Stocks News

Crypto regulatory chatter failed to spook investors this week. However, a lack of progress toward a crypto-Spot market remained a headwind.

SEC challenges Ripple in an evolving lawsuit; market eyes ruling’s potential impact on XRP.

Initial jobless claims fell to 216,000, a 13,000 drop; Q2 nonfarm productivity rose by 3.5%, signaling economic progress.

The Eurozone services sector, led by declines in France and Germany, contracted for the first time since December 2022.

The sentix economic index for the Eurozone indicates a deepening recession, heavily influenced by Germany.

The Jolts and Non-Farm Payrolls reports suggest a labor market becoming increasingly balanced, aligning with the Fed’s objectives.

August saw 187K nonfarm payrolls, surpassing Dow’s 170K estimate; unemployment hit a 3.8% peak since February 2022, with earnings below projections.

In July, the PCE price index climbed by 0.2%, driven by service sector gains. Personal income grew by 0.2%, pushing consumer spending up by 0.8%.

ADP reported only 177,000 jobs in August, contrasting July’s 371,000; “Trajectory is shifting towards sustainable growth,” says ADP’s chief economist.

June 2023 shows a fourth month of metro price hikes, with Chicago, Cleveland, and NY leading and a 3.0% U.S. yearly appreciation from Q2 2022-23.

Lagarde vows high EU rates against inflation; Powell urges patience in assessment, stressing measured response.

BRICS expansion faces internal rifts and diverse goals, making its ambitious “de-dollarization” aspirations seem far from immediate reality.

Powell emphasized US resilience, suggesting higher rates are possible; Harker and Mester hinted at 2023 monetary policy adjustments amid inflation.

Initial claims fell to 230,000, the 4-week average rose, durable goods orders decreased by 5.2%, with transportation diving 14.3%.

Nvidia’s Q2 earnings excel with data center growth at 171% annually, anticipating a bullish Q3 revenue of $16 billion.

BRICS’ growth challenges US dollar’s dominance, potentially boosting gold demand, and reshaping global financial dynamics.

July 2023 U.S. retail sales grew 0.7%, outpacing the 0.4% forecast, underscoring a bullish market sentiment.

It was a busy week for the crypto market. While US inflation figures drew interest, the SEC cases against Ripple and Coinbase and ETF news also influenced.

U.S. July’s PPI rose 0.3% after June’s flat performance, surpassing the 0.2% estimate.

Shelter drove 90% of inflation, while excluding food and energy, rates grew 0.2%; the all-items index rose 3.2% annually, signaling bullish trends.