Berkshire Hathaway, led by Warren Buffett, has made a significant move in the stock market by decreasing its stake in Bank of America for the sixth consecutive trading day. This decision comes after the conglomerate sold an additional 18.9 million shares, totaling 52.8 million shares over six trading sessions. It raises questions about the reasons
Potential
GBP/USD is currently experiencing a decline as market participants speculate about the possibility of a rate cut by the Bank of England. There is a growing concern about global growth, which is adding to the downward pressure on the currency pair. Currently, there is a 53% chance of rate cuts in August according to market
Sotheby’s, the renowned auction house, is venturing into a new kind of selling in Hong Kong with the opening of its first retail outlet. This innovative concept will offer a wide range of items, from collectible trainers to dinosaur fossils, with prices starting at several hundred dollars. This move comes at a time when luxury
The gold price (XAU/USD) has been facing significant selling pressure for the second consecutive day, resulting in a drop to a two-week low. This downward trend can be attributed to technical selling activities. However, the decline is expected to be limited due to certain supporting factors in the market. One such factor is the growing
The ongoing household spending trends in Q2 2024, with a decline of 1.2% in April and 0.3% in May, paint a worrying picture for the economy. Weak consumer spending could potentially signal a reduction in demand-driven inflationary pressures. This could further contribute to a quarterly contraction, creating a challenging macroeconomic environment for rate hikes. The
In a surprising turn of events, former New York Federal Reserve President Bill Dudley has advocated for rate cuts by the Fed in the upcoming week, marking a stark departure from his previous stance supporting a “higher-for-longer” rate regime. Dudley cited changing economic conditions as the primary reason behind his shift in perspective, emphasizing the
With the Bank of Canada potentially lowering interest rates for the second time in the current cycle, market analysts are closely monitoring the situation. The seasonal adjusted monthly rates of change are in line with inflation targets, indicating a rate cut may be imminent. The market has already priced in this possibility, with the Bloomberg
The downward trend of Brent crude oil prices has been prominent, with prices dropping to 81.14 USD per barrel as of Wednesday. This decline has persisted for five consecutive sessions, largely due to the noteworthy decrease in US oil inventories. The latest data reports a reduction of 3.9 million barrels, exceeding the anticipated decline of
The EUR/USD pair has been struggling to clear the 1.0950 resistance level and has subsequently declined against the US Dollar. Despite some attempts to break above this level, the pair failed to do so and started a fresh decline below the 1.0900 support. This downward movement led to a breach below the 1.0875 support and
The semiconductor industry has been closely monitored in recent years, especially with the rise of China as a key player in the global market. According to a recent report by Bank of America analysts, four of the world’s largest semiconductor equipment manufacturers, including ASML, have experienced a significant increase in their China revenue. Since late
The NZD/USD pair is currently facing downward pressure around 0.5945 in the early Asian trading session, with a 0.25% decline on the day. This decline can be attributed to rising expectations of rate cuts by the Reserve Bank of New Zealand (RBNZ) and concerns about sluggish Chinese economic activity. The recent softer Consumer Price Index
Alphabet, the tech giant, reported a beat on both top and bottom lines in the second quarter, earning $1.89 per share on $84.74 billion in revenue. However, the stock slipped 1% as revenue at its YouTube advertising segment missed forecasts. Tesla Shares of Tesla declined by 4.7% after second-quarter earnings missed consensus estimates. The company
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