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73.15 - 75.1453

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@kenneth.ajakaiye #vpatraders
recently

Thanks email sent and await the reply as well as the MT4/5 upgrades. Please remember the Cryptocurrency Strength Indicator (CCSI) for MT4/5 as well as the Dynamic Accumulation and Distribution Indicator amongst the other Volume Indicator Upgrades and if possible a look alike Dashboard Summary like we have for Trading View so we can have same for MT4/5. > @coulldc said: @kenneth.ajakaiye Hi Kenneth - first of all many thanks for your kind words. which are much appreciated, and thank you also for your endless patience. Indeed, thank you to all QTE students who I know have been waiting for some time for the program to be launched. It has been a labour of love and took us twice as long as we were planning, in fact exactly 2 years from start to finish, but we finally released it late last week and you can find all the details on the new home page of quantum trading at https://quantumtradingeducation.com. For all our forex students, all you pay is for the education element of the program, as you already have the full suite of tools and indicators, and now that the program is launched, the next job for the development team is to add these to the two remaining platforms of MT4/5 and Tradestation which will be the focus in the next few weeks, so that all four platforms are equivalent. If you do want to upgrade, all you need to do is email helpdesk@quantumtradingeducation.com, and Chris or one of the team will help you to get started and create a coupon for you to apply in the shop. Just head the email - Upgrade To Stock Program - and they will do the rest. Finally, thanks once again for your patience, and Anna and I look forward to welcoming you to the standard or XT program in due course. It's been a long time coming, but we made it in the end, and we both fervently hope it overdelivers in all your stock trading and investing endeavors, with all our very best wishes from us both, Anna and David.

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CO
@coulldc #vpatraders
recently

@kenneth.ajakaiye Hi Kenneth - first of all many thanks for your kind words. which are much appreciated, and thank you also for your endless patience. Indeed, thank you to all QTE students who I know have been waiting for some time for the program to be launched. It has been a labour of love and took us twice as long as we were planning, in fact exactly 2 years from start to finish, but we finally released it late last week and you can find all the details on the new home page of quantum trading at https://quantumtradingeducation.com. For all our forex students, all you pay is for the education element of the program, as you already have the full suite of tools and indicators, and now that the program is launched, the next job for the development team is to add these to the two remaining platforms of MT4/5 and Tradestation which will be the focus in the next few weeks, so that all four platforms are equivalent. If you do want to upgrade, all you need to do is email helpdesk@quantumtradingeducation.com, and Chris or one of the team will help you to get started and create a coupon for you to apply in the shop. Just head the email - Upgrade To Stock Program - and they will do the rest. Finally, thanks once again for your patience, and Anna and I look forward to welcoming you to the standard or XT program in due course. It's been a long time coming, but we made it in the end, and we both fervently hope it overdelivers in all your stock trading and investing endeavors, with all our very best wishes from us both, Anna and David.

62 Replies 10 👍 12 🔥

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@Trader7 #Trader24
recently

**Intel Joins the AI Race** Intel Corp. joined the competition of AI chip manufacturing among its peers (Nvidia and AMD), by introducing last week its brand-new Gaudi 3, a chip for generative AI software which will be launched in 2024. In fact, the company has been working on developing Gaudi chips after acquiring chip developer Habana Labs in 2019. According to the officials, Gaudi 3 works two times faster networking performance, 1.5x higher bandwidth compared to Gaudi 2, and four times higher than BF16 (a new floating-point format that can accelerate machine learning algorithms) performance. https://analysis.hfeu.com/en-eu/754946/

48 Replies 6 👍 9 🔥

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@Trader7 #Trader24
recently

**Market Recap: Focal BoJ ahead & the very last key US data** Markets are starting to wind down for the year. The four major central banks, the FOMC, ECB, BoE, and SNB all left policy rates unchanged, and most dialed back their hawkish biases. But while officials tried to push back and say that early rate cuts are not on the table, the markets quickly equated the steady stance and shift in bias to pricing in rate cuts sooner than later. Indeed, the markets ran with expectations for easing as soon as the first half of the year, if not March for the FOMC. https://analysis.hfeu.com/en-eu/754922/

