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For the first time in nearly 10 years, a Berkshire Hathaway employee claimed Warren Buffett’s $1 million grand prize for his company’s NCAA bracket contest.

An anonymous employee from aviation training company FlightSafety International, a subsidiary of Buffett’s Berkshire, won the annual internal bracket contest after correctly calling 31 of the 32 games in the first round of the men’s basketball tournament dubbed March Madness, according to a statement.

The 94-year-old Oracle of Omaha was finally able to give out the big prize after relaxing the rules multiple times since the competition’s inception in 2016. Originally, Buffett, a Creighton basketball fan, set out to award anyone who could perfectly predict the Sweet 16.

Then, in 2024, after the $1 million jackpot remained unclaimed, participants were given the advantage of waiving the results of the eight games among the No.1 and No. 2 seeds. Still, nobody cracked the code.

This year, the rules were changed again so anyone who picks the winners of at least 30 of the tournament’s 32 first-round games would be eligible to win the prize.

In fact, 12 Berkshire employees guessed 31 of the 32 first-round games correctly. The $1 million prize went to the person from that group that picked 29 games consecutively before a loss. That winner went on to pick 44 of the 45 games correctly.

The other 11 contestants are getting $100,000 each.

This post appeared first on NBC NEWS

DoorDash and Klarna are joining forces to let users pay for meal deliveries with installment loans, calling it “essential to meeting our customers’ needs.” Not everyone sees it that way.

The announcement has drawn a flurry of criticism on social media, less directed at the companies themselves than questioning what the need to use a “buy now, pay later” service for food orders says about the increasingly debt-ridden economy.

“Eat now, pay later? A credit apocalypse is coming,” an X user wrote Thursday when the partnership was announced.

Another X poster used a photo of a forlorn-looking Dave Ramsey, the personal finance pundit, with the caption, “what do you mean you have $11k in ‘doordash debt’.”

Others whipped up “Sopranos” memes, quipping about “DoorDash debt collection outside your door because you missed a Chipotle payment.”

The economic commentator Kyla Scanlon said in a social media video that the deal was another example of the “gambling economy.”

“We have memecoins, sports betting — we love a good vice in the United States, and we can do it completely frictionless,” she said. “We don’t even have to put on pants. Just app it to you and worry about everything else later.” She added that “there are real winners and losers” in business models that monetize not just convenience but “impulsivity.”

Klarna, which is preparing for an initial public offering, is among the BNPL providers that have surged into virtually all corners of the consumer economy since the pandemic, such as Afterpay, Affirm and Sezzle.

The lightly regulated financial services give users a variety of ways to pay for purchases; among the most popular are short-term loans that can typically be repaid in several interest-free installments. The companies make money by charging users for late or missed payments and merchants for the ability to offer BNPL loans at checkouts.

DoorDash said customers will be able to use Klarna for many types of purchases on its platform, not just small-dollar food deliveries. They can pay in full up front, in four installments or else later on, “such as a date that aligns with their paycheck schedules.”

A Klarna spokesperson acknowledged the online pushback but said any form of borrowing for food purchases is potentially concerning, depending on the circumstances.

“If people are in a situation where they feel like they have to put their food on credit, that’s a bad indicator for society,” the spokesperson said.

Still, many people make “a rational decision” to use BNPL services to help manage their money, the spokesperson said, adding that the new features would be available only for DoorDash purchases of at least $35 — a few dollars more than the platform’s average order as of last March. “Wherever high-cost credit cards are accepted, consumers should be able to choose a zero-interest credit product, instead.”

Indeed, industrywide data shows the short-term loans have become a routine feature of many consumers’ wallets, particularly among young adults coping with inflation and with average credit card interest rates still near 20%.

