Some questions about candlestick patterns for leading tech names have led me to focus on possible downside targets for the S&P 500. Because if the mega-cap growth stocks start to falter, it could be a dangerous summer for our growth-dominated benchmarks. This week we saw bearish candlestick patterns for major technology names, with Nvidia Corp … Read more
Traders work on the floor of the New York Stock Exchange during afternoon trading on January 22, 2024 in New York City. Michael M Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open updates investors with everything they need to know, … Read more
LONDON — Britain had some reason to celebrate Wednesday morning as headline inflation hit the Bank of England’s 2% target for the first time in almost three years. But the print only served to convince further traders that an interest rate cut is not imminent. Money market pricing at 11am in London implied only a … Read more
Money market pricing at 11am in London implied just a 5% probability of a bank rate cut at Thursday’s BOE meeting – after registering stronger odds earlier in the week. Bets on an August cut were also cut to around 30%. While 2% inflation is an important milestone – not least as UK politicians set … Read more
LONDON — British fintech company Zilch said Wednesday it has raised $125 million in debt financing from German banking giant Deutsche Bank in a deal that will help the company triple revenue in coming years and move closer to an initial public offering. The company, which offers shoppers the ability to purchase items and pay … Read more
Sun Jun 2, 2024 7:29 PM EDT CNBC Pro: Profits at these five global banks will remain high despite an ECB rate cut, Berenberg says Despite a rate cut expected this week, profits at a handful of major European banks will remain robust, according to Berenberg. One of the lender’s shares could rise more than … Read more
In this photo illustration, the Nvidia logo appears on a smartphone screen and in the background. Rafael Henrique | SOPA images | Light rocket | Getty Images This report is from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open updates investors with everything they need to know, wherever they are. … Read more