Lark Funding - larkfunding.com

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Our world's first 3-Stage Program is officially live! We think, for many of you, this is the program you’ve been waiting for. Also we would pay your profits even if if you hit your daily drawdown unlike other prop firms.

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- 75% Reset Codes
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Newest code is at the end of the thread.

 

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Top News

Wall Street powerhouse predicts rate cuts in 2024
WHAT: The economists over at Goldman Sachs are putting on their prediction goggles and foresee a tantalizing tale of interest rate reductions by the end of June 2024! “The cuts in our forecast are driven by the desire to normalize the Fed Funds Rate from a restrictive level, once inflation is closer to target” Goldman’s economists wrote in a recent note.
WHY: Fed policymakers having been ramping up interest rates since March of 2022, taking the benchmark rate to a range of 5.25%-5.50%.

China’s banking conditions deteriorate
WHAT: Looks like China’s economy had a bit of a credit hiccup in July! According to data from the People’s Bank of China, Chinese banks extended 245.9 billion yuan ($47.80 billion) in July — a whopping 89% drop from the prior month, marking the sharpest decline since late 2009, and falling far short of analysts’ forecasts.
WHY: Hobbled by weak demand at home and abroad, China’s economic momentum has faltered in recent months despite strong bank lending in the first half.

Steel Wars!
WHAT: US Steel Corp gave rival Cleveland-Cliffs a polite “thanks, but no thanks” to a takeover offer that promised to create one of the world’s biggest steel makers. The company said it would begin a review of its “strategic options” instead. Cleveland-Cliffs proposed a takeover bid which valued US Steel at about $7.25 billion, a 43% premium to the company’s most recent closing share price.
WHY: The bid comes at a time when producers including US Steel are predicting that domestic demand will benefit from green-energy infrastructure and manufacturing projects, bolstered by the Biden Administration’s Inflation Reduction Act.

 

[v1forex]

Top News

Biden calls on automakers, union to strike “fair” agreement
WHAT: US President Joe Biden has thrown a “lets-all-get-along” wrench into the negotiation machinery as he urged auto workers and Detroit’s Big Three automakers to come together on a new agreement ahead of next month’s contract expirations. “I’m asking all sides to work together to forge a fair agreement” Biden said in a statement.
WHY: Facing the risk of a potential strike, automakers have said they face rising development costs as the industry shifts to EVs and spend billions constructing battery plants.

US Treasury Secretary: US economy on the right track
WHAT: US Treasury Secretary Janet Yellen is feeling mighty confident about the state of the US economy! Delivering remarks at a union facility in Las Vegas, Yellen said the economy was on the “right track” as it continued to transition from recovery to growth. “Workers are better off than they were last year. Real hourly earnings have grown in the last year” Yellen said.
WHY: The US economy has outrun recession warnings with record-low unemployment, strong wage gains, and better-than-expected GDP growth.

Hollywood studios extend olive branch to screenwriters
WHAT: Lights, camera, negotiations! Hollywood studios have made a new offer to striking screenwriters that includes concessions on issues such as the use of artificial intelligence and access to viewer data according to reports from Bloomberg.
WHY: The strike by Hollywood writers began on May 2 after talks between the Writers Guild of America and major studios reached an impasse over compensation, minimum staffing of writers’ rooms and residual payment in the streaming era among others.

 

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[v1forex]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Wednesday, U.S. stocks closed lower as the S&P 500 recorded losses of 33 points (-0.76%) to 4,404, the Nasdaq 100 dropped 161 points (-1.07%) to 14,876 and the Dow Jones Industrial Average declined 180 points (-0.52%) to 34,765.

the Automobiles & Components (-2.88%) and Semiconductors & Semiconductor Equipment (-1.63%) sectors led the decline, while the Insurance (+1.37%), Utilities (+0.46%) sectors outperformed.

Tesla (TSLA), the electric-vehicle maker, fell 3.16% as the company cut prices in China for the second time in three days.

