U.S. stock indexes fell sharply on Monday during the European session amid growing concerns about an economic slowdown, with technology stocks being hit the hardest. Fear of economic slowdown hits Wall Street The sharp losses in Wall Street futures came after U.S. stock markets had been rattled the previous week on fears of a possible […]
Senator Lummis Introduces Bill to Establish a Bitcoin Reserve in the U.S.
The bill, abbreviated as the “BITCOIN Act of 2024,” calls for the U.S. Treasury to purchase bitcoins over a 5-year period until a pool of 1,000,000 BTC is achieved. The plan to incorporate Bitcoin (BTC) into the U.S. national reserves is beginning to take shape. U.S. Senator Cynthia Lummis has advanced the first draft of a bill that […]
U.S. Stock Markets Soar Boosted by Federal Reserve Decision, Microsoft Fails to Deliver
U.S. stocks rose Wednesday on optimism that the Federal Reserve will lead the way to a rate cut in September, overshadowing disappointing results from Microsoft. Here’s what’s happening today in the stock market. Optimism about the Fed All eyes are on the Federal Reserve on Wednesday as the U.S. central bank wraps up its latest […]
Dollar Falls Ahead of Fed Decision, Yen Rises on BOJ Hike
The U.S. dollar declined on Wednesday in anticipation of the Federal Reserve’s latest interest rate meeting, while the Japanese yen soared after the Bank of Japan decided to tighten monetary policy. Below, we will discuss what is happening in the currency market. Dollar Loses Ground Ahead of Fed Decision The Federal Reserve ends its two-day […]
Ether ETFs Rack Up $340 Million in Outflows in Their First Week
Outflows of more than $1.5 billion from the high-fee Grayscale Ethereum Trust have outpaced inflows into other spot products. Negative Net Flows in the First Week Spot Ether (ETH) exchange-traded funds (ETFs) saw negative net flows in their first week due to heavy outflows from Grayscale’s Ethereum Trust (ETHE), which outpaced interest in competing products. […]
U.S. Recession Indicator Close to Turning On
According to FRED data, the threshold will be breached if the unemployment rate rises to 4.2% in this week’s employment report, which is set for release on August 2. Economists’ Forecast for the July 2024 Employment Report The preliminary forecast for the July employment report, to be released Friday, calls for a net gain of […]
US Stocks Rise, Caution Ahead of Fed Meeting and Microsoft Results
US stocks rose on Tuesday in a cautious environment ahead of the Federal Reserve meeting and the release of results from some of the largest US companies. Here is what is happening in the stock market. Fed Meeting Awaited for More Clues on Interest Rates Markets are on edge ahead of the Federal Reserve’s latest […]
Dollar Steady Ahead of Fed Meeting; Traders Remain on Alert
The US dollar was trading flat on Tuesday as traders remained cautious and on alert ahead of the start of the Federal Reserve’s latest interest rate meeting. Here is what is moving the currency market today. Dollar Quiet Ahead of Fed Meeting The Federal Reserve begins its two-day policy meeting on Tuesday and is expected […]
Market Highlights for the Week: Rates, Earnings, BoE
This week will be decisive for markets, with monetary policy meetings of the Federal Reserve, the Bank of England, and the Bank of Japan. Additionally, Friday will see the release of the US employment report and the results of major technology companies. Here is a summary of what to expect in the markets this week. Federal Reserve […]
Bitcoin Price Today: Back to $70,000 on Trump’s Announcement of More Favorable Regulation
The price of Bitcoin surged on Monday, extending gains made over the weekend after Republican presidential candidate Donald Trump raised the likelihood of more favorable regulation during his speech at the Bitcoin Convention. Although the cryptocurrency initially reacted somewhat negatively to Trump’s speech, mainly because he stopped short of specifically promising a national reserve, buyers […]