Financial News
- James Hyerczyk
S&P Case-Shiller Index hits record high in June 2024. New York leads with 9% annual gain. Home prices outpace inflation, rising 1,100% since 1974. Affordability trends vary by region.
- Vladimir Zernov
Perceptions of broader business conditions remain in the negative territory.
- James Hyerczyk
Durable goods orders jump 9.9% in July, far exceeding expectations; transportation drives the surge, core goods dip 0.1%, while stocks rise and Treasury yields edge lower.
- Bob Mason
The crypto market got a much-needed boost on Friday, with Fed Chair Powell greenlighting a rate cut. SEC vs. crypto case-related news also drew interest.
- Vladimir Zernov
Powell noted that his confidence had grown that inflation was moving towards the 2% target.
- James Hyerczyk
Powell expected to acknowledge progress in cooling inflation while maintaining data-dependent stance on future policy actions
- Vladimir Zernov
Natural gas retreats as traders react to the bearish EIA report.
- Vladimir Zernov
The report showed that U.S. business activity growth remained robust in August.
- James Hyerczyk
U.S. jobless claims rise to 232K, indicating potential labor market cooling. Insured unemployment holds steady, but continued claims hit 2021 highs.
- Bob Mason
Germany services PMI data could support investor bets on a September ECB rate cut. Eurozone data will also need to signal a weakening economy, however.
- Vladimir Zernov
Fed looks ready to start the rate cut cycle at the next meeting.
- Ibrahim Ajibade
BlackRock has surpassed Grayscale in Bitcoin holdings. This shift marks a significant turning point in the Bitcoin ETF sector.
- Bob Mason
Eurozone wage growth and inflation data loom as key factors influencing ECB’s rate decision amid mixed producer price signals
- Bob Mason
It is another pivotal week ahead for the global markets, with the Jackson Hole Symposium the main event.
- Ibrahim Ajibade
Circle to Launch USDC Payments on Apple Devices Circle CEO Jeremy Allaire recently hinted at a transformative development in digital payments. Following Apple’s decision to open the iPhone’s NFC payment functionality to third-party developers, Allaire hinted that tap-to-pay payments using Circle’s USDC stablecoin are “incoming soon.” This development has the
- Bob Mason
Easing fears of a US economic recession and expectations of multiple 2024 Fed rate cuts fueled crypto demand.
- Vladimir Zernov
Year-ahead inflation expectations remained unchanged at 2.9%.
- James Hyerczyk
U.S. residential construction slows in July 2024 with permits and starts declining. Rising rates and uncertainty suggest bearish housing market trends.
- Bob Mason
UK retail sales recover in July, which could test investor expectations of a Q4 Bank of England rate cut after recent wage growth and inflation numbers.
- Vladimir Zernov
Natural gas prices test multi-week highs as traders react to the bullish report.