Gold Breaks Election Year Norms Amid Heightened Global Tensions
Gold prices have reached record highs in 2024, defying typical behavior during U.S. presidential election years. According to the World Gold Council, while elections historically have not directly impacted gold performance, the current political climate of increased polarization and elevated geopolitical risks may be encouraging investors to seek gold as a hedge against portfolio risk. […]
Invesco Strategist Predicts Multiple Reductions in 2024
Kristina Hooper, Invesco’s chief global market strategist, believes multiple rate cuts could be possible in 2024. Despite disappointing existing home sales data, Hooper remains optimistic about potential rate cuts in 2024, suggesting the possibility of two or even three cuts. Hooper attributes the current tech sector rotation to anticipation of these rate cuts, which could […]
Bank of Canada Cuts Rates For Second Consecutive Month, Says “Reasonable” To Expect More
Bank of Canada Cuts Rates For Second Consecutive Month, Says “Reasonable” To Expect More The Bank of Canada, which last month became the first G7 bank to launch an easing cycle, moments ago cut interest rates by a quarter percentage point for a second consecutive meeting and signaled further easing ahead as inflation worries wane. […]
Inflation No Match for Coca-Cola's Global Demand in Q2 Earnings
Despite higher prices due to inflation, global demand for Coca-Cola’s beverages remained robust, with unit case volume up 2% and pricing up 9%. Coca-Cola reported strong second-quarter results, beating Wall Street estimates with a 3% revenue growth to $12.4 billion and a 7% increase in earnings per share to $0.84. CEO James Quincey attributes the […]
US New Home Sales Unexpectedly Tumbled In June As Homebuyer Confidence Crashes To Record Low
US New Home Sales Unexpectedly Tumbled In June As Homebuyer Confidence Crashes To Record Low After a disappointing dump in existing home sales in June, new home sales just confirmed the slowdown, dropping 0.6% MoM (notably below the 3.4% MoM expected) and also saw a major downward revision in May from -11.3% MoM to -14.9% […]
US Services Soar, Manufacturing Slumps In Preliminary July PMIs
US Services Soar, Manufacturing Slumps In Preliminary July PMIs The Euro area composite flash PMI declined by 0.9pt to 50.1, notably below consensus. The deceleration in the composite index was broad-based across sectors, with the manufacturing output index falling to 45.3, and the services index declining to 51.9. Across countries, the decline in the area-wide […]
Netanyahu Faces ‘Day Of Rage’ Pro-Palestinian Protest In DC As Many “Willing To Get Arrested This Time”
Netanyahu Faces ‘Day Of Rage’ Pro-Palestinian Protest In DC As Many “Willing To Get Arrested This Time” Israeli Prime Minister Benjamin Netanyahu arrived in Washington, DC, on Monday. Today, he plans to address Congress to strengthen American support for his multi-month war in Gaza to eliminate Hamas terrorists. Meanwhile, outside the Capitol Complex, thousands of pro-Palestinian […]
Deutsche Bank Plunges After Jump In CRE Loss Reserves, Shelves Plans For Buyback
Deutsche Bank Plunges After Jump In CRE Loss Reserves, Shelves Plans For Buyback After a seemingly endless streak of stronger than expected earnings reports, this morning Deutsche Bank posted its first quarterly loss in four years as revenue from fixed-income and currencies fell about 3%, trailing the average 5% gain on Wall Street (even as […]
Silver vs Fiat: The Fall of Minimum Wage in Real Terms | Mike Maloney
In this eye-opening video, Mike Maloney breaks down complex economic concepts to reveal that the minimum wage has effectively fallen by over 70% …
Ferrari Expands Crypto Payments To Europe After Successful US Launch
Ferrari Expands Crypto Payments To Europe After Successful US Launch Authored by Helen Partz via CoinTelegraph.com, Ferrari, the Italian luxury sports car producer, is preparing to expand its cryptocurrency payment system to Europe following a successful launch in the United States. Ferrari will extend its crypto payment feature to its network of European dealers from […]