Market

Belgium’s Financial Services and Markets Authority (FSMA) today published the dashboard on investment fraud for the first half of 2024.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/20240720_ASX_danh_gia_san_Yen_Anh_FSMA_1_b15317307b.jpg" alt="FSMA_1"></figure>Fraudulent trading platforms and cryptocurrency scams still represent about half of the reports about unlawful activities received by the FSMA. However, recovery room fraud is on the rise.The FSMA has observed that fraudsters almost systematically re-contact victims of earlier frauds in order to offer them so-called “assistance” in recovering losses incurred. Reports concerning these fraudulent proposals (“recovery room” fraud) have increased by 59% compared to the same period in 2023.The other types of fraud for which the FSMA was contacted remained stable in the first half of 2024.During the first half of 2024, the FSMA published 9 new warnings against a total of 187 fraudulent entities and 239 websites.The FSMA has noticed a significant increase in the number of consumer reports in the first half of 2024.In the first six months of 2024, the FSMA received 1,332 consumer reports about unlawful activities. In 2023, the FSMA received a total of 925 reports in the first half of the year. This represents an increase of 44%.More than half (52.3%) of these reports were complaints from consumers who had lost money because of investment fraud or false offers of credit. The remaining reports were questions from consumers who asked the FSMA for information about unlawful activities or suspicious market participants, but who had not yet paid any funds.One of the tasks entrusted to the Financial Services and Markets Authority (FSMA) is to combat unlawful activities in the area of financial investments. It publishes a dashboard that provides statistics and an overview of the main trends regarding investment fraud.fxnewsgroup

Belgium’s Financial Services and Markets Authority (FSMA) today published the dashboard on investment fraud for the first half of 2024.

Belgium’s FSMA registers rise in recovery room fraud in H1 2024

NEW YORK, Sept 6 (Reuters) - Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Dau_ghi_nhan_muc_giam_lon_trong_tuan_bccf2b88d7.jpg" alt="Dầu ghi nhận mức giảm lớn trong tuần "></figure>Brent crude futures were down $1.63, or 2.24%, to $71.06 a barrel, their lowest level since Dec. 2021. U.S. West Texas Intermediate crude futures fell $1.48, or 2.14%, to$67.67, their lowest since June 2023.For the week, Brent declined 10%, while WTI dropped around 8%.U.S. government data showed employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown that may not warrant a big interest rate cut from the Federal Reserve this month."The jobs report was a little soft and implied that the economy in the U.S. is on the slide," Bob Yawger, executive director of energy futures at Mizuho.Concerns around Chinese demand also kept pressuring oil prices, Yawger said.On Thursday, Brent settled at its lowest since June 2023 despite a withdrawal from U.S. oil inventories and a decision by OPEC+ to delay planned oil output increases.U.S. crude stockpiles fell by 6.9 million barrels to 418.3 million barrels last week, compared with a projected decline of 993,000 barrels in a Reuters poll of analysts.Washington is warning against Nippon Steel’s takeover of U.S. Steel, saying it would create national security risks.Signals that Libya's rival factions could be closer to an agreement to end the dispute that has halted the country's crude exports also pressured oil prices this week. Exports remained mostly shut in but some loadings have been permitted from storage.Bank of America lowered its Brent price forecast for the second half of 2024 to $75 a barrel from almost $90 previously, it said in a note on Friday, citing building global inventories, weaker demand growth and OPEC+ spare production capacity.The U.S. active oil rig count, an early indicator of future output, remained unchanged at 483 this week, energy services firm Baker Hughes (BKR.O), opens new tab reported on Friday.Money managers cut their net long U.S. crude futures and options positions in the week to Sept. 3, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday."Provided the situation in the Middle East does not escalate further, the oil price is likely to tread water," the Commerzbank analysts said.A string of data releases from the U.S. kept a floor under oil prices: retail sales beat analysts' expectations, and fewer Americans filed new jobless claims last week, sparking renewed optimism around economic growth in the biggest oil market.Oil prices could lack direction until the U.S. Federal Reserve decides whether to cut interest rates at its September meeting, independent oil analyst Gaurav Sharma said.Low liquidity likely fed price volatility this week as many European and North American investors were still on holiday, UBS analyst Giovanni Staunovo said.One of the three OPEC+ sources, all of whom declined to be identified by name, said the meeting would serve as a "pulse check" for the health of the market.Oil has risen in 2024 and was trading around $85 a barrel on Thursday, finding support from Middle East conflict and falling inventories. Concern about higher for longer interest rates and demand has limited gains this year.The Saudi government communications office did not immediately return a request for comment. OPEC's headquarters in Vienna did not immediately respond to a request for comment.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Dau_ghi_nhan_muc_giam_lon_trong_tuan_48b4a22266.jpeg" alt="Dầu ghi nhận mức giảm lớn trong tuần "></figure>OPEC+ is currently cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand, in a series of steps agreed since late 2022.At its last meeting in June, OPEC+ agreed to extend cuts of 3.66 million bpd by a year until the end of 2025 and to prolong the most recent layer of cuts - a 2.2 million bpd cut by eight members - by three months until the end of September 2024.OPEC+ will gradually phase out the cuts of 2.2 million bpd over the course of a year from October 2024 to September 2025.In June, Saudi Energy Minister Prince Abdulaziz bin Salman had said OPEC+ could pause or reverse the production hikes if it decided the market is not strong enough.The JMMC usually meets every two months and can make recommendations to change policy which could then be discussed and ratified in a full OPEC+ ministerial meeting of all members.Italy's renewable power output overtakes fossil fuels for first timeMILAN, July 18 (Reuters) - Italy's power production from renewable sources surpassed fossil fuel output for the first time during the first six months of this year, the power grid operator Terna (TRN.MI), opens new tab said on Thursday.On 22 June, hourly production from green sources reached a historic peak of 33.2 gigawatt (GW) in Italy, the grid operator said in a statement.The figures are a boost for Italy's efforts to pivot towards cleaner forms of generation. Under its energy and climate plan (PNIEC), Italy plans to increase the electricity produced by renewables to 63% of the total by the end of this decade.reuters

