Daily Market Report by GulfBrokers 2020-2021

[syamfx2020]

The Electric vehicle leader Tesla (NASDAQ: TSLA) is scheduled to report third-quarter 2022 financial results on Wednesday, October 19 after the market close. During this Q3, $TSLA is expected to post quarterly earnings of $1.09 per share and revenues to be $22.2 billion.

In the first week of October, Tesla reported the sales numbers for the third quarter (Q3) of 2022. The carmaker produced 365,000 vehicles and delivered 343,830 vehicles for the quarter that ended in September. While these delivery numbers were not in line with Wall Street's expectation of 359,162 vehicles.

“Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity at a reasonable cost during these peak logistics weeks.” Tesla said.

Tesla Q2 earnings review

The EV maker reported it's second-quarter financial results on July 20. Tesla registered second-quarter revenue of $16.93 billion, up 42% year-over-year and posted adjusted earnings per share of $2.27 in the second quarter, beating a Street estimate of $1.91. The company also said it converted 75 percent of its Bitcoin investment to flat currency during the quarter, conversions in Q2 added $936M of cash to our balance sheet.

$TSLA: Key technical levels to watch this week

Shares of Tesla have risen more than 10% this week, reflecting solid short-term bullishness ahead of the earnings announcement. TSLA's stock price is currently down over 25% from all-time highs. Technically, the overall momentum remains mixed. As of this writing, the stock trades above $220. On the downside, good support is expected at the $200 area while further down, demand is also expected around $180, which will act as the next area of support. On the upper side, If the bulls manage to push the price to break above the $250 resistance level, the next target will be at $265 and $280/300.

Read more - https://gulfbrokers.com/en/tesla-stock-price-forecast-ahead-of-q3-earnings

 

[syamfx2020]

Snap, the parent company of Snapchat (NYSE: SNAP) is set to report financial results for the third quarter today after the market close. The company is expected to post quarterly earnings of $-0.24 per share and revenues are expected to be $1.13 billion. Snap shares plunged more than 84% over the last 12 months.

During the second quarter, Snap's Q2 overall sales increased 13.1% year over year to $1.1 billion but the company reported a net loss of $422 million compared to $152 million in the prior year.

$SNAP key technical levels to watch today:

Support: $9.40 and $7.90

Resistance: $12.90 and $15

EQUITIES

UK shares ended lower on Wednesday following the release of a stronger-than-expected inflation report. U.K. inflation accelerated to a 40-year high in September, and the consumer price index rose 10.1%, compared with 9.9% the previous month. On the other hand, Wall Street ended mixed despite the release of strong Q3 earnings results.

OIL

Crude oil futures extended the gains on Thursday supported by a surprise drop in crude inventories. The EIA data showed on Wednesday that US crude inventories unexpectedly fell by 1.7 million barrels last week. The oil prices received additional buying pressure after President Biden’s comments on energy and plea to oil companies.

CURRENCIES

In the currency market, the British pound remains under pressure following the previous session's selling pressure. The recent bearish sentiment is driven by the release of hotter-than-expected UK CPI data. On the other hand, the Greenback, in terms of the US Dollar Index (DXY), corrected slightly lower but the index remains in favour as a safe haven currency due to global growth fears.

GOLD

The gold price hit a new monthly low of $1623 on Thursday's Asian session weighed down by the strong US dollar and hawkish comments from the Federal Reserve policymakers. At the time of writing, the metal slightly rebounded back to above $1630.

Economic Outlook

On the data front, Australia’s unemployment rate stabilised at 3.5 percent in September. While employment rose by just 900 people in September, with the participation rate unchanged from August at 66.6%.

Moving ahead today, the important events to watch:

US – Jobless claims: GMT – 12.30

US – Philly Fed index: GMT – 12.30

Coronavirus update:

Worldwide, more than 624 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 96 million cases and has had more than 1.06 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: For today the first support for the Euro appears to be around 0.9750, in the short-term any break below 0.9750 is the next downside level to watch 0.9720/00. On the flip side, the immediate resistance is around 0.9810 any break and close above this level will open to 0.9830 then 0.9850/60 minimum.



