US equities had a phenomenal first half of the year, with the S&P up over 17%, thanks to a strong US economy, declining inflation, and a boom in mega-cap growth businesses propelled by artificial intelligence. Investors are watching to see if the second-quarter earnings season will serve as the next …
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Microsoft Corp (MSFT.O) is in talks to invest $10 billion into OpenAI, the owner of ChatGPT, which will value the San Francisco-based firm at $29 billion, Semafor reported on Monday, citing people familiar with the matter. The funding includes other venture firms and deal documents were sent to prospective investors …
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The price of gold holds its latest gains above $1,816 amidst thin liquidity conditions. The worse-than-expected Initial Jobless Claims data that failed to support the US dollar on Thursday. The US Department of Labour said that Initial Jobless Claims for the week ended on December 24 jumped to 225K, and …
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Thursday’s GDP update will help provide a correct answer to whether US economy has fallen into recession. It is becoming more difficult to figure out what is really going on in the globe’s largest economy. Firmer Final US GDP in the second quarter could offer US dollar rebound as Fed …
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The second estimate of Q2 GDP showed the US economy contracted at a slower-than-expected rate of 0.6%. Upward revisions to underlying demand and a first read from the income side weakens the argument that the economy is currently in recession. The US economy contracted at a 0.6% annualized rate in …
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It was a challenging quarter for Coinbase from an operational perspective. The company said it had 9 million monthly transacting users during the second quarter, down from 9.2 million in the first quarter but more than the estimated 8.7 million. Macroeconomic and cryptocurrency credit resulted in lower trading volume during …
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The United States enters technical recession as economy shrank 0.9% in Q2 following two successive quarters of negative GDP growth. President Biden reacted to Thursday’s GDP report, saying it is “no surprise that the economy is slowing down” amid inflation, despite saying earlier this week that the US would not …
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According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to contract by 1.2% in the second quarter, up from the July 19 forecast of -1.6%. The US Dollar Index stays flat on the day near 107.20 after this report.After recent releases from the US …
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Microsoft shares fell 1% in extended trading on Tuesday after the software maker reported fiscal fourth-quarter results that failed to reach Wall Street consensus.Microsoft’s revenue and income fell short, as did the company’s revenue from Azure and other cloud services. Changing exchange rates and challenges in advertising and the PC …
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The AUD/USD advances towards solid resistance around the 0.6970-90 area. Weak US economic activity and manufacturing data reported on Monday increase the chances of a US recession.The AUD/USD climbs during the North American session but faces solid resistance around the 50-day EMA around 0.6971, amidst an upbeat market mood, with …
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