Despite Temporary Lull, China's Gold Buying Spree Far From Over, Say Insiders
Despite a pause in gold purchases in May and June, China is expected to continue its long-term strategy of accumulating gold reserves. This ongoing interest is driven by several factors: China’s gold holdings remain low relative to its economic status, geopolitical tensions persist, and there’s a desire to diversify away from U.S. dollar-denominated assets. While […]
Dovish Fed Signals Propel Gold to New Heights
Gold prices are maintaining their strength near record highs, driven by increasing expectations of earlier interest rate cuts by the U.S. Federal Reserve. This sentiment has led to a weaker dollar and subdued Treasury yields, further boosting gold’s appeal. The precious metal’s upward momentum is supported by recent dovish comments from Fed officials and signs […]
Goldman Sachs Reveals Record Hedge Fund Sell-Off in U.S. Equities
Goldman Sachs reports that global hedge funds have been significantly reducing their exposure to U.S. stocks, particularly in the tech sector, over the past five trading days. This sell-off, the largest since November 2022 and approaching a five-year record, coincides with a broader market pullback in megacap tech-related stocks. The de-risking trend has been most […]
Domino’s Crashes Most Since Late 2008 After “Temporarily Suspending” Store Growth Guidance Metric
Domino’s Crashes Most Since Late 2008 After “Temporarily Suspending” Store Growth Guidance Metric Shares of Domino’s Pizza in premarket trading in New York crashed the most since late 2008 following a surprise announcement in an earnings report this morning about the company cutting its 2024 international store-growth target due to “challenges” faced by franchisee Domino’s Pizza Enterprises. Also, the company “temporarily suspended” […]
Global Central Banks Begin Slow Shift to Rate Cuts Amid Varying Economic Conditions
Major central banks are cautiously beginning to cut interest rates after a period of aggressive hikes to combat inflation. While the European Central Bank has paused after an initial cut, and the U.S. Federal Reserve may follow suit in September, other central banks like those in Switzerland, Sweden, and Canada have already made multiple cuts. […]
France Bans Muslim Hijabs From The Olympics
France Bans Muslim Hijabs From The Olympics Authored by Jonathan Turley, France’s Sports Minister, Amélie Oudéa-Castéra, has announced that French Muslim athletes will be barred from wearing hijabs at the Olympics. The decision is a gross violation of the religious freedom of Muslim athletes and should be condemned throughout the world. I have long been critical of […]
TSMC Beats Estimates On Strong AI Demand, Stabilizes Chip & Tech Stocks After Wednesday Carnage
TSMC Beats Estimates On Strong AI Demand, Stabilizes Chip & Tech Stocks After Wednesday Carnage Nasdaq 100 futures and the Philadelphia SE Semiconductor index stabilized ahead of the US cash session after better-than-expected earnings and strong forecasts from Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker. This stabilization follows a significant rotation out of […]
‘A Different Donald Trump’ Beams As Rivals Become ‘Converts’
‘A Different Donald Trump’ Beams As Rivals Become ‘Converts’ Authored by Philip Wegmann via RealClearPolitics, Republicans always seem to come home. Some sooner than others. Vivek Ramaswamy never really ran against him. Ron DeSantis threw his weight behind him within an hour of dropping out of the primary. But Nikki Haley, the last woman standing, […]
Initial Jobless Claims Rebounds To Highest Since Aug 2023
Initial Jobless Claims Rebounds To Highest Since Aug 2023 After seasonally-adjusted initial jobless claims plunged last week (NSA did not), they rebounded strongly this week from 223k to 243k – in line with the highest claims print since August 2023. On an NSA basis, claims exploded higher (and that is not a seasonal pattern). Source: […]
Market Snoozes As ECB Holds Rates Unchanged As Expected: “Not Pre-Committing To Particular Rate-Path”
Market Snoozes As ECB Holds Rates Unchanged As Expected: “Not Pre-Committing To Particular Rate-Path” As fully expected, The ECB decided to hold rates unchanged and gave a pretty clear statement to those looking for some strong guidance: Here’s what it says: “The Governing Council is determined to ensure that inflation returns to its 2% medium-term […]