, especially as net income declined significantly,...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The Preliminary Australian Judo Bank Services PMI for October came in at 50.6, and the Preliminary Australian Judo Bank Manufacturing PMI was at 46.6. Forex traders can compare this to the Australian Judo Bank Services PMI for September, reported at 50.5, and the Australian Judo Bank Manufacturing PMI, reported at 46.7. US Building Permits for September are predicted to decrease by 2.9% monthly to 1.428M permits. Forex traders can compare this to US Building Permits for...
