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Shares of sportswear goods maker Nike soared over 13% in post markets on Tuesday after its fiscal first quarter earnings smashed analysts’ estimates. Nike shares rose over 3% on Tuesday in normal trading hours are up over 16% for the year, outperforming the S&P 500. Nike reported revenues of $10.59bn in the fiscal first quarter…
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Shares of electric vehicle start-up Nikola tumbled over 19% yesterday after the surprise exit of its founder and Executive Chairman Trevor Milton. The move comes a few days after Hindenburg Research accused the company of “deception.” Nikola shares have been very volatile this year Nikola shares have been very volatile this month. The stock fell…
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US airline stocks plunged yesterday following a broad-market scare triggered by a worsening virus situation in Europe. The US Global JETS (JETS) exchange-traded fund, which tracks the largest airlines in the North American country, shed more than 1 point, losing 6.5% of its value during the day while ending yesterday’s stock trading session at $17 per…
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The general consensus on gold prices seems to be that an upward trend is expected for the foreseeable future, but just how far up will the yellow metal go in the near to medium term? It depends entirely on whom you ask. The next major milestone: $2,000 an ounce Gold prices have been in the…
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Over the last two weeks, US tech stocks have looked weak and driven down markets from their record highs. Is a sector rotation underway from tech stocks, and can you benefit from it? The Nasdaq 100 index lost almost 1.5% yesterday and closed at 11,080. This month, the index has closed with losses in seven…
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At its policy meet on Wednesday, the US Federal Reserve signaled that it does not intend to raise rates at least until 2023. Lower interest rates and macroeconomic uncertainty is positive for gold that’s anyways among the best performing asset class this year. Gold prices rose 0.31% yesterday and closed at $1,959.6 per ounce. Last…
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The International Energy Agency (IEA) slashed its oil demand forecast for the year by 300,000 barrels per day, citing a resurgence in virus cases in multiple countries and weak activity in the aviation industry as the drivers behind the revised outlook. In its widely-followed monthly oil markets report, which was released this morning, the IEA…
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Nikola shares that closed 11.4% higher on Monday were trading down over 5% in pre markets today amid reports that the US Securities and Exchange Commission (SEC) is investigating the company over allegations made by short seller Hindenburg Research. Last week, Hindenburg Research, which is short on Nikola stock and benefits it goes down, accused…
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Microsoft has said that ByteDance, the owner of popular social video app TikTok, has rejected its proposal to acquire TikTok’s US operations. While markets presumed that ByteDance has chosen Oracle, Chinese media has reported that ByteDance wouldn’t be selling the operations to Oracle also. Oracle shares were however up sharply in pre markets today. Last…
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The US dollar – tracked by the US dollar index – is taking another breather this morning after losing 0.37% yesterday, currently sliding by 0.16% in early forex trading activity ahead of the European Central Bank policy meeting taking place on Wednesday and Thursday. However, the greenback is only losing against the euro and the…
