Category: Markets
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Trump disagrees with a September Federal Reserve rate cut – wants rates higher for longer
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Trump is leading in the polls to win the November presidential election, and he has bad news for borrowers. He said in an interview with Bloomberg that he does not want the Federal Reserve to cut interest rates in September, as is the case now in the market. Trump wants…
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Five Below, J.B. Hunt, Interactive Brokers, Spirit Airlines By Investing.com
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After Hours Stock Carriers: five below Shares of the company (Nasdaq:) fell 9% after the company announced that Joel Anderson is stepping down as president and CEO. The retailer also reported a 5% year-to-date decline in comparable sales and lowered its second-quarter outlook. Dollar General (NYSE:) traded lower in sympathy.…
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Dollar limping, but set to fightback as Fed rate cuts now priced in: Macquarie By Investing.com
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Investing.com – The U.S. dollar has found its footing after a few weeks of struggle, but as bears sharpen their claws for another strike, some are pointing to favorable fundamentals including pricing in interest rate cuts that will provide the greenback with plenty of resistance. The dollar has “clearly suffered…
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Crude oil futures settles at $80.76
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Crude oil fell $1.15, or 1.30%, to $80.76, driven by weak growth in China, the world’s largest oil importer, which has raised concerns about demand. Another contributing factor may be the expectation that former President Trump will win the presidential election in November, as he is pro-drilling and has been…
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Adidas raises full-year guidance after better-than-expected Q2 results By Investing.com
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Adidas (OTC:) raised its full-year guidance on Tuesday after a strong performance in the second quarter of 2024. The sportswear giant reported currency-neutral revenues increased 11% year-over-year, with euro-denominated revenues up 9% to €5.822 billion, up from €5.343 billion in 2023. Excluding Yeezy sales, currency-neutral revenues saw an impressive 16%…
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President Macron accepts French governments resignation
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French President Macron accepts the resignation of the French government: The current government is scheduled to continue performing its duties as a caretaker government until a new government is formed. Through the Presidential Office, Attal renamed interim PM He called on the Republican forces (not the National Rally of Independents…
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UnitedHealth expects bigger hit to profit from tech unit hack By Reuters
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Written by Sriparna Roy, Mariam Sani and Amina Niasse (Reuters) – UnitedHealth Inc on Tuesday forecast a bigger hit to its annual profit from a February hack at its technology unit, but maintained its full-year earnings forecast. Shares of the Minnetonka, Minnesota-based company rose about 6% to $544.32 after it…
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Canadian CPI cements a Bank of Canada rate cut next week – CIBC
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The Bank of Canada is scheduled to meet on July 24, and economists are increasingly confident that interest rates will be cut. This is also reflected in interest rate derivatives, which now show a 93% chance of a rate cut. The consumer price index slowed to 2.7% from 2.9%, with…
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US stocks rise amid rate cut cheer; retail sales flat in June By Investing.com
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U.S. stocks rose on Tuesday, extending gains from the previous session amid growing optimism about interest rate cuts, as retail sales failed to grow in June. At 09:35 ET (13:35 GMT), the S&P 500 was up 235 points, or 0.6%, up 18 points, or 0.3%, and gaining 70 points, or…
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US June retail sales 0.0% versus -0.3%
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Previous month 0.1% revised to +0.3% Retail sales were $704.3 billion, compared to $704.5 billion the previous month. details: Retail Sales 0.0% vs. -0.3% Estimate Retail sales YoY +2.3% Previous cars 0.4% vs. 0.0% estimates Previous excluding autos -0.1% revised to 0.1% Control group 0.9% vs. 0.2% estimate Control group…
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US June retail sales 0.0% versus -0.3%
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Previous month 0.1% revised to +0.3% Retail sales were $704.3 billion, compared to $704.5 billion the previous month. details: Retail Sales 0.0% vs. -0.3% Estimate Retail sales YoY +2.3% Previous cars 0.4% vs. 0.0% estimates Previous excluding autos -0.1% revised to 0.1% Control group 0.9% vs. 0.2% estimate Control group…
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Italy’s Leonardo working with Thales, Airbus on new space strategy By Reuters
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ROME (Reuters) – Italian aerospace and defence group Leonardo is working with France’s Thales and Airbus on a joint strategy for the space sector, the head of the group said on Tuesday. “We are very active in stimulating large European alliances… and now we are working hard with Thales and…
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Dollar edges higher on Trump ascendancy; ECB meeting looms By Investing.com
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The U.S. dollar rose in early European trading on Tuesday, pulling away from a one-month low as traders digested the growing chance of former President Donald Trump returning to the White House as well as the possibility that the Federal Reserve could start cutting interest rates in September. At 05:20…
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US retail sales gains more attention as Japan eyes big data to intervene
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The latest yen intervention effort is an out-of-the-ordinary move as Japan appears to be trying out a new strategy. It is relying on weaker US data to push the USD/JPY pair down in particular. Previous: Bank of Japan data suggests Japan also intervened in the foreign exchange market on July…
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ServisFirst Bancshares sees robust growth in Q2 By Investing.com
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ServisFirst Bancshares, Inc. (NYSE:) reported significant growth in deposits and loans in the second quarter and has an optimistic outlook for the remainder of the year. The company’s net interest margin improved, and despite increased non-interest expenses, it maintains strong capital and liquidity positions. The earnings call revealed expectations for…
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USDJPY Technical Analysis – The price is consolidating at a key trendline
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Basic Overview The US dollar fell last week after another weak US CPI report and positive jobless claims numbers. The market has not only fully priced in a September rate cut, but has also started to price in some chances of a back-to-back rate cut in November. Overall, we have…
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Exclusive-In blow to Biden, Teamsters consider no endorsement in 2024 race By Reuters
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By Trevor Hunnicutt and Garrett Renshaw WASHINGTON (Reuters) – President Joe Biden is on the verge of failing to win a key union endorsement as leaders of the 1.3 million-member Truck Drivers Association consider not backing any candidate at all in the U.S. presidential race, two people familiar with the…
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Asia FX muted as dollar perseveres; yen on intervention watch By Investing.com
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Most Asian currencies moved in a flat-to-low range on Tuesday as speculation about a Donald Trump presidency helped lift the dollar, outweighing growing bets on interest rate cuts. The Japanese yen underperformed its peers, pressured by a stronger dollar, prompting continued warnings from authorities about intervening in the currency market.…
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Asian stocks drift higher as rate cut bets grow; China lags By Investing.com
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Most Asian stocks rose on Tuesday, tracking gains on Wall Street amid growing expectations of an interest rate cut in September, while Chinese markets lagged on concerns about a slowing economy and headwinds from U.S. politics. Regional markets took positive cues from a strong close on Wall Street, after dovish…
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Daily Broad Market Recap – July 15, 2024
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Markets began the week pricing in an assassination attempt on Trump over the weekend, but price action quickly took cues from speculation of a Fed rate cut. Which assets benefited from the momentum, and which assets saw losses today? We have a summary for you! headlines: BusinessNZ Services Index in…