European shares advanced amid broad-based gains and upbeat corporate updates while investors digested more comments from U.S. Federal Reserve Chair Jerome Powell’s second day of testimony.
Digesting Powell’s comments, European shares advanced
Sterling steady at one-month highs
The pound held near one-month highs, supported by the belief among investors that U.S. interest rates are set to fall sooner than many had predicted, which dented the dollar.
The Pound gained 0.4% against the Dollar in the last session. The Stochastic indicator is giving a positive signal.
GBP/USD rose 0.4% in the last session.
The Stochastic indicator is currently in the positive zone.
Support: 1.2746 | Resistance: 1.2846
Mt. Gox repayment shakes crypto market
In a long-awaited move, Mt. Gox, the infamous Bitcoin exchange that collapsed in 2014, has finally started repaying its creditors. This resolution to one of crypto’s most notorious scandals is not just closing a chapter to one of Bitcoin’s darkest hours but is also actively shaping the asset’s market dynamics in real time.
Tesla’s stock exploded 4.5%
Shares of Tesla skyrocketed 4.5% in the last session. According to the Williams indicator, we are in an overbought market.
Tesla’s stock exploded 4.5% in the last session.
The Williams indicator points to an overbought market.
Support: 237.5605 | Resistance: 267.0189
Intel was up 6%
A rally in chip stocks lifted the Nasdaq and S&P 500 to record highs as investors awaited fresh inflation data, commentary from Federal Reserve Chair Jerome Powell and the start of quarterly earnings season. Nvidia jumped 2.5%, while Intel was up 6%
Boeing has agreed to pay a fine of over $243 million
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge and pay a fine of over $243 million to resolve an investigation into two 737 MAX fatal crashes. The plea deal would brand the planemaker a convicted felon in connection with crashes in Indonesia and Ethiopia in 2018 and 2019 that killed 346 people.