The BNPL explosion coincides with record debt levels and mounting consumer pessimism. Total household debt exceeded $18 trillion at the end of last year, according to the Federal Reserve Bank of New York, with credit card balances comprising a record $1.2 trillion of that sum. Consumer sentiment fell this month to its lowest level since 2022, and borrowers’ expectations for missing debt payments in the next three months hit their highest level since 2020, the New York Fed found.

A spokesperson for DoorDash didn’t comment on the criticism of its partnership with Klarna, saying their collaboration “provides even more flexibility, control and options.” The delivery service noted that its users can already pay with Venmo and CashApp, as well as government aid, including SNAP benefits. Klarna is already available on the grocery delivery platform Instacart, and it recently replaced rival Affirm as Walmart’s exclusive BNPL partner.

Much of the concern over BNPL has focused on the potential effects on borrowers’ credit histories, which largely still don’t reflect use of the services despite years of discussions with credit-reporting bureaus to change that. Yet a study released last month by Affirm and the credit-scoring firm FICO showed most consumers with five or more Affirm loans saw no real downside to their credit scores, some of which actually increased. And consumers consistently rate BNPL products favorably in surveys. Last year, 89% of borrowers told TransUnion they were either satisfied or very satisfied with the services.

But personal finance experts and consumer advocates say the qualms kicked up by the DoorDash-Klarna deal reflect real financial risks.

“Making four payments to cover three tacos on Tuesday sounds complicated because it is,” said Adam Rust, director of financial services at the Consumer Federation of America, an advocacy group. “I wouldn’t characterize this as a solution. It is a fintech innovation that creates problems.”

Not only might users face Klarna’s own late fees, he said, but “once customers consent to repay with automatic debits, they risk additional overdraft fees” from their banks.

Rust also highlighted recent work by the Consumer Financial Protection Bureau that remains in jeopardy or has been stopped altogether as the Trump administration defangs the agency.

The CFPB recently granted BNPL customers more ability to dispute charges and get refunds, but with staffers ordered to stop all enforcement activity last month, former employees and consumer advocates believe the rule has been rendered moot. A trade group representing fintech businesses, including some BNPL lenders but not Klarna, asked the Trump administration this month for an exemption from a law scheduled to take effect next week requiring certain lenders to verify borrowers’ ability to repay loans before they front them money.

Financial planners have long cautioned clients against budgetary strains from BNPL overuse. Even some borrowers themselves who’ve spent heavily with the services have begun warning others of their risks, saying they make it easy for cash-strapped users to rack up debts that are tough to pay off.

“Eat now, pay later is an awful trap,” Douglas Boneparth, president of Bone Fide Wealth, an advisory firm focused on millennials, wrote on X last week. “If you need to borrow to have a burrito delivered to you, you are the product. Nothing more.”

This post appeared first on NBC NEWS

Bitcoin is more closely correlated to the Nasdaq than it is to gold most of the time, and investors could benefit from viewing it as another big tech stock, says Standard Chartered.

Bitcoin’s correlation with the Nasdaq is currently at about 0.5, after it approached 0.8 earlier this year, according to the bank. Meanwhile, its correlation with gold has been falling since January, touching zero at one point, and is now just above 0.2.

“Bitcoin trading is highly correlated to the Nasdaq over short time horizons,” Geoff Kendrick, Standard Chartered’s global head of digital assets research, said in a note Monday. “This Nasdaq correlation leads to the idea that bitcoin could be included in a basket of large tech stocks; if it were included, the implication would be more institutional buying as BTC would serve multiple purposes in investor portfolios.”

Bitcoin is frequently viewed as “digital gold” and a hedge against risks facing the traditional financial sector. Kendrick said he still sees the flagship cryptocurrency serving that purpose but that “in reality … the need for such hedges is very infrequent.”

Standard Chartered created a hypothetical index dubbed “Mag 7B,” in which it added bitcoin to the Magnificent 7 tech stocks — Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla — and removed Tesla.

