US stocks experienced a bear-market rally in July but the recent upswing is likely to fade, Bank of America said Friday. The stock market rally found ‘oxygen’ from the fall in the 10-year Treasury yield prompted by ‘recession shock.’ BofA said a Fed pivot from its rate-hike campaign will emerge but the central bank isn’t… Continue reading July’s stock rebound found ‘oxygen’ from falling Treasury yields – but the bear-market rally looks close to an end, says BofA
Dow soars 332 points after early losses as traders digest a 2nd straight negative GDP print
Stocks rallied Thursday following a negative second-quarter GDP print that showed a 0.9% contraction. Policymakers pointed to a strengthening labor market as reason to believe the economy is not currently in a recession. Housing market demand continues to tumble even as mortgage rates dip, according to Freddie Mac. Loading Something is loading. US stocks rallied… Continue reading Dow soars 332 points after early losses as traders digest a 2nd straight negative GDP print
The US dollar could fall from 20-year highs as the Bank of England sets sight on its largest rate hike in nearly 3 decades, says analyst
The US dollar will drop against the pound if the Bank of England issues a hefty rate hike in August, Forex.com said Thursday. The BOE could raise its key rate by 50 basis points, marking the largest increase since 1995. The pound may then rise to $1.25 against the greenback, a level it hasn’t traded… Continue reading The US dollar could fall from 20-year highs as the Bank of England sets sight on its largest rate hike in nearly 3 decades, says analyst
Janet Yellen says the US economy is not in a recession despite a 2nd straight negative GDP print because the job market is strong
Treasury Secretary Janet Yellen said the US economy is not in a recession despite two straight declines in quarterly GDP growth.She pointed to the strong labor market as reason to believe that the US economy is not experiencing a broad economic slowdown.The US economy is officially not in a recession until the National Bureau of… Continue reading Janet Yellen says the US economy is not in a recession despite a 2nd straight negative GDP print because the job market is strong
With great passion, setting sail together for a green future
GEM Global Depositary Receipts (GDR) successfully listed on the Swiss Exchange (SIX) , /PRNewswire/ — At 21:00 Beijing time on July 28 (15:00 Zurich local time), the Global Depositary Receipt (GDR) of GEM was officially listed on the SIX (Swiss Stock Exchange). After the China Securities Regulatory Commission (CSRC) revised the “China-Europe Access” rules and… Continue reading With great passion, setting sail together for a green future
A 2nd straight quarter of GDP contraction shows the Fed is on the back foot in its fight against inflation, says Mohamed El-Erian
New data showing a second straight GDP decline is a sign the Federal Reserve is behind in its battle against inflation, Mohamed El-Erian says. El-Erian thinks the Fed may have waited too long to raise rates, making a soft economic landing unlikely. The famed economist has warned for months that the central bank tightened policy… Continue reading A 2nd straight quarter of GDP contraction shows the Fed is on the back foot in its fight against inflation, says Mohamed El-Erian
Nasdaq soars 4% on combination of mega-cap tech earnings and Fed’s 75-basis-point rate hike comments
US stocks soared on Wednesday after the Federal Reserve raised interest rates by 75 basis points.Stocks extended their gains after Fed Chairman Jerome Powell hinted at a dovish pause in rate hikes.Stocks were also boosted by better-than-feared earnings results from mega-cap tech companies like Alphabet and Microsoft. Loading Something is loading. US stocks soared on… Continue reading Nasdaq soars 4% on combination of mega-cap tech earnings and Fed’s 75-basis-point rate hike comments
Elizabeth Warren warns that the US will suffer a devastating recession if the Fed doesn’t ease rate hikes
The Fed’s aggressive rate-hike cycle risks pushing the US economy into a recession, Senator Elizabeth Warren said Wednesday. Before the Fed’s latest increase, she told CNBC the fast pace of tightening won’t control some of the factors contributing to elevated inflation. The Federal Open Market Committee on Wednesday raised rates by another 75 basis points,… Continue reading Elizabeth Warren warns that the US will suffer a devastating recession if the Fed doesn’t ease rate hikes
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