Kodak: A wild ride, with no end in sight
March 16, 2023
Eastman Kodak Co. (KODK) investors have faced extreme market conditions over the last weeks. On Monday, Kodak shares slumped and lost more than 25% after news that a $765 million loan from the US government was put on hold. The stock was temporarily halted after the price fell as much as 43%.
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NFP report: Should you trade it?
March 16, 2023
The US official employment report for July will be released on Friday. Jobs data is published on the first Friday of each month. The key numbers of the report are the change in employment (measured by non-farm payrolls), income data, and the unemployment rate.It is a closely-followed report by economists and investors as it is an up-to-date indicator on one of the critical sectors of the economy, the labor market.
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Forex: three questions about EUR, GBP and JPY
March 16, 2023
The correction of the US dollar did not last long as it resumed the decline against majors. The US Dollar Index (DXY) dropped to the lowest in over two years. No particular reason was behind the decline on Tuesday, other than a solid bearish trend. Current price action appears to target a new equilibrium for the US dollar at lower levels.
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US budget deficit: The size doesn't matter
March 16, 2023
The US federal budget deficit for the first ten months of the fiscal year 2020 reached $2.8 trillion, $1.9 trillion more than the shortfall recorded during the same period last year. The Congressional Budget Office (CBO) projects a deficit of at least $3.7 trillion for 2020, which is 17.9% of the projected GDP. The situation could get worse if Congress approves additional spendings or tax cuts to curb the pandemic effects.
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Three things to watch in markets this week
March 16, 2023
Last week, equity prices in the US finished mostly higher following a rally staged last Monday and the subsequent consolidation. Markets ended quietly, mainly moving sideways. Several events over the next days might challenge calm waters.
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EUR/USD: What’s next after ending an eighth-week positive streak
March 16, 2023
The euro snapped an eight-week winning streak versus the dollar, as the greenback staged a decent comeback during the second half of the week. The dollar’s recovery was ignited by FOMC minutes on Wednesday and extended through Friday, with the EUR/USD pair pulling back from a 27-month high of 1.1965 to a low of 1.1753.
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Wall Street and Apple: The rally has not been equal for everybody
March 16, 2023
Would you buy a share of a company that has doubled its value in six months and is now worth the entire annual GDP of Italy? Or would you buy an underperforming stock, based on the hope that it will catch up?
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FAANG stocks: Is the rally over?
March 16, 2023
The first significant warning came on Thursday when the S&P 500 dropped 3.5 percent, and the Nasdaq fell 5 percent. It was the second decline in eleven days. Friday was a wild day, with the stocks recovering from sharp retreats and ending with modest losses. In two days, Apple lost almost 10 percent, Alphanet 7.9 percent and Amazon 6.7 percent.
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