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Category: Forex News

The Market News Today: ISM Services PMI Anticipated with Lingering Inflation Concerns

Moody’s latest deposit rating cut for New York Community Bank sparks concerns about retaining deposits. The bank’s main subsidiary faces a downgrade to Ba3, three levels below investment grade. Analysts predict potential contractual obligations from business clients, while the bank’s stock plummets amid a 73% decline this year. With deposits under scrutiny, concerns arise about flight of funds and the bank’s ability to maintain operations amidst the rating downgrade. (CNBC)

Tech Titans AMD and Nvidia Clash Over AI Chip Dominance”

As artificial intelligence drives a surge in chip demand, industry giants AMD and Nvidia vie for dominance. Deloitte predicts AI chip sales will surpass $50 billion in 2024, with Nvidia’s recent market surge adding over $277 billion in value. AMD’s MI300X challenges Nvidia’s H100 in AI, prompting analysts to raise price targets. With forecasts of continued growth, both companies aim to capture market share, intensifying competition in the semiconductor sector. (The Street)

February CPI Report: The Next Market Catalyst?

Fundstrat’s note highlights the upcoming February CPI report, due on March 12, as a pivotal moment for investors. Tom Lee warns of potential anxiety if the inflation reading is ‘hot,’ building on January’s unexpected spike. Seasonal pricing dynamics suggest January’s trends could extend into February, possibly leading to hawkish Fed actions. Lee anticipates a significant market sell-off if the CPI report exceeds expectations, potentially challenging the stock market’s record rally. (Business Insider)

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