The US 100 cash index is currently experiencing a downward trend, trading slightly below the 100-day SMA. Market sentiment remains bearish as investors await key US data releases. This negative sentiment is reflected in various momentum indicators, suggesting a bearish trend in the market. The Average Directional Movement Index (ADX) indicates a decent bearish trend
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Xiaomi, the Chinese smartphone company, has seen overwhelming success with its new electric vehicle, the SU7 sedan. With over 70,000 orders received as of April 20, the company is well on its way to achieving its goal of delivering 100,000 units this year. This comes as a surprise, considering the SU7 is priced $4,000 lower
The recent heavy rains in the United Arab Emirates caused severe flooding, disrupting operations for Emirates and flydubai. With nearly 400 flights cancelled and many more delayed, the airlines faced significant challenges due to the record storm that hit Dubai. This had a cascading effect on the airports, leaving thousands of travellers stranded and hindering
Taiwan Semiconductor Manufacturing Company (TSMC) exceeded revenue and profit expectations in the first quarter of this year, thanks to the strong demand for advanced chips, especially those used in AI applications. The net revenue reported was 592.64 billion New Taiwan dollars ($18.87 billion), surpassing the expected NT$582.94 billion. Moreover, the net income was NT$225.49 billion,
The USD/JPY pair continues to decline as the US Dollar correction exerts pressure on the pair. During the Asian trading hours on Thursday, the pair was seen trading around 154.30, marking its second successive session of losses. The decline in the US Dollar is primarily responsible for the downward trend in the USD/JPY pair. Japan’s
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Bank of America recently released its first-quarter earnings report, which surpassed analysts’ expectations for both profit and revenue. The bank reported earnings of 83 cents per share adjusted, exceeding the expected 76 cents per share. Additionally, revenue came in at $25.98 billion, higher than the anticipated $25.46 billion. Despite a decline in profit of 18%
Morgan Stanley, the renowned financial institution, reported exceptional results in the first quarter of 2022 that surpassed analysts’ estimates. The company outperformed in terms of both profit and revenue, demonstrating the strength of its wealth management, trading, and investment banking divisions. Earnings per share stood at $2.02, significantly higher than the anticipated $1.66, while revenue
The recent data on new home prices in China has shown a significant decline, with prices dropping at the fastest pace in over eight years. This downward trend can be attributed to the debt issues faced by major property developers, which have had a negative impact on demand and the overall economic outlook in the