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@trademaster #TradeHouses
recently

By Laura Sanicola and Andrew Hayley (Reuters) -Oil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar. Brent futures rose 21 cents to $76.82 a barrel at 0640 GMT. U.S. West Texas Intermediate (WTI) crude climbed 20 cents to $71.78. Both benchmarks are on course for a modest weekly gain, having been lifted by a mid-week announcement from the U.S. Federal Reserve that it is likely to cut borrowing costs next year. "Oil prices may see a bit of a 'demand pull' due to improved liquidity conditions after the Fed's dovish pivot," said Kelvin Wong, an analyst at OANDA in Singapore. The dollar fell to a four-month low on Thursday after the U.S. central bank indicated interest rate hikes have likely ended and lower borrowing costs are coming in 2024. A weak dollar makes dollar-denominated oil cheaper for foreign purchasers. The European Central Bank, meanwhile, pushed back against bets on imminent cuts to interest rates on Thursday by reaffirming that borrowing costs would remain at record highs despite lower inflation expectations. World oil consumption will rise by 1.1 million barrels per day (bpd) in 2024, the IEA said in a monthly report, up 130,000 bpd from its previous forecast, citing an improvement in the outlook for U.S. demand and lower oil prices. The 2024 estimate is less than half of the Organization of the Petroleum Exporting Countries' (OPEC) demand growth forecast of 2.25 million bpd. Weak economic data from China, the world's second-largest oil consumer, has added pressure on oil prices in recent weeks. Data released by the country's statistics bureau on Friday showed refinery runs in November dropped to their lowest level since the start of 2023, as margin pressure on non-state owned refiners saw them cut back production, while sluggish diesel consumption weighed on national fuel demand. Despite ongoing woes in China's property market, the data also showed a better-than-expected performance in industrial output and improving retail sales, lending some relief to market sentiment amid the country's anaemic post-COVID economic recovery.

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@trademaster #TradeHouses
recently

SINGAPORE (Reuters) -Oil prices ticked up on Tuesday but investors remained cautious ahead of key interest rate decisions and inflation data releases, while concerns over excess supply and slowing growth in demand kept a lid on gains. Brent crude futures for February were up 47 cents, or 0.6%, at $76.50 a barrel as of 0644 GMT, while U.S. West Texas Intermediate crude futures for January delivery gained 50 cents, or 0.7%, to $71.82 a barrel. "All attention will be on the U.S. CPI data today to potentially set the tone for U.S. policymakers at their upcoming meeting," Yeap Jun Rong, market analyst at IG, said in a note. The U.S. Consumer Price Index (CPI) report is due on Tuesday, while the Federal Open Markets Committee's (FOMC) two-day monetary policy meeting will end on Wednesday. The U.S. Federal Reserve is widely expected to hold rates steady on Wednesday, but the November Fed minutes showed that policymakers were still concerned that inflation could be stubborn, leaving the door open for additional tightening if needed. "Further inflation progress will be on watch to validate the effectiveness of current restrictive policies in place and give more room for the Federal Reserve (Fed) to consider rate cuts in 2024 if economic conditions worsen," said Yeap. Also providing a lift to oil prices, a cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker, causing a fire and damage but no casualties, two U.S. defence officials told Reuters on Monday. The strike is one of the latest attacks by the Iran-aligned Houthis against ships in the Red Sea, escalating geopolitical tension in the region and heightening safety risks for tankers in vital shipping lanes. Meanwhile, European Union countries are close to agreeing to a deal on a proposed 12th package of sanctions on Russia, focused on a Russia-origin diamond ban and new measures to stem the flow of Russian oil, according to four people familiar with the matter. However, oil investors remain sceptical that total supply will drop after the OPEC+ group pledged to cut 2.2 million barrels per day (bpd) for the first quarter of 2024, as output growth in non-OPEC countries is expected to lead to excess supply next year. The voluntary cut may not be long enough, analysts and traders said, as crude oil physical and futures prices show increasing signs of surplus ahead of their implementation. "Growth at U.S. shale oil operations continues to surprise on the upside, while gains across other non-OPEC producers have been unexpectedly large," said ANZ Research analysts in a note. Both WTI and Brent are in a contango market structure, when prompt contracts are lower than later-dated contracts, for the first several months of 2024. That indicates that investors feel there is lower demand for crude or adequate supply for those months. "The market should get a fresh take on fundamentals when OPEC and the International Energy Agency release their monthly oil market reports this week. The oil market is also watching negotiations at COP28," said ANZ analysts. A coalition of more than 100 countries had been pushing for an agreement that would for the first time promise an eventual end to the oil age, but are up against opposition from OPEC members.

