News

Venmo, long viewed as a business laggard for PayPal, is generating much faster revenue growth than the overall company.

Amazon is considering showing import charges on items sold via its site for ultra-low-price items, the company confirmed.

Consumer attitude about both the present and near future dimmed again in April.

The US GDP report is due out tomorrow and the consensus is -0.3% but I suspect the market shifted to a worse number in light of the poor trade balance data released today.

“After this morning’s Advance Economic Indicators release from the US
Census Bureau, the standard and alternative model nowcasts of the
contribution of net exports to first-quarter real GDP growth declined
from -4.90 percentage points and -2.85 percentage points, respectively,
to -5.26 percentage points and -4.05 percentage points,” the Atlanta Fed writes.

For tomorrow’s GDP report, the market is more likely to focus on final
sales to domestic purchasers in the GDP report as it will look through some of the trade turmoil.

This article was written by Adam Button at www.forexlive.com.

Sector Overview

Today’s stock market heatmap reveals a mixed bag of performances across various sectors, with the technology sector demonstrating notable resilience. Microsoft (MSFT) stands out with a rise of 0.67%, showcasing investor confidence amidst fluctuating market dynamics. Similarly, Apple (AAPL) has managed a modest gain of 0.41%, maintaining its appeal despite broader market uncertainties.

Conversely, the consumer cyclical sector is witnessing downturns, with Tesla (TSLA) down 1.51% and Amazon (AMZN) falling by 0.93%. These declines may reflect investor caution or sector-specific challenges impacting market sentiment.

Market Mood and Trends

Overall market sentiment appears cautious, with a blend of gains and losses scattered across sectors. Despite some areas of optimism, there is evident wariness among investors, potentially driven by economic indicators and geopolitical factors.

In the financial sector, major players like JPMorgan Chase (JPM) and Berkshire Hathaway (BRK-B) have seen slight declines of 0.44% and 0.38%, respectively. This mixed performance might suggest a wait-and-see approach among investors regarding interest rates and economic policy shifts.

Strategic Recommendations

Given the observed sector dynamics, investors might consider adjusting their portfolios to leverage the strength shown in the tech sector, particularly in giants like Microsoft and Apple. Conversely, caution may be warranted in the consumer cyclical space, where volatility remains a concern.

For investors seeking stability, diversification remains key. Emphasizing a balanced approach that includes both technology staples and stable financial assets may offer protection against upcoming uncertainties. Staying informed with real-time data and market analyses is crucial to navigating these complex landscapes.

For further insights and the latest updates, make sure to visit ForexLive.com! 📈

This article was written by Itai Levitan at www.forexlive.com.

Novo Nordisk is racing to capture more patients now that many compounding pharmacies are restricted from making Wegovy copycats, with rare exceptions.

House Education and Workforce Committee Republicans have released their plan to overhaul the country’s student loan and financial aid system.

The AUDUSD has broken decisively below a key technical zone that includes the 100-hour moving average, the 200-hour moving average, and a well-tested swing area between 0.6390 and 0.6395 (highlighted by red-numbered circles on the chart). That area had served as a support and resistance pivot multiple times in March/April, and the latest break tilts the short-term bias back toward the downside.

Earlier today, buyers pushed the pair above a swing area between 0.6429 and 0.6441, but momentum stalled quickly and ahead of the 200-day moving average at 0.6464, capping the upside.

That gave the sellers the go-ahead to push back to the downside. The break below the aforementioned area between 0.6390–0.6395 zone increases the bearish bias at least the short-term, and now turns that region into a close risk level for sellers. Staying below this area keeps the bearish bias intact.

On the downside, traders will watch the next key target between 0.6321 and 0.63436, where recent lows and swing support levels converge (see green numbered circles). A break below that zone would open the door toward the broader support area near its 100 day moving average at 0.6282. The price last traded below its 100 day moving average back on April 14.

This article was written by Greg Michalowski at www.forexlive.com.

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