The important levels to watch for today: Support- 0.9750 and 0.9720 Resistance- 0.9810 and 0.9850.

GOLD: On the daily time frame, the gold is currently supported at $1610, and the resistance is around $1650. On the upper side, long-term buyers should wait for a daily close above $1650.



The important levels to watch for today: Support- 1620 and 1612 Resistance- 1640 and 1645.

Quote of the day - "In my book, trying to avoid losses is more important than striving for great investment success" - Howard Marks.

Read more - https://gulfbrokers.com/en/daily-market-report-566

 

[syamfx2020]

The British pound plummets to a fresh weekly low of 1.1122 on Friday after the release of disappointing UK retail sales data. The data showed the retail sales volumes fell by 1.4% in September, following August’s 1.7% fall. On a yearly basis, the decline in retail sales worsened to 6.9 percent in September from 5.6 percent in August.

The recent bearish momentum is also driven by the political crisis in Britain. British Prime Minister Liz Truss resigned Thursday after just 44 days in office. "I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party," said Truss.

EQUITIES

Wall Street ended lower on Tuesday following the release of mixed Q3 earnings results and the hawkish comments from Philadelphia Fed President Patrick Harker. “The Fed is actively trying to slow the economy,” and “we are going to keep raising rates for a while,” Harker said.

On the earnings front, Verizon and American Express are amongst those reporting the last quarter's financial results today.

OIL

Crude oil futures extend losses as bearish sentiment dominates due to the mounting fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates and as a surging U.S. dollar limits the ability of non-dollar consumers to purchase crude.

CURRENCIES

In the currency market, the US dollar Index has extended gains against a host of major currencies. The risk-linked currencies like the Australian and New Zealand dollar remain strong against the Euro and British pound. The USDCAD back to above 1.3800 on Friday morning. Moving ahead to the North American session, the CAD trades should closely monitor the release of Canada retail sales numbers.

GOLD

Gold price dips to the fresh monthly low of $1617 on Friday morning. The precious metal remains under pressure for this whole week due to the increased probability of the Federal Reserve raising interest rates by another 75 basis points (bps) in November. As of this writing, the metal slightly recovered back to above $1625.

Economic Outlook

On the data front, the Labor Department reported that initial jobless claims fell to 214,000 last week, the lowest level in three weeks and below analysts’ expectations of 230,000. On the other hand, the US existing home sales fell 1.5% month-over-month in September to 4.71 million units, the lowest level since September 2012.

Coronavirus update:

Worldwide, more than 624 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 96 million cases and has had more than 1.06 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: The currency pair extends its slide to a fresh session low of 0.9750. The next downside levels to watch are 0.9730/00. On the flip side, the immediate resistance at 0.9800 and 0.9850.



The important levels to watch for today: Support- 0.9730 and 0.9700 Resistance- 0.9800 and 0.9850.

GOLD: The gold price has reached a zone and a fresh demand for gold can be anticipated once the metal rises above the $1650 resistance. On the downside, the decline is more extensive, and it will be hard to rule out a run towards $1580 if the metal breaks below 1610.



The important levels to watch for today: Support- 1615 and 1610 Resistance- 1632 and 1640.

Quote of the day - I have found that when the market’s going down and you buy funds wisely, at some point in the future, you will be happy. You won’t get there by reading. Now is the time to buy. – Peter Lynch.

Read more - https://gulfbrokers.com/en/daily-market-report-567

 

[syamfx2020]

Precious metals, stocks and commodities ended on a positive note in the volatile session on Friday after a WSJ report said that some Fed officials are concerned about overtightening with large rate hikes.

In a recent speech, Federal Reserve Bank of San Francisco President Mary Daly said future interest rate increases could come in smaller increments to achieve the Fed's target neutral rate. The Fed may lift its benchmark rate by 75 basis points in November; may slow aggressive rate hikes thereafter.

Moving ahead, a huge week for the markets, with three major central banks meeting, and a slew of important economic data releases. On the other hand, with the big tech firms reporting this week, investors will be hoping their earnings can help boost the markets.

