The Nasdaq and the S&P 500 reached all-time highs on Friday following a consumer spending report that fell in line with expectations. The report indicated that U.S. monthly inflation remained stable in May, a positive outcome after concerns arose due to surges in prices earlier in the year. This data helped to boost hopes for
The global equity market saw a surge in investments with the biggest weekly inflows in more than three months, as investors anticipated moderating U.S. inflation levels and potential interest rate cuts by the Federal Reserve. This surge is a clear indication of positive market sentiment and expectations for future market conditions. Strong Demand for U.S.
The S&P 500 futures market showed signs of growth on Friday, reflecting optimism among traders as they eagerly awaited crucial inflation data. The first half of the year witnessed remarkable gains, with the Nasdaq leading the charge with a significant 6% rise. In comparison, the S&P 500 and Dow experienced more modest increases of over
The GBP/USD pair has experienced a decline below the key support zone of 1.2670, signaling a bearish trend for the British Pound. On the hourly chart, a bearish trend line is forming with resistance at 1.2640. The pair started its downward move from the 1.2700 resistance level and broke below the 50-hour simple moving average.
The eurozone has been struggling with economic performance over the past few years, but the recent quarterly GDP growth of 0.3% is a positive sign that the bloc is not in a technical recession. However, there are concerns that if a recession does occur later this year, it would likely be minimal and impact specific
One of the critical aspects highlighted by the CEO of Honor, George Zhao, is the importance of protecting user data in the development and implementation of artificial intelligence (AI) tools in consumer electronics. Zhao emphasized that without proper data security and user privacy protection, the transformative power of AI becomes irrelevant. This assertion underscores the
The US Dollar (USD) has seen some positive movements in recent days, with fresh buyers entering the market and pushing the currency to a two-month high. This surge comes ahead of the release of the Personal Consumption Expenditure (PCE) Price Index, which is expected to have a significant impact on the USD’s performance in the
The recent surge in Chewy shares can be attributed to the actions of Roaring Kitty, also known as Keith Gill. This social media influencer has a history of influencing meme stocks such as GameStop by posting cryptic images and memes online. A seemingly innocuous picture of a cartoon dog on his X feed drove Chewy
The US Personal Income and Outlays report plays a significant role in determining the prospects of a September Fed rate cut. Analysts are predicting that the Core PCE Price Index will see a slight decrease, dropping from 2.8% to 2.6% year-on-year in April. If the actual figures come in lower than expected, it could fuel
In a recent court decision, French drugmaker Servier suffered a major blow in its ongoing legal battle against the European Union. The European Commission had imposed a hefty fine of 331 million euros on Servier back in 2014 for engaging in questionable deals with competitors to delay the entry of generic versions of its popular
In recent years, European Union banks have increasingly turned to Additional Tier 1 (AT1) bonds to bolster their capital reserves in the aftermath of the global financial crisis. These high-risk debt instruments, also known as contingent convertibles or CoCos, are designed to convert into equity or be written off if a bank’s capital falls below
The USD/JPY pair has recently surged to 160.34, levels not seen since 1986, as market participants increasingly anticipate potential interventions from Japanese authorities. Despite verbal assurances from Finance Minister Shunichi Suzuki, the Japanese government has yet to take concrete financial measures, leaving the yen exposed and vulnerable. One of the significant factors contributing to the