“Mag 7B has outperformed Mag 7 by about 5% over the period since December 2017,” he said. “On a calendar year basis, Mag 7B outperformed Mag 7 in five out of seven years, albeit by a very small margin in 2022. Mag 7B’s relative returns are decent on both an absolute basis (averaging around 1% a year above Mag 7) and a calendar-year basis.”

Kendrick said bitcoin has been trading in a similar volatility-adjusted fashion to Nvidia since President Trump’s inauguration. They’re down 16% and 12%, respectively, since Jan. 20. Meanwhile, Tesla, which has lost 36% in the same period, is trading more like ether (down 38% since Jan. 20).

“Investors can view bitcoin as both a hedge against [traditional finance] and as part of their tech allocation,” Kendrick said. “Indeed, as BTC’s role in global investor portfolios becomes established, we think that having more than one use will bring fresh capital inflows to the asset. This is particularly true as bitcoin investment becomes more institutionalized.”

Bitcoin is down about 5% for the year after Trump’s tariff threats in recent weeks have brought new volatility to the market. Investors are expecting relief in the second quarter, however, given bitcoin’s two of its most persistent correlations: its positive correlation with money supply growth, also known as M2, and its negative correlation with the U.S. dollar index, or DXY.

—CNBC’s Michael Bloom contributed reporting.

This post appeared first on NBC NEWS

Oil and natural gas: Oil is back on the positive side

On Tuesday, the oil price dropped to a new July low of $74.59. 
During this morning’s Asian trading session, the price of natural gas climbed to a new weekly high at the $2.16 level.

Oil chart analysis

On Tuesday, the oil price dropped to a new July low of $74.59. Shortly after stabilizing at that level, a bullish consolidation was initiated. During this morning’s Asian trading session, the oil price started a strong bullish consolidation. It quickly bounced back above $76.00, finding support at the EMA 50 moving average. After that, the growth continued to $77.50 and the EMA 200 moving average.

In this zone, we can expect some resistance to continue on the bullish side. Potential higher targets are the $78.00 and $78.50 levels. For a bearish option, we need a negative consolidation and pullback below the $77.00 level. This brings us back to the negative side below the weekly open price. After that, we expect to see a further pullback and a search for new support. Potential lower targets are the $76.50 and $76.00 levels.

 

Natural gas chart analysis

During this morning’s Asian trading session, the price of natural gas climbed to a new weekly high at the $2.16 level. The inability of the price to stabilize and continue on the bullish side led to the initiation of bearish consolidation and the EU session back to the $2.08 level. We are back below the EMA 200 moving average again, which added to the bearish momentum.

Potential lower targets are the $2.06 and $2.04 levels. By returning to these levels, we would be forced to test the weekly open price. For a bullish option, we need to stop this bearish impulse and stabilize the price at the $2.10 level. If we succeed in this, we can hope to initiate a bullish consolidation and recovery. Potential higher targets are the $2.12 and $2.14 levels.

 

The post Oil and natural gas: Oil is back on the positive side appeared first on FinanceBrokerage.

What Is Bionano Genomics & BNGO Stock?

Bionano Genomics is a genomic company that provides optical genome mapping solutions for translational, basic, and clinical research applications. Its stock is traded on the NASDAQ exchange under the ticker symbol BNGO.

Using Lineagen, Inc., the company offers screening tests for patients with symptoms consistent with neurodevelopmental disabilities, such as autism spectrum disorder.

Additionally, it provides a platform-neutral software solution that combines microarray data (a technology that studies many genes at once) and sequencing data (reading the order of DNA or RNA) to offer a comprehensive view for the analysis, interpretation, visualization, and reporting of single-nucleotide variations (small changes in the DNA sequence), copy number variations (changes in the number of gene copies), and loss of heterozygosity (loss of genetic diversity) throughout the genome.

The company also uses its isotachophoresis (a technique for separating molecules) technology to provide purification solutions and nucleic acid extraction (isolating DNA or RNA from samples). The Saphyr system is one of the OGM systems the company markets and sells. It provides OGM data to allow ultra-specific and ultra-sensitive findings of all structural variations.

