Dow Tumbles 760 Points as Market Reacts to Recession Worries
The Dow Jones Industrial Average plummeted 760 points on Friday, driven by recession fears and disappointing earnings reports, following a 494-point drop on Thursday. Intel’s stock, in particular, plunged 28.8% after a poor earnings report, contributing significantly to the Dow’s decline. This marked Intel’s largest one-day drop since 1974, shaving about 55 points off the […]
Five Takeaways From Yesterday’s Historic Prisoner Swap
Five Takeaways From Yesterday’s Historic Prisoner Swap Authored by Andrew Korybko via substack, Russia and the West exchanged 24 prisoners on Thursday in the largest such swap since the Old Cold War. The Wall Street Journal (WSJ) and CNN published detailed reports about the diplomacy that led up to this deal, which included the WSJ’s Evan Gershkovich and Russia’s […]
Morgan Stanley Forecasts Gold Price to $2,600
Morgan Stanley predicts that gold prices will soar to $2,600 per ounce by the fourth quarter of 2024, driven by central bank purchases, increased retail demand, and global geopolitical turmoil. Despite a 50% rise from 2022 lows and a 25% increase since mid-February, gold’s appeal as a safe-haven asset continues to grow. Factors such as […]
Gold's Ascent Continues: Breaking $2,483.40 Could Lead to New Heights
Gold prices have resumed their upward trajectory, reaching the anticipated target of $2,483.40. This level is crucial, as breaking through it could propel the price to the next significant milestone of $2,500.00. However, if the current bullish trend fails to maintain momentum, it could trigger substantial sell-offs, potentially pushing the price down to $2,420.00 or […]
China's Weak Recovery Dampens Global Corporate Growth Prospects
China’s sluggish economic recovery, marked by a protracted property market downturn and high job insecurity, is impacting global corporate growth. Major companies like Starbucks, General Motors, and various tech firms have reported challenges due to weak consumer spending and ineffective stimulus measures. China’s economy grew slower than expected in Q2 2024, with retail sales hitting […]
China's Bond Market Flashing Warning Signs
China’s bond yields have fallen to record lows, with the 10-year bond yield dropping to 2.13% and the 30-year note yield to 2.37%, despite repeated warnings from the People’s Bank of China (PBoC) about a potential bubble in the sovereign bond market. Investors are responding to deflationary pressures and weak economic indicators in China, including […]
Global CIO Office CEO Touts Gold as Top Investment Pick
Gary Dugan, CEO of the Global CIO Office, expressed his views on various investment assets during an appearance on “Bloomberg: Markets Asia” on August 2, 2024. Dugan highlighted gold as a preferred asset, while also discussing technology stocks and bonds. His insights provide valuable perspective on current market trends and investment strategies for investors looking […]
Gold Surges as Weak US Jobs Data Fuels Rate Cut Expectations
The US jobs report for July 2024 showed weaker-than-expected hiring and a rise in unemployment, suggesting a cooling labor market. This data has strengthened expectations for the Federal Reserve to cut interest rates soon, causing Treasury yields and the dollar to fall. As a result, gold prices surged, approaching the all-time high set last month. […]
Chevron Abandons California For New Headquarters In Houston
Chevron Abandons California For New Headquarters In Houston Bye-bye, Governor Gavin Newsom. After more than a century of operations in California, energy giant Chevron announced that it will move its San Ramon headquarters to Houston, Texas. Bloomberg states the move was primarily due to the state’s “adversarial” regulations toward the fossil fuel industry. Chevron’s move is more evidence the multi-year mass exodus of companies and residents fleeing […]
Harris And The Bouncing Balloon Campaign
Harris And The Bouncing Balloon Campaign Authored by Sean Trende via RealClearPolitics, We all know that this election will be different than any other election we’ve had in recent decades – how could it not be? This is a 100-day campaign through Election Day, and a 45-day campaign until early voting begins. The dynamics are […]