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@trademaster #TradeHouses
recently

By Rae Wee SINGAPORE (Reuters) -The yen extended its sharp rally on Friday and marched toward its best week against the dollar in nearly five months, as traders ramped up expectations that the end of Japan's ultra-low interest rates was nearing. The broad strength in the yen kept a lid on the dollar, which also stayed on the defensive ahead of the closely-watched U.S. nonfarm payrolls report due later on Friday. Bank of Japan (BOJ) Governor Kazuo Ueda said on Thursday the central bank had several options on which interest rates to target once it pulls short-term borrowing costs out of negative territory. Ueda had on the same day met with Prime Minister Fumio Kishida. Markets took those comments as the clearest sign yet that the BOJ could soon phase out its ultra-loose monetary policy and catapulted the yen to multi-month highs against its major peers. Against the dollar, the yen was last nearly 0.3% higher at 143.74, having surged more than 1% against the greenback earlier in the session. The yen had gained over 2% on Thursday, its largest daily rise since January, and was likewise set to end the week with a more than 2% jump. "Obviously, the markets got very excited," said Ray Attrill, head of FX strategy at National Australia Bank (OTC:NABZY) (NAB). The yen had, as recently as a month ago, fallen to a one-year low of 151.92 per dollar, coming under pressure as a result of growing interest rate differentials with the United States. The weakening yen previously kept traders on edge over potential intervention from Japanese authorities to prop up the currency as it had done last year. Sterling fell to a two-month low of 179.56 yen on Friday and against the euro, the Japanese currency last stood at 155.15, not too far from the previous session's four-month peak of 153.215 per euro. Attention now turns to the BOJ's upcoming two-day monetary policy meeting on Dec. 18 for clues on whether the ultra-dovish central bank will indeed signal a policy shift. "I think a lot of us have felt that we were going to have some sort of more meaningful policy change this year, and we've been disappointed. So I'm a bit reluctant to jump on the bandwagon and say that (a change) is going to happen on the 19th," said NAB's Attrill. "But obviously, there's no smoke without fire... So I guess the market is understandably taking the view that the December meeting is live now." Separately, revised data on Friday showed Japan's economy shrank more sharply than first estimated in the third quarter. ALL EYES ON PAYROLLS In the broader market, the dollar largely drifted sideways, with currency moves outside of the yen subdued ahead of U.S. jobs data. The euro steadied at $1.0783 and was eyeing a weekly decline of more than 0.9%, while sterling last bought $1.2595 and was similarly headed for a weekly fall of nearly 1%. The U.S. dollar index was little changed at 103.67 and on track to gain more than 0.4% for the week. That would snap three straight weeks of declines, as the greenback attempts to stem losses from its heavy selloff in November. "I'm more interested in seeing what happens with the unemployment rate and what happens with average earnings than the nonfarm payrolls numbers," said NAB's Attrill. "Obviously, if we get a big shock on the payrolls - a big downside or upside surprise - the markets' initial reaction will be governed by that." Elsewhere, the Australian dollar rose 0.17% to $0.6613. In China, the yuan weakened against the dollar and was poised to snap a three-week winning streak. Data on Thursday showed the country's exports grew for the first time in six months in November, though imports unexpectedly shrunk. Concerns over the country's growth outlook continue to mount, with investor sentiment still fragile on the back of an uneven post-COVID recovery in the world's second-largest economy. Moody's (NYSE:MCO) had, earlier this week, slapped a downgrade warning on China's credit rating, and followed up a day later with cuts to its outlook on Hong Kong, Macau and swathes of China's state-owned firms and banks. "Moody's downgrade of China's rating outlook was motivated by concern over China's rising debt levels and possible need to bailout local state-owned enterprises," said William Xin, fixed income portfolio manager at M&G Investments, though he said the move had "failed to consider" Chinese policymakers' emphasis on reducing debt over the years.

