The largest US bank stocks have been crushing the overall market, but investor disappointment with the results put a stop to the rally. Following its net interest income miss, Wells Fargo is expected to see its largest earnings-day decline in over three years. Even though Citigroup’s market revenue exceeded forecasts, …
Read More »Tesla Pushes Back Robotaxi Launch to October for Design Refinements
Tesla has postponed the launch of its highly anticipated robotaxi by approximately two months to October, according to a Bloomberg News report. This delay stems from a directive for the design team to rework certain elements of the vehicle. Following the news, Tesla’s shares experienced an 8% decline, closing at …
Read More »S&P 500 shares climb to a fresh record
The S&P 500 climbed to a fresh record on Wednesday, breaking above 5,600 for the first time due to a sharp rise in semiconductor stocks. The broad market index jumped 1.02%, closing at 5,633.91 and notching a seventh straight day of gains. The Nasdaq Composite advanced 1.18%, also hitting an …
Read More »How Could France’s Debts Trigger a Serious Eurozone Crisis?
The Eurozone debt crisis, which began in 2009, was triggered by high levels of public debt, particularly in countries grouped under the acronym “PIIGS” (Portugal, Ireland, Italy, Greece, and Spain). The crisis followed the global financial downturn that started in 2008. When the US housing bubble burst, banks worldwide faced …
Read More »Reading Between the Lines in Jerome Powell’s Recent Testimony
Federal Reserve Chair Jerome Powell’s recent testimony before the House Financial Services Committee and the Senate Banking Committee was closely watched by investors, economists, and policymakers. As the U.S. economy faces a delicate balancing act between inflation, employment, and financial stability, Powell’s remarks offer critical insights. In this comprehensive article, …
Read More »China’s CPI rises for fifth consecutive month
China’s consumer inflation remained tepid last month, with factory-gate prices continuing to fall, indicating a lackluster demand despite Beijing’s efforts to boost consumption.The National Bureau of Statistics reported that the consumer-price index rose for a fifth consecutive month in June, slightly up 0.2% from a year earlier. Factory-gate prices remained …
Read More »Asian Stocks Muted Amid Mixed Inflation Data and Fed Uncertainty
Asian stock markets remained largely rangebound on Wednesday, as investors digested mixed inflation figures from China and Japan, while closely monitoring Federal Reserve Chair Jerome Powell’s testimony for clues on potential interest rate cuts. Key Takeaways: Mixed Inflation Data: Japanese producer price index (PPI) inflation rose slightly in June, but …
Read More »Powell comments on job creation status in US economy
Fed Chair Jerome Powell is speaking Tuesday before the Senate Banking Committee as part of his semiannual address to Congress on monetary policy.With the Fed still on hold regarding interest rates, Powell’s remarks are closely monitored for hints about what it will take to start easing. At the Fed’s June …
Read More »U.S. Stock Futures Rise as Rate Cut Anticipation Grows Ahead of Powell Testimony
U.S. stock index futures climbed on Tuesday as market optimism regarding a potential interest rate cut in September continued to build, ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress. In early morning trading, Dow Jones Futures rose, S&P 500 Futures gained, and Nasdaq 100 Futures advanced. The S&P …
Read More »Asian Stocks Mostly Climb on US Rate Cut Bets
Asian stock markets experienced a mixed day on Tuesday, with most indices rising on growing expectations of lower U.S. interest rates. Japan’s Nikkei 225 index stole the spotlight, surging to a record high fueled by tech stock gains and a weakening yen. However, Chinese markets lagged behind due to persistent …
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