NEW YORK, Sept 6 (Reuters) - Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers.



Oil settles down 2%, big weekly drop after US jobs data

As of 1:39 PM on September 6, shares of VNG Corporation (UPCoM: VNZ) had dropped nearly 11%, with a slight recovery after hitting the floor during the morning session. Today's trading volume also reached a record high since the company’s listing on UPCoM.On September 6, VNZ shares began to plunge sharply after 11 AM, hitting the floor price of VND 437,800 per share before the midday break.In the afternoon session, a larger volume of shares began to change hands. By 2:25 PM, more than 15,200 shares had been traded, marking the highest liquidity for VNZ since its UPCoM debut. The average trading volume from the start of the year to the end of the September 5 session was under 2,000 shares per day. Data from VietstockFinance shows that the traded shares were valued at approximately VND 6.1 billion.VNZ stock hit the floor at one point before making a slight recovery.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_de2d0d011d.png" alt="1.png"></figure>Data as of 1:59 PM on September 6.VNZ's Performance Since Listing on UPCoM<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/2_75c76fd224.png" alt="2.png"></figure> &nbsp;

As of 1:39 PM on September 6, shares of VNG Corporation (UPCoM: VNZ) dropped nearly 11%, slightly recovering after hitting the floor during the morning session. Today's trading volume also reached a record high since the company's listing on UPCoM.

VNG Shares Plunge Sharply, Hitting the Floor at Times

Gold prices fell to their lowest level in nearly two weeks on Wednesday (September 4), extending their decline for a fourth consecutive session, as the market anticipates a slight interest rate cut by the U.S. Federal Reserve at this month’s policy meeting.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/090524_vang_fbc50cc95d.jpg" alt="090524-vang.jpg"></figure>At the close of trading on September 4, spot gold slipped 0.02% to $2,493.33 per ounce, while gold futures fell 0.06% to $2,524.40 per ounce.Peter A. Grant, Vice President and Senior Metals Strategist at Zaner Metals, stated, “The pressure largely stems from expectations that the Fed will only cut rates by 0.25% in September. The prospects for a larger 0.50% rate cut have diminished.”According to the CME FedWatch tool, investors are confident that the Fed will lower interest rates this month, with a 59% probability that the rate will be cut by 0.25%.This week's U.S. economic data, including the ADP employment report, weekly jobless claims data set for release on September 5, and the official jobs report on September 6, will be closely monitored for signals on the Fed’s rate-cut trajectory.Rhona O’Connell, an analyst at StoneX, noted that gold is also under pressure due to margin calls related to the stock market’s decline.Global equities fell on Wednesday as technology stocks plunged, impacted by a record selloff in chipmaker Nvidia, and as forecasts of slowing global growth negatively affected risk assets.Grant added, “I still believe precious metals are on an upward trend, and these dips are merely corrections.”Gold has surged 20% since the start of the year, hitting an all-time high of $2,531.60 per ounce on August 20.