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@trademaster #TradeHouses
recently

By Kevin Buckland TOKYO (Reuters) -Asia-Pacific equities gained on Wednesday as bets firmed for a peak in interest rates among major central banks globally, pushing down bond yields. Benchmark 10-year Japanese government bond yields dipped to their lowest since mid-August at 0.62%, tracking an overnight slide for equivalent U.S. Treasury yields as cooling labour market data cemented views that the Federal Reserve is done raising rates. U.S. 10-years touched a three-month trough of 4.163% on Tuesday before ticking up slightly to 4.195% in the latest session. Bets on a first Fed cut coming by March now stand at about 64%, according to the CME Group's (NASDAQ:CME) FedWatch tool. Lower borrowing costs boosted equity markets, with big tech a particular beneficiary. Japan's Nikkei surged more than 2%, rebounding from Tuesday's mid-November low, while Australia's stock benchmark jumped 1.65%. Chinese equities started out weak, still feeling the effects of a Moody's (NYSE:MCO) downgrade warning over China's credit rating on Tuesday. However, Hong Kong's Hang Seng bounced back to be up about 1%, supported by a rally in tech, with a sector subindex climbing 1.7%. Mainland Chinese blue chips flipped from early losses to be up 0.38%. U.S. stock futures pointed higher, with the tech-heavy Nasdaq indicated up 0.41% after a 0.31% advance overnight for the cash index. S&P 500 futures rose 0.29%, after the cash index ended Tuesday flat. U.K. FTSE futures, Germany's DAX futures and pan-European EURO STOXX 50 futures each added about 0.3%. Overnight, U.S. jobs figures came in softer than expected, but coupled with robust services data, added to the narrative for a soft landing for the economy as the Fed shifts to monetary easing, analysts said. The "selloff in yields across the curve is strong evidence of the intense focus the market has on this week's labour market data," with the ADP employment report due on Wednesday and non-farm payrolls on Friday, said IG analyst Tony Sycamore. For the Nasdaq, "although we remain bullish into year-end, we are not contemplating opening fresh longs at these levels," Sycamore added, recommending buying on dips instead. With markets all but certain the Fed's next move is a cut, dovish rhetoric from European Central Bank officials and the Reserve Bank of Australia's decision to hold policy steady on Tuesday have stoked bets for a peak in rates globally. The Bank of Canada is widely expected to adopt a wait-and-see attitude on Wednesday as well. That has supported the U.S. currency's rebound from last week's nearly four-month low versus major peers, with the U.S. dollar index steady around 103.95 on Wednesday, compared with a trough of 102.46 a week ago. "The USD weakened when the Federal Reserve looked like they were cutting while other central banks were holding tight," said James Kniveton, a senior corporate FX dealer at Convera in Melbourne. "Now that looks to be changing, and other central banks are following the Fed's lead." The dollar added 0.06% to 147.22 yen, while the euro slipped 0.04% to $1.0792. Bitcoin was slightly lower at around $43,560 after pushing as high as $44,490 overnight, buoyed by both Fed rate cut expectations and speculation U.S regulators will soon approve exchange-traded spot bitcoin funds. Gold edged up 0.2% to $2,023, catching its breath following its surge to a record $2,135.40 on Monday. Crude was steady on Wednesday, nursing its wounds after closing at five-month lows in the previous session amid a worsening demand outlook from China and doubts about the impact of OPEC cuts. [O/R] Brent crude futures added 1 cent to $77.21 a barrel, while U.S. WTI crude futures were down 4 cents at $72.28 a barrel.