The entire biotech field is advancing rapidly, with AI playing a crucial role in boosting the market by providing more precise and comprehensive genetic insights.

BNGO Stock Forecast

The stock price prediction for Bionano Genomics for tomorrow is $0.59845, indicating a 0.52% decrease from the current price. Furthermore, the BNGO stock price is expected to drop by 0.12% to reach $0.60089 the following week.

Regarding the long-term Bionano Genomics stock forecast, these are the current projections (based on BNGO’s 10-year average increase):

The stock prediction for BNGO in a year is $5.08 (745.19%).
The 2025 stock forecast for Bionano Genomics is $0.803256 (28.11%).
The forecast for BNGO stock in 2030 is $2.77 (342.10%).

According to BNGO stock analyst ratings, the stock price has a 686.28% upside potential. Bionano Genomics Inc. has an average price target of $4.93. This is based on Wall Street analysts publishing three 12-month price targets within the last three months.

The lowest estimate is $2.00, while the maximum genome analysis price target is $6.80. The average cost target represents an increase of 686.28% over the current price of $0.627.

Given the potential in this field, we should expect good long-term growth prospects for BNGO stock.

Stock Data

BNGO/USD 5-Day Chart

1 Year Target: $6.00
Today’s High/Low: $0.6300/$0.5921
Share Volume: 1,117,618
Average Volume: 1,555,802
Previous Close: $0.6016
52 Week High/Low: $6.189/$0.52
Market Cap: 41,919,216
P/E Ratio: 0
Forward P/E 1 Yr.: -0.32
Earnings Per Share (EPS): $-6.96
Technical Analysis: 5-day moving average, 20-day moving average, 50-day moving average, 200-day moving average

What Happened to BNGO Stock

While the market sentiment for BNGO stock is generally positive, several factors are influencing varying sentiments among investors. A significant shift in the C-suite caused the sharp decline in the BNGO share price on Monday.

Investors pulled out of the biotech stock after it announced that its CFO was stepping down, causing the stock to close more than 13% lower. This resulted in a performance that was very different from the S&P 500 index, which increased by nearly 6%.

When Bionano released its second-quarter earnings earlier this month, it revealed an encouraging increase in revenue year over year but also reported a growing net loss of more than $38 million.

Even more concerning, the company implemented a 1-for-10 reverse stock split. This financial engineering tactic is usually interpreted as an effort by a struggling business to increase the value of its stock.

If you’re looking to diversify your assets, BNGO could be a good investment because of the demand in the field.

Where to Buy BNGO Stock

You can buy Bionano Genomics (NASDAQ: BNGO) stock through a brokerage exchange or on Public. Here is a guide on how to buy the stock on Public:

Register: Sign up on Public to open a brokerage account.
Fund Your Account: Deposit funds into your Public account.
Decide on Investment: Determine how much you want to invest in BNGO stock.

The post BNGO Stock: BioNano Genomics Analysis and Forecast appeared first on FinanceBrokerage.

Gold and Silver: Gold remains stable in the $2420 zone

During this morning’s Asian trading session, the price of gold once again received support at the $2405 level. 
On Monday, we saw the price of silver drop to $27.29, a new July low. 

Gold chart analysis

During this morning’s Asian trading session, the price of gold once again received support at the $2405 level. After this, we saw bullish impulses that went up to the $2425 level. The price now holds around $2420, and everything indicates that we will see a new bullish impulse above a new weekly high. Potential higher targets are the $2430 and $2440 levels. Last week’s gold price high was at $2432.

For a bearish option, we need a negative consolidation and pullback to the $2410 level. There, we will test the daily open price. By going below to a new low, we will confirm the transition to the bearish side and increase the pressure on the price of gold. After that, we expect to test the $2400 level, where the EMA 200 moving average awaits us. Potential lower targets are $2390 and $2380 levels.