Intel (INTC), a designer and manufacturer of microprocessors, dropped 3.57% as it mutually agreed with Tower Semiconductor (TSEM) to terminate its previously disclosed agreement to acquire Tower due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.

In earnings news, Target (TGT), a leading general merchandise discount retailer, rose 2.96% as second-quarter adjusted EPS topped estimates. Agilent Technologies (A), an international life sciences and diagnostics company, fell 3.41% after slashing full year adjusted EPS and sales guidance. H&R Block (HRB), a provider of tax return services, climbed 9.7% as quarterly earnings topped estimates.

On the U.S. economic data front, the Federal Reserve's latest FOMC meeting minutes showed that "most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy". Meanwhile, annualized housing starts for July were announced at 1.45 million units, as expected, while building permits came in at 1.44 million units, below 1.46 million units estimated. Also, industrial production grew 1.0% on month in July, above 0.2% forecasted.

The U.S. 10-year Treasury Yield gained 5.1 basis points to 4.262%, up for a fifth straight session.

European stocks were mixed, as the Dax 40 rose 0.14%, while the Cac 40 fell 0.10% and the FTSE 100 was down 0.44%.

WTI Crude Futures (September) dropped $1.61 to $79.38, posting a 3-day decline. The U.S. Energy Information Administration reported that crude oil inventories slid 5.96 million barrels in the week ending August 11, compared with an expected draw of 2.32 million barrels.

Spot gold was down $9 to $1,893, its lowest level since March.

Market Wrap: Forex

The U.S. dollar index gained 0.2% to 103.43.

EUR/USD fell 28 pips to 1.0877. The eurozone's second estimate of second quarter gross domestic product was up 0.6% on year as anticipated, while industrial production grew 0.5% on month in June, vs -0.3% expected.

GBP/USD rose 19 pips to 1.2724. U.K. consumer price index rose 6.8% on year in July, below 6.9% expected and 7.9% in June.

USD/JPY jumped 76 pips to 146.33 and USD/CHF added 17 pips to 0.8802.

AUD/USD slid 34 pips to 0.6421. Later today, Australia's employment is expected to increase by 25,100 in July, while jobless rate is anticipated to be steady at 3.5%.

USD/CAD increased 38 pips to 1.3536. Canada's annualized housing starts totaled 255,000 units in July, above 243,000 units expected.

Bitcoin fell to $28,969.

 

[v1forex]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Thursday, U.S. stocks closed in negative territory for a third consecutive trading session amid growing concerns on additional Fed rate hikes. The S&P 500 slid 34 points (-0.77%) to 4,370, the Nasdaq 100 declined 161 points (-1.08%) to 14,715 and the Dow Jones Industrial Average slid 291 points (-0.84%) to 34,474.

The Automobiles & Components (-2.31%), Consumer Durables & Apparel (-2.28%), and Health Care Equipment & Services (-1.98%) sectors underperformed the most during the trading session.

Mega-cap companies suffered heavy losses, Meta Platforms (META), a social technology company, slid 3.13% and Tesla (TSLA), the electric-vehicle maker, dropped 2.83%.

In earnings news, Walmart (WMT), the retail giant, fell 2.24% despite posting quarterly earnings above expectations and raising full-year adjusted EPS guidance.

Cisco Systems (CSCO), a leading global supplier of network hardware and software, rose 3.34% after posting fourth-quarter top and bottom-line figures that beat estimates.

Wolfspeed (WOLF), a leader in Silicon Carbide technology, plunged 17.06% as its quarterly loss was wider than expected.

On the U.S. economic data front, initial jobless claims for the week ended August 12 were posted at 239,000, against 241,000 expected and 250,000 in the prior week. Meanwhile, the Philadelphia Fed Manufacturing Index jumped to 12 in August from -13.5 in July, above -8.0 forecasted. Also, the Leading Index dropped 0.4% on month in July, as anticipated.

The U.S. 10-year Treasury Yield climbed for a sixth consecutive day, gaining 3.2 basis points to 4.282%.

