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☆ This underperforming retail stock could rally more than 25%, Barclays says
▼ + stars: | 2023-08-01 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should get off the sidelines on Gap given the retailer's potential for business improvement, according to Barclays. Her $13 price target implies shares could rally 26.2% from Monday's close. Yih said the company could see margin upside with a shift to cleaner inventory levels and mitigated freight challenges. Despite the opportunity to recapture some of the margin, Yih noted the company can do more work to stabilize the business and make it more malleable to consumer demand signals. Between the new management and potential for margin capture, she said the company's valuation multiple could be raised.

Persons: Adrienne Yih, Yih, Richard Dickson, Chris Blakeslee, Alo Yoga, — CNBC's Michael Bloom Organizations: Barclays, Navy, Old Navy, Mattel Locations: Monday's, 2Q23, Banana

☆ Even Trump’s indictments haven’t shattered the deadlock between the parties. Here’s why
▼ + stars: | 2023-08-01 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +17 min

The poll found voters divided exactly in half over whether they intended to vote for Democrats or Republicans in the next Congressional election. While surveys now usually show Biden leading Trump, the president’s margin rarely exceeds his four-point margin of victory from 2020. Instead, the pandemic quickly evolved into just another front in the preexisting culture war lines of division between the parties. Yet Biden, as noted above, still maintained his 2020 lead over Trump in these seats of four percentage points. Surveys have found widespread concern among voters that Biden is too old to effectively handle the presidency.

Persons: Donald Trump’s, Trump, Joe Biden, ”, Lynn Vavreck, Franklin Roosevelt, Tony Fabrizio, John Anzalone, Biden, Fabrizio, Bill McInturff, “, ” McInturff, McInturff, Vavreck, John Sides, Chris Tausanovitch, ” Vavreck, Stormy Daniels, Anzalone, ” Anzalone, it’s Trump, Simon Rosenberg, ” Rosenberg, Rosenberg Organizations: CNN, Republican, Democratic, UCLA, Electoral College, GOP, Senate, Trump, Biden, AARP, Republicans, NBC, Bright Line, NPR, PBS, Marist, White, Whites, Democrats, Wisconsin – Locations: Anzalone, Arizona , Georgia, Michigan, Pennsylvania, Wisconsin, Trump

☆ Japan's Nomura Q1 profit soars on strong domestic stock market
▼ + stars: | 2023-08-01 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

"We had a market tailwind," Chief Financial Officer Takumi Kitamura told a media briefing. Nomura's April-June profit came in at 23.33 billion yen ($163.42 million) versus 1.696 billion yen a year earlier, when fears of slowing global economic growth hit financial markets and forced investment portfolio writedowns at the Japanese firm. In contrast to the strong gains at the retail business, Nomura's wholesale division, which houses its investment banking and trading businesses, posted a pretax profit of just 2.1 billion yen, down sharply from 25.3 billion yen a year earlier. The Bank of Japan's relaxation of its cap on bond yields last week could also be "a major tailwind" to its business, as it is likely to increase market volatility, he said. ($1 = 142.7600 yen)Reporting by Makiko Yamazaki; Editing by Himani Sarkar and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Takumi Kitamura, Nomura's, Kentaro Okuda, Kitamura, Makiko Yamazaki, Himani Sarkar, Mark Potter Organizations: Nomura Holdings Inc, of, Energy, NTT Group, Thomson Locations: TOKYO

Analysts point to receding recession concerns and the prospect of a less aggressive policy stance from the U.S. Federal Reserve as factors fuelling hopes for a broader market rally. The second quarter earnings season has started positively for cyclical sectors, with over a quarter of the global companies announcing their results so far, Refinitiv Eikon data showed. "The upcoming earnings season has the potential to broaden the rally for sure. However, there are plenty of laggards especially in cyclical sectors such as financials and consumer discretionary, which are available at attractive valuations, analysts say. Over the past month, the communication services, mining and financial sectors have all posted about 5% gains, outpacing the tech sector's modest 2% rise.

