Ethiopia Debuts Stock Trading, Six Months After Opening Exchange
'Today marks another milestone for ESX and stakeholders that worked hard for the past few years to deepen the Ethiopian capital market,' Chief Executive Officer Tilahun Kassahun said.
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Gold Surges to $3350 as Tariffs and Weak Jobs Data Rattle Markets
Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated assets— and may continue to in the future. Here's what you need to know: Gold spot prices surged to $3350/oz Friday after a weak Jobs Report and new tariffs triggered a market shock. Earlier in the week, gold briefly dipped below $3300/oz amid Fed uncertainty and profit-taking. The Fed held rates steady but hinted that future moves depend on inflation and tariff-driven risks. Volatility is expected to carry over into next week due to limited economic data and elevated uncertainty. So, What Kind of a Week Has it Been? Financial markets, both as a technical marketplace and as a mass of people, appeared to be riding the waves pretty smoothly for much of this week. Those waves being one of the highest profile weeks, from a macroeconomic data perspective, in some time, as well as the potential pivot-points of the July FOMC meeting and the enactment of another raft of Trump Tariffs against many of the US' foundational trading partners. Gold Slides Early, Then Spikes For gold specifically, trading in the first days of the week was frothy at times as traders positioned themselves for mid-week fireworks and made liquidations to lock in profits before closing the book of business for July. On net, the yellow metal slid slightly lower during these sessions but appeared to have healthy support and ultimately traded comfortably in a band between $3320-3330/oz in the spot market. Very early Wednesday morning, as managers and investors prepared for the FOMC announcement (and, to a lesser extent, the first-look at US GDP for Q2,) gold endured the sharpest sell-off of the week, breaking down support and taking spot below $3300 just before the US cash-market opened and continuing to slide to the weekly nadir at $3270/oz. FOMC Holds Steady, Market Digests The FOMC's July announcement was delivered largely as expected: No rate cut yet, to the chagrin of the US administration among others, and a refusal to directly suggest that a cut in September (to say nothing of the Jackson Hole summit this month) is anything more than a possibility while pointing to the potential inflationary effects of the US' Trump Tariff policy clicking into effect in August as the main reason for needing to 'wait and see.' Gold prices reacted with a moderate rebound, although any rally higher for the precious metal was going to be muted by headwinds following on from the Fed announcement (recall, much of gold's upward mobility in 2025 has been based on an expectation of lower rates.) When Asian markets opened for Thursday's trading, however, the chop-and-change as traders unwound pre-FOMC positions or otherwise locked in positions and/or profits ahead of both month-end and the eleventh hour before the US' threatened trade restrictions had an unexpected effect of pushing gold higher. The yellow metal peeked briefly back above $3300 before the start of US trading, and another US Dollar rally wound gold back to the neighborhood of $3290. Jobs Report Shock and Tariffs Ignite a Rally From here, it looked as if gold would end up closing the week at a moderate loss between Sunday evening's opening bids and Friday's close. But the double-whammy of a slew of the Trump Administration's punitive tariff rates going into effect as of August 1, combined with a very ugly July Jobs Report, has tripped markets into a powder keg. The resulting explosion in volatility has shot gold spot prices sharply higher. July's Non-Farm Payrolls data, expected to show +100K jobs added to the US economy, instead came in at a disappointing 73K while also making drastic downward revisions to the prior two months' reporting. This, as much as anything, has been the catalyst for gold's aggressive spike to end the week, quickly jumping $40/oz to $3340 minutes after the print before picking up another +$10/oz once US markets opened. The primary signals here were clear pluses for gold as an asset. On one hand, gold benefits from the inherent shock of instability and uncertainty the Jobs Report has flushed into markets (which has, at the same time, rocked equities lower.) On the other hand, the dominant read of this data is that it piles much stronger pressure on the Fed to begin easing conditions by cutting rates, another boon for gold. What's Next? This shock has been so acute and aggressive, and has come so close to the end of the week, that it is likely we will see momentum carry on when markets reopen on Sunday evening. If it can hold serve, we may see more risk-off rebalancing into gold positions as the calendar ahead is much, much lighter on consequential macro data. In the meantime, traders, I hope you can get out and safely enjoy your weekend for the next couple of days. After that, I'll see you back here next week for another market recap. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
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Jabil (JBL) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Jabil (JBL) closed at $218.56, marking a -2.07% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.6%. Meanwhile, the Dow experienced a drop of 1.23%, and the technology-dominated Nasdaq saw a decrease of 2.24%. Heading into today, shares of the electronics manufacturer had lost 1.26% over the past month, lagging the Computer and Technology sector's gain of 4.45% and the S&P 500's gain of 2.25%. Market participants will be closely following the financial results of Jabil in its upcoming release. The company's upcoming EPS is projected at $2.92, signifying a 26.96% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $7.6 billion, reflecting a 9.17% rise from the equivalent quarter last year. JBL's full-year Zacks Consensus Estimates are calling for earnings of $9.39 per share and revenue of $29.15 billion. These results would represent year-over-year changes of +10.6% and +0.93%, respectively. Any recent changes to analyst estimates for Jabil should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% higher. Currently, Jabil is carrying a Zacks Rank of #1 (Strong Buy). With respect to valuation, Jabil is currently being traded at a Forward P/E ratio of 23.78. This valuation marks a premium compared to its industry average Forward P/E of 21.71. It's also important to note that JBL currently trades at a PEG ratio of 1.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Electronics - Manufacturing Services industry held an average PEG ratio of 1.44. The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 9, which puts it in the top 4% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Jabil, Inc. (JBL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
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an hour ago
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CleanSpark (CLSK) Declines More Than Market: Some Information for Investors
CleanSpark (CLSK) closed the most recent trading day at $10.44, moving -8.22% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.6%. At the same time, the Dow lost 1.23%, and the tech-heavy Nasdaq lost 2.24%. The stock of company has fallen by 7.18% in the past month, lagging the Finance sector's gain of 0.8% and the S&P 500's gain of 2.25%. The upcoming earnings release of CleanSpark will be of great interest to investors. The company's earnings report is expected on August 7, 2025. The company is predicted to post an EPS of $0, indicating a 100% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $195.09 million, up 87.39% from the prior-year quarter. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.82 per share and a revenue of $769.59 million, signifying shifts of +415.38% and +103.08%, respectively, from the last year. Investors might also notice recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 106.25% higher. At present, CleanSpark boasts a Zacks Rank of #2 (Buy). Investors should also note CleanSpark's current valuation metrics, including its Forward P/E ratio of 13.93. This indicates a premium in contrast to its industry's Forward P/E of 12.03. The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 29% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleanspark, Inc. (CLSK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
