PortfolioPilot, an automated financial advisor, is making significant waves in the wealth management industry by accumulating $20 billion in assets within a short span of time. This AI-driven service, developed by Global Predictions, has witnessed a meteoric rise in its user base, attracting over 22,000 users in just two years of its launch. The recent
Singapore’s stock market has faced challenges such as thin trading volumes and more delistings than listings. This has caused some to label the market as “boring” and “unexciting.” The turnover velocity at the SGX has also been significantly lower compared to other exchanges in the region. To address these issues, the Monetary Authority of Singapore
The recent announcement of Google’s non-exclusive license agreement with Character.AI has sparked discussions and debates within the tech industry. This deal signifies a strategic move by Alphabet to acquire the chatbot maker’s large language model technology, further strengthening its AI capabilities. Similar to previous deals struck by Microsoft and Amazon, Google’s agreement with Character.AI is
The global financial markets were hit hard by recession fears, with major share indices in Asia plunging deep into the red. The concerns stem from the possibility of the United States slipping into a recession, triggering a massive wave of risk aversion among investors. This has led to a growing belief that interest rates will
The US Dollar (USD) has faced a significant setback following the release of July’s disappointing jobs report. This has sparked increased expectations for a rate cut by the Federal Reserve in September. The US Federal Reserve continues to monitor economic data closely and has signaled readiness to respond to any signs of weakness in the
The article discusses how central banks around the world are cutting interest rates, with the Bank of England having already done so and the Federal Reserve preparing for a cut in September. There is a sense of anticipation among investors, with global stocks, cryptocurrencies, and bonds rallying in the hopes of central banks lowering interest
The gold price has been steadily increasing, surpassing the $2,440 resistance level. A key bullish trend line has formed with support near $2,440, indicating a positive uptrend. The price found support near $2,320 and has seen a strong uptrend above $2,400. However, there is a risk of a downside break if the price falls below
In the past 24 hours, the cryptocurrency market experienced a 0.75% loss, bringing the total market capitalization to $2.29 trillion. This slight decline follows a trend of synchronised selling that has been prevalent in the market recently. The sentiment index currently stands at 57, indicating greed among investors. This shift towards greed in the market
The recent selloff that rocked equity markets worldwide is leaving investors in a state of uncertainty. The S&P 500 and Nasdaq Composite have both experienced significant drops, with the Nasdaq recording its first 10% correction since 2022. The sharp decline in both Europe and Asia, especially Japan’s Nikkei index, has raised concerns among market participants.
The Bank of Japan’s upcoming release of its Summary of Opinions on Thursday, August 8, is expected to provide valuable insights into the July monetary policy decision. This summary will shed light on the Board members’ views on the interest rate trajectory, potentially impacting investor sentiment towards the Japanese Yen. A positive outlook on multiple
Warren Buffett’s Berkshire Hathaway has hit a new milestone with a cash pile that reached a record high of $276.9 billion in the last quarter. This significant increase in cash reserves from the previous record of $189 billion set in the first quarter of 2024 has sparked interest and speculation within the financial world. Buffett’s
Richmond Federal Reserve President Thomas Barkin expressed his views on the unexpected weak U.S. jobs data, stating that he is not inclined to alter his monetary policy outlook at this time. Despite acknowledging the softer turn in July hiring data, Barkin emphasized that he does not preemptively judge upcoming meetings. He emphasized the need to