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@trademaster #TradeHouses
recently

Investing.com-- Gold prices rose in Asian trade on Wednesday, reaching a near seven-month high as a string of dovish signals from Federal Reserve officials ramped up bets on an early pivot by the central bank. A drop in the dollar- to near four-month lows, benefited the yellow metal, as did retreating U.S. Treasury yields. The 10-year rate fell to a two-month low in Asian trade. Caution before a string of key economic readings this week- from the U.S. and China- also kept safe haven demand for gold upbeat, especially as a several weak readings from Japan and the euro zone fed concerns over a global economic slowdown. Spot gold rose 0.1% to $2,044.08 an ounce, while gold futures expiring in December rose 0.2% to $2,044.20 an ounce by 23:27 ET (04:37 GMT). Spot prices were now about $30 away from a record high touched earlier this year. Gold underpinned by Fed pivot bets, set for bumper November Fed officials said in separate overnight comments that the bank needed to be more cautious in keeping rates higher for longer, and that easing inflation may spur the bank into loosening policy earlier than expected. Fed Governor and noted hawk Christopher Waller said that high rates had quashed inflation sufficiently this year, and that a further decline in price pressures will likely see the bank begin cutting interest rates. His comments saw traders pricing in an at least 40% chance that the Fed will cut rates by as soon as March 2024, and that the central bank will keep rates on hold in December. Waller and other Fed officials have just this week to offer more cues on monetary policy, before the blackout period ahead of the Fed’s mid-December meeting. Chairman Jerome Powell is also set to speak later this week. The prospect of a shift in the Fed’s hawkish stance spurred strong gains in gold through November, with the yellow metal now set to add over 3% for the month. Any potential rate cuts by the Fed are likely to benefit gold markets, given that higher rates push up the opportunity cost of investing in the yellow metal. Tony Sycamore, analyst at IG Markets called the trend a “perfect environment for gold” in an interview with Ausbiz. Copper upbeat as supply disruptions help ease China jitters Among industrial metals, copper prices were flat on Wednesday as supply disruptions in Peru and Panama helped ease uncertainty before key Chinese economic data this week. Copper futures expiring in March were flat at $3.8460 a pound after rallying 1.5% so far this week. Weakness in the dollar also aided copper prices. A copper mine operated by Canadian miner First Quantum (NASDAQ:QMCO) was ordered to shut down by the Panama government on the grounds that its contract was unconstitutional. This also coincided with a planned strike at MMG Ltd’s Las Bambas copper mine in Peru. The output disruptions pointed to tighter copper markets in the coming months- a trend that could support prices of the red metal. But markets remained largely on edge before key purchasing managers index data from China, which is expected to show a continued decline in manufacturing activity in the world’s largest copper importer.

96 Replies 7 👍 12 🔥

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@dros #droscrew
recently

FED MAY NEED FOUR YEARS TO RECOUP INCOME LOSS (Reuters) The Federal Reserve will need nearly four more years to cover a historic operating loss and start sending profits again to the U.S. Treasury, according to new research from the Federal Reserve Bank of St. Louis.