European stocks were broadly lower. The Dax 40 fell 0.71%, the Cac 40 slid 0.94% and the FTSE 100 dropped 0.63%.

WTI Crude Futures (September) rebounded $1.01 to $80.39, following a 3-day decline.

Spot gold was down for a fourth straight session, dropping $3 to $1,889.

Market Wrap: Forex

The U.S. dollar index was relatively stable at 103.42.

EUR/USD dipped 7 pips to 1.0872. The eurozone's trade surplus for June was released at 23 billion euros, against 600 million euros expected.

GBP/USD added 13 pips to 1.2745. Later today, U.K. retail sales are expected to be down 0.3% on month in July.

USD/JPY lost 55 pips to 145.80 and USD/CHF fell 16 pips to 0.8784.

AUD/USD dropped 21 pips to 0.6403. The Australian economy shed 14,600 jobs in July, compared with an expected increase of 25,100, while the jobless rate climbed to 3.7%, above 3.5% estimated.

USD/CAD rose 12 pips to 1.3545. Canada's producer prices index for July, due later in the day, is estimated to drop 3.1% on year.

Bitcoin sank to its lowest level in nearly 2 months at $27,803.

 

[v1forex]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Friday, U.S. indices were mixed after consecutive choppy sessions, as the S&P 500 fell 1 point (-0.01%) to 4,369, the Nasdaq 100 slid 21 points (-0.14%) to 14,694, while the Dow Jones Industrial Average gained 26 point (+0.07%) to 34,500. For the whole week, the three indices dropped more than 2.00%.

The Energy (+0.94%) and Food & Staples Retailing (+0.52%) sectors were the top performers, while the Automobiles & Components (-1.29%) and Media (-1.11%) sectors underperformed the most during the trading session.

WeWork (WE), a provider of coworking spaces, plunged 11.27% after the company decided to move forward with a 1-for-40 reverse stock split.

XPeng (XPEV), a Chinese producer of electric vehicles, declined 4.28% as quarterly loss was wider than expected.

Keysight Technologies (KEYS), a provider of electronic measurement devices and software solutions, sank 13.78% as current quarter outlook disappointed investors.

Applied Materials (AMAT), the global leader in materials engineering solutions for the semiconductor industry, rose 3.68% on favorable third-quarter results and fourth-quarter adjusted EPS guidance that topped estimates.

Ross Stores (ROST), a leading American off-price apparel and home fashion retailer, climbed 5.01% on second-quarter EPS figures that beat expectations.

The U.S. 10-year Treasury Yield eased 2.5 basis points to 4.249% following a 6-day rally.

European stocks were under pressure. The Dax 40 fell 0.65% the Cac 40 slid 0.38% and the FTSE 100 declined 0.65%.

WTI Crude Futures closed at to $81.28, broadly unchanged from the prior session.

Spot gold was about flat at $1,889.

Market Wrap: Forex

The U.S. dollar index eased 0.2% to 103.38, while posting a 5-week rally.

EUR/USD lost 2 pip to 1.0870. The eurozone's final reading of the consumer price index for July was confirmed at 5.3% on year, as expected.

GBP/USD dropped 18 pips to 1.2729. The U.K. retail sales were down 1.2% on month in July, compared with -0.3% estimated.

USD/JPY declined 48 pips to 145.36, while USD/CHF increased 39 pips to 0.8824.

AUD/USD dipped 2 pip to 0.6402 and USD/CAD added 7 pips to 1.3553. Canada's producer prices index dropped 2.7% on year in July, compared with -3.1% expected.

Bitcoin slid 5.7% further to $26,196.

 

[v1forex]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Monday, U.S. stocks closed mostly in positive territory, as the S&P 500 rose 30 points (+0.69%) to 4,399 and the Nasdaq 100 jumped 242 points (+1.65%) to 14,936, while the Dow Jones Industrial Average fell 37 points (-0.11%) to 34,463.