 

Silver chart analysis

On Monday, we saw the price of silver drop to $27.29, a new July low. After that, the price started a bullish consolidation that continues today. Yesterday, we saw a move above the $28.00 level, where we received support from the EMA 50 moving average. In the continuation, silver gained new momentum and rose today up to the $28.75 level. In this zone, we are looking at an attempt to hold there and gain support from the EMA 200 moving average.

With his support, we expect stronger bullish consolidation and conquest of higher levels. Potential higher targets are the $28.80 and $29.00 levels. For a bearish option, we need a pullback of the silver price down to the $28.40 level. There, we will test the daily open price. With the momentum below, we move to the bearish side, which will negatively affect the price movement. Potential lower targets are the $28.20 and $28.00 levels.

 

The post Gold and Silver: Gold remains stable in the $2420 zone appeared first on FinanceBrokerage.

IonQ Stock: Should You Invest In IonQ?

IonQ, Inc. (NYSE: IONQ) was founded in 2015 by Jungsang Kim and Chris Monroe, headquartered in College Park, Maryland, and has emerged as a leader in the quantum computing field. As of July 29, 2024, the IonQ stock price experienced a slight dip, falling from $7.92 to $7.89.

The main reason IONQ stock is going up is the enterprise’s significant $7.6 million revenue, which means the business has accumulated 77% more revenue than it did the previous year. This expansion is gained by entering collaborations with different public and private institutions from various sectors who are keen on benefiting from IonQ’s cutting-edge quantum computing solutions.

The long-term IONQ stock forecasts are optimistic in the stock market. Five Wall Street analysts have set a 12-month target of $14.70 for the stock, with the potential to climb as high as $21.00. This increase would represent a significant gain of 86.31% from the current levels.

The company MarketsandMarkets has estimated the market to increase by nearly $1.3 billion in just five years, that is, from $472 billion last year to a whopping $1.7 billion in 2026, which is a CAGR of 29.04%. IonQ, with its brilliant team and unique technology, is in an excellent position to become a leader in this agile market, and so is the Nabla network regarding the revenue growth coming. According to Motley Fool Premium Investing, the gross margin in Q1 2024 is 2.8%.

Why Is Ionq Stock Dropping?

IonQ’s fortunes took a dive due to the rough competition and the changing market dynamics. The IonQ stock sank by a total of 13.7% last month, as reported by S&P Global Market Intelligence. This plunge came in the wake of many reports informing that the company’s potential competitors seem to be near, and the investment market is swaying away from thus expecting an increased number of interest rate changes than initially thought.

Remarkably, the analysts’ predictions and proposals for IonQ remained unchanged; even so, the sentiment of investors became negative, and they all followed along the appropriate way and sold off their holdings.

The firm recorded a negative free cash flow of nearly $20 million in the last quarter, with approximately $400 million worth of liquid assets on hand. This positions IonQ with a cash runway of less than two years.

The pressure intensifies as investors are already concerned about the lack of quantitative results and the narrow spectrum of quantum computing. The fact that investors are so impatient has triggered the most remarkable downfall in IonQ’s stock. Consequently, the price of the company’s stock has diminished by 43.3%, starting in 2024.

IonQ’s short-term future remains overshadowed by AI investor fatigue. During the market’s evolution, IonQ should grapple with all these obstacles and show the way towards gaining investor confidence and building a steady rise.

IonQ Stock Price Prediction 2025

Analysts predict that the IonQ stock price will reach $12.32 by 2025. This represents an impressive 56.12% increase, assuming the company can maintain its average annual growth rate from the past ten years.

However, the way to get there will be fraught with problems. By August 3, 2024, a projection made by analyst recommendations in-depth reads that the price will be $7.29 per share, a 7.54% loss from current levels is forecasted.

