Shares of Citigroup (C) have outperformed major equity benchmarks in 2024, with a 22% year-to-date gain compared to the S & P 500’s 13%. However, a detailed technical analysis review using multiple time frames suggests a possible downside reversal. The weekly chart displays a significant and consistent rise in Citigroup from an October low of
The recent decision by the Bank of Canada to cut interest rates by 25 basis points had a minimal and brief impact on the Canadian dollar. Analysts from ING believe that this lackluster response was due to the market already anticipating a 20 basis point cut prior to the official announcement. Despite concerns about inflation
The ongoing contract negotiations between American Airlines and the Association of Professional Flight Attendants have hit a roadblock, with the rejection of a company proposal to immediately raise pay by 17%. This move by the union has brought the prospect of a strike closer, as the two parties continue to differ on major issues, such
The New York Stock Exchange experienced a technical issue on Monday, June 3, which caused A-class shares of Warren Buffet’s Berkshire Hathaway to appear to be down by almost 100%. This malfunction resulted in trading halts for Berkshire Hathaway, as well as Barrick Gold and Nuscale Power. Despite the quick resolution of the glitch and
EMJ Capital’s Eric Jackson recently spoke about the impressive rise of Nvidia’s stock, citing the rapid pace of its earnings growth. Despite reaching a new record, Jackson believes that Nvidia is still undervalued in the market. He emphasized that the company’s strong financial performance has not been fully priced in by investors yet. In contrast
Wolfe Research has identified a list of stocks that are prime targets for short sellers, a strategy that involves borrowing shares of a target stock, selling them on the open market, and hoping for the price to decline. The firm uses various screens to analyze factors such as valuation, earnings quality, capital allocation, and sentiment
Lululemon, a popular athletic apparel retailer, recently reported flat comparable sales in the Americas, its largest market. Despite beating Wall Street’s earnings estimates, the company only narrowly topped revenue expectations. The company’s full fiscal year guidance suggests that it is optimistic about conditions improving in the back half of the year. In the first fiscal
Boeing CEO Dave Calhoun is scheduled to testify before a Senate panel on June 18 in response to whistleblower allegations and concerns surrounding quality control at the company. This comes as Boeing continues to grapple with a safety crisis following the tragic crashes of its 737 Max planes in 2018 and 2019. Senator Richard Blumenthal
Recently, Bitcoin reached a major turning point in the cryptocurrency market by achieving an all-time high on one of its most crucial charts. This significant milestone sheds light on the macroeconomic factors propelling Bitcoin’s current bullish trend, particularly its relationship with global liquidity (M2). Bitcoin is currently trading around $70,868, signaling a clear upward trajectory.
Michael Saylor, the cofounder of MicroStrategy, continues to share Bitcoin-themed tweets on a daily basis. In one of his recent tweets, he shared an AI-generated photo of a bee inside a beehive with a Bitcoin mascot. This tweet invites people to “Join the Swarm,” referring to the growing global community of BTC believers and holders.