Gold prices fell to their lowest level in nearly two weeks on Wednesday (September 4), extending their decline for a fourth consecutive session, as the market anticipates a slight interest rate cut by the U.S. Federal Reserve at this month’s policy meeting.

The global gold price has dropped for four consecutive sessions, hitting its lowest level in nearly two weeks.

Investors should "go for gold" as the precious metal's stellar run isn't over, Goldman Sachs analysts said in a research note.On Tuesday, gold futures (GC=F) hovered above $2,515 per ounce. The precious metal is off its all-time high touched last month but still up nearly 22% year to date, making it the world's second-best-performing asset behind crypto."Our preferred near-term long is gold. It remains our preferred hedge against geopolitical and financial risks, with added support from imminent Fed rate cuts and ongoing EM central bank buying," wrote Goldman Sachs analysts on Sunday.The firm maintains a 2025 target of $2,700 per ounce and issued a "long gold" recommendation.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_9449df0e14.webp" alt="1.webp"></figure>Purchases by central banks, which hit a record in the first quarter of 2024, have been one of the biggest drivers of the precious metal's rise this year. BofA analysts estimate gold has now surpassed the euro to become the world's largest reserve asset, second only to the US dollar.Geopolitical risks such the Israel-Hamas war and Russia-Ukraine conflict, as well as signals from the Federal Reserve of a September rate cut amid signs of a slowing labor market, have also buoyed prices."We're seeing gold being used as an uncertainty hedge," said Tom Bruni, head of market research at Stocktwits, in a recent episode of Stocks in Translation.Global physically backed gold ETFs have now seen inflows three months in a row as Western investors pile into gold, with North American activity outpacing Europe and Asia in July, according to the latest World Gold Council data.In the near term, traders may be wondering if gold will succumb to a historically negative trend for assets this month. The yellow metal has declined every September since 2017, according to Bloomberg data.Analysts expect the commodity's next catalyst will come when the Federal Reserve meets this month following a week of fresh labor data and a crucial monthly jobs report on Friday."Gold prices continue to hover at around $2,500/oz with focus primarily on the size of the expected upcoming Fed rate cut later this month," wrote JPMorgan analysts in a note on Tuesday.As of early Tuesday, traders were pricing in a 31% probability of a 50 basis point cut instead of 25 basis points, per the CME FedWatch Tool.

Investors should "go for gold" as the precious metal's stellar run isn't over, Goldman Sachs analysts said in a research note.

Investors should 'go for gold' as Fed rate cut looms, Goldman says

Bitcoin (BTC) has started the week on a down note, trading within the $58,000 range after briefly surpassing $60,000.Analysts warn that conditions might worsen before improving, especially with the presence of a reversal zone that could influence price movement. Additionally, the crypto markets are anticipating key events this month, which could lead to increased volatility for Bitcoin.QCP Capital researchers expect Bitcoin to face further correction, with Bitcoin likely to find strong support around the $54,000 level. This comes after Bitcoin ended the month down 8.6%, impacted by the Bank of Japan (BOJ) crash earlier.QCP points out Bitcoin’s historical trend of a -4.5% return in September, suggesting a potential retracement to around $55,000. Indeed, historical performance data paints a grim picture for September. According to Coinglass, Bitcoin has consistently underperformed this month, with an average return of -4.78% since 2013.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/20240903_infofx_beincrypto_Do_Hien_image_2_6db5a6aa41.png" alt="image 2"></figure>Bitcoin Monthly Returns. Source: CoinGlassMoreover, the third quarter (Q3) has historically been tough for Bitcoin and the broader crypto market, with September often bringing caution among investors. This approach is reflected in the poor performance of Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT). The recent CryptoQuant report notes fewer stablecoin inflows, signaling that investors remain wary and believe the downtrend may continue.However, popular trader Daan Crypto Trades points to the potential for a short-term pullback due to a new CME Gap near $59,000 and last week’s gap.“A new CME Gap was made this weekend sitting at ~$59,000. Last week’s gap is also still partially open but the price did close most of it during that move to $61,000,” the trader wrote.A CME gap occurs when Bitcoin’s price on the Chicago Mercantile Exchange (CME) differs between the market’s close and its reopening after a weekend or holiday. These gaps are often filled as the price tends to return to the gap’s level.&nbsp;<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/20240903_infofx_beincrypto_Do_Hien_image_3_5e04c653a3.png" alt="image 3"></figure>Bitcoin CME Gap. Source: Daan CryptoAmidst current market volatility, Bitcoin whales are actively adjusting their portfolios. For instance, one whale withdrew 1,100 BTC from Binance, while another bought 1,000 BTC, increasing their holdings.Avinash Shekhar, Co-founder of Pi42, predicts further fluctuations, especially with upcoming US economic events. He notes that a strong September employment report could temper expectations for easier monetary policy.“A strong September US employment report could temper expectations for easier monetary policy, potentially leading to further market volatility. However, there’s also a 50% chance of an upward trend,” Shekhar told BeInCrypto.With the United States Federal Reserve (Fed) poised to implement a new monetary policy in September, Bitfinex analysts warn that the agency’s decision could adversely affect bitcoin’s price.According to a recent research report from Bitfinex, the analyst team stated that BTC could face a decline of up to 20% if the Fed decides to cut interest rates lower. They pointed out that the expected rate cut could “significantly influence both bitcoin’s short-term volatility and long-term trajectory.”According to historical data, cycle peaks in percentage returns typically decrease by 60-70% each time, in addition to a reduction in average bull market corrections.Thus, they project bitcoin’s price to be around $60,000 before the rate cuts, placing the potential bottom between the low $50,000 and mid $40,000.Despite the warnings for September, Bitfinex analysts remain bullish for bitcoin, adding that the volatility presents traders with both risks and opportunities.beincrypto, cryptopotato

