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Instablog9ja
20 m
14
Davido has told Sophia Momodu that she was constantly bringing up the d3ath of his child to remind them of the tragedy that haunts them everyday of their lives.
Imade will grow up to see that he fo¥ght for her. As for now, she can have her. She won’t be a child forever. He added that all he asked for is joint custody.
Investopedia 1 h 13
The tech-heavy Nasdaq 100 Index has continued to hit record highs after rising nearly 8% in the second quarter as Wall Street's unflagging enthusiasm for the artificial intelligence (AI) narrative continued to drive stocks linked to the technology.
Below, we use technical analysis to identify key level to watch out for throughout the third quarter.
Since bottoming out midway between the 50-day and 200-day moving averages (MAs) in mid-April, the index has continued to trend higher, with the price setting a record close on Wednesday.
Despite the Nasdaq climbing to new highs, several indicators on the chart point towards slowing momentum. Firstly, trading volume, while still above longer-term averages, has declined in recent days—possibly related to the shortened trading week. Secondly, as the price has climbed to a higher high this week, the relative strength index (RSI) has made a shallower high, signaling a bearish divergence, which implies easing buyside pressure.
During retracements or periods of profit-taking, investors should keep a close eye on these key areas.
An initial pullback could see the price revisit the 19,500 level, an area on the chart that may find support from last week’s low.
If the index moves below this level, it may attract buyers near a horizontal line connecting a range of prices between late May and early June around 18,900. This area could also encounter support from the rising 50-day MA.
A further decline could see a retest of the key 18,400 region, an area likely to find buyers near a trendline linking several price points around the index’s prior all-time high (ATH), which appears to have flipped from an area of resistance into support.
Finally, a broader correction in technology stocks could see a fall to the April low at 16,974, which currently sits just beneath the closely watched 200-day MA. Such a decline would represent about 16% downside from Wednesday’s close of 20,187.
For those seeking a longer-term upside price target, we can speculate by using a bars overlay pattern that takes the index’s trending move between October 2023 and March this year and adding it to the April swing low. This projects a ballpark price target of around 22,000.
Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.com
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Instablog9ja
2 hrs
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Actress Rita Edochie told OAP Radiogad who called out VeryDarkMan for allegedly d3frauding a U.S.-based Nigerian homos3xual.
She said If what you’re accusing VDM of is true, then you’re also gay. Why are you people bent on using his past to hold him down. I doubt the authenticity of this update about him. My love and support for VDM remains undying whether you call him gay or a so3cerer
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Job growth in the U.S. likely slowed down in June, after a surprising jump the previous month.
The monthly employment report to be released Friday by the Bureau of Labor Statistics is expected to show that employers added 200,000 jobs last month and that the unemployment rate held steady at 4%, according to economists surveyed by the and That's less than the 272,000 jobs added in May.
“Big Data measures continue to indicate a below-normal pace of job creation during the spring hiring season, and our layoff tracker is also edging higher from low levels,” Goldman Sachs economists said in a recent research note.
The jobs numbers will be watched closely by officials at the Federal Reserve, who have kept interest rates at a 23-year high for almost a year as part of an effort to contain inflation. Weakness in the labor market could prompt the central bank to consider cutting its benchmark rate, which would be welcome news for consumers and investors alike.
Economists at Wells Fargo said they will be looking to see if job growth remains concentrated in a few sectors—particularly health care, government, and leisure and hospitality. While those industries account for 36% of all jobs, they make up 66% of the job growth since last June, the economists found. These sectors have rebounded after COVID-19-related job losses and haven’t been as strongly affected by high interest rates.
“We expect these three categories to continue to provide a sizable lift to the monthly rate of payroll gains that surpasses their pre-pandemic contribution and helps keep payroll gains afloat despite the current weight of monetary policy,” wrote Wells Fargo economists Sarah House and Aubrey George.
However, those categories are expected to provide less lift to the economy than in previous months. Wells Fargo economists expect job growth to slow over the next 12 months, dropping down to a pace of about 150,000 jobs a month.
In another report on the job market Wednesday, there were some indicators of slowing ahead.
The ADP employment report came in under economists' expectations and slowed for the third month. In June, the private sector added 150,000 jobs as leisure and hospitality jobs accounted for more than two out of every five new jobs.
The report from the payroll services provider is often seen as a precursor to the Bureau of Labor Statistics (BLS) report. ADP's employment numbers only cover private companies and do not include government jobs.
While the labor market has remained solid thus far, San Francisco Federal Reserve President Mary C. Daly said in remarks last week that the longer interest rates stay elevated at decades-high levels, the bigger impact they could have on unemployment, potentially forcing the Fed to move more quickly on rate cuts.
“So far, the labor market has adjusted slowly, and the unemployment rate has only edged up. But we are getting nearer to a point where that benign outcome could be less likely,” Daly said.
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Fourth Of July Spending On Food Expected To Decline This Year
Americans Plan To Spend Less On Foo...
Investopedia
3 hrs
13
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Americans plan to spend less on food for Independence Day celebrations this year than in 2023, according to a survey from the National Retail Federation.
The survey indicated that consumers are expecting to spend $9.4 billion on food and other goods associated with holiday celebrations this year, down from $9.5 billion last year. That would amount to $90.42 in planned per-person spending this year, down from more than $93 last year, the group said. Those numbers are higher than pre-pandemic levels.
Americans expect to spend almost $3 billion more dollars on Independence Day food items than they did in 2020. This year, 87% of people are planning on celebrating the holiday, the same as last year, with about two-thirds planning to host or attend a cookout.
Last year, the survey pointed to record growth in spending.
A smaller percentage of people are planning on traveling or going on vacation during the holiday compared with last year, according to the survey, but fireworks and community celebrations are expected to be more popular.
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Instablog9ja
4 hrs
12
President Tinubu has congratulated Prime Minister, Kier Starmer, on election victory.
He said, he warmly congratulate Prime Minister Keir Starmer on the victory of the Labour Party in the United Kingdom general election.
As a former leader of the opposition in Nigeria, Hr specially note the determination and courage that the Prime Minister demonstrated throughout his years in the opposition and as the leader of the Labour Party.
The party’s ability to reform, mobilize, and position itself for victory after 14 years affirms the leadership qualities of Sir Starmer.
He also congratulate the citizens and the government of the United Kingdom for being an abiding model of democracy.
He looked forward to deepening relations between Nigeria and the United Kingdom in mutual areas of interest and in strengthening democratic institutions, as well as in building a safer and more prosperous future for the people of both countries.
