Saturday, May 11
Oil prices dropped to a near two-month low on receding tensions in the Middle East, a complex interplay of escalating supply levels, demand worries, and challenging economic indicators. The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar correction was witnessed in the Asian Brent and the domestic MCX futures as well.There were worries that the ongoing Israel-Hamas war would spread across the Middle East after Iran attacked Israel in the second week of April. This sparked a rise in the global oil prices in hopes that it could adversely hit the critical maritime routes and affect the global oil supply chain. However, attempts by various countries to cool down the tensions put downward pressur
Fundamental and technical analysis are the two widely acknowledged ways of stock investing. Investors belong to either of these two schools of thoughts.While fundamental analysis focuses on a company’s business operations and financial health, technical analysis focuses on price patterns and trends on a stock’s price chart.Within these two methods of analysis, numerous theories exist regarding how investors approach stock investing. No matter how you approach stock-picking, the end goal for all investors remains the same, i.e. to create wealth.Today, let’s study one of the famous theories in technical analysis: Elliott Wave Theory.This theory uses wave patterns to help investors understand market trends.What is Elliott Wave Theory?The Elliott Wave theory is focused on identifying a t
Billionaire investor James Simons, the mathematician and Cold War code-breaker who founded one of the world's most prominent and profitable hedge funds, Renaissance Technologies, has died at 86, his foundation said on Friday. The Simons Foundation did not give a cause of death. Sixty years ago Simons -- who preferred to be known as Jim -- shifted course from teaching mathematics and working in U.S. intelligence to investing. His pioneering use of computer signals for trading decisions earned him the nickname "Quant King." With a net worth estimated at $31 billion by Forbes, Simons also became a prominent philanthropist, giving away billions of dollars during his lifetime to support medical and science research, teaching and Democratic candidates. "Churchill said 'great and good are seldom
A strong earnings season and blockbuster reports from tech industry titans fueled a U.S. stock market rebound from the first real swoon of 2024. Next week's inflation data could determine whether the good vibes continue. The benchmark S&P 500 index is up over 9% for the year, up near its late-March record high, following a 5% pullback that occurred last month. The bounce has overlapped with a stronger-than-expected first-quarter reporting season for U.S. companies. With well over 80% of the S&P 500 having reported results, companies are on track to have increased earnings by 7.8%, well ahead of the April expectation of 5.1% growth, according to LSEG IBES. Still, some investors worry the rally could stall without evidence that inflation is cooling again. While Fed Chairman Jerome Po