Bitcoin (BTC) has started the week on a down note, trading within the $58,000 range after briefly surpassing $60,000.

Bitcoin Eyes $54,000 Amid September Challenges, QCP Capital Warns

A handful of stocks could be poised for a strong September as they head toward what investors typically regard as a bullish price chart pattern.Stocks have rebounded from a sluggish start to August the month and ended with gains for all three major indexes. The By late Friday, the S&amp;P 500 had advanced about 1.9% this month, while the Dow Jones Industrial Average added 1.5% and the Nasdaq Composite rose 0.2%.Gains in the S&amp;P 500 and Nasdaq Composite on Friday followed a report on July personal consumption expenditures prices, the Federal Reserve’s preferred measure of inflation, that met Wall Street expectations and reinforced expectations that the central bank is poised to start lowering interest rates at its next policy meeting on Sept. 18.But some stocks such as Clorox may be signaling just the start of a bullish pattern.That’s because Clorox belongs to a subset of stocks that have formed, or are on the cusp of forming, a golden cross chart pattern — when their 50-day moving average crosses above their 200-day moving average. Analysts view the move as most meaningful when the stock’s 200-day moving average is sloping upward.Here’s a look at some of the stocks that appeared when CNBC Pro screened FactSet data in search of golden crosses.<h2 style="text-align:justify;">Clorox</h2>Shares of the bleach and Glad bag maker are ahead more than 20% over the past month.As a result, Clorox’s 200-day moving average is beginning to slope upward, on top of flashing a golden cross. Today’s bullish signal follows a so-called “death cross” chart pattern — the opposite of a golden cross — that came in May.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/pic_2_b816964475.png" alt="pic 2"></figure>Clorox stock’s 50-day and 200-day moving averagesInvestors largely view Clorox as a defensive play in the event the economy slows, and also laud its more than 3% dividend yield.Clorox surpassed Wall Street’s fiscal fourth-quarter earnings estimates this month, and its fiscal 2025 earnings outlook also exceeded analyst expectations.<h2 style="text-align:justify;">Teleflex</h2>Stock in the specialty medical device company are up about 19% in the past three months.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/pic_3_1ca4e462d2.png" alt="pic 3"></figure>Teleflex’s 50-day and 200-day moving averagesThe stock’s 50-day moving average of roughly $225.45 is within easy hailing distance of its $226.61 moving average for the past 200 days.Teleflex’s second-quarter earnings surpassed Wall Street estimates earlier in August, when it also increased the top end of its full-year guidance.Piper Sandler analyst Matt O’Brien upgraded Teleflex to overweight from neutral in July, forecasting that earnings pressure could ease next year at the same time as its valuation remains attractive.<h2 style="text-align:justify;">Crown Castle</h2>Crown Castle is also signaling a golden cross ahead. Shares of the real estate investment trust have pulled back roughly 3% in 2024 but have advanced more than 12% in the past three months.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/pic_4_a0429f4c3a.png" alt="pic 4"></figure>Crown Castle’s 200-day and 50-day moving averages<h2 style="text-align:justify;">Match Group</h2>Stock in the online dating platform has soared close to 24% in the past three months.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/pic_5_33406e28db.png" alt="pic 5"></figure>Match Group’s 50-day and 200-day moving averagesThe company’s second-quarter revenue surpassed Wall Street estimates in July, totaling some $864 million while analysts polled by FactSet expected $856.5 million.<h2 style="text-align:justify;">Prologis</h2>Stock in the warehouse real estate investment trust have surged more than 18% in the past three months.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/pic_6_e1244764f7.png" alt="pic 6"></figure>Prologis’ 50-day and 200-day moving averagescnbc

A handful of stocks could be poised for a strong September as they head toward what investors typically regard as a bullish price chart pattern.