On the earnings front, the companies scheduled to release their last quarter financial results this week will be Apple, Amazon, Ford, Microsoft, Alphabet and Pinterest.

GOLD

The precious metal surged to a fresh weekly high of $1670 on Monday morning helped by a weaker U.S. dollar. While of this writing the metal retreats back to below $1650 after the US dollar recovered back to above 112. Overall, the momentum remained bearish for this month on concerns over aggressive Fed tightening following higher-than-expected U.S. September CPI data. However, considering the bearish sentiment the metal may regain strong upside momentum if it breaks above $1670.



For gold, the first nearest support level is located at $1645 then $1638. In case it breaks below $1638, it will head towards the next support level which is located near $1630. On the upside, $1660 will act as an immediate and strong hurdle while $1670 will be a critical resistance zone because above this, bulls are likely to dominate.

DOLLAR INDEX

The US dollar index slightly rebounded from the previous session lows on Monday Morning. The greenback slipped to a two-week low on Friday after US Fed softens its hawkish stance. Recently St. Louis Fed President James Bullard said, “I want rates that put significant downward pressure on inflation,”. Moving ahead, this week in the US, the main event of interest is US first-quarter GDP data and PCE expenditure price index.



Technically the overall momentum remains bearish for the Index after Friday’s sell-off. In the short term, if the index breaks below 111.40 it would open doors towards 110.80 and 110. On the upper side, the first immediate resistance is around 112.20 and then 112.50.

EURUSD

The euro strengthened ahead of a policy announcement by the European Central Bank. The crucial ECB decision this week will be the key economic data points which could determine the next move for the common currency. The European Central Bank (ECB) is expected to take a hawkish stance, with another big rate hike on the cards.

This week, good support is expected at the 0.9700 area, with this zone having held last week while further down, demand is also expected around 0.9660, which will act as the next area of support. On the flip side, the first immediate resistance level for the pair is 0.9880, then the stronger resistance is 0.9910, which is important to be stable above it for a continuing rise to 1.0000/80 levels.

DOW JONES

Dow Jones futures and other indices started the new week slightly lower ahead of big tech earnings results while the markets faced limited bearish momentum supported by the easing fears of hawkish Fed rate hikes. For this week, the main drivers for the Dow remain the fresh developments surrounding the UK political tensions and the ongoing Q3 earnings results.

This week, the immediate resistance for Dow near 31,500 breaks this and closes above this resistance level then expects the market to zoom up to 31,900 and 32,200. On the other hand, if it breaks below the 30,800 level, will open the doors to the 30,450 and 30,300 levels.

Check the detailed analysis with the chart here - https://gulfbrokers.com/en/weekly-review-gold-usd-eurusd-and-dow-jones-52

 

[syamfx2020]

Big banks were in the spotlight in the last few days as the most valuable investment banks in the United States reported better-than-expected third-quarter financial results including Goldman Sachs, JP Morgan, Bank of America, Wells Fargo, Citigroup, and Morgan Stanley.

The largest bank in the United States by assets, JPMorgan Chase & Co. (NYSE: JPM) reported quarterly results that beat estimates on the top and bottom lines. $JPM revenue increased 10% to $33.49 billion in the third quarter while earnings declined 17% YoY to $3.12 per share.

US banking giant Citigroup (NYSE: C) also beat estimates for third-quarter profit, its revenue rose 6 percent to $18.5 billion compared to the $18.25 billion expected and earnings for the three months ending in September were pegged at $1.63 per share.

The San Francisco-based bank Wells Fargo (NYSE: WFC) Q3 results exceeded Wall Street expectations. The bank reported quarterly earnings of $1.30 per share on revenues of $19.50 billion, ahead of expectations of $18.75 billion. However, the bank’s net income dropped 31% year-over-year to $3.53 billion in Q3.

Morgan Stanley (NYSE: MS) delivered disappointing third-quarter earnings compared to other big investment banks. Morgan Stanley’s net revenue in the quarter fell 12 percent to $13 billion compared to the market expectation of $13.3 billion and the bank posted a profit of $1.47 per share compared with a profit of $1.49 per share expectation.