The Automobiles & Components (+6.07%) and Semiconductors & Semiconductor Equipment (+4.86%) sectors led the advance, while the Consumer Durables & Apparel (-1.38%) and Real Estate (-0.92%) sectors underperformed throughout the trading session.

Tesla (TSLA), the electric-vehicle maker, climbed 7.33%, halting a 6-day decline. Peer XPeng (XPEV) rose 9.68% as it was upgraded to "buy" from "neutral" at BofA.

Palo Alto Networks (PANW), a global cybersecurity leader, jumped 14.84% after posting better-than-expected fourth-quarter bottom line figures after the close last Friday.

Nvidia (NVDA), a leading designer of graphics processors, gained 8.47% as its price target was raised to 780 dollars from 600 dollars at HSBC.

Broadcom (AVGO), a developer of semiconductor, added 4.76% after the U.K. CMA cleared its planned acquisition of VMware (VMW).

The U.S. 10-year Treasury Yield climbed 8.5 basis points to 4.34%, the highest level since 2007.

European stocks were mixed as the Dax 40 rose 0.19% and the Cac 40 increased 0.47%, while the FTSE 100 fell 0.60%.

WTI Crude Futures (September) slipped $0.53 to $80.72.

Spot gold was up $5 to $1,895.

Market Wrap: Forex

The U.S. dollar index was relatively unchanged at 103.35. Later today, the U.S. existing home sales are expected to down 0.5% on month in July, while the Richmond Fed manufacturing index is anticipated to improve to -6 in August.

EUR/USD rose 21 pips to 1.0894. Germany's producer prices index declined 6.0% on year in July, compared with -4.4% expected and +0.1% in June.

GBP/USD gained 20 pips to 1.2754.

USD/JPY jumped 84 pips to 146.23, while USD/CHF dropped 34 pips to 0.8786.

AUD/USD added 8 pips to 0.6414 and USD/CAD fell 4 pips to 1.3549.

Bitcoin traded lower to $26,111.

 

[v1forex]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Tuesday, U.S. stocks closed lower as the S&P 500 fell 12 points (-0.28%) to 4,387, the Nasdaq 100 dropped 28 points (-0.19%) to 14,908 and the Dow Jones Industrial Average slid 175 points (-0.51%) to 34,288.

The Banks (-2.41%) and Semiconductors & Semiconductor Equipment (-1.7%) sectors led the decline, while the Technology Hardware & Equipment (+0.64%) and Telecommunication Services (+0.55%) sectors outperformed during the trading session.

Microsoft (MSFT), the software development company, rose 0.18% after the U.K. CMA opened a new phase 1 investigation into a new, restructured deal by the company to buy Activision (ATVI). Under the new deal, Microsoft will not acquire the cloud streaming rights to all current and future Activision games released during the next 15 years (excluding in the European Economic Area).

Charles Schwab (SCHW), an investment brokerage group, fell 4.95% as it plans to close some corporate offices and slash job cuts to save as much as 500 million dollars in costs.

Keycorp (KEY), a middle-market commercial bank, dropped 4.13% following S&P Global Ratings' downgrades on some U.S. banks.

Baidu (BIDU), the Chinese technology company, rose 2.75% on quarterly sales that topped estimates.

Zoom Video Communications (ZM), the leader in modern enterprise video communications, fell 2.14% despite second-quarter top and bottom-line figures that beat estimates while full year adjusted EPS guidance also topped expectations.

Macy's (M), the department store chain, plunged 14.05% after comparable sales were down significantly from a year ago.

AMC Entertainment (AMC), the theatrical exhibition company, sank 18.27% after a Delaware Supreme Court ruled that the company's preferred APE shares could be converted to common shares.

On the U.S. economic data front, existing home sales declined 2.2% month over month in July, against an initial drop of 0.5% expected, while the Richmond Fed Manufacturing Index improved to -7 in August from -9 in July, but lower than the forecasted -6.

The U.S. 10-year Treasury Yield slipped 1 basis point to 4.328%.