These stocks could see a good September after forming a ‘golden cross’ chart pattern

Amid rising unemployment, the U.S. Federal Reserve (Fed) may implement deeper interest rate cuts than the market anticipates. According to Robert Sockin, a senior economist at Citi, the Fed is likely to carry out rate cuts totaling 125 basis points by the end of this year.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/screenshot_2024_08_31_at_093441_1725105188784_17251051893191136206733_36a35c6b3a.png" alt="screenshot-2024-08-31-at-093441-1725105188784-17251051893191136206733.png"></figure>In an interview with Yahoo Finance, Sockin stated that Citi forecasts the Fed will execute three rate cuts in 2024. Specifically, the Fed is expected to start with a 50 basis point cut, followed by another 50 basis points at the next meeting, and a final 25 basis points in December. This would bring the total cuts to 125 basis points.Citi's prediction is based on the cooling labor market, where unemployment is on the rise. Sockin expressed concern that the increasing unemployment rate is an alarming sign, which might prompt the Fed to take more aggressive action on rate cuts, especially if the central bank perceives economic growth slowing faster than anticipated.In July, the unemployment rate unexpectedly rose from 4.1% in June to 4.3%. Although jobless claims have slightly decreased in recent weeks, they remain relatively high. Last week, jobless claims fell to 231,000, down from this year’s peak of 250,000 at the end of July, according to data from the U.S. Department of Labor.Sockin emphasized that if unemployment data continues to show a less optimistic trend, the Fed may opt for even more significant rate cuts. He also noted that the Fed's decision will hinge on upcoming employment data. Should the unemployment rate continue to climb, the likelihood of the Fed taking more decisive action increases.Currently, according to the CME’s FedWatch tool, the market is pricing in a 25 basis point rate cut in September, although a 50 basis point cut by the Fed remains on the table.At the Jackson Hole symposium last week, Fed Chair Jerome Powell confirmed that the Fed is ready to lower interest rates in September. Powell emphasized, 'It is time for policy to be adjusted. The path is clear, but the timing and pace of cuts will depend on upcoming data, changes in outlook, and balancing risks.'Powell also reiterated that the Fed remains committed to its dual mandate of bringing inflation down to 2% and promoting a healthy labor market while seeking to ease monetary policy as necessary.

Amid rising unemployment, the U.S. Federal Reserve (Fed) may implement deeper interest rate cuts than the market anticipates. According to Robert Sockin, a senior economist at Citi, the Fed is likely to carry out rate cuts totaling 125 basis points by the end of this year.

The Fed may implement deeper-than-expected interest rate cuts amid rising unemployment.

Warning

Browsing through forums, InfoFinance has received numerous concerning reports from the investment community about the stock trading platform EXXO. Information from victims indicates that this platform shows serious signs of fraud and is highly alarming. Here is what you need to know to protect your interests.<h1>Warning: Is EXXO Really Reliable?</h1><figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/screenshot_1725538467916_61a8e7e359.png" alt="screenshot-1725538467916.png"><figcaption>EXXO exchange is denounced in the investor community. Link: <a href="https://www.facebook.com/groups/bocphotsanforexluadao/posts/2585505088319379/">https://www.facebook.com/groups/bocphotsanforexluadao/posts/2585505088319379/</a>&nbsp;</figcaption></figure>According to reports from several investors, EXXO is suspected of fraudulent activities. Particularly troubling is that the owner of EXXO, known as TUẤN SCAM, has a history of fraud and multi-level marketing scams. TUẤN SCAM was previously one of the leaders of IFAN – a multi-level marketing organization that defrauded thousands of billions of VND in 2017 and is now hiding abroad. With such a dark record, the fact that EXXO is run by TUẤN SCAM raises significant concerns about the platform's reliability.Victims have reported being defrauded of large sums, with a significant portion of their money unable to be withdrawn from their trading accounts. Many have lost tens of millions of VND, which has had a severe impact on their personal finances. Moreover, some investors have noted signs of market manipulation and lack of transparency in EXXO’s transactions.<h1>InfoFinance Supports Investors' Complaints</h1>To avoid similar situations in the future, we recommend that you take thorough steps to investigate any trading platform before investing. Research the platform’s history, reliability, and reviews before making an investment decision. This will help you minimize risks and protect your finances.If you or someone you know has become a victim of EXXO, please contact us immediately for support. InfoFinance is committed to assisting you in resolving the issue and protecting investors' rights.Step 1: Visit the official Info Finance website:<a href="https://infofinance.com/">&nbsp;https://infofinance.com/</a> Step 2: Click on the "Report Broker" section on the homepage. Step 3: Click on the "Send Report" button to start reporting the issues you are facing.Thank you for following the news with InfoFinance. Don't forget to follow the&nbsp;<a href="https://www.facebook.com/InfofinanceMedia/">InfoFinance fanpage</a> for the latest updates. If you need support during trading or dealing with the platform, please contact Info Finance through the following channels:Support: <a href="mailto:CS@infofx.vn">CS@infofx.vn</a>&nbsp; Hotline: 0904 096 829 / 0931 085 659

