Thu, Nov 28, 2024 3:45 PM
Hong Kong proposes tax breaks to attract crypto hedge funds, investors
A Flip by Shubhangi Gupta
Peabody Energy Corp (NYSE:BTU) stock has been chopping lower since its Nov. 6 52-week high of $29.94, down 10% in just the last week. The shares could be headed for a short-term bounce, however, as the pullback has them running into a short-term "buy" signal. BTU just moved below the bottom band of its 20-day Bollinger Bands.
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JPMorgan pivoted to a bullish outlook, raising its 2025 S&P 500 target to 6,500. The bank had a long-held bearish view of the stock market, with a 2024 target of 4,200. The bank cites US exceptionalism, AI growth, and monetary easing by central banks as bullish factors next year. JPMorgan is one of the last bears on Wall Street to throw in the towel and turn bullish.
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Spanish inflation quickened to the fastest pace since August, though the acceleration was driven by base effects and is unlikely to scupper plans for the European Central Bank to continue lowering interest rates. Consumer prices advanced 2.4% from a year ago in November, according to national statistics agency data published Thursday.
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