Persons: Puneet Singh, Singh, Alastair Pinder, Derek Izuel, Patturaja Murugaboopathy, Noel Randewich, Vidya Ranganathan, Alison Williams Organizations: U.S . Federal Reserve, Reuters, Societe Generale, Carnival Corp, Equity, Nasdaq, Intelligence, Royce, Reuters Graphics Reuters, HSBC Research, Shelton Capital Management, Thomson Locations: U.S, Singapore, Asia, Europe, California

☆ A.I. is changing national security systems. Here's what's ahead for defense stocks
▼ + stars: | 2023-07-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Vladimir Putin said in 2017 that whoever becomes the leader in artificial intelligence "will be the ruler of the world." The department examined AI technology in defense through two pathways: The first was "autonomy at rest," which describes decision-making support software. Critically, artificial intelligence in defense will help automate more dangerous tasks while also reducing the risk of human casualties. "As of now, there is not the development of artificial intelligence technology in regards to making life-or-death choices. Boeing announced earlier in 2023 that it would partner with defense technology company Shield AI to expand AI pilot offerings for its military clients.

Persons: Vladimir Putin, Bob Work, Jonathan Sakraida, Lockheed Martin, Sakraida, Northrop, Booz Allen Hamilton Organizations: Pentagon, Deutsche Bank, Department of Defense, Center, New, New American Security, U.S, Defense, CFRA Research, U.S . Army, Lockheed, Dynamics, Department of, Carnegie Endowment, International, IBM, Palantir Technologies, Cisco, BAE Systems, Research Projects Agency, Northrop Grumman, Booz, Boeing, Air Force Locations: New American, There's, China, U.S, United Kingdom

☆ Ongoing strikes could kill Hollywood's momentum after the 'Barbenheimer' bump, but 4 industry insiders and analysts are still optimistic about the future of these 5 entertainment companies
▼ + stars: | 2023-07-29 | by ( James Faris | ) www.businessinsider.com time to read: +11 min

Here's which entertainment companies will outperform, according to analysts and industry insiders. Four industry veterans Insider spoke with unanimously agreed that unless the strikes are resolved soon, the movie industry's much-needed revival will fizzle out. In a mid-July note about the movie industry, Reese and Pachter highlighted three theater-related companies that are best positioned to survive in this difficult environment. FuboTV should be a winner since it's a solid alternative for cord cutters who still need news and sports coverage, which aren't impacted by the strikes, Pachter noted. Netflix is perhaps the most fascinating company in the media industry right now.

Persons: Barbie, Oppenheimer, Paul Dergarabedian, Alicia Reese, David A, Gross, Strikes, Reese, Michael Pachter, Dergarabedian, Pachter, Richard Gelfond, JPMorgan's David Karnovsky, Wedbush's Pachter, aren't, it's Organizations: Hollywood, Wedbush Securities, Entertainment Research, Alliance, Television Producers, Consumers, Netflix Locations: Hollywood, creatives

☆ Why is the US dollar losing its shine?
▼ + stars: | 2023-07-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —The US dollar’s decline has gained speed this month as investors pare back their interest rate expectations. Last week, that helped lead the US Dollar Index, which tracks the dollar versus the British pound, euro, Swiss franc, Japanese yen, Canadian dollar and Swedish krona, to its lowest level in more than a year. The dollar’s decline could offer some support to tech earnings, further boosting those stocks and in turn the broader rally. Gold prices have risen over 6% this year, supported by sliding Treasury yields and a decline in the dollar. The Dow slips to snap 13-day rallyThe Dow Jones Industrial Average index fell Thursday, cutting short a historic 13-day streak of gains.