Bank of America (NYSE: BAC) posted better-than-expected quarterly revenue in the third quarter. The revenue increased 8% to $24.5 billion vs $23.57 billion expected, led by a 24% improvement in net interest income to $13.8 billion. Meanwhile, the BoFA reported a 9% decline in third-quarter profits, the bank earned 81 cents per share for the last quarter beating the expectation of 77 cents per share.

The asset management giant Goldman Sachs (NYSE: GS) beat Q3 profit and revenue expectations. The upbeat results were boosted by strong bond trading results. The third-quarter earnings came in at $8.25 per share on revenue of $11.41 billion.

Check out the original article here - https://gulfbrokers.com/en/us-big-banks-q3-earnings-review

 

[syamfx2020]

Shares of the global leader in the music streaming sector Spotify (NYSE: SPOT) and global entertainment and record label Warner Music Group (NASDAQ: WMG) registered strong gains on Monday after the tech giant Apple raised the cost of its music and TV streaming services, this is the first time Apple has raised its subscription prices in the US. Apple Music previously cost $9.99 monthly for an individual account and $14.99 for a family account. Now, it's $10.99 and $16.99.

“The change to Apple Music is due to an increase in licensing costs, and in turn, artists and songwriters will earn more for the streaming of their music,” said Apple in a statement.

EQUITIES

European shares traded higher on Tuesday morning as investors reacted to robust earnings reports as well as robust economic data. While US futures trade near the session highs ahead of the big tech earnings.

On the earnings front, Microsoft, Visa, and Alphabet are among those reporting the last quarter's financial results today.

OIL

Crude oil futures remain under pressure amid concerns about the impact of a potential recession on global demand. The bearish sentiment is also driven by aggressive monetary policy tightening by various central banks.

CURRENCIES

In the currency market, the dollar weakened on Tuesday though, with the dollar index falling to 111.90, pushed down by less hawkish comments from Federal Reserve officials. On the other hand, the Euro holding against the greenback better-than-expected German IFO data.

GOLD

Gold price extended losses on Tuesday as risk sentiment in the global markets improved. On Monday however, gold prices reached a fresh 2-week high of $1670 per ounce, as the dollar weakened. Moving ahead to the North American session, gold traders should closely monitor the release of US consumer confidence data.

Economic Outlook

On the data front, the German IFO business climate index inched down to 84.3 from a revised reading of 84.4 in September, compared to the market expectation of a drop to 83.3. The current situation indicator came in at 94.1, down from 94.5 a month ago but well above economists' forecast of 92.4.

Coronavirus update:

Worldwide, more than 627 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.06 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: For today, 0.9900/10 remains the key resistance to watch. On the downside, rejection, and pullback from the 0.9900 resistance allow for a dip towards 0.9850, with 0.9800 and 0.9750 forming additional downside targets.



The important levels to watch for today: Support- 0.9850 and 0.9800 Resistance- 0.9900 and 0.9930.

GOLD: The metal needs to stay above $1640; otherwise. $1630/28 may be visible soon. On the upper side, $1660 is the key resistance zones to watch, if the pair breaks and close above this area then the next resistance area to watch is around $1670/72.



The important levels to watch for today: Support- 1638 and 1630 Resistance- 1645 and 1650.

Quote of the day - Trading is a waiting game. You sit, you wait, and you make a lot of money all at once. Profits come in bunches. The trick when going sideways between home runs is not to lose too much in between. -Michael Covel.

Read more - https://gulfbrokers.com/en/daily-market-report-568

 

[syamfx2020]

In recent weeks, the airline giants reported strong earnings for the last quarter as the global travel market continues to show positive signs of recovery from losses incurred because of the Coronavirus pandemic. However, there is still some weakness in the recovery of the airline sector, particularly high-fuel costs and inflation were the two biggest issues facing the aviation sector as it emerges from the COVID-19 pandemic.

Airline stocks post-earnings analysis

Let’s check out the last quarter’s financial results from the top 3 U.S. carriers Delta Air Lines (DAL), United Airlines (UAL) and American Airlines (AAL).

