Fri, April 26, 2024

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Stocks

Mackenzie Financial Corp Sees Major Institutional Investments

Quick Look: Mackenzie Financial Corp’s holdings surged by 247.1%, now valued at approximately $5.59 million. Moneta Group and Norges Bank invested over $203 million and $58.63 million, showing strong market confidence. Ratings vary from upgraded by TheStreet to downgraded by StockNews.com, indicating a divided outlook. Mackenzie Financial Corp has notably increased its market influence by …

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The Central Bank of Russia and crypto, nickel

Nickel Prices Shift Amid Supply Fears

Quick Look: Nickel prices hit a seven-month high on the London Metal Exchange and Shanghai. Chinese stockpile reports and a Russian metal ban drive this surge. Tin, aluminium, and zinc prices also saw increases. Meanwhile, lead dipped on both the London and Shanghai exchanges. Nickel Creek Platinum Corp experienced notable stock volatility amidst broader market …

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Biden withdraws orders to ban TikTok in the US

U.S. House Passes TikTok Ban Bill: Eyes Senate Decision

Quick Look: US House passed a bill requiring ByteDance to divest TikTok US operations within a year. Bill’s failure may impact the US economy significantly; ByteDance’s revenues are substantial. Strong opposition from TikTok and potential legal challenges if the bill passes. China could block the forced sale, raising international trade and diplomatic concerns. Senate’s decision …

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ibest – Reserve Bank of New Zealand: New Zealand dollar bills.

NZD: Global Markets Waver Amid New Zealand Inflation

Quick Look: The New Zealand Dollar plunged by 0.92% after inflation data came in lower than expected at 0.1% for Q1 2024. The Reserve Bank of New Zealand plans to cut rates with inflation below target. Forecasts are suggesting two reductions this year. Geopolitical tensions between Israel and Iran escalated, influencing global equity and commodity …

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Wibest – the aud: Austalian dollar bills.

AUD/USD: Critical Events to Drive Weekly Dynamics

Quick Look: The People’s Bank of China will likely maintain key rates; any changes could influence AUD significantly.  AUD/USD shows bearish trends; key resistance is $0.64582, and support is $0.62713. Australian and US inflation figures due this week could heavily impact market expectations and Fed rate decisions. This week, financial markets are at the edge …

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Last Week’s Stock Market Overview

Genuine Parts Company: Q1 2024 Performance

Quick Look: Genuine Parts Company (NYSE: GPC) reported Q1 2024 results with modest revenue growth under CEO Paul Donahue and President CO Will Stengel. Sales totalled $5.8 billion, slightly below expectations, influenced by acquisitions and comparable sales decline. Net income declined to $249 million, with EPS at $1.78; adjusted net income was $311 million, surpassing …

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Oil

Crude Oil Market Volatility Amidst New Sanctions

Quick Look: New sanctions targeting Venezuela’s crude oil sector affect US Gulf Coast supply as Mexico also cuts exports. US spares Iran’s oil industry, focusing sanctions on UAV production; geopolitical tensions could escalate oil prices. A minor increase in Brent and US crude oil prices despite a significant rise in US crude inventories. This Thursday, …

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Boston Dynamics Launches A Humanoid Robot Electric Atlas

Quick Look: The Electric Atlas features improved strength, range of motion, and new gripper types, aiming to outperform human movement abilities. Strengthening its partnership with Hyundai, Boston Dynamics focuses on integrating humanoid robots in automotive manufacturing for enhanced efficiency. Introduces ‘Orbit’, a sophisticated platform for robot fleet management, with plans to expand its use to …

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Wibest – NZD USD: A close up of a New Zealand dollar coin.

NZD/USD Struggles at Key Resistance Levels

Quick Look: NZD/USD stalled at 0.5920 and faces resistance at 0.5940 with further hurdles at 0.6100, 0.6135, and 0.6160. Positioned below 200-hour EMA of 0.5950; RSI below 60, suggesting potential upward movement.  Cautious investor sentiment due to US inflation, geopolitical tensions, and high US interest rates. The New Zealand Dollar (NZD) is presently encountering a slight …

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CCL Argo Blockchain

WiSA Technologies Soars 17.1% on New 5-Year HDTV Deal

Quick Look:  WiSA Technologies’s stock jumped 17.1% following a five-year licensing deal with a top HDTV brand. The deal involves integrating WiSA’s E software in HDTV/PTV products, enhancing audio quality. Despite a previous 59.7% YTD decline, this deal boosts WiSA’s market position and investor confidence. WiSA Technologies, traded under the symbol WISA on the NASDAQ, …

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IMF Forecasts 3.2% Global Growth in 2024

Quick Look:  IMF revises the 2024 global growth forecast by 0.1%, maintaining a stable outlook amidst global challenges. Advanced economies like the US and the Eurozone show positive indicators, surpassing pre-COVID levels. Geopolitical tensions, inflation risks, and differing central bank approaches threaten forecasted growth despite potential economic drivers. The IMF emphasizes urgent reforms for sustained …

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Wibest – Australian Dollar: The AUD/USD sign on a trading trading chart with a green arrow pointing upward.

Australian Dollar Rises 0.37% Despite Recent 2.2% Drop

Quick Look: The Australian dollar rose 0.37% to 0.62254 after a recent 2.2% drop. Employment slowdowns, as only 7,200 jobs appeared in March, cooling labour market signals. RBA rate decision pending; Next meeting on May 7, influenced by Q1 CPI figures. The Australian Dollar saw a modest recovery, increasing by 0.37% to 0.62254 after a …

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