The USD/ZAR exchange rate rose by a few pips today, July 9, as crude oil prices rose following the new strikes in the Middle East. It jumped to 16.50 on Wednesday and then pulled back a bit to 16.37. South African rand falls as geopolitical tensions rise The South African rand softened a bit after… Continue reading USD/ZAR forecast: falling wedge points to a South African rand pullback
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Hang Seng Index rally has stalled: what next for Hong Kong stocks?
The Hang Seng Index retreated to 24,011 on Thursday, paring back some of the gains made a day earlier. This drop mirrored developments in key markets like in the United States and South Korea. Still, the potential rotation to Hong Kong stocks may push it higher, potentially to 25,000. Rotation to Chinese equities possible The… Continue reading Hang Seng Index rally has stalled: what next for Hong Kong stocks?
Samsung, SK Hynix power Asia rebound while oil shock rattles bonds
Asian equities found support from the one corner of the market investors are still reluctant to abandon: semiconductors. Chipmakers rebounded on Thursday after several days of heavy selling, helping lift benchmarks in Japan and South Korea. But the rally was not broad enough to erase the bigger macro risk. Oil jumped after renewed US-Iran hostilities,… Continue reading Samsung, SK Hynix power Asia rebound while oil shock rattles bonds
Kospi Index is in a bear market: is the South Korean party over?
The Kospi Index has retreated into a technical bear market after falling by 23% from its highest point this year. This sell-off continued today as it plunged to its lowest level since May 20th. So, will the blue-chip index fall further, or will it stage a comeback? Why the Kospi Index has plunged The Kospi… Continue reading Kospi Index is in a bear market: is the South Korean party over?
Dow falls over 500 points as Trump-Iran tensions send oil prices higher
The Dow Jones Industrial Average fell sharply on Wednesday as renewed tensions between the United States and Iran rattled financial markets, sending oil prices higher and prompting investors to reassess geopolitical risks. The blue-chip index dropped 577 points, or 1.1%, while the S&P 500 slipped 0.3%. The Nasdaq Composite bucked the broader market weakness, rising… Continue reading Dow falls over 500 points as Trump-Iran tensions send oil prices higher
Evening digest: US Iran tensions lifts oil, Bitcoin dips
Escalating tensions between the United States and Iran dominated global markets on Wednesday after President Donald Trump signaled the possibility of further military action. Oil prices surged as investors assessed the risk of supply disruptions through the Strait of Hormuz. Gold prices fell as higher energy costs fueled inflation concerns and strengthened expectations that the… Continue reading Evening digest: US Iran tensions lifts oil, Bitcoin dips
MasTec stock jumps as $1.65B Superior deal boosts AI data center push
MasTec Inc. (MTZ) shares climbed about 6% on Wednesday after the infrastructure engineering and construction company announced a $1.65 billion acquisition of electrical contractor The Superior Group. The deal expands its presence in the rapidly growing data center infrastructure market. The cash-and-stock transaction, which is expected to close in mid-to-late July, subject to customary approvals,… Continue reading MasTec stock jumps as $1.65B Superior deal boosts AI data center push
FCEL, BE stocks sink, but only one is worth buying on the dip
FuelCell Energy (FCEL) and Bloom Energy (BE) shares are taking a significant hit on Wednesday morning, but they are declining for completely different, company-specific reasons. And while both FCEL and BE have their RSIs in the mid-40s after the sell-off, indicating the stocks are headed toward “oversold” territories, only one of them is worth buying… Continue reading FCEL, BE stocks sink, but only one is worth buying on the dip
Why isn’t Battalion Oil stock soaring as Trump said Iran deal is over
Battalion Oil (BATL) shares are slipping this morning even after President Donald Trump said the ceasefire deal with Iran is over and that the US will “hit them hard tonight.” While Trump’s remarks throw a textbook bullish catalyst at the energy sector, as evidenced by the rising oil prices today, BATL is decoupled from the… Continue reading Why isn’t Battalion Oil stock soaring as Trump said Iran deal is over