Browsing through forums, InfoFinance has received numerous concerning reports from the investment community about the stock trading platform EXXO. Information from victims indicates that this platform shows serious signs of fraud and is highly alarming. Here is what you need to know to protect your interests.

Don't Become a Victim of EXXO

In today's volatile financial market, the safety of investments is always a top concern for investors. However, some trading platforms that fail to comply with regulations and transparency standards can cause serious harm to users. Recently, the trading platform Orin Globals has become embroiled in controversy, accused of unauthorized interference with investor trades, leading to account liquidations and significant financial losses.According to reports from investors, Orin Globals has engaged in non-transparent practices, including automatically executing trades without client consent, causing substantial financial damage. This not only raises concerns about the reliability of this platform but also underscores the urgent need for protective measures and timely warnings for the investor community.In this article, InfoFinance will clarify the allegations and provide essential information to help investors identify and avoid potential risks when trading. We advise you to always proceed with caution and thoroughly research any trading platform before investing. We also offer detailed guidance on how to report fraudulent activities.<h1 style="text-align:justify;">Victim Testimony</h1>"I’m a new investor who recently opened an account on Orin Globals with ID 1969 and deposited $1,000. I learned about the platform through a friend's recommendation. After making some initial trades and earning $1,039 in profits, I decided to withdraw $300 to test the platform's safety. However, after placing the withdrawal request, I received an email stating that I needed to wait 24 hours for processing.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_d691e174b5.png" alt="1.png"></figure>After 24 hours passed, I still hadn’t received the withdrawn amount. When I contacted the platform, they informed me that I had selected the wrong withdrawal gateway, so I submitted a new withdrawal request. Shockingly, the next day, my account showed a strange trade that I hadn’t placed, wiping out my account balance, even though I had closed all my previous positions.I tried contacting the platform and their support staff, but no one responded or picked up the phone. This led me to believe that the platform is deliberately trying to seize my money. I desperately seek help and want to warn others about the activities of Orin Globals."<h1 style="text-align:justify;">Safe Investing with InfoFinance</h1>Orin Globals is currently facing accusations of fraudulent practices, exploiting the inexperience of new investors to misappropriate assets. Many have found themselves in similar situations, where the platform allegedly intervenes in client trades without transparency, resulting in account liquidations. This raises serious questions about the transparency and credibility of Orin Globals.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Screenshot_2024_09_06_at_10_18_01_38b3d68c84.png" alt="Screenshot 2024-09-06 at 10.18.01.png"></figure>InfoFinance advises investors to remain vigilant and exercise caution when choosing a trading platform. Thorough research and selecting reputable platforms are crucial first steps in safeguarding your assets. If you or any other investor has fallen victim to Orin Globals or other fraudulent platforms, contact InfoFinance immediately for timely assistance.In addition, InfoFinance provides a straightforward and transparent process for reporting and filing complaints about fraudulent activities. Here are the steps:<ol><li>Visit the official InfoFinance website:<a href="https://infofinance.com">&nbsp;https://infofinance.com</a></li><li>Select the "Report Broker" option on the homepage.</li><li>File a complaint by clicking on "Send Report" and provide detailed information about the issue you encountered.</li></ol>Thank you for following the news with InfoFinance. Stay updated through our InfoFinance fan page, and if you need assistance during your trading journey, reach out to us via:Support email: CS@infofx.vn Hotline: 0904 096 829 / 0931 085 659

In today's volatile financial market, the safety of investments is always a top concern for investors. However, some trading platforms that fail to comply with regulations and transparency standards can cause serious harm to users. Recently, the trading platform Orin Globals has become embroiled in controversy, accused of unauthorized interference with investor trades, leading to account liquidations and significant financial losses.

