US stocks showed mixed performance on Tuesday, with the Dow Jones Industrial Average reversing higher in midday trades as investors awaited a slew of Big Tech earnings and a Fed rate decision. Financial stocks, including JPMorgan Chase, Visa, American Express, and Goldman Sachs, lifted the index. The S&P 500 also …
Read More »Market Drivers – US Session, October 23
Crude oil prices declined on Monday. The WTI barrel dropped to its lowest level in a week, reaching $85.66.Gold pulled back despite the sharp slide in US yields; XAU/USD found support above $1,970. Meanwhile, Silver experienced losses and dropped below $23.00.Remarkable DevelopmentsThe Treasury market was the center of attention on …
Read More »US stocks slide ahead of key earnings
As investors processed a flurry of significant quarterly reports and readied themselves for the start of the big tech earnings season, stocks were trading lower on Tuesday. A 122 point, or 0.4%, decline in the Dow Jones Industrial Average was seen. The Nasdaq Composite was down 1% and the S&P …
Read More »Russian Banks Flock For Refuge In Chinese Payment Systems
As western companies continue to make decisions whether to suspend operations or withdraw from Russia due to its invasion of Ukraine, China has become a possible Plan B.Russian banks that include Sberbank, the country’s largest bank by assets, and Alfa Bank said that they are exploring the possibility of issuing …
Read More »Visa Testing Central Bank Digital Currencies
The leading card payments firm is in talks with central banks concerning a platform is designed to test CBDCs and Visa productsVisa joined its rival Mastercard in offering central banks a way to test retail applications for digital currencies they might issue.The card payment provider will begin piloting a program …
Read More »Visa to Accept Stablecoin in Settling Transactions
Visa is set to allow using a cryptocurrency in settling transactions through its payment network, Reuters first reported. The process is starting with the U.S. Dollar (USD) Coin, known as the stable coin, through a pilot program in cooperation with the platform Crypto dot com, with plans for expansion with …
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