European stocks were broadly higher. The Dax 40 rose 0.66%, the Cac 40 gained 0.59% and the FTSE 100 added 0.18%.

WTI Crude Future (October) fell $0.48 (-0.60%) to 79.64. The American Petroleum Institute said that the U.S. crude inventories dropped 2.42 million barrels in the week ending August 18, compared with an expected draw of 2.90 million barrels.

Spot gold was up $3 to $1,898.

Market Wrap: Forex

The U.S. dollar index climbed 0.3% to 103.61.

EUR/USD declined 50 pips to 1.0846 and GBP/USD fell 26 pips to 1.2730.

USD/JPY dropped 29 pips to 145.93 while USD/CHF added 19 pips to 0.8804.

AUD/USD rose 9 pips to 0.6423 and NZD/USD was up 20 pips to 0.5946. Earlier today, official data showed that New Zealand's retail sales dropped 3.5% on year in the second quarter, compared with an estimated growth of 2.8%.

USD/CAD gained 12 pips to 1.3556. Later today, Canada's retail sales are expected to be down 0.1% on month.

Bitcoin extended its decline to $25,809.

 

[v1forex]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Wednesday, U.S. stocks closed in positive territory as the S&P 500 rose 49 points (+1.11%) to 4,436, the Nasdaq 100 jumped 239 points (+1.6%) to 15,148 and the Dow Jones Industrial Average gained 184 points (+0.54%) to 34,472.

The Semiconductors & Semiconductor Equipment (+2.47%) and Media (+2.12%) sectors led the advance, while the Consumer Durables & Apparel (-0.79%) and Energy (-0.3%) sectors underperformed the most during the trading session.

NetFlix (NFLX), the video streaming service, rose 3.48% as the company continued to add new users in the U.S., according to research provided by Antenna, as the streaming giant cracks down on password sharing.

Foot Locker (FL), a global athletic footwear and apparel retailer, plunged 28.28% after cutting full-year guidance and pausing its dividend.

Urban Outfitters (URBN), the clothing retailer, rose 3.05% as quarterly earnings topped estimates.

Peloton Interactive (PTON), the interactive fitness platform, sank 22.6% after delivering disappointing revenue and adjusted EBITDA guidance for the current quarter.

On the U.S. economic data front, the S&P Global Manufacturing Purchasing Managers Index for August was reported at 47, below 49.5 expected, while the services PMI came in at 51.0, also below the 52.0 anticipated. Meanwhile, annualized new home sales for July were 714,000 units, above 686,000 units estimated.

The U.S. 10-year Treasury Yield dropped 13.6 basis points to 4.188%.

European stocks were broadly higher. The Dax 40 rose 0.15%, the Cac 40 gained 0.08% and the FTSE 100 climbed 0.68%.

WTI Crude Futures (October) fell $0.75 to $78.89. The U.S. Energy Information Administration reported that crude oil inventories dropped 6.14 million barrels in the week ending August 18, compared with an expected draw of 2.85 million barrels.

Spot gold rose $18 to $1,915, near a 2-week high, as weak U.S. PMIs eased rate hike expectations.

Market Wrap: Forex

The U.S. dollar index slipped 0.14% to 103.41.

EUR/USD added 16 pips to 1.0862. The eurozone's HCOB Manufacturing Purchasing Managers index improved to 43.7 in August, above 42.6 expected, while Services PMI declined to 48.3, below 50.7 estimated.

GBP/USD lost 16 pips to 1.2716. In the U.K., the S&P Global Manufacturing PMI fell to 42.5 in August, below 45.2 anticipated, and Services PMI was down to 48.7, below 50.5 expected.

USD/JPY slid 104 pips to 144.85 and USD/CHF dropped 24 pips to 0.8780.

AUD/USD rose 49 pips to 0.6472, while USD/CAD slid 13 pips to 1.3537. Canada's retail sales grew 0.1% on month in June, against a decline of 0.1% anticipated.

Bitcoin rebounded 2.9% to $26,545.

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