Financial News

The report showed that consumers’ assessments of the current labor market situation continued to weaken.

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.

Perceptions of broader business conditions remain in the negative territory.

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.

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.

Powell noted that his confidence had grown that inflation was moving towards the 2% target.

Powell expected to acknowledge progress in cooling inflation while maintaining data-dependent stance on future policy actions

Natural gas retreats as traders react to the bearish EIA report.

The report showed that U.S. business activity growth remained robust in August.

U.S. jobless claims rise to 232K, indicating potential labor market cooling. Insured unemployment holds steady, but continued claims hit 2021 highs.

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.

Fed looks ready to start the rate cut cycle at the next meeting.

BlackRock has surpassed Grayscale in Bitcoin holdings. This shift marks a significant turning point in the Bitcoin ETF sector.

Eurozone wage growth and inflation data loom as key factors influencing ECB’s rate decision amid mixed producer price signals

It is another pivotal week ahead for the global markets, with the Jackson Hole Symposium the main event.

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

Easing fears of a US economic recession and expectations of multiple 2024 Fed rate cuts fueled crypto demand.

Year-ahead inflation expectations remained unchanged at 2.9%.

U.S. residential construction slows in July 2024 with permits and starts declining. Rising rates and uncertainty suggest bearish housing market trends.

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.