BofA Warns “Enforcement Action” By Feds Possible Over Money Laundering, Zelle
BofA Warns “Enforcement Action” By Feds Possible Over Money Laundering, Zelle A little more than two weeks after Toronto-Dominion Bank pleaded guilty to multiple criminal charges and paid $3 billion in fines and other penalties to the Department of Justice and financial regulators for failing to monitor money laundering operations of fentanyl drug traffickers and other criminals, the investigation into suspected […]
Inflation Cools as US Economy Grows 2.8% in Third Quarter
The US economy grew at an annualized rate of 2.8% in the third quarter of 2024, slightly below the expected 2.9% and lower than the previous quarter’s 3% growth. Despite falling short of expectations, economists view this as a sign of solid economic performance. The core PCE index, a key inflation measure, increased by 2.2%, […]
World Gold Council Reports Q3 Gold Demand Reaches $100 Billion Milestone
Global gold demand hit a record high in Q3 2024, reaching 1,313 tonnes, up 5% year-on-year. The value of gold demand surged 35% to exceed $100 billion for the first time, driven by rising gold prices and renewed interest in gold ETFs. Factors contributing to gold’s strength included expectations of falling interest rates, Middle East […]
Fat Bubble Popped: Lilly Shares Dive On Disappointing Weight-Loss Drug Sales
Fat Bubble Popped: Lilly Shares Dive On Disappointing Weight-Loss Drug Sales Shares of Eli Lilly & Co tumbled in premarket trading after third-quarter sales of its blockbuster weight-loss drug fell short of Wall Street’s expectations, with the company citing ‘inventory issues’ as the reason. In reality, it seems Lilly channeled stuffed GLP1s to cash in on the anti-obesity drug craze, only […]
Super Micro Crashes After Auditor Resigns
Super Micro Crashes After Auditor Resigns Super Micro Computer says Ernst & Young resigns as auditor amid a review after EY communicated concerns about several matters relating to governance, transparency and completeness of communications in July. SMCI stated in a filing that in late July 2024, EY communicated to the Audit Committee concerns about several […]
AI Boom Puts Pressure On America’s Water Supply, JPMorgan Warns
AI Boom Puts Pressure On America’s Water Supply, JPMorgan Warns Authored by Tom Ozimek via The Epoch Times (emphasis ours), The rapid expansion of artificial intelligence (AI) in the United States is adding significant strain to the nation’s already stressed water supply, according to a new report by JPMorgan Chase and consultancy ERM, which calls […]
US Q3 GDP Growth Disappoints, Despite Surging Personal, Government Spending
US Q3 GDP Growth Disappoints, Despite Surging Personal, Government Spending Just moments after ADP published a laughably slanted private payrolls report according to which the US labor force grew by 233K in October (even though we are still in October), 6 standard deviations above the median estimate, moments ago the Biden Bureau of Economic Analysis […]
76% Of Americans Are Worried About Post-Election Violence: Poll
76% Of Americans Are Worried About Post-Election Violence: Poll Authored by Tom Ozimek via The Epoch Times (emphasis ours), A new poll shows that the vast majority of Americans are at least somewhat worried about a possible outbreak of violence following the fast-approaching Nov. 5 presidential election. An early voting site ahead of the Republican […]
October Surprise: ADP Employment Report Signals Six-Sigma Beat (A Week Before Elections)
October Surprise: ADP Employment Report Signals Six-Sigma Beat (A Week Before Elections) With the election right around the corner, we simply can’t imagine a ‘bad’ employment print… and sure enough… ADP’s Employment Report shows the addition of 233k jobs in October (more than double the 111k addition expected) and September was revised higher… Source: Bloomberg […]
Futures Flat Even As Surging Alphabet Leads Tech Higher, Gold Hits New Record
Futures Flat Even As Surging Alphabet Leads Tech Higher, Gold Hits New Record US equity futures are flat, reversing modest overnight gains ahead of the next batch of earnings. As of 8:00am ET, S&P futures were flat while Nasdaq 100 futures are up 0.1%; GOOG was the second of the Mag7 to beat earnings, and […]