Persons: pare, ”, Kathy Jones, Charles Schwab, Jones, Seema Shah, “ It’s, Shah, Gold, Dow, Read, Barbie ”, “ Oppenheimer, Matt Egan, “ Barbie, “ Oppenheimer ” Organizations: CNN Business, Bell, CNN, Federal, Swiss, Canadian, Fed, Microsoft, Apple, Asset Management, Japan, European Central Bank, Dow Jones, Nasdaq, Bank of America, Warner Bros Locations: Swedish

☆ The US economy is surging
▼ + stars: | 2023-07-27 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Real gross domestic product, or real GDP, grew at an annualized rate of 2.4%. That advance estimate for the second quarter beat the 1.8% increase expected. A recent GDP preview from Gregory Daco, chief economist of EY, also highlighted strength in the US economy and what it may mean. "Still, the economy continues to face significant headwinds from persistently elevated prices and costs, tightening credit conditions and rising interest rates. That's also much higher than the 3.2% seen in the second quarter of 2022.

Persons: Bill Adams, Jerome Powell, Powell, Gregory Daco, Daco, That's Organizations: Service, BEA, Consumer, Federal Reserve, Comerica Bank's, Fed Locations: Wall, Silicon

☆ Bank of America upgrades Boeing, says shares can rally nearly 30%
▼ + stars: | 2023-07-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Boeing has been able to "navigate the turbulence," according to Bank of America — which says the worst is now behind the company. Passenger demand has been lifted to near pre-pandemic levels thanks to the post-Covid recovery, analyst Epstein wrote in a Thursday note. "Boeing is participating in the commercial aerospace recovery, as part of the global duopoly in large commercial aircraft manufacturing, with some company-specific challenges. Epstein said tailwind from higher delivery rates can help the company also offset its lower profitability rates from its defense segment. Shares traded 0.8% higher Thursday before the bell, after gaining 8.7% during Wednesday's trading session on second-quarter results that showed an increase in commercial aircraft deliveries.

Persons: Ronald Epstein, Epstein, — CNBC's Michael Bloom Organizations: Boeing, Bank of America

☆ The US economy grew stronger than expected in the second quarter
▼ + stars: | 2023-07-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the Commerce Department reported Thursday. Economic growth in the second quarter was driven by business investment, government purchases, inventory investment and consumer spending, though at a much weaker pace than in the first quarter. Consumer spending, which accounts for about two-thirds of economic output, grew at just a 1.6% rate in the second quarter, down sharply from a 4.2% rate in the first three months of the year. Nonresidential business investment rose sharply to a 7.7% growth rate in the second quarter, up from a 0.6% rate in the beginning of the year. The GDP report showed that spending on structure slowed to a 9.7% rate in the second quarter from a 15.8% rate in the prior one.

Persons: “, Lydia Boussour, ’, ” Shannon Seery, Seery, —, ”, Diane Swonk, Thursday’s, Carol Schleif, Jerome Powell Organizations: Washington CNN, Commerce Department, Gross, Federal Reserve, Fed, CNN, Employers, Wells, Investment Bank, Manufacturers, KPMG, restrengthens Investors, BMO Family Office, Investors, “ Locations: EY

☆ AGCO CEO Eric Hansotia goes one-on-one with Jim Cramer
▼ + stars: | 2023-07-27 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAGCO CEO Eric Hansotia goes one-on-one with Jim CramerAGCO CEO Eric Hansotia sits down with 'Mad Money' host Jim Cramer to talk grain prices increasing due to the war on Ukraine and how it is a tailwind.

Persons: Eric Hansotia, Jim Cramer Locations: Ukraine

☆ There’s a Faster Boston-NYC Trip. You Just Have to Land on Water.
▼ + stars: | 2023-07-26 | by ( Dawn Gilbertson | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/seaplane-new-york-boston-flight-tailwind-air-b77446c2

Persons: Dow Jones Locations: boston

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Costco, Nike, Imax, Walmart, Meta & more
▼ + stars: | 2023-07-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: UBS reiterates Nike as buy UBS said it's getting incrementally bullish on the stock and that it could double. " BTIG upgrades Zscaler to buy from neutral BTIG said its checks on the IT stock have been "consistently positive." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating heading into Apple earnings next week. Goldman Sachs reiterates Apple as buy Goldman said it's standing by its buy rating heading into earnings next week. Morgan Stanley names Elevance a top pick Morgan Stanley named the health insurance provider as a top pick and said it sees further earnings per share growth.

