Market participants will seek clarification of the European Central Bank's direction with stimulus when President Mario Draghi holds a news conference today. Amid conflicting data on the eurozone's economic health and prospects, Draghi's statement is keenly awaited, although there is consensus he will not indicate an early end to stimulus.
A rally of the FTSE 100 index has lost momentum, and the index is likely to embark on a downturn, technical analyst Andy Dodd says. His chart reading shows a bearish engulfing pattern has emerged, indicating scant potential for upward progress and increased probability of decline.
Amusement park operator Six Flags Entertainment has surprised market watchers by breaking out of decline and moving sharply upward, prompting technical analyst Bruce Kamich, CMT, to examine the stock's chart for signs of a continued uptrend. Indicators are mixed and progress in the past three months has been bearish, so the stock needs to hold its price for the next few days before a rally is considered sustainable, Kamich writes.
Facebook has reported a 63% increase in profit, to $4.99 billion, and revenue of $11.97 billion for the first quarter, despite concerns about its association with Cambridge Analytica. Facebook shares climbed 7.1% in after-hours trading Wednesday, reaching $171.
Bundesbank board member Andreas Dombret says he supports exempting US derivatives clearinghouses from legislation that would let the EU supervise foreign central counterparties. The EU should stick with a 2016 agreement under which the EU and the US defer to each other regarding clearinghouse oversight, Dombret says.
This earnings season has surpassed estimates and stands to be the best since 2011, but the stock market remains volatile and investors appear wary. Sarah Ponczek, Luke Kawa and Lu Wang explore possible reasons for caution.
China is inviting foreigners to invest in development of the semiconductor industry. The state-run China Integrated Circuit Industry Fund has begun accepting foreign capital, says a spokesman of the Ministry of Industry and Information Technology.
Charles Li, CEO of Hong Kong Exchanges and Clearing, says he expects more than 12 companies to apply for listings after revised rules take effect Monday. The rules allow listings of dual-class shares, which many technology companies favour.
Barclays is collaborating with PayPal to let UK and US corporate clients link credit and debit cards with PayPal's digital wallet and to let UK small businesses view accounts in either company's system. The service is expected to launch soon.
The industrials sector has performed poorly this week, and Caterpillar has suffered a 6.2% drop as a result of management's gloomy predictions for months ahead, technical analyst Serge Berger writes. Berger's chart reading shows the stock entered overbought territory in January and looks poised to sink lower, prompting him to advise a short position.
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