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@trademaster #TradeHouses
recently

By Brigid Riley TOKYO (Reuters) -The U.S. dollar ticked down to a three-month low against peer currencies on Tuesday after slipping overnight on weaker-than-expected new home sales data, while traders hunkered down on bets that the Federal Reserve could start cutting interest rates in the first half of next year. U.S. new home sales fell 5.6% to a seasonally adjusted annual rate of 679,000 units in October, data showed, below the 723,000 units expected by economists polled by Reuters and sending Treasury yields into a decline. The dollar index, a measure of the greenback against a basket of currencies, was last at 103.16, hanging around its lowest since Aug. 31. The dollar was track for a loss of more than 3% in November, its worst performance in a year. Market expectation that the Fed's rate increase cycle has finally come to an end has also put downward pressure on the greenback. U.S. rate futures showed about a 25% chance that the Fed could begin cutting rates as early as March and increasing to nearly 45% by May, according to the CME FedWatch tool. "Slowing growth momentum, peak rates, rate cuts next year, and unwinding of long positioning: it's the dynamic feeding a weaker U.S. dollar and driving the entire currency complex," said Kyle Rodda, senior financial market analyst at Capital.com. "Anything that brings that trend into question will change the outlook; however, the bar for that to happen is high," he added, saying the dollar likely has more room to fall. Traders are now eyeing U.S. core personal consumption expenditures (PCE) price index - the Fed's preferred measure of inflation - this week for more confirmation that inflation in the world's largest economy is slowing. PCE tops off a slew of other key economic events this week, including Chinese purchasing managers' index (PMI) data and OPEC+ decision. After delaying its policy meeting to this Thursday, OPEC+ is looking at deepening oil production cuts, according to an OPEC+ source. Elsewhere, the Australian dollar briefly touched a near four-month high of $0.6632 against the greenback before easing to $0.6621. Data out Tuesday morning showed that domestic retail sales in October declined from the previous month. The kiwi also momentarily hit its highest since Aug. 10 at $0.6114 before sliding back down to $0.61015. The Reserve Bank of New Zealand has its monetary policy meeting on Wednesday, where it is expected to keep interest rates steady at 5.50% for the fourth straight time. Elsewhere, the yen made up some ground on Tuesday in the wake of continued dollar weakening, with dollar/yen inching down around 0.3% to 148.21 yen per greenback. The Japanese currency may, however, be in for some turbulence depending on the outcome of this week's inflation data from the United States. "The risk for dollar bears is that U.S. PCE inflation does not come in as soft as hoped," said Matt Simpson, senior market analyst at City Index. "That leaves (dollar/yen) vulnerable to a bounce this week."

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@trademaster #TradeHouses
recently

S&P 500 (SPX) recorded the fourth consecutive weekly close last week, ultimately closing at the highest level since July. It also marks the longest weekly run since June. The benchmark U.S. stock market index is now testing key resistance near 4560, which is shaped by the trend line that connects the record high and 2023 high. Similarly, the Dow Jones Industrial Average (DJI) added 1.3% to also hit the downward trend line that connects recent swing highs. On the other hand, the Nasdaq Composite Index (IXIC) rose 0.9% but still managed to secure a weekly close above the key trendline, which will now provide support if the pullback occurs. Looking forward to this week, the Consumer Confidence report is out on Tuesday. On Wednesday, the Q3 GDP reading is expected to be released. A set of inflation-focused data is set to be out on Thursday, including personal income data for October. Manufacturing PMI and ISM manufacturing data is scheduled for Friday. Fed’s speakers, including Governor Waller and Presidents Goolsbee and Mester, are all scheduled to speak this week. On the earnings front, the most notable reporters include Zscaler (NASDAQ:ZS), Intuit (NASDAQ:INTU), Workday (NASDAQ:WDAY), Crowdstrike (CRWD), Salesforce (NYSE:CRM), and Snowflake (NYSE:SNOW). The list also includes Dollar Tree (NASDAQ:DLTR), Dell Technologies (NYSE:DELL), Marvel (MRVL), Kroger (NYSE:KR), Ulta Beauty (NASDAQ:ULTA), and UiPath (NYSE:PATH). What analysts are saying about US stocks Analysts at Oppenheimer: “Our feel is that bearish investors that largely missed S&P 500 gains in 2023 are gravitating towards the Russell 2000 in belief there’s greater potential in lagging benchmarks—we disagree. We maintain our preference for the S&P 500 given its weighting to Technology.” Analysts at BofA: “We expect CTA buying in the S&P 500 [this] week as the index has gained greater than 1% in each of the last four weeks turning its trend strength positive for the first time since early October. Our model initiated a long position [the] past week that will rapidly increase along any price path [this] week.” Analysts at Citi: “More S&P 500 companies are expected to positively contribute to index-level growth, fewer are projected to be significant detractors, and underlying EPS growth variation is set to decline… Ultimately, it supports our view that S&P 500 EPS can turn higher even as macro concerns linger.” Analysts at BTIG: “The Short-term Volatility Index (VIX9D) closed below 10 last week, the lowest reading since Jan. 2020. Volatility is a funny thing because it is often mean reverting, unless we are in a new regime… While we continue to expect some rotation into laggards, we don't think we are in a new regime and therefore as we head into December, a sub-13 VIX is likely a yellow light.” Analysts at Roth MKM: “As we enter the last few trading days of November, we find the S&P 500 could put in its best monthly gains of the year. Seasonal tailwinds often blow into December. The question becomes, can the indices hold their ground into year-end… We found when discretionary experienced an extremely strong November, similar to this month, positive returns were likely to follow in December.”