Even with the current negative sentiment, IonQ has held tough and has kept the stock in the green zone for 63% of the last 30 days and added some 8.80% in price volatility, implying a few strategic investors are still smart enough to continue getting returns. Consequently, whether you are an experienced trader or a curious spectator, IonQ, Inc. stock is a development worth keeping a close eye on!

Wall Street Views: Should You Invest In IonQ?

Wall Street analysts are the key source in the decision-making of the investors who follow their recommendations on whether to buy, sell, or hold a stock. Out of the basis of the current ABR, two are Strong Buy, and one is Buy. Together, 40 and 20 per cent belong to the recommended groups of Strong Buy and Buy itself, respectively. The consensus analyst rating at IonQ is a Moderate Buy. If you wonder how to buy IONQ stock, Sign up for a Robinhood brokerage account, where you can buy or sell IonQ stock.

Last Reported Results: Shares Of IonQ NYSE

IonQ’s fortunes have recently taken a hit due to intense competition and the evolving market landscape. Despite this, the company has demonstrated impressive growth with a 76.7% increase in revenue. Although IonQ reported an EPS deficit of -$0.19, this was mitigated by its additional earnings and the fact that it exceeded earnings per share consensus estimates three times over the past year.

Even with a trading volume of 4,307,768, IonQ’s future in the quantum computing sector remains promising. The company’s ability to surprise the market has reignited investor interest, signalling potential for growth and investment.

The post IonQ Stock Review: Should You Consider Investing Now? appeared first on FinanceBrokerage.

Nvidia Stock Plunged Ahead Of Tech Earnings Reports

Nvidia stock price tumbled on Tuesday, hitting its lowest level since May 2024. Investors are waiting for major technology companies’ earnings data. Some speculate that AI hardware might become a serious competitor for the tech sector.

NVDA shaved off 7.04% today. Its shares closed lower by 7% at the end of the session, reaching $103.73. On the other hand, the tech-focused Nasdaq Composite Index (COMP) dropped by 1.3%.

In July 2024, Nvidia’s stock suffered significantly. Its shares plummeted by 16% last month, showing the worst performance since September 2022, when they declined by 20%.

While not so dire, 16% is still a substantial amount. So, what’s happening? And will the stock rebound soon?

Why Is Nvidia Stock Going Down?

Mizuho analyst Jordan Klein discussed Nvidia stock’s performance on Tuesday. He noted that the shares’ decline was most likely due to the ongoing rotation in the market. That means investors are withdrawing from the stocks that gained recently, thanks to their soaring prices, and start buying bearish assets because of their lower value.

Traders already profited from major tech stocks and now want to reinvest that money into smaller-cap companies. Don’t forget that the US Federal Reserve will announce interest rate cuts this week. If the Fed decides to tighten policy, such stocks will benefit more than Tech giants.

Klein also added that some of these shares are currently overvalued because of the strong demand. It seems tradersoverbought some of the stocks. Such conditions tend to drive the prices higher, inflating them beyond their actual value.

Investors aren’t going to wait for these indexes to bottom out, though—instead, they prefer to move on to other assets.

Besides, even though Nvidia stock is declining now, it’s still trading higher by 109% in 2024, mainly thanks to its dominant position in the tech market. The company is producing chips for training AI systems, which has become the main source of its success lately.

In comparison, the S&P 500 index gained only 14% over the last year. Nasdaq Composite also reported lower profits in the same time frame. However, that might change in the coming months, as it seems competition is strengthening.

However, Nvidia doesn’t go without competition. Some tech companies are contemplating using Apple’s product as an alternative to Nvidia. As a result, AAPL stock soared by 0.26% over the last week, bolstered by this news.

On Monday, Apple announced that it pre-trained two AI models on Google-designed chips instead of Nvidia hardware. These models are crucial for the seamless operation of the Apple Intelligence system. Despite this, Nvidia’s stock remained under pressure.

Will Apple’s AI Models Replace Nvidia Chips?

