Category: Markets
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Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal By Reuters
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(Reuters) – Saks Fifth Avenue parent HPC Inc said on Monday it will acquire department store chain Neiman Marcus Inc in a $2.65 billion deal, giving it stronger negotiating power with vendors and greater control over costs. The deal comes as luxury retailers face slowing demand as higher interest rates…
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Video: Where to camp out in a cyclical slowdown and what AI will do to the economy
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I spoke with Andy Bell at BNNBloomberg yesterday for a wide-ranging interview about the state of global markets and what will happen in a cyclical downturn. I also touched on the disruption caused by artificial intelligence and why central bankers are wrong about inflation. Some highlights: Canadian Dollar and Interest…
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Analysis-UK election brings few hopes or fears to cautious City of London By Reuters
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By Sinead Cruz and Hugh Jones LONDON (Reuters) – Britain’s financial sector has begun to embrace Labour’s pro-business initiatives and pledges of stability and support, but many in the City of London remain wary that it could be targeted to shore up Britain’s strained public finances in the future. Under…
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Euro leans through 1.08 as it nears the weekly high
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It’s a holiday in the US, so I’m taking all market moves today with a grain of salt, but the general theme is to sell the US dollar, perhaps in a delayed reaction to yesterday’s weak ISM services reading (dropped to a four-year low). Over the past few hours, the…
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China’s BYD opens EV factory in Thailand, first in Southeast Asia By Reuters
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Written by Chaiyut Sittbonsarng RAYONG, Thailand (Reuters) – China’s BYD opened an electric vehicle factory in Thailand on Thursday, the company’s first in Southeast Asia, a fast-growing regional market for electric vehicles where it has become the dominant player. “Thailand has a clear vision for electric vehicles and is entering…
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Video: What’s driving the strength in the US dollar and where is it headed
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Yesterday I spoke with Kitco News in a great interview with Jeremy Szafron that focused on the US Dollar and the macro outlook. Some highlights: Fed Strategy: “I think this is going to be particularly damaging for the Fed, because it’s always fighting the last war. It’s fighting inflation, and…
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China-built EVs hit with duties in biggest EU trade case yet By Reuters
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By Philip Blenkinsop and Charlotte Van Campenhout BRUSSELS (Reuters) – The European Union will impose tariffs of up to 37.6 percent on imports of Chinese-made electric cars from Friday, EU officials said, raising tensions with Beijing in Brussels’ biggest trade issue yet. But there is a four-month window during which…
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ForexLive European FX news wrap: Dollar sluggish with US holiday hanging over markets
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headlines: Markets: Japanese Yen Advances, US Dollar Lags During the Day European stocks rise; CAC 40 up 0.8% Gold rises 0.1% to $2,358.40 West Texas Intermediate crude fell 0.8% to $83.17. Bitcoin down 3.1% to $57,667 Being a holiday in the US, there wasn’t much for traders to work with…
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Top six healthcare stocks to buy and hold
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Investing.com – At the start of each quarter, Deutsche Bank presents its top investment ideas for each sector over the next 12 months. It’s time to shine a light on the healthcare sector. The first healthcare sector player Deutsche Bank is looking at with interest is Edwards LifeSciences (NYSE: ),…
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European Stocks Advance With Elections in Focus: Markets Wrap
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(Bloomberg) — European stocks rose as key elections took center stage and investors grew more optimistic about the viability of a Federal Reserve rate cut after U.S. economic data bolstered the case for easing. Most Read from Bloomberg France’s benchmark CAC 40 index rose for a second day in a…
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Dollar edges lower in holiday trade; sterling gains as polling starts By Investing.com
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The US dollar fell in early European trading on Thursday as weak economic data raised expectations of an interest rate cut by the Federal Reserve, while sterling rose as the UK headed to the polls. At 04:20 ET (08:20 GMT), the dollar index, which tracks the greenback against a basket…
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Weak U.S. Jobs Reports Extended The Dollar’s Losses On Wednesday
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The United States released a batch of economic data on Wednesday that could give markets clues to the outcome of Friday’s U.S. nonfarm payrolls report: the Challenger Report The data showed that U.S. employers announced 48,786 job cuts in June, down 23.6% from May but still 19.8% higher than June…
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What has changed after yesterday’s US data?
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Yesterday, we saw some notable declines in US jobless claims and the ISM services PMI. Initial claims remain largely stable around their cycle lows and within the 200K to 250K range that has been established since 2022. This suggests that layoffs are not accelerating and are remaining at low levels,…
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Lufthansa to consider raising stake in ITA to 90%, CEO says By Reuters
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ROME (Reuters) – German airline Lufthansa will consider increasing its stake in Italian airline ITA to 90 percent from early next year, its chief executive said in an interview published on Thursday. Carsten Spohr was speaking after his company received EU antitrust approval to buy 41% of state-owned ITA for…
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Asia FX upbeat as rate cut bets dent dollar; yen on intervention watch By Investing.com
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Most Asian currencies rose on Thursday as growing expectations of a Federal Reserve interest rate cut weighed on the dollar, while a fragile yen kept traders wary of possible government intervention. But gains in Asian currencies were capped by hawkish signals from the minutes of the Federal Reserve’s June meeting,…
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Chart Art: AUD/USD Ascending Triangle Pattern
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Take a look at this classic chart pattern on the 4-hour time frame of the AUD/USD pair! Is the pair preparing for a breakout soon? Or are we about to see more consolidation? These are the near turning points I’m watching. AUD/USD currency pair on 4-hour chart Chart by TradingView…
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ForexLive Asia-Pacific FX news wrap: Awaiting the UK election, NFP to follow on Friday
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Asian stocks rise as rate cut bets build; Japan tests record highs By Investing.com
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Asian stocks rose on Thursday, tracking gains on Wall Street overnight, as a string of weak economic readings prompted investors to ramp up bets that the Federal Reserve will cut interest rates by September. Japanese stocks have been the best performers in recent sessions, recovering most of the losses they…
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Global Markets on Alert for Biden Exit as Trump-Win Trades Mount
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(Bloomberg) — The heated debate in Washington over whether President Joe Biden will call off his re-election bid is moving to Wall Street, where traders are shifting money in and out of the dollar, Treasuries and other assets that could be affected by Donald Trump’s return to office. Most Read…
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Japanese yen fragile as USDJPY nears 162; intervention in focus By Investing.com
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The Japanese yen held near its weakest level in 38 years on Thursday, with the currency’s recent slide and low liquidity during a U.S. market holiday raising fresh speculation about government intervention. The yen, which measures the number of yen needed to buy one dollar, was down 0.1% at 161.50…