InfoFinance Accuses ORIN GLOBALS of Placing Orders That Wipe Out Accounts

Exchanges

While many American politicians have a reputation for making suspiciously lucrative trades, few are perceived to be as engaged in insider trading as Nancy Pelosi, the former Speaker of the House.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Did_Nancy_Pelosi_sell_Nvidia_stock_before_the_crash_1024x682_8d0b478f95.jpg" alt="Did-Nancy-Pelosi-sell-Nvidia-stock-before-the-crash-1024x682.jpg"></figure>It is, perhaps, precisely for that reason that a post claiming that the Representative sold her entire stake in Nvidia (NASDAQ: NVDA) – a stake worth millions of dollars – just ahead of the September 3 stock market crash went viral.X post claims Pelosi was forewarned of DoJ’s Nvidia subpoena Indeed, Jason A. Williams, an investor active on X made a post on Tuesday claiming that Pelosi sold her NVDA shares ahead of their crash driven first by a weak manufacturing report, and then a Department of Justice (DoJ) subpoena.In fact, Nvidia’s recent drop was one of its biggest and quickest ever as it erased more than $300 billion from its market cap within days. NVDA stock price today, at press time, stands at $105.78, and the stock is 14.39% in the red in the 5-day chart.Though the post spread like wildfire across the social media platform, the information within it is apparently incorrect as no such trade was filed with U.S. authorities, nor was it detected by Finbold’s Congressional Trading tracker.Finally, Williams’ post appears to be a copy of another tweet, made by one Mike Alfred earlier on the same day. For his part, Alfred retracted the post once he was made aware of the error.Why Nancy Pelosi could have sold Nvidia stock after all Despite all information available at press time on September 4 indicating Nancy Pelosi still holds her Nvidia stock, some apparent deficiencies in the reporting system may cause the situation to change in the coming weeks.Much like it is difficult to gauge just how large the Representative’s NVDA position is – most of the share purchases were described as worth somewhere between $1 million and $1, and $5 million – politicians have a 45-day grace period before they must report their trades.Why the public is so keen to believe in Congressional insider trades As anticlimactic as it may sound, the public is keen – to a large degree – to believe politicians are engaging in insider trading because, simply put, they make too many exceptional trades.This is well illustrated by Representative Brian Higgins’s portfolio return rate of 238.9% in 2023 and the fact that the strategy tracking Dan Meuser’s stock market activity is up 74.57% in the last 12 months.A more specific stock illustrating the point – and the concerns of many within and without political circles – is Lockheed Martin (NYSE: LMT), a weapons company whose shares were ‘relentlessly’ purchased ahead of the public release of its latest $3 billion contract with the U.S. Armed Forces.

While many American politicians have a reputation for making suspiciously lucrative trades, few are perceived to be as engaged in insider trading as Nancy Pelosi, the former Speaker of the House.

Did Nancy Pelosi sell Nvidia stock before the crash?

