Markets

China’s yuan is expanding its foothold in South America as Bolivia reduces its reliance on the dollar. The country’s yuan transactions from May to July accounted for about 10% of its foreign trade in that span. Bolivia has been hit by dollar shortages recently as lower natural gas production hit exports. Loading Something is loading.… Continue reading China’s yuan expands its growing foothold in South America as Bolivia reduces reliance on US dollar

Bitcoin could hit a new record high now that Blackrock’s Larry Fink is a believer, Mike Novogratz said.  “The most important thing that happened this year in bitcoin is Larry Fink,” he said on Bloomberg TV. Bitcoin’s current all-time high is $69,000 set in 2021, and it’s now hovering below $30,000. Loading Something is loading.… Continue reading Bitcoin could hit a new high now that BlackRock’s Larry Fink got ‘orange-pilled’ and became a true believer, billionaire Mike Novogratz says

One of the most accurate recession predictors is only half right, market veteran Ed Yardeni told Insider. The yield curve has been inverted for more than a year, but it doesn’t mean a recession is ahead. “But we certainly had a recession in housing. We certainly had a recession in retailing,” he explained. Loading Something… Continue reading One of the most accurate recession predictors is only half right. Here’s what the yield curve is actually saying, according to a market veteran

Earnings are down less than feared in Q2, but the beats haven’t stopped negative forward revisions. Falling inflation may prevent companies from exercising pricing power. Here are 38 stocks that will revise earnings estimates higher, according to Morgan Stanley. US stocks continue to steadily rise as earnings exceed low expectations once again. Corporate profits are… Continue reading Morgan Stanley: Buy these 38 stocks that will increase their profits during another better-than-feared earnings season

The secondary market for luxury watches has sunk to its lowest level in over two years.  The WatchCharts market index and has slumped 32% from an all-time high in March last year.  Elevated interest rates and heightened economic uncertainties are seen as sapping demand for luxury timepieces. Loading Something is loading. Thanks for signing up!… Continue reading The great Rolex recession is here: How the Fed crushed the luxury watch boom

Bitcoin mining machines are pouring into Russia amid its war in Ukraine, per CoinDesk. As the US market becomes saturated, mining-rig makers have expanded into Russia. According to the report, more mining machines are heading to Russia than anywhere else in the world. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Russia’s bitcoin-mining industry is booming through war and sanctions

A first-time homebuyer needs to earn 13% more money to afford a starter home, per a Redfin analysis. The average starter home cost $243,000 in June, sending the income needed to afford it to $64,500 per year. “The most affordable homes for sale are no longer affordable to people with lower budgets” due to rising… Continue reading Soaring home prices mean first-time buyers need to be making 13% more money than a year ago to afford a ‘starter’ home

The US dollar has slipped against other currencies this year. Its losing streak could carry on with the Fed taking a “data-dependent approach” to interest rates. The greenback would become less attractive to foreign investors if the central bank stopped tightening. Loading Something is loading. Thanks for signing up! Access your favorite topics in a… Continue reading The Fed’s newfound focus on data is bad news for the sliding dollar