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Wednesday, June 26, 2024

American Market Recap: US equities finish on the highs as the bulls fight back

US equities finish on the highs as the bulls fight back

SPX daily US equities slumped early in the day but battled back late in the day on strong bids in Nvidia late to turn a 2% decline into a small gain. Amazon led the way all day as it climbed 4% in a b... 

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Cable falls to six-week low

Cable has sagged to a session low, down 69 pips to 1.2617. That's the lowest since May 14 but roughly in the middle of the 2024 range. What's most-worrisome is the three-day reversal on the chart, whi... 

Pierre Andurand ditches oil in favor of copper and cocoa

Pierre Andurand Famed oil trader Pierre Andurand is out of the oil market, at least for now. His main fund lost around 50% last year on bad bets on crude and he's soured on the sector and now has a 'm... 

Heavy industry employment will be crushed by AI

Jensen Huang Shares of Nvidia are down 2.1% today after trading higher earlier. It's been volatile in the past week after rising to briefly become the world's most-valuable company. Nvidia Chief Execu... 

Credit Agricole: EUR oversold and CHF overbought according to positioning model

EUR/CHF daily Credit Agricole's latest G10 FX PIX 2.0 model indicates significant shifts in currency positioning. The EUR is now deemed oversold, while the CHF has turned overbought. These findings ar... 

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Amazon shares rise to record high, crossing $2 trillion valuation

Amazon daily chart Shares of Amazon are catching a bid today, rising 3.1% to an all time high. The climb above $192 along with 10.406 billion shares outstanding puts the company above a $2 trillion ma... 

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