Persons: it's, Morgan Stanley, Apple, Piper Sandler, Wells, Goldman Sachs, Goldman, Mizuho, Oppenheimer, TSCO, Citi downgrades Goldman Sachs, TD Cowen, Wolfe, Baird, HWM, Elevance, Comm, Flywire Organizations: UBS, Nike, Apple, Walmart, Piper, Signet, Superior Unit, Costco, Citi, adv, 2Q, Meta, Digital Ad, Bank of America downgrades, Supply, Bank of America, HSBC, Zynga, Disney, Mizuho, Howmet Aerospace, Airbus Locations: Wells Fargo, 2Q23

☆ With the DOJ looming, a post-earnings move higher for this tech giant means 'we have to trim'
▼ + stars: | 2023-07-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

"Having Google win this ad tech case would reinforce the difficulty the government will have limiting tech platforms," Gallant said. Elsewhere, the European Commission is bringing a similar antitrust case against Google's ad tech business in the European Union. Bottom line At the Club, we're focused on the DOJ case because we have a significant position in Alphabet. Given the uncertainty around the antitrust case, if Alphabet stock moves higher post earnings Tuesday, we'll look to scale back our position in order to protect the broader portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Jonathan Kanter, Paul Gallant, Cowen, Gallant, Biden, we're, Jim Cramer's, Tayfun Organizations: U.S . Department, Big Tech, Nvidia, Biden administration's, Department, Google, DOJ, CNBC, European, European Union, The, Anadolu Agency, Getty Locations: U.S, View , California, United States

☆ The dollar’s decline is yet another positive for the broad market — including AI stocks
▼ + stars: | 2023-07-22 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

A weaker dollar will continue to support a broad stock market rally that has already seen an extraordinary run-up this year. Since topping out in late last September, the ICE U.S. Dollar Index has fallen about 13%. A weaker dollar "starts to set into motion a few different dynamics," said Yung-Yu Ma, chief investment officer at BMO Wealth Management. .DXY 1Y mountain ICE U.S. Dollar Index over past year A weaker dollar typically lifts large-cap stocks that are more likely to have an international footprint. What's more, emerging market companies more easily pay back dollar-denominated debt when the greenback is weaker.

Persons: it's, Yung, Yu Ma, Shannon Saccocia, Riley Financial's Art Hogan, Hogan, Neuberger Berman's Saccocia, Saccocia, We've Organizations: ICE, BMO Wealth Management, Federal Reserve, Bank of Canada, Bank of England, European Central Bank, Vanguard FTSE Emerging

☆ Bullish developments for three stocks across sectors — and our take, too
▼ + stars: | 2023-07-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Morgan Stanley analysts believe the market for obesity drugs is even larger than initially expected, a finding that aligns with our rosy outlook on Eli Lilly (LLY). The news: Obesity drugs could generate annual sales up to $77 billion in 2030, Morgan Stanley said Friday, a nearly 43% increase to the firm's previous forecast. Insurance reimbursement for obesity drugs has spread quicker than Morgan Stanley expected, which helped prompt the firm to update its multiyear sales outlook. However, there's been some concern that insurance companies would be hesitant to cover this new class of obesity drugs, which carry hefty price tags, along with side effects like nausea and vomiting. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Morgan Stanley, Eli Lilly, LLY, Lilly, Wegovy, Eli Lilly's, Morgan Stanley's, Jim Cramer's, we've, there's, Sartorius, Danaher, We've, We're, Lisa Su, Su, TSM, Apple's, There's, Jim Cramer, Jim, Cristina Arias Organizations: Club, Novo Nordisk, Wall, AMD, Devices, Club holding's, Nikkei Asia, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Intel, CNBC, Company, Pharmaceutical Locations: U.S, Japan, Tokyo, Taiwan, China, Beijing, Arizona, Alcobendas, Madrid, Spain

