The news of meme stock trader “Roaring Kitty” buying a 6.6% stake in Chewy sent the shares of the pet food e-commerce retailer soaring in premarket trading. With just over 9 million shares purchased, Roaring Kitty has become the third-largest shareholder in the company, according to FactSet. This move has added more than $245 million
The bid process for the auction of shares in the parent company of Venezuela-owned refiner Citgo Petroleum has hit a roadblock. The U.S. court overseeing the process has been asked to postpone the presentation of the winning bid to September 19. This delay is to allow the court officer evaluating bids more time to complete
When it comes to making financial decisions, it is crucial to conduct your own due diligence. The information available on websites offering financial advice, such as FX Empire, should be taken as general news and not as personalized recommendations. It is essential to consult with your own financial advisors and carefully consider your own financial
The recent announcement of Boeing’s plan to acquire Spirit AeroSystems in a $4.7 billion all-stock deal has sent shockwaves throughout the industry. This strategic move comes after months of negotiations aimed at resolving the crisis that has affected both companies. Boeing highlighted that the total deal value, including debt, stands at approximately $8.3 billion. This
The fluctuation of gold price (XAU/USD) continues on Monday as it struggles to gain traction, oscillating below the $2,330 level during the Asian trading session. Traders are hesitant to make significant moves due to the uncertainty surrounding the Federal Reserve’s rate-cut path, leading to subdued price action. While recent US inflation data supports the likelihood
Japan’s economic landscape is experiencing a mixed outlook, as revealed by a recent central bank survey. While big manufacturers are feeling optimistic with confidence hitting a more than two-year high, the service-sector mood has soured due to rising costs driven by the weak yen. This dichotomy in sentiment poses a challenge for the Bank of
As of Monday’s early Asian session, gold prices are trading in negative territory near $2,325. This decline can be attributed to the recent easing of inflation in the United States, which has reached its lowest annual rate in over three years. Additionally, geopolitical tensions in the Middle East and political uncertainty surrounding France’s parliamentary election
The finalized S&P Global Manufacturing PMI numbers for June have been released, showing a slight increase from the preliminary survey. This could potentially influence market sentiment toward the US economy. The initial survey indicated a rise from 51.3 to 51.7, suggesting a positive trend in the manufacturing sector. However, changes to these numbers may still
In the current market, there has been a notable recovery wave for the EUR/USD pair. The pair started this recovery wave above the 1.0710 resistance level, indicating a positive movement. This recovery wave has allowed the pair to move into a short-term positive zone. Additionally, on the 4-hour chart, a major bearish trend line with
The recent first round of France’s parliamentary elections has left investors and analysts uncertain about the future outcomes. The euro showed a slight increase in value as Marine Le Pen’s National Rally party emerged as the leading party in the initial results. However, the final result is contingent upon further rounds of voting and negotiations.
Australian home prices have continued to rise for the seventeenth consecutive month in June, with a 0.7% increase from May. This upward trend has persisted despite various downside risks such as the country’s cost of living squeeze, high interest rates, housing affordability issues, and strict credit policies from lenders. The CoreLogic Research Director, Tim Lawless,
The Bank for International Settlements (BIS) has issued a warning regarding the potential repercussions of rising government debt levels in the face of upcoming major elections. The BIS, often referred to as the central bankers’ central bank, has expressed concerns about the impact that excessive government debt could have on global financial markets. Despite some
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