Crude oil and refined product futures contracts saw a sharp decline at midday on Tuesday following the closure of the market on Monday for the U.S. Presidents Day holiday. Oil Contracts Oil contracts experienced a significant drop, with prices down by more than $1 per barrel as of noon ET. The spotlight was on the NYMEX April West Texas Intermediate crude contract, which was … [Read more...] about Tuesday Market Update: Oil Prices Drop
Forex News
Iovance Biotherapeutics FDA Approval
Shares of Iovance Biotherapeutics surged following the announcement of accelerated approval from the U.S. Food and Drug Administration for its groundbreaking metastatic melanoma treatment. Significant Stock Surge With a remarkable 41% increase on Tuesday, Iovance's stock reached $12.86, marking its most substantial growth since June 3, 2016, when it saw a surge of 43%, as … [Read more...] about Iovance Biotherapeutics FDA Approval
Antitrust Challenges for Capital One’s Discover Financial Acquisition
Capital One has recently made headlines with its plans to acquire Discover Financial in a massive $35 billion, all-stock deal. This significant move would position the financial powerhouse in direct competition with payment giants Visa and Mastercard. However, the road ahead is far from smooth, as antitrust regulators are expected to closely scrutinize the merger. Regulatory … [Read more...] about Antitrust Challenges for Capital One’s Discover Financial Acquisition
Potential Fed Rate Hike Impact
It has been a gradual process, taking months for traders to comprehend the once-unthinkable notion of potentially no rate cuts in 2024. Now, the tables have turned as they entertain the possibility of another hike by the U.S. central bank. Shifting Perspectives The realization dawned following last week's consumer-price index for January surpassing expectations. Subsequently, … [Read more...] about Potential Fed Rate Hike Impact
Woolworths Reports Large Loss
Woolworths, a leading Australian grocer, recently reported a significant half-year loss along with the retirement announcement of its longtime chief executive. Financial Overview The net loss for the approximately six months through December totaled 781 million Australian dollars (US$511 million), primarily due to one-time writedowns related to its New Zealand business and … [Read more...] about Woolworths Reports Large Loss