U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy’s healthNEW YORK — U.S. stocks tumbled Tuesday to their worst day since an early August sell-off, as a week full of updates on the economy got off to a discouragingly weak start.<figure class="image image_resized" style="width:100%;"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/imrs_6cc4c6aee7.avif" alt="imrs.avif"></figure>The S&amp;P 500 sank 2.1% to give back a chunk of the gains from a three-week winning streak that had carried it to the cusp of its all-time high . The Dow Jones Industrial Average dropped 626 points, or 1.5%, from its own record set on Friday before Monday’s Labor Day holiday. The Nasdaq composite fell 3.3% as Nvidia and other Big Tech stocks led the way lower.Treasury yields also stumbled in the bond market after a report showed U.S. manufacturing shrank again in August, sputtering under the weight of high interest rates. Manufacturing has been contracting for most of the past two years, and its performance for August was worse than economists expected.“Demand remains subdued, as companies show an unwillingness to invest in capital and inventory due to current federal monetary policy and election uncertainty,” said Timothy Fiore, chair of the Institute for Supply Management’s manufacturing business survey committee.Stocks of oil and gas companies were some of the market’s biggest losers after the price of crude oil fell roughly 4% on concerns about how much fuel a fragile global economy will burn. A barrel of benchmark U.S. oil is almost back to $70 and down for the year after climbing above $85 in April.Exxon Mobil lost 2.1%, and ConocoPhillips dropped 3.5%.Similar worries about a slowing U.S. economy and a possible recession had helped send stocks on a scary summertime swoon in early August. It briefly knocked the S&amp;P 500 nearly 10% below its record set in July, but financial markets quickly rebounded on hopes that the Federal Reserve could pull off a perfect landing for the economy .The Fed appears set to lower interest rates later this month in hopes of easing conditions for the economy and avoiding a recession after earlier jacking its main interest rate to a two-decade high to beat high inflation.Other reports due later this week could show how much help the economy needs, including updates on the number of job openings U.S. employers were advertising at the end of July and how strong U.S. services businesses grew last month. The week’s highlight will likely arrive on Friday, when a report will show how many jobs U.S. employers created during August.The jobs report has once again become the main event for the stock market each month, taking over from updates on inflation, according to analysts at Bank of America. Many traders are anticipating the Fed will deliver a full percentage point of cuts to interest rates this year, which is a “recession-sized” amount, Gonzalo Asis and other economists and strategists wrote in a BofA Global Research report.The strength of this jobs report, or lack thereof, will likely determine the size of the Fed’s upcoming cut, according to Goldman Sachs economist David Mericle. If Friday’s data shows an improvement in hiring over July’s disappointing report, it could keep the Fed on course for a traditional-sized move of a quarter of a percentage point.But if Friday’s report is weaker, it could drive the Fed to deliver an outsized cut of half a percentage point from the federal funds rate’s current range of 5.25% to 5.50%, Mericle said.While cuts to rates are generally boons to investment prices, a recession could more than wipe out that benefit by dragging down corporate profits.On Wall Street, U.S. Steel fell 6.1% in its first trading after Vice President Kamala Harris said Monday that she opposed the company’s planned sale to Japan’s Nippon Steel. The Democratic presidential nominee’s comments, which echo President Joe Biden’s position, came after Nippon Steel Corp. said last week it would spend an additional $1.3 billion to upgrade facilities in Pennsylvania and Indiana, on top of a previous $1.4 billion commitment.Nippon Steel also reiterated that it expects the transaction to close by the end of this year, despite ongoing political and labor opposition.Nvidia was the heaviest weight by far on the S&amp;P 500 after falling 9.5%. Its stock has been struggling even after the chip company topped high expectations for its latest profit report. The subdued performance could bolster criticism that Nvidia and other Big Tech stocks simply soared too high in Wall Street’s frenzy around artificial-intelligence technology.All of the stocks that have come to be known as the “Magnificent Seven,” which accounted for the vast majority of the S&amp;P 500’s return last year and early this year, fell at least 1.3%.Still, it wasn’t a complete washout on Wall Street. Nearly 30% of the stocks within the S&amp;P 500 climbed, led by those that tend to benefit the most from lower interest rates. That includes dividend-paying stocks, as well as companies whose profits are less closely tied to the ebbs and flows of the economy, such as real-estate stocks and makers of everyday staples for consumers.All told, the S&amp;P 500 fell 119.47 points to 5,528.93. The Dow dropped 626.15 to 40,936.93, and the Nasdaq composite sank 577.33 to 17,136.30.In the bond market, the yield on the 10-year Treasury fell to 3.84% from 3.91% late Friday. That’s down from 4.70% in late April, a significant move for the bond market.In stock markets abroad, indexes were lower across much of Europe and Asia.Worries were also growing about the resilience of China’s economy, as recently disclosed data showed a mixed picture . Weak earnings reports from Chinese companies, including property developer and investor New World Development Co., added to the pessimism.&nbsp;

U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy’s health

Share

Belgium’s FSMA registers rise in recovery room fraud in H1 2024

Related news

Market

Oil settles down 2%, big weekly drop after US jobs data

Market

VNG Shares Plunge Sharply, Hitting the Floor at Times

Warning

Don't Become a Victim of EXXO

Warning

InfoFinance Accuses ORIN GLOBALS of Placing Orders That Wipe Out Accounts

Market

The global gold price has dropped for four consecutive sessions, hitting its lowest level in nearly two weeks.

Exchanges

Did Nancy Pelosi sell Nvidia stock before the crash?

Exchanges

Stock market today: Wall Street tumbles on worries about the economy, and Dow drops more than 600

Latest news

Oil settles down 2%, big weekly drop after US jobs data

VNG Shares Plunge Sharply, Hitting the Floor at Times

The global gold price has dropped for four consecutive sessions, hitting its lowest level in nearly two weeks.

Investors should 'go for gold' as Fed rate cut looms, Goldman says

Bitcoin Eyes $54,000 Amid September Challenges, QCP Capital Warns

These stocks could see a good September after forming a ‘golden cross’ chart pattern

Our partners