Atlanta-based Delta Airlines (NYSE: DAL) kicked off the third-quarter US airlines earnings on Oct. 13. The airline missed on earnings views but posted record revenue and upbeat forecasts. The airline forecast that revenue during the final three months of the year will top pre-pandemic levels.

• Earnings per share: $1.51 vs. $1.53 expected
• Revenue: $12.84 billion vs. $12.83 billion expected

“Global demand is continuing to ramp as consumers shift spend to experiences, businesses return to travel and international markets continue to reopen,” Delta CEO, Ed Bastian said.

The Chicago-based legacy carrier United Airlines (NASDAQ: UAL) reported stronger-than-expected Q3 2022 earnings results last week. The airline recorded operating revenues of $12.9 billion and United also raised profit estimates for the final quarter of the year.

• Earnings per share: $2.81 vs. $2.29 expected
• Revenue: $12.9 billion vs. $12.7 billion expected

“Despite growing concerns about an economic slowdown, the ongoing Covid recovery trends at United continue to prevail and we remain optimistic that we’ll continue to deliver strong financial results in the fourth quarter, 2023 and beyond.” United Airlines CEO Scott Kirby said.

The world’s largest airline by passenger capacity American Airlines (NASDAQ: AAL) reported its third-quarter 2022 financial results last Thursday. The airline reported record quarterly revenue of $13.5 billion in the third quarter and the net income was $483 million. The airline expects its fourth-quarter total revenue to be 11–13 percent higher versus the fourth quarter of 2019.

• Earnings per share: $0.69 vs. $0.54 expected
• Revenue: $13.46 billion vs. $13.4 billion expected

“Demand remains strong and it’s clear that customers in the U.S. and other parts of the world continue to value air travel and the ability to reconnect post-pandemic,” American Airlines CEO Robert Isom said.

The original article here - https://gulfbrokers.com/en/us-airlines-recovery-continues-boosted-by-robust-air-travel-demand

 

[syamfx2020]

The USDCAD slides a fresh three-week low of 1.3520 on Wednesday morning ahead of the Bank of Canada interest rate decision, which is set to be announced at 14:00 GMT. Traders expect the central bank to raise another 0.75% interest rates again today to combat growing inflation.

During its September meeting, the BoC raises the key interest rates by 0.75% and signalled this won't be the last increase as it continues its battle against high inflation. In the rate announcement, the Bank of Canada said global inflation remains high because of global supply chain disruptions, the effects of COVID-19 and the war in Ukraine.

EQUITIES

US futures extended the gains on Wednesday as Investors are starting to hope the Fed will slow its pace of interest-rate increases in December. Meanwhile, shares of Google's parent company (NASDAQ: GOOGL) fell more than 6% after the company reported lower-than-expected q3 financial results.

On the earnings front, Meta, Ford, and Boeing are among those reporting the last quarter's financial results today.

OIL

Crude oil futures struggling to find upside momentum despite the weaker dollar after the release of API inventory data. The data showed that US crude inventories surged by about 4.5 million barrels last week. Moving ahead to the North American session, oil traders and investors should closely monitor the release of the EIA inventory report.

CURRENCIES

In the currency market, the British pound bounced against the USD and Euro after new British Prime Minister Rishi Sunak pledged to lead the country out of an economic crisis. The dollar slipped to its lowest level in nearly 3 weeks versus a basket of major currencies on Wednesday after the Fed indicated that they will slow down raising interest rates.

GOLD

Gold prices steady after hitting a 2-week high on the dollar retreat high-on-dollar-retreat. The safe-haven metal received additional buying pressure on Tuesday after the release of US consumer confidence data. The consumer confidence index slumped to 102.5 from a revised 107.8 in September.

Economic Outlook

On the data front, Australia’s annual consumer price index reached its highest since December 1990. The consumer prices index (CPI) has risen 7.3% over the past year and increased by 1.8% in the July to September period.

Moving ahead today, the important events to watch:

Canada – BoC interest rate decision and statement: GMT – 14.00

US –EIA crude inventories: GMT – 14.30

Coronavirus update:

Worldwide, more than 627 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.06 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: For today, If the upside momentum continues then the next upside level is to watch 1.0050 and 1.0080. On the downside, any meaningful pullback now seems to find some support near the 1.0000 zones, below which the slide could further get extended towards the 0.9970 regions.



