Recent data has sparked hopes of an economic soft landing, leading to a surge in U.S. stocks. The S&P 500 has bounced back by over 6% after a significant drop earlier this month, signaling relief from recession concerns. Additionally, the Cboe Volatility Index, known as Wall Street’s “fear gauge,” has rapidly retreated from last week’s
The Australian Dollar (AUD) saw a rise against the US Dollar (USD), climbing to 0.6950. This increase was fueled by comments from Reserve Bank of Australia’s (RBA) Governor Michele Bullock, who maintained a hawkish stance. Despite mixed economic forecasts and rising inflation, the RBA’s commitment to its current policy stance has led to market expectations
The recent surge in regulatory scrutiny surrounding wealth managers’ cash sweep programs has the potential to negatively impact their credit ratings, according to Moody’s. This poses a significant threat to the high-margin business of firms such as Morgan Stanley and Wells Fargo. A ratings downgrade could result in increased costs for wealth managers, particularly at
Alan Taylor, a renowned economics professor specializing in international economics and financial crises, has been selected to join the Bank of England’s Monetary Policy Committee (MPC), as announced by Britain’s finance ministry. Taylor is currently a professor at Columbia University in New York, with a distinguished career that includes serving as a senior advisor at
In the midst of economic turmoil and recession fears, U.S. stocks managed to end the week on a high note. The S&P 500 and the Nasdaq rebounded, posting their biggest weekly percentage gains of the year. This rally comes in the wake of concerns over a potential downturn in the economy, which have now been
Silver prices are influenced by a variety of factors, ranging from geopolitical instability to the behavior of the US Dollar. Geopolitical tensions or fears of a deep recession can drive up the price of Silver as investors seek out safe-haven assets. However, it is important to note that Silver’s status as a safe haven is
In recent market trends, crude oil prices saw a struggle to surpass the $80.00 resistance zone. Although there was a temporary spike above this level, the bears quickly appeared and pushed prices lower. This was evident on the 4-hour chart of XTI/USD, where the price began a fresh decline from the $80.26 high. As a
Financial technology firm Klarna, well-known for its buy now, pay later loans, is venturing further into the realm of banking with the introduction of new products aimed at optimizing customers’ spending and saving habits. With the goal of “disrupting retail banking,” Klarna is encouraging users to consolidate their financial activities onto its platform, making it
As of July 2024, inflation in the United States has dipped below 3%, marking the first time it has fallen beneath that threshold in over three years. While certain sectors of the economy are experiencing disinflation, meaning that prices are still rising but at a slower pace, there are areas where deflation is evident. The
Warren Buffett, also known as the “Oracle of Omaha,” has raised eyebrows among his followers by owning the exact same number of shares in Apple as he does in Coca-Cola. This peculiar observation came to light after a regulatory filing revealed Berkshire Hathaway’s equity holdings at the end of the second quarter: both Apple and
Gold prices experienced a rebound after a post-CPI selloff that initially pushed the precious metal down to around $2438/oz. The unexpected nature of this selloff was surprising to market participants, especially considering that US CPI figures had come in below expectations. This led to a reduction in rate cut expectations, causing a temporary dip in
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, marking an increase of 0.36% on the day. This positive movement can be attributed to the improved Chinese July Retail Sales data, which has provided a boost to the Australian Dollar (AUD). The National Bureau of Statistics of China reported that China’s Retail