Forex

Pre-Market Decline Continues Amid Broader Tech Rout Tesla stock declined in premarket trade on Tuesday, continuing a trend that has seen it drop 3.3% in the previous session. This decline is part of a broader tech rout, which has hit the market amid concerns about the pace of Federal Reserve interest rate cuts in 2025. Energy Storage Gigafactory Update Despite this decline, Tesla's energy storage gigafactory in Shanghai has started trial production, with mass production expected early next year. This development is an important step for the company, as it continues to expand its presence in the rapidly growing clean energy market. Elon Musk's Provocative Statements The electric car maker's stock continues to be closely tied to the actions and statements of its billionaire founder Elon Musk...

The British pound (GBPUSD=X) experienced a decline against the dollar in early European trading on Thursday, slipping 0.2% to $1.2654. US Inflation Data Reveals Robust Consumer Spending and Ongoing Challenges The latest inflation data from the US indicated robust consumer spending in October, with the Personal Consumption Expenditures (PCE) Price Index rising by 2.3% year-over-year, up from 2.1% in September. The core PCE Price Index, which excludes volatile food and energy prices, increased by 2.8%, slightly surpassing the previous month's 2.7% rise. US Economy Shows Continued Strength The US economy demonstrated continued strength, with third-quarter gross domestic product (GDP) growing at the expected annualized rate of 2.8%. Despite this growth, the Federal Reserve remains on high aler...