Stock split fails to lift SHOP, shares down 4%

Shopify gives shareholders 10 shares for every 1 as of June 28. SHOP stock lost 6.1% on Tuesday in tandem with Nasdaq. Shopify stock is expected to open around $35. UPDATE: Shopify’s 10-for-1 stock split failed to entice retail traders on Wednesday. Shares that closed at a split-adjusted price of $35.02 on Tuesday, opened at … Read more

GBP/USD flirts with 1.2100, lowest in nearly two weeks post-Fed’s Powell and BoE’s Bailey

GBP/USD watch heavy follow-through selling and dropped to a nearly two-week low. Fed Chair Powell’s hawkish comment boosted the USD and exerted downward pressure. Comments by BoE Governor Bailey did little to impress bulls or lend support to the pair. The GBP/USD pair added to the previous day’s heavy losses and remained under intense selling … Read more

Dollar strength is disinflationary at the margins

Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB’s annual Forum on Central Banking. Key quotes Powell: “Dollar strength is disinflationary at the margins.” Powell: “We are working hard to get smarter about the supply side.” Bailey: … Read more

DAX, DOW and FTSE Mixed as Sentiment Tug of War Continues

DAX 40:Struggles as German State Inflation Data Fails to Inspire. FTSE 100:Runs Out of Steam as Fears of a Global Slowdown Return. DOW JONES: Higher Following Yesterday’s Rout Amid Grim Consumer Confidence Picture. DAX 40: Struggles as German State Inflation Data Fails to Inspire The Dax struggled in early European trade before recovering some losses … Read more

China Eases Restrictions, Benefitting Australian Dollar

The Australian Dollar has benefited from higher global equity markets and higher prices for industrial commodities, especially copper and iron ore, after China eased restrictions. The 7-day average of new Covid cases in China indicates the possibility of additional easing, which could contain the slowdown in China’s economy, and the strengthening of the Australian Dollar … Read more

Midweek Market Podcast – June 29

The Market Week – June Week 4 This week the markets have seen inflation angst, tightening in central bank policies, recession concerns, and geopolitics, while the advent of month- and quarter-end rebalancing – a time when fund managers typically rebalance their portfolios, a process that can contribute to asset price swings – added some spice. … Read more