Even though Apple used Google Tensor chips to train their model, it’s still too early to say whether Apple will become a significant rival for Nvidia, as its models might not be powerful enough. However, Apple plans to partner with other companies, such as OpenAI, which is best known for developing ChatGPT.

Some analysts believe that Microsoft’s developments might also impact Nvidia’s price. Despite the positive outlook, Microsoft (MSFT) still dropped by 0.89% today following recent Windows outages. The company is set to report its fourth-quarter earnings later today.

Nvidia shareholders hope that it will continue investing in hardware and chips to support its artificial intelligence technology. However, the company’s top rival in chips, Advanced Micro Devices (AMD), also plans to report its earnings on Monday, July 31, 2024.

If AMD’s news is positive and it increases its revenue guidance from AI chips, Nvidia might also benefit, provided AMD doesn’t poach its clients. Today, AMD defined the bearish market trend, gaining 0.4% in the morning session.

Other companies, such as Broadcom (AVGO) and Marvell (MRVL), are also designing their own chips. If they manage tooffer a superior product, they might dethrone Nvidia. However, Klein thinks that this won’t happen anytime soon.

What Is the Forecast for Nvidia Stock?

Not only is Nvidia dropping, but Nasdaq sinks as well. That indicates that the broader market is bearish right now. Such fluctuations usually don’t last long, but the majority of shares follow the trend.

Consequently, AVGO declined by 4.46%, Intel lost 2.27%, and Marvell Technology plunged by 2.6%. Meanwhile, Nvidia shares might experience the worst month in almost two years.

The technology sector is waiting for the reports of major companies. If they prove positive, the stocks will likely turn bullish, with Nvidia gaining again. However, a lot depends on the market conditions and tech industry news, as well.

Investors need to make informed decisions to ensure profitable trades. Stay tuned to follow the stock markets and Wall Street news!

The post Nvidia Stock Tumbles on Earnings Anticipation and AI Rivalry appeared first on FinanceBrokerage.

The dollar index continues to pull back to a new low

On Tuesday, the dollar index managed to climb up to 104.80 level.

Dollar chart analysis

On Tuesday, the dollar index managed to climb up to 104.80 level. After the formation of the weekly high, the index began to lose volume and turn to the bearish side. We saw an attempt to hold above the 104.50 level, but it all ended in failure for the dollar. The decline did not stop there, but we saw a continuation today. During this morning’s Asian trading session, the dollar index initiated a strong bearish consolidation, falling below the EMA 200 and the weekly open price.

That step only strengthened the bearish momentum, which continued to push us lower to a new weekly low at 103.93. Even the potential support at the 104.00 level did not last, but we saw a break below. Based on the current picture, we can expect further retreat and a new lower low formation. Potential lower targets are the 103.90 and 103.80 levels.

 

The Fed decides tonight on the fate of the dollar, will it save it from further decline?

For a bullish option, the dollar index needs to stabilize above the 104.00 level to begin with. If the index succeeds in this, it can hope for a recovery and a move to the bullish side. After that, it should start a bullish consolidation and move to higher levels. Potential higher targets are the 104.10 and 104.20 levels.

We expect very important news from the US market tonight: the Fed will announce the future interest rate. This is a crucial event that could significantly influence the market. Economists forecast that the interest rate could remain at 5.50%. Half an hour later, we have a press conference that could indicate the Fed’s future monetary policy.

 

The post The dollar index continues to pull back to a new low appeared first on FinanceBrokerage.

A look back at Biden’s Remarkable 50-year career in politics

After a disastrous performance at the first presidential debate in June, during which President Biden appeared disorganized and even bewildered, prominent Democrats called for him to withdraw from the election. That call has now been answered and Joe Biden has made the monumental decision to remove himself from the race and end an illustrious career in politics. Reflecting on a remarkable career that has spanned five decades, it is clear that his journey has been full of highs and lows. As he prepares to leave the White House in January, this article looks back at President Biden’s remarkable 50 years of public service.

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