Monthly Archives: September 2024
41654156156Wall Street Plummet on Poor PMI Reading
Written on September 4, 2024 at 5:21 am, by pumarketings
Market Summary Wall Street experienced a significant single-day sell-off yesterday, with the Nasdaq leading the decline, dropping more than 3%. Nvidia, a key player in the AI sector, saw a massive $279 billion loss in market value as its share price plunged by 9.5%. This sell-off was fueled by a softening market optimism after theContinue Reading
Aussie Falls On Disappointing GDP Data
Written on September 4, 2024 at 2:17 am, by pumarketings
Fundamental Analysis * GDP Stumble: The Australian Dollar weakened against the U.S. Dollar following the release of weaker-than-expected Australian GDP data. According to the Australian Bureau of Statistics (ABS), Australia’s Gross Domestic Product (GDP) grew by 0.2% quarter-on-quarter (QoQ) in the second quarter (Q2) of 2024, slightly higher than the 0.1% growth in the firstContinue Reading
Libya Oil Field Shutdown Leads Oil Prices to Rebound
Written on September 3, 2024 at 5:34 am, by pumarketings
Market Summary Oil prices rebounded above the critical support level near the $73.00 mark, driven by several key factors. Libya’s key oil field shutdowns have led to a reduction of a million barrels in global daily oil supplies, significantly pushing oil prices higher in the last session. Additionally, the U.S. government is set to imposeContinue Reading