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@trademaster #TradeHouses
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Investing.com -- Oil prices retreated Tuesday, handing back some recent gains amid caution ahead of the weekend’s eagerly-awaited meeting of a group of top producers. By 09:45 ET (13.45 GMT), the U.S. crude futures traded 1% lower at $77.04 a barrel, while the Brent contract dropped 1% to $81.54 a barrel. The crude benchmarks gained around 2% on Monday, adding on to Friday’s 4% rise, after Reuters reported that the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, is set to consider whether to make additional oil supply cuts to shore up prices when it meets on Nov. 26. OPEC+ meeting looms large Saudi Arabia, Russia and other members of OPEC+ have already pledged oil output cuts of about 5 million barrels per day, or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a voluntary reduction by Saudi Arabia of one million barrels per day and a 300,000 barrels a day cut in Russian oil exports, both of which last until the end of 2023. “Growing expectations that we will see some action taken by OPEC+ at their upcoming meeting this weekend are providing support,” said analysts at ING, in a note. “Speculators will not want to go into this weekend with sizeable short positions. Given expectations, we will likely have to see at least Saudi Arabia rolling over their additional voluntary cut into 2024.” That said, even if OPEC+ extends the cuts into next year, the global oil market will still see a slight surplus of supply in 2024, said Toril Bosoni, the head of the International Energy Agency's oil markets and industry division earlier Tuesday. Fed minutes awaited, dollar battered by rate pause bets Weakness in the US Dollar Index -- which has dropped to a 2-½ month low – was also a major support point for oil and other commodities priced in the greenback. A drop in the dollar came as traders priced in bets that the Fed was done raising interest rates, and could potentially begin cutting rates by as soon as March 2024. The minutes of the Fed’s late-October meeting, which are due later on Tuesday, are expected to shed more light on this notion. U.S. inventories also due Despite the recent gains, oil has dropped about 16% since late September, posting four straight weeks of losses, on concerns of worsening demand, and as crude output in the U.S., the world's top producer, held at record highs. Data released last week showed a bigger-than-expected increase in U.S. oil inventories, and the latest U.S. inventory reports are forecast to show crude and stockpiles rose again the following week. This week's first report from the American Petroleum Institute is due later Tuesday, followed by the official numbers from the Energy Information Administration, on Wednesday. (Ambar Warrick contributed to this item.)