The firm upgraded Blackstone shares at the start of 2023 on the belief that investors were over-penalizing Blackstone for its outflows in its Real Estate Income Trust division. "For the multiple to expand further, we'd want to see organic growth supported again by perpetual fund growth, which is currently weighed down by a depressed sentiment for real estate investing." Blackstone shares have rallied nearly 45% year to date. Worthington added that speculation over the stock being added to the S & P 500 has also fueled its rise. To be sure, Worthington thinks the real estate sector will likely "require a drop in rates to see a substantial improvement."

Persons: it'll, Blackstone . Blackstone, Kenneth Worthington, Worthington, Blackstone, — CNBC's Michael Bloom Organizations: JPMorgan, Blackstone ., Blackstone, Income

☆ US banks' second quarter earnings: the results in charts
▼ + stars: | 2023-07-21 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +3 min

The results follow a tumultuous first quarter in which Silicon Valley Bank and two other lenders failed. Signs of a revival in the investment banking sector, as higher rates and economic uncertainty have hampered deals and trading, also drove share gains. The upbeat results sparked a rally in bank stocks with the S&P 500 Banks Index (.SPXBK) gaining 9.3% and the KBW Regional Banking Index (.KRX) rising 13.7% month-to-date. Here are three charts on mid-sized banks' second-quarter results:DEPOSIT LEVELSReuters GraphicsWhile regional bank earnings in recent days have reassured investors that the crisis has subsided, regional banks are being squeezed as they pay customers more to retain their deposits. The KBW Regional Banking Index (.KRX) has rallied 13.7% month-to-date but remains down 13.6% so far this year.

Persons: Banks, Manya Saini, Michelle Price, Barbara Lewis, Nick Zieminski Organizations: Bank, Banks, Federal, Reuters Graphics, Bank of America, Graphics, Graphics Bank, Thomson Locations: Silicon, KBW, Bengaluru

The dollar index dipped below the 100 level on July 14, marking its lowest level since mid-April 2022. "So there's just a dynamic where the overall access to capital funding improves when there's a weaker dollar in emerging markets, and vice versa. The Swiss bank found that the MSCI Emerging Markets index is trading near a 36% discount to the S & P 500. The three largest are: Vanguard FTSE Emerging Markets ETF , iShares Core MSCI Emerging Markets ETF and iShares MSCI Emerging Markets ETF . Core MSCI is higher by 9.6% in 2023, iShares MSCI Emerging Markets is up 8.2% and Vanguard FTSE Emerging Markets has gained 7.4%.

Persons: Shannon Saccocia, Yung, Yu Ma, there's, Ma, Xingchen Yu, Yu, —, Michael Bloom, Sarah Min Organizations: U.S, UBS, Neuberger Berman, Wealth, Research, Wealth Management, Vanguard FTSE, Markets Locations: outflows, U.S, India, Vietnam, Swiss, America, South, Southeast Asia, Central, Eastern Europe

☆ Foreign investment is ramping up amid the reshoring boom. Here are UBS’s top under-the-radar plays
▼ + stars: | 2023-07-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Foreign direct investment is also picking up. That investment is on top of the reshoring boom that is already underway , as U.S. companies return operations back home, partly to ensure the safety of supply chains. More than 101,000 jobs were created by reshoring and foreign direct investment in the first quarter alone, up 11% year over year, according to the Reshoring Initiative . While Eaton is Snyder's top pick on the reshoring theme, he highlighted several other underappreciated names that stand to gain as well. Overall, auto reshoring announcements grew 30% in the second half of 2022 from the year prior, according to UBS.

