Long dollar positions no longer stretched – BofA

Broadcom (AVGO) shares reached an all-time high ahead of the company’s quarterly results, due this Thursday, supported by strong fundamental drivers: → Partnership with Microsoft: Media reports suggest Broadcom is in talks with Microsoft to develop custom AI chips.→ Analyst optimism: UBS called Broadcom a “top investment” in the AI sector, citing explosive demand for…

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By David Shepardson WASHINGTON (Reuters) -SpaceX said Thursday it “forcefully rejects” the Federal Aviation Administration’s conclusion that Elon Musk’s company failed to follow U.S. regulations during two rocket launches, alleged violations carrying $633,000 in fines. The FAA on Tuesday faulted SpaceX’s actions ahead of launches in June and July of 2023 in Cape Canaveral, Florida,…

USD/JPY’s steep decline last week suggests that rebound from 145.47 has completed at 149.95. But as a temporary low was formed at 146.58, initial bias remains neutral this week first. Overall, price actions from 150.90 are still seen as a corrective pattern. Above 148.21 will bring stronger rebound to 149.95 first. Firm break there should…

CME Group has announced plans to launch Spot-Quoted futures on June 30, pending regulatory approval. The company says it will introduce new trading opportunities for retail investors in cryptocurrency and equity index markets. The new contracts will allow traders to take long-term futures positions at spot-market prices without the need for frequent rolling, with holdings…

The Dow Jones Industrial Average (US30) rose by 0.43% on Tuesday. The S&P 500 (US500) gained 0.27%, and the tech-heavy Nasdaq (US100) finished 0.33% higher. All three major indices hit record highs despite signs of a slowing economy. Investors digested revised employment data showing that the US added 911,000 fewer jobs than previously estimated in…