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@Steve1971 #decarolis
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Saudi Arabia prepares to prolong Oil reductions into Spring, after price hits four-month low of $77 - FT. (financial juice)

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@trademaster #TradeHouses
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By Florence Tan SINGAPORE (Reuters) -Oil prices were little changed on Friday but on track for their fourth straight week of losses after tumbling about 5% to a four month-low on Thursday on worries over global demand. Brent futures edged up 4 cents, or 0.1%, to $77.46 a barrel at 0529 GMT. U.S. West Texas Intermediate crude (WTI) was at $72.95, up 5 cents, or 0.1%. Both have lost around a sixth of their value over the last four weeks. "Oil prices are down slightly this year despite demand exceeding our optimistic expectations," Goldman Sachs analysts said in a note. "Non-core OPEC supply has been much stronger than expected, partly offset by OPEC cuts." Prompt monthly spreads for both contracts have flipped to contango, a market trend where prompt prices are lower than those in future months indicating healthy supply. Oil's decline this week was mainly triggered by a steep rise in U.S. crude inventories and production sustaining at record levels, which analysts say triggered concerns of weak demand in the world's largest oil consumer amid high output. JPMorgan commodities research said on Friday its global oil demand tracker showed demand averaged 101.6 million barrels a day (bpd) in the first half of November, running 200,000 bpd lower than its projection for the month. Analysts said that the recent drop in prices is also likely to make Saudi Arabia extend its additional voluntary oil output cut of 1 million bpd into 2024. "It has become clearer that the oil balance for the remainder of this year is not as tight as initially expected," ING analysts said in a note. "As things stand, the market is still expected to return to surplus in 1Q24." A rollover of additional Saudi supply cuts into early 2024 should help erase the expected surplus and provide some support to the market, ING said.

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@dros #droscrew
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MORGAN STANLEY: Sees .. * first Fed cut in June * four cuts next year * eight cuts in 2025 [Zentner]

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Investing.com -- Headline inflation in the U.S. slowed by more than expected in October, in a boost for Federal Reserve officials keen on corralling price pressures in the world's largest economy. The Labor Department's U.S. consumer price index (CPI) rose by 3.2% in October on an annualized basis, decelerating from a rate of 3.7% in September, due in large part to a fall in gas prices. It was the yearly reading's first decline in four months. Month-on-month, the measure was unchanged, down from an uptick of 0.4%. Economists had seen the figures at 3.3% annually and 0.1% from the prior month. Bringing inflation back down to the Fed's 2% target rate has been the major objective of a long-standing series of interest rate hikes by the central bank, meaning that policymakers will likely welcome a renewed cooling in price growth. Core CPI, which takes out more volatile items like food and energy, rose by 4.0% annually and 0.2% monthly. Although this pace was also slower than forecasts, it points to some lingering stickiness in inflation -- a concern that has led various policymakers in recent days to suggest that rates may not be "sufficiently restrictive" to tamp down price growth to 2%. Indeed, Chair Jerome Powell noted last week that the Fed "will not hesitate" to further raise borrowing costs from their current range of 5.25% to 5.50% "if it becomes appropriate." The Fed, which held interest rates steady at their last meeting, is scheduled to hold its next two-day gathering on Dec. 12-13. U.S. stock futures surged in the wake of the data on Tuesday, while Treasury yields, which typically move inversely to prices, dipped.

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Key Metrics

Market Cap

4.12 B

Beta

1.88

Avg. Volume

792.97 K

Shares Outstanding

56.89 M

Yield

0%

Public Float

0

Next Earnings Date

2024-02-27

Next Dividend Date

Company Information

shift4 payments is the leader in secure payment processing solutions, powering the top point-of-sale and software providers across numerous verticals, including food & beverage, hospitality, lodging, gaming, retail, and e-commerce. this includes the company’s harbortouch, restaurant manager, positouch, and future pos brands, as well as over 300 additional software integrations in virtually every industry. with eight offices across the u.s. and europe, 7,000 sales partners, and three state-of-the-art data centers, the company securely processes over 1 billion transactions annually for nearly 200,000 businesses, representing over $100 billion in payments each year.

CEO: Jared Isaacman

Website:

HQ: ,

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