Higher consumer interest rates continued to hurt profitability in the US banking sector, as Bank of America said on Tuesday that its Q2 profit decreased 6.8% from the same period last year. Nonetheless, as total earnings exceeded analysts’ projections, the stock surged more than 4%, surpassing the S&P 500’s 0.2% …

For most investors, Morgan Stanley’s Q2 earnings release painted a mixed image. Despite the bank’s total performance exceeding forecasts, a critical area of concern kept Wall Street’s response subdued.Investment Banking SoarsMorgan Stanley’s investment banking segment was its strong point. Due to an increase in dealmaking activity, this segment—which assists businesses …

The assassination attempt on US President and 2024 presidential candidate Donald Trump put the financial markets to a difficult test as a new week of trading began.The markets showed slight confusion at the beginning of trading on Monday, but risk appetite quickly took control of the price movement in the …

Dubai TV hosted Mohammed Hashad, Head of Research and Development at Noor Capital, and a member of the US Association of Technical Analysts, to comment on and shed light on market movements, especially the American markets, which recorded further gains following the assassination attempt on Trump and amid ongoing negotiations …

Fed Chairman Jerome Powell noted that the US economy has performed remarkably well in recent years while giving a nod of the head to recent inflation readings. The head of the Fed also reaffirmed that the Fed won’t be waiting until inflation reaches the 2% annual target.Key QuotesEconomy performed remarkably …

Gold price gains above $2,430, driven by growing speculation for Fed rate cuts in September. Softer-than-expected US inflation for June indicated that price pressures are on course to return to 2%.Investors await Fed Powell’s speech and the US Retail Sales data for June. The XAU/USD Index resumes its upside journey …

BlackRock released its financial results for 2024’s Q2 on Monday. As a fiduciary to investors and a leading provider of financial technology, the company helps millions of people build savings that serve them throughout their lives by making investing easier and more affordable. BlackRock BLK +0.67% saw a modest increase …

Mohammed Hashad, Head of Research at Noor Capital and a member of the American Society of Technical Analysts, dissected Jerome Powell’s recent testimony before the US House of Representatives. Hashad highlighted a shift in the Fed’s approach, prioritizing both inflation control and labor market health for a balanced economic recovery. …

The Dow Jones climbed by 450 points, hitting an all-time high above $40,200.00. Markets are mostly ignoring the fact that US PPI wholesale inflation has accelerated. Five-year inflation predictions eased, while US consumer mood surveys deteriorated.Even though US Producer Price Index (PPI) inflation increased more quickly than anticipated in June, …

The EUR/USD pair is trading slightly above 1.0900 in the European session on Friday, exactly at 1.0905 at the time of writing.The US economic calendar will feature producer inflation data for June. Near-term technical outlook points to overbought conditions for the pair.The EUR/USD pair gathered bullish momentum during the North …