The important levels to watch for today: Support- 1.0000 and 0.9970 Resistance- 1.0050 and 1.0080.

GOLD: In the short-term perceptive, the immediate bias will remain bullish as long as prices are held above $1670. On the downside, any meaningful pullback now seems to find some support near the $1660/58 zones.



The important levels to watch for today: Support- 1662 and 1658 Resistance- 1675 and 1680.

Quote of the day - The single most important advice I can give is, to learn from your mistakes. That is the only way to become a successful trader- David Ryan.

Read more here - https://gulfbrokers.com/en/daily-market-report-569

 

[Babyghea]

Holiday season also around the corner, price could rise higher

 

[syamfx2020]

Euro continues to trade steady as markets wait to hear from the European Central Bank on its latest interest rate decision. The central bank expected to raise interest rates by 75bps for a second consecutive decision. The ECB Monetary Policy Statement is set to be released at 12:15 GMT. Along with this release will see the ECB president Christine Lagarde Conference 30-minutes after at 12:45, ECB Lagarde may sound hawkish on interest rate guidance amid soaring price pressures.

EQUITIES

US futures slightly retreat from the highs after the Facebook parent Meta Platforms (NASDAQ: META) released disappointing third-quarter earnings results. Meta revenue fell 4% to $27.71 billion from $29.01 billion, slightly higher than the $27.4 billion market expectation. “While we face near-term challenges on revenue, the fundamentals are there for a return to strong revenue growth” - Meta CEO Mark Zuckerberg said.

On the earnings front, Apple, Amazon, Shopify, and Pinterest are amongst those reporting the last quarter's financial results today.

OIL

Crude oil futures trade near the session highs, the upside momentum supported by the latest US crude exports data. Total US petroleum exports reached 11.4 million barrels a day last week, according to the Energy Information Administration. On the other hand, the EIA data showed the US crude inventories rose by 2.558 million barrels in the week ended October 21st, compared with market expectations of a 1.029-million-barrel increase.

CURRENCIES

In the currency market, the GBPUSD hovers near weekly highs. However, considering the recent strong rebound in the British pound, the US dollar movement will continue to play a vital role in this currency pair's future direction. The Australian dollar remains one of the strongest currency pairs this week boosted by the gold price and stock market rally.

GOLD

The precious metal trades flat ahead of the release of the US GDP report, markets forecast the US economy to expand at an annualized rate of 2.4% following the 0.6% contraction recorded in the second quarter. As of the writing, the gold price trades near $1660.

Economic Outlook

On the data front, the Bank of Canada (BoC) has decided to slow its pace of rate hikes amid fears of a major global recession. The central bank has increased its benchmark interest rate by 50 basis points to 3.75 percent, consensus market expectations for a 75-basis point hike.

Moving ahead today, the important events to watch:

Eurozone – ECB interest rate decision and statement: GMT – 12.15

US – GDP: GMT – 12.30

US – Durable goods orders: GMT – 12.30

Coronavirus update:

Worldwide, more than 627 million people have been confirmed infected and more than 6.51 million have died. The United States has confirmed over 97 million cases and has had more than 1.06 million deaths from COVID-19, the highest total in the world.

Technical Outlook and Review

EURUSD: For today, the first nearest support level is located at 1.0000. In case it breaks below this level, it will head towards the next support level which is located at near 0.9960 then 0.9930/10. On the upside, 1.0110 will act as an immediate resistance, and a break above this level could open up a buying trend until 1.0180 and 1.0200.



The important levels to watch for today: Support- 1.0000 and 0.9930 Resistance- 1.0100 and 1.0180.

GOLD: For today as long as the metal trades above $1650 levels, the short-term uptrend will remain in place. On the downside, $1652 is the immediate support level, followed by $1645. Further selling pressure will intensify only if the Index break below the $1640 level.



The important levels to watch for today: Support- 1652 and 1648 Resistance- 1670 and 1675.

Quote of the day - “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” ~ Peter Lynch.

Read more - https://gulfbrokers.com/en/daily-market-report-570