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60% Expect June Inflation Data Will Drop, But Most See Costs Still Rising
2024 Jul 10, 10:35am | 558Economists and experts expect June inflation to come in lower than past months when the Consumer Price Index is reported on Thursday. While inflation is dropping in recent reports, consumers continue to see higher costs than in past months and years. What Happened: Wall Street economists expect...
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Bitcoin Spot ETFs Keep Buying The Dip This Week: Here's Why
2024 Jul 10, 10:05am | 554Bitcoin (CRYPTO: BTC) spot ETFs recorded $216 million in net inflows on Tuesday after an already strong start to the week. What Happened: SoSoValue data shows BlackRock‘s iShares Bitcoin Trust (NASDAQ:IBIT) leading the charge with $121.03 million in inflows, followed by Fidelity‘s...
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Nasdaq, S&P 500 Futures Rise Amid Tech Buoyancy, Bitcoin Gains 2%: Analyst Warns Of Elevated Valuations And Potential Election Volatility
2024 Jul 10, 7:40am | 1409The market’s bullish bias will likely be put to the test on Wednesday as some key market-moving catalysts due this week could pose a threat to the upward momentum. Federal Reserve Chair Jerome Powell is scheduled to testify before the House Financial Committee and is widely expected to be in...
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June CPI Report On Traders' Radar: Analysts Predict S&P 500 Move For Thursday Under Different Inflation Scenarios (CORRECTED)
2024 Jul 10, 4:09am | 804Editor’s note: The story has been updated to reflect that the CPI data is due on Thursday. The all-important consumer price inflation report for June – one of the important reports due before the Federal Reserve’s July 30-31 monetary policy committee meeting – is expected on...
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Mohamed El-Erian Says Jerome Powell's 'Less Reassuring' Inflation Remarks Stem From Audience Shift
2024 Jul 09, 10:22pm | 742The testimony of Federal Reserve Chair Jerome Powell to the Senate Banking Committee on Tuesday was less optimistic about inflation than his previous statements to central bankers, according to Mohamed El-Erian, the Chief Economic Advisor at Allianz. What Happened: El-Erian took to social media...
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June Inflation Report In Focus: Could It Seal The Deal For September Rate Cut?
2024 Jul 09, 2:27pm | 547Following the latest weaker-than-expected inflation reports, investors are eagerly awaiting June Consumer Price Index (CPI) report this Thursday to strengthen their expectations of interest rate cuts. While Federal Reserve Chair Jerome Powell reiterated Tuesday it won’t be appropriate to cut...
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Stock Markets Keep Hitting Record Highs: What's Driving The Action?
2024 Jul 09, 2:21pm | 455Stock markets continue to reach record highs lately, driven in great part by advances in the financial, consumer discretionary and utilities sectors. The Dow Jones Industrial Average (DJI) hit an all-time market-close high of 39,908 points on May 15. Since then, it has fallen to 38,112 points on...
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S&P 500 Hits Record Highs, Eyes 6th Straight Gain As Powell Keeps Bears At Bay; Tesla Targets 10th Consecutive Win, Bank Stocks Rally: What's Driving Markets Tuesday?
2024 Jul 09, 1:47pm | 963The S&P 500 index climbed to new all-time highs, rising 0.3% during Tuesday’s session, aiming for a potential sixth consecutive positive close and remaining resilient after Fed Chair Jerome Powell‘s testimony before the Senate Banking Committee. Powell used both hawkish tones –...
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Trump's Deregulation Agenda: Oil & Gas, Defense, And Finance Stocks May Benefit From Loose Rules, Goldman Sachs Says
2024 Jul 09, 11:49am | 858A 2024 election victory for ex-President Donald Trump could unleash a new wave of deregulation, according to Goldman Sachs. This would help companies in industries subject to strict rules and regulatory oversight, the firm’s analysts, Ronnie Walker and Alec Phillips, explained in a research...
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Powell Says Labor Market 'Strong, Not Overheated': Fed Chair Awaits 'Right Moment' To Cut Interest Rates
2024 Jul 09, 11:40am | 930Federal Reserve Chairman Jerome Powell reiterated Tuesday that a policy rate cut would not be “appropriate” until the Fed gains greater confidence that inflation is heading sustainably toward 2%, he said during his semiannual testimony before the Senate Banking Committee. Reducing...
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US Federal Reserve Considers Rule Change To Save Largest Banks Billions In Capital: Report
2024 Jul 09, 11:06am | 551The U.S. Federal Reserve is considering revising a key rule that could save the nation’s largest banks billions in capital. This potential change addresses the “GSIB surcharge,” an additional capital layer imposed on the U.S. global systemically important banks (GSIBs) to enhance...
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EUR/USD Holds Firm Amid Weakening Dollar And Rate Cut Expectations
2024 Jul 09, 9:32am | 514By RoboForex Analytical Department The EUR/USD pair is maintaining its position close to a multi-week high of 1.0829, benefitting from the weakening US dollar following a disappointing June US employment market report. Market anticipation is now building ahead of an upcoming speech by Federal...
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US Stocks Set For Positive Start As Jerome Powell Heads To Capitol Hill: Analyst Flags This As 'Turbo Boost' That Market Is Waiting For
2024 Jul 09, 7:30am | 1232The equity market appears to be on track to build on gains, with the major index futures firmly in the green early Tuesday. Traders apparently are discounting a dovish message from Federal Reserve Chairman Jerome Powell on the first day of the semi-annual monetary policy testimony before Congress....
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Obama-Era Economic Adviser Calls For Economic Policy To Be 'Less Restrictive,' Warns Of 'Tightening Financial Conditions' If Fed Doesn't Cut Rates In September
2024 Jul 08, 10:57pm | 659Jason Furman, a prominent figure in former President Barack Obama‘s administration, suggested that the current economic conditions may warrant a less restrictive policy, in a recent social media post. What Happened: In a recent post on X, Furman, who is currently a Professor of Practice at...
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Credit Card Debt Rises As Consumers Face Higher Costs Of Living
2024 Jul 08, 7:11pm | 443U.S. consumers are certainly pulling out their credit cards to pay for goods and services, federal data has shown. The total outstanding credit card balance rose $11.3 billion to nearly $5.07 trillion in May, beating April’s jump by $4.8 billion, according to data released by the Federal...