The recent trends in the Nasdaq-100 index have indicated significant profit taking from many investors who have chosen to reduce their exposure to what is known as the “Magnificent Seven.” This includes tech giants such as Nvidia, Meta Platforms, and Alphabet, among others. As we continue to digest the earnings reports of these companies, there
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The U.S. dollar is holding steady in early European trade, waiting for the release of crucial inflation data. The Dollar Index, which tracks the greenback against a basket of other currencies, remains largely unchanged at 104.127. The recent data showing faster-than-expected economic expansion and slowing inflation in the U.S. has provided some support to the
Bitcoin price experienced a significant rise on Friday, bouncing back from losses earlier in the week. The world’s largest cryptocurrency surged by 4.2% in the past 24 hours, reaching $67,006.2 by 02:07 ET (06:07 GMT). This recovery came after Bitcoin had dropped to lows of around $63,000 due to a wave of selling pressure in
Living in a major city can be a dream for many people, but it comes with a hefty price tag. According to data by Numbeo, the monthly rent in Shanghai’s city-center costs approximately $2,700. This high cost of living is not limited to Shanghai, as major cities in Asia like Hong Kong and Singapore also
The volatility in the Chinese yuan has sparked concern among investors, with suspected intervention by the People’s Bank causing wild swings in the currency. This uncertainty has added to the already shaky ground that Asian currencies are treading on. The lack of direction in the yuan has left traders on edge, unsure of where the
The automotive industry took a hit this week as major U.S. automotive stocks experienced a decline. Ford Motor, in particular, faced a significant drop of more than 17% in early trading Thursday, marking its worst decline since 2009. The company missed Wall Street’s bottom-line earnings expectations, largely due to ongoing warranty problems. General Motors and
In a bold move, Charlie Visconsi and Ron Van Den Handel have departed from Preston Hollow Community Capital to establish V2 Municipal Capital, a firm dedicated to sourcing high-yield municipal deals in partnership with alternative asset manager Fundamental Advisors. This new venture marks a significant shift in the landscape of municipal finance, as Visconsi and
Lamb Weston, the Idaho-based supplier of frozen potato and vegetable products, faced a major setback as it emerged as the worst-performing stock in the S & P 500 following disappointing quarterly results. The fully diluted earnings per share plummeted over 70% from the same period the previous year, triggering a massive dip in the stock
As Bitcoin and Ether prices continue to fall, it is evident that a broader risk-off sentiment is keeping traders cautious of cryptocurrencies. The recent decline in prices can be attributed to various factors, including uncertainty surrounding the U.S. presidential election and a general wariness towards the crypto market. The launch of spot exchange-traded funds in
Investors have recently shown a bullish sentiment towards the Singapore dollar, marking the first time since mid-December. This positive outlook is largely attributed to the city-state’s robust growth and inflation dynamics, which continue to support the local unit. Long positions on the Singapore dollar have reached their highest levels since early April 2023, indicating a