On Friday, Wall Street experienced a surge in stock prices, with the S&P 500 and Dow Jones Industrial Average reaching new record highs. Investors were optimistic about potential interest rate cuts by the U.S. Federal Reserve in September, prompting a flurry of activity in the market. However, despite the initial spike in stock prices, the
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The recent fall of the dollar against the yen for two consecutive days has raised concerns about Japan’s possible intervention in the currency markets. Meanwhile, global equities saw a rise as investors shifted their attention towards the anticipated U.S. Federal Reserve interest-rate cuts. The fluctuation in the benchmark 10-year U.S. Treasury yield, following the release
In the week ending July 5, foreign investors poured a significant amount of money into Japanese stocks, totaling a net purchase of 916.05 billion yen, marking their most substantial weekly investment since January 12. This surge in investments was primarily fueled by a market rally and optimism surrounding the solid corporate earnings expected in the
A rally in chip stocks recently lifted the Nasdaq and S&P 500 to record highs. Companies like Nvidia, Super Micro Computer, and Intel saw significant gains in their stock prices. Nvidia jumped 2.5%, while Super Micro Computer, a company that makes AI-optimized servers using Nvidia’s chips, rallied almost 9%. Intel also rallied almost 6%. This
The upcoming June inflation report, scheduled for release on Thursday, July 11, is creating a buzz among investors and economists alike. Market expectations are leaning towards a 0.1% month-over-month increase and a 3.1% year-over-year change, with core CPI forecasted to go up by 0.2%. Bank of America is in agreement with these projections but is
The U.S. job market is expected to have experienced slower growth in June, with the unemployment rate holding steady at 4%. While the economy continues to expand, the pace of job creation is likely to have cooled off. This slowdown in job growth may indicate that the Federal Reserve will be able to control inflation
The recent data on labor market indicators presents a concerning picture, signaling a potential weakening in the labor market. This could have significant implications for both wage growth and disposable income. The ANZ-Indeed Job Ads index, which experienced a 2.2% decline in June following a 1.9% drop in May, suggests a slowdown in hiring activity.
Japan’s household spending has been a key factor influencing the USD/JPY pairing. Beyond just the numbers, investors need to closely monitor threats of intervention and commentary from the Bank of Japan (BoJ). The concern about the impact of a weak Yen on the Japanese economy has the potential to sway both government and BoJ decisions.
Recently, Japanese Finance Minister Shunichi Suzuki made comments regarding the foreign exchange market, stating that he will take necessary actions to address any issues that may arise. While he refrained from commenting on specific forex levels, he emphasized the importance of FX stability and the need to monitor FX movements closely. These statements come at
The recent ruling by the U.S. Supreme Court on the tax imposed on Americans who have investments in certain foreign corporations has raised significant discussions and debates among lawmakers and legal experts. The case involved a retired couple from Redmond, Washington, Charles and Kathleen Moore, challenging the tax on foreign company earnings that have not
The Australian dollar remained steady after the Reserve Bank of Australia (RBA) decided to keep rates at 4.35%, as expected. The central bank warned against inflation risks and traders adjusted their expectations accordingly. Despite the lack of surprises in the RBA decision, the Aussie dollar held firm at $0.6612. Market sentiment was further buoyed by
GameStop recently made headlines by raising more than $2 billion through a successful stock sale. This move came at a time when the company was able to capitalize on a renewed interest in meme stocks, fueled by the resurgence of trader Roaring Kitty. By completing an at-the-market equity offering and selling 75 million shares, GameStop
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