Persons: Chris Snyder, UBS's Snyder, he's, Snyder, Eaton, Dave Regnery, Regnery, — CNBC's Michael Bloom Organizations: World Trade Organization, UBS, Reshoring, Keysight Technologies, U.S, Trane Technologies Locations: U.S, United States, China, reshoring, Taiwan, Asia

☆ This data in Tuesday's retail sales report is good news for one of our stocks
▼ + stars: | 2023-07-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Headline U.S. retail sales came in softer-than-expected for June, rising 0.2% versus the 0.5% increase economists were expecting, according to the Commerce Department. But the retail sales control group, which excludes receipts from autos, building materials retailers, and gasoline stations, was up 0.56% compared to the 0.5% consensus estimates. Online sales for the month accelerated to 1.9%, while sales at department stories and groceries fell 2.4% and 0.7%, respectively. Over the long run, they expect Amazon to "continue to gain market share" through its 200 million Amazon Prime subscriber base. The Amazon Prime logo is displayed on the side of an Amazon delivery truck on June 21, 2023 in Richmond, California.

Persons: Jim Cramer, Jim Cramer's, Jim, Justin Sullivan Organizations: Club, Headline U.S, Commerce Department, Telsey, Group, Amazon, Amazon Web Services, CNBC Locations: United States, Richmond , California

☆ Bitcoin investors are feeling deja vu as the setup for the next bull run takes shape
▼ + stars: | 2023-07-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

The dollar index, which usually moves inversely with bitcoin, also hit its lowest level in more than a year last week, and bitcoin didn't budge. "It wasn't until the bitcoin halving a year later, in the spring of 2020, that we saw a market recovery transform into a sustained rally. Investors tend to expect seasonal gains in the fourth quarter, which has brought bitcoin a 93.38% return on average since 2013. The Ripple case also gives the industry hope that the SEC "takes its foot off of the enforcement pedal," Canaccord Genuity said. "Until the next difficulty adjustment, which will happen in about two weeks, miners' selling pressure will likely continue," Hasegawa added.

Persons: Bitcoin, bitcoin, pullbacks, Andrew Lawrence, Censo, Lawrence, it's, Cantor Fitzgerald, Canaccord Genuity, Chase White, they've, bitcoin's, Yuya Hasegawa, Hasegawa Organizations: BlackRock, SEC, Investors

☆ I'm a millennial real-estate agent here to tell you that long-term homeownership is not the best way to build wealth. Here's why.
▼ + stars: | 2023-07-16 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

David Ravitz thinks he's cracked the code to building wealth with homeownership. David Ravitz and his wife. Courtesy of David Ravitz. Courtesy of David Ravitz. Courtesy of David Ravitz.

Persons: David Ravitz, he's, Ravitz, that's, David Ravitz's, we've Organizations: Boca, Service, University of Miami Locations: Boca Raton , Florida, Wall, Silicon, South Florida, Boca Raton

☆ Africa's gaming market is expected to top $1 billion in 2024 — in the face of a global slowdown
▼ + stars: | 2023-07-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Africa's video game market has been doing well. Africa's video game market is having a moment. Sub-Saharan Africa's gaming industry is expected to generate over $1 billion for the first time in 2024, according to data shared exclusively with CNBC. Despite that, Africa's video game market has been doing well. The global games market generated $182.9 billion of revenue in 2022, down 5.1% from 2021, according to Newzoo.

Persons: Covid lockdowns, Cordel, Coker, Covid Organizations: CNBC, World Bank Locations: Africa, Cape Town, Saharan Africa

☆ The US dollar is on the verge of a breakdown against the world's other top currencies
▼ + stars: | 2023-07-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The dollar is on the verge of a breakdown as other global currencies start to rise. The US Dollar Index fell below the 100 level this week, which represented a key support level. "A decisive breakdown is likely given a loss of momentum across timeframes," Fairlead Strategies said. While the dollar falls, other currencies are surging, including the euro, the yen, and the Canadian dollar, among others. "The breakdown in the Dollar Index is associated with a pending breakout in the Euro, which we also expect will be confirmed next week," he said.

Persons: Katie Stockton, Will Tamplin, Tamplin Organizations: Service, Stockton, Canadian Locations: Wall, Silicon, Stockton

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