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
Sales
The U.S. Treasury yields experienced a slight dip recently, as investors closely monitor the economic outlook in anticipation of key data releases. Of particular interest are the upcoming second-quarter GDP figures and June’s personal consumption expenditures price index, which serves as the Federal Reserve’s preferred inflation gauge. These reports will provide valuable insights into potential
UBS analysts are confident in their prediction of a soft landing for the US economy. They point to moderating consumer spending as a key factor in bringing down inflation. While recent economic data may show positive surprises, UBS believes that the underlying trend of below-trend growth remains. The Institute for Supply Management’s purchasing managers indexes
In July, the Small and Medium Enterprise Index (SMEI) rebounded to 50.4, showing signs of recovery in expectations and credit conditions. This improvement was evidenced by a rise from 49.9 in June, bringing the SMEI back into expansionary territory. Standard Chartered economists Hunter Chan and Shuang Ding noted that this rebound was largely due to
The upcoming economic indicators, including the Jibun Bank Services PMI and Tokyo’s core inflation rate, are crucial factors that could influence the Bank of Japan’s policy decisions on July 31. A higher-than-expected PMI in the services sector could potentially signal a recovery and justify a rate hike to strengthen the Japanese Yen. Similarly, an increase
Berkshire Hathaway recently made a strategic move by trimming its gigantic Bank of America holding for the first time in 4½ years. This decision came after Bank of America’s strong 2024 run, where Warren Buffett’s conglomerate sold 33.9 million shares of Bank of America for almost $1.5 billion in separate sales. This marked a significant
The second-quarter results of U.S. banks have revealed a concerning trend of increased provisions for credit losses, driven by deteriorating commercial real estate (CRE) loans and high-interest rates. In response to this, regional lenders like M&T Bank are gradually reducing their exposure to the troubled CRE sector and repositioning their balance sheets to concentrate on
Recent statements from top Chinese officials have highlighted the country’s commitment to focusing on its own affairs amidst escalating trade tensions with various nations. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, emphasized the importance of concentrating on internal matters to ensure the smooth running of
The recent comments made by Federal Reserve Chair Jerome Powell have had a significant impact on the dollar, causing it to hover around five-week lows. Powell’s remarks have bolstered the case for a rate cut in September, leading to a shift in rate cut expectations among market participants. This has resulted in the dollar index
The USD/JPY pair is showing an upward trend, currently trading around 158.30 during the early Asian trading session. This rise can be attributed to the slight recovery in the US Dollar (USD) market. Investors are closely monitoring the US June Retail Sales data and eagerly anticipating the speech by Federal Reserve Chair, Adriana Kugler, for
As we dive into the global financial markets on Monday, July 15, we see that they have started the week cautiously due to news of an assassination attempt on former President Donald Trump. While there are no major economic data releases scheduled for today, investors will be keeping an eye on Federal Reserve (Fed) Chairman
China’s National Bureau of Statistics recently reported that the country’s second-quarter GDP only rose by 4.7% year on year, which fell short of the expected 5.1% growth. This news has left many economists and investors concerned about the slower than anticipated growth in the Chinese economy. Additionally, June retail sales also missed estimates, only rising
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