The recent surge in chip stocks has propelled the Nasdaq and S&P 500 to all-time highs as investors eagerly anticipate crucial data related to inflation, upcoming statements from Federal Reserve Chair Jerome Powell, and the commencement of the quarterly earnings season. Notable companies like Nvidia, Super Micro Computer, and Intel witnessed significant gains in their
Economy
Recent survey data from the British Chambers of Commerce has revealed that fewer British firms are planning to raise their prices in the near future. The survey, which included responses from nearly 5,000 companies, showed a decrease in the percentage of businesses expecting to increase prices over the next three months. This trend is seen
China’s leading electric vehicle manufacturer, BYD, made a significant move by acquiring a 20% stake in its distributor, Rever Automotive, in Thailand. This strategic partnership aims to strengthen BYD’s position in Thailand, which is considered its largest market outside of China. The decision comes as BYD continues to expand its global presence in the electric
The upcoming U.S. presidential election has had a significant impact on bond investors as they recalibrate their strategies in anticipation of a potential outcome. One of the key factors affecting market sentiment is the recent performance of President Joe Biden against his Republican rival Donald Trump during the first presidential debate. This has led to
Japan’s economy is facing a challenging period due to the acceleration of wholesale prices in June. This can be attributed to various factors such as a weak yen, higher commodity import bills, and increasing transportation costs. These rising prices are putting pressure on the trade-reliant economy and leading to cost-push inflation. According to a Reuters
The recent government data released on Japanese household spending in May revealed an unexpected decrease of 1.8% from the previous year. This decline was significantly lower than the market forecast, indicating a concerning trend in consumer behavior. The primary factor attributed to this downturn was the rise in food prices, which exerted pressure on overall
In the world of hedge funds, the first half of 2024 has been a mixed bag. While some funds like Caxton Associates and Brevan Howard have struggled to maintain gains, others have seen significant success. Caxton Associates, led by Andrew Law, finished last month flat after a yearly performance that was up 4%. On the
Following weaker-than-expected U.S. economic data, the dollar experienced a significant drop, causing both the pound and the euro to gain traction against the greenback. Sterling saw a gain of 0.46% and reached a three-week high, while the euro also rose to $1.0801, marking a three-week top for the currency. This shift in currency values can
Recent reports indicate that first-time applications for U.S. unemployment benefits have increased. The number of people on jobless rolls also rose to a 2-1/2 year high towards the end of June, suggesting that the labor market is experiencing a gradual cooling. This ebbing labor market momentum, coupled with decreasing inflation pressures, is likely to prompt
Amid a holiday-shortened trading week, U.S. stock futures are slightly lower as investors gear up for crucial labor market data. The Dow, S&P 500, and Nasdaq 100 futures all show a decline following an upbeat session on Wall Street. Notable tech companies like Tesla and Apple played a part in boosting the Nasdaq Composite. The