Dow Jones Industrial Average backslides on fresh economic fears
The Dow Jones tumbled 500 points on Monday as investor confidence buckles. Markets have fallen victim to new recession fears after US ISM figures miss the mark. Investors are jostling…
UBS on all time highs in equity markets – “record highs aren’t the same as market peaks”
Via UBS come some interesting points with the S&P 500 only around 1% from a record high. The note looks at the S&P 500 total returns (i.e. price gain plus…
Gold stumbles amid surge in US Treasury yields, rises over 2% monthly
Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed's cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders' bets…
China August Manufacturing PMI 49.1 (expected 49.5), Services 50.3 (expected 50.0)
August 2024 official Chinese PMIs from the National Bureau of Statistics (NBS):Composite is 50.1August Manufacturing PMI 49.1 Services 50.3 expected 50.0, prior 50.2--The Chinese economy has been showing, and continues…
GBP/USD declines as traders pare Fed large rate cut bets
The Pound Sterling (GBP) extends its two-day losing spree and posts a fresh intraday low below 1.3150 against the US Dollar (USD) in Friday’s North American session. The GBP/USD pair fails to gain ground as the…
Best Buy CEO: Consumer “resilient” but “unpredictable” heading into holiday season
BBY dailyShares of Best Buy are having their best day since 2020 after reporting strong earnings. The company raised its fiscal-year guidance and now expects to see full-year adjusted earnings…
Key data could unveil details on US economy and EMU inflation
The Greenback regained the smile on Wednesday and advanced to weekly tops vs. its main rivals as investors seek further clues regarding the potential Fed’s rate path ahead of key…
Fed discount rate minutes: Chicago and New York directors favored cuts
At times the discount minutes can offer a preview of something like a coming dissent at the FOMC meeting but it's very well telegraphed that a cut is coming. I…