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Dollar Supported by a Weak Yen and Strength in US Consumer Confidence
Yahoo Finance· 2026-02-24 20:32
Currency Market Overview - The dollar index (DXY) rose by +0.16% on Tuesday, supported by weakness in the yen and positive US economic data [1] - The dollar's gains were muted by the strength of the yuan, which reached a 2.75-year high against the dollar [2] - The US trade uncertainty, particularly due to President Trump's 10% global tariffs, may lead foreign investors to sell dollar assets [2] US Economic Indicators - The S&P composite-20 home price index for December increased by +0.47% month-over-month and +1.38% year-over-year, surpassing expectations of +0.30% and +1.30% respectively [3] - The Conference Board's consumer confidence index for February rose by +2.2 to 91.2, exceeding the expected 87.1 [3] - The Richmond Fed manufacturing survey for February unexpectedly fell by -4 to -10, which was weaker than the anticipated increase to -5 [3] Interest Rate Outlook - Chicago Fed President Austan Goolsbee expressed optimism for potential rate cuts this year, contingent on progress towards the 2% inflation target [4] - Swaps markets are pricing in a 2% chance of a -25 basis point rate cut at the next FOMC meeting on March 17-18 [4] - The dollar is expected to face underlying weakness as the FOMC may cut rates by about -50 basis points in 2026, while the Bank of Japan is anticipated to raise rates by +25 basis points in the same year [5] Eurozone Economic Conditions - The euro fell by -0.07% against the dollar, pressured by a stronger dollar and negative economic news from the Eurozone [6] - Eurozone new car registrations in January dropped by -3.9% year-over-year to 800,000, marking the largest decline in seven months [7] - Swaps are indicating a 2% chance of a -25 basis point rate cut by the ECB at its next meeting on March 19 [7] Japanese Yen Performance - The USD/JPY rose by +0.76% as the yen fell to a 2-week low against the dollar, influenced by comments from Japanese Prime Minister Sanae Takaichi regarding interest rate hikes [8] - Higher Treasury notes also contributed to the yen's decline [8]
Pre-Market Rebound
ZACKS· 2026-02-24 17:01
Market Overview - Pre-market futures show a recovery from Monday's market decline, with the Dow up +138 points, S&P 500 up +11, Nasdaq up +113, and Russell 2000 up +4 points, despite ongoing tariff concerns and potential military conflict with Iran [1] Q4 Earnings Reports - Home Depot (HD) reported Q4 earnings of $2.72 per share, beating estimates by $0.20, representing an +8% earnings beat, with revenues of $38.2 billion, slightly outperforming estimates by +0.05%. Shares are up +2.8% in pre-market trading, contributing to a +9.5% gain year to date [2] - Planet Fitness (PLNT) reported earnings of 83 cents per share on revenues of $376.26 million, beating estimates by +5% and +3% respectively. Revenue growth year over year is +10.5%, slightly below its +11.2% annualized growth rate over the past five years. Shares are down -5% in early trading, compounding a -16% loss year to date [3] - Keurig Dr Pepper (KDP) exceeded earnings estimates by a penny, reporting 60 cents per share. Dillard's (DDS) improved earnings estimates by a dime to $10.08 per share, and Constellation Energy (CEG) posted $2.30 per share, with shares up +2.7%, +1.4%, and +1.7% respectively [4] Housing Market Insights - The Case-Shiller Home Price Index for December shows a +1.4% increase, matching the previous month, but significantly lower than the +4.7% gains seen in January of the previous year. Home prices have remained stable since late summer of last year [5] - Chicago led the 20-city survey with a +5.7% year-over-year increase, followed by New York City at +5.0% and Cleveland at +3.4%. Tampa continues to decline, down -3.9% year over year, while Phoenix and Dallas both saw a -1.4% decrease, and Miami was down -1.0% [6] Consumer Confidence Expectations - New Consumer Confidence numbers from The Conference Board are expected to show an increase to 88.6 in February, recovering from a drop to 84.5 the previous month. However, recent data from the University of Michigan Consumer Sentiment Index suggests that consumer sentiment may remain weak, as it reached near three-year lows [7]
Silver Rises Sharply; Chicago PMI Surges In December
Benzinga· 2025-12-30 17:03
Market Overview - U.S. stocks experienced a decline, with the Dow Jones index falling over 100 points, down 0.22% to 48,353.51, NASDAQ down 0.16% to 23,436.70, and S&P 500 down 0.13% to 6,896.56 [1] - Energy shares rose by 0.6%, while consumer discretionary stocks fell by 0.3% [1] Commodity Market - Oil prices increased by 0.5% to $58.34, gold rose by 0.9% to $4,383.10, silver surged 7.2% to $75.515, and copper rose 2.6% to $5.7105 [5] European Market - European shares showed positive movement, with the eurozone's STOXX 600 gaining 0.53%, Spain's IBEX 35 Index up 0.85%, London's FTSE 100 up 0.70%, Germany's DAX 40 up 0.57%, and France's CAC 40 up 0.63% [6] Asian Market - Asian markets closed mostly lower, with Japan's Nikkei 225 down 0.37%, Hong Kong's Hang Seng Index up 0.86%, China's Shanghai Composite down 0.004%, and India's BSE Sensex down 0.02% [7] Company News - FONAR Corporation shares surged 28% to $18.82 following confirmation of its take-private deal [8] - Autonomix Medical, Inc. shares rose 30% to $0.6943 after receiving a patent grant [8] - Cemtrex, Inc. shares increased by 40% to $2.9500 as the company returned to profitability [8] - Flushing Financial Corporation shares dropped 8% to $15.46 amid a merger announcement [8] - New Era Energy & Digital, Inc. shares fell 23% to $2.07 following a lawsuit response [8] - OceanFirst Financial Corp. shares decreased by 6% to $18.42 after announcing an acquisition plan [8] Economic Indicators - The Case-Shiller Home Price Index increased by 1.3% year-over-year in October, compared to a 1.4% increase in the previous month and exceeding market estimates of 1.1% [10] - The FHFA house price index rose 0.4% in October, following a 0.1% decline in September, and compared to market estimates of a 0.1% increase [10] - The Chicago Business Barometer surged to 43.5 in December from 36.3 in the previous month, surpassing market expectations of 39.5 [10]
Crude Oil Down Over 1%; Chicago PMI Falls In September
Benzinga· 2025-09-30 17:18
U.S. stocks traded lower midway through trading, with the Dow Jones falling more than 100 points on Tuesday.The Dow traded down 0.30% to 46,174.85 while the NASDAQ fell 0.28% to 22,527.13. The S&P 500 also fell, dropping, 0.18% to 6,649.20.Check This Out: Top 2 Energy Stocks You May Want To Dump This MonthLeading and Lagging SectorsInformation technology shares jumped by 0.7% on Tuesday.In trading on Tuesday, energy stocks fell by 1.6%.Top HeadlineThe Chicago Business Barometer declined to 40.6 in September ...