The personal consumption expenditures price index (PCE) increased 0.1% in June 2024 and was up 2.5% from a year ago, with the annual rate showing a slight decline from the prior month Core inflation, which excludes food and energy, showed a monthly increase of 0.2% and 2.6% on the year,Read More →
In the second quarter of 2024, the U.S. economy expanded at a strong annual rate of 2.8%, exceeding economists’ forecasts. This surge was fueled by positive consumer spending, substantial government expenditures, and increased inventories. The personal consumption expenditures price index saw a 2.6% rise in the same timeframe, a decreaseRead More →
Stocks sold off Wednesday 24th July 2024, blighted by underwhelming reports from Tesla and Alphabet – leading the Nasdaq Composite and the S&P 500 to post their worst sessions since 2022. The S&P 500 index dropped to closing at 5427, while the tech-heavy Nasdaq slid around 3.65% to end at 17342. The DowRead More →
Bitcoin is often likened to a type of digital gold, but Ether is seen more as a native cryptocurrency on the Ethereum blockchain. It is generally seen as a trade or bet on the growth and of the development of the blockchain and of crypto more widely. Many of theRead More →
U.S., UK and Germany hold more Bitcoin than you may think. According to the Arkham website, the United States’ government holds some 212,847 BTC making it one of the biggest holders of Bitcoin, while the treasuries of the U.K. and Germany reportedly hold around 61,245 BTC and 49,858 BTC each.Read More →
The Consumer Price Index (CPI), a comprehensive gauge for goods and services costs, saw a 0.1% decrease from May 2024, bringing the annual rate to 3%, which is near its lowest point in over three years. When removing the unstable food and energy prices, the core CPI rose by 0.1%Read More →
Japan’s Nikkei 225 surpassed the 42,000 threshold for the first time ever during a widespread increase in Asia-Pacific markets on Thursday 11th July 2024. This surge followed a rally in U.S. Big Tech stocks, fueled by optimism over a potential Federal Reserve rate cut moving ever closer. The Nikkei climbedRead More →
Jerome Powell on Tuesday 9th July 2024 reportedly expressed concern that holding interest rates too high for too long could jeopardize economic growth. This comment came ahead of the consumer price index reading due this week. Preparing for a two-day session on Capitol Hill, the central bank chief stated thatRead More →
China’s consumer price inflation rose by 0.2% in June 2024 from a year ago, falling short of expectations. Meanwhile, producer prices remained in line with forecasts. Main points Consumer Price Index (CPI) China’s CPI was expected to rise by 0.4% year-on-year in June, according to poll conducted by Reuters. However,Read More →
Asia-Pacific markets witnessed highs on Tuesday 8th July 2024, mirroring the gains on Wall Street where the S&P 500 and the Nasdaq Composite ended at record highs. India’s Nifty 50 index also hit an all-time high of 24401.2 Investors are anticipating the forthcoming U.S. consumer price index release to discern the Federal Reserve’sRead More →
Markets respond positively to job data as the S&P 500 and Nasdaq break record highs, again! S&P 500 record high Nasdaq Composite record high Nasdaq 100 record high U.S. non-farm payrolls increase The U.S. economy added slightly more jobs than expected in June 2024 though the unemployment rate increased, the U.S.Read More →
Tungsten is a critically important rare earth metal, renowned for its unique and valuable properties. Tungsten has the highest melting point among all metals, which makes it exceptionally suitable for high-temperature applications. Key aspects of its importance Industrial and technological applications Tungsten is used in many industries where hardness, high density, high wearRead More →
In June 2024, private companies created 150,000 jobs, falling short of the revised figure of 157,000 in May 2024 and the estimate of 160,000. The leisure and hospitality sector led the way with 63,000 new jobs, marking the largest increase among the categories tracked by the payroll processing firm ADP.Read More →
Federal Reserve Chair Jerome Powell has expressed satisfaction with the current progress in the inflation battle but indicated a desire for additional positive data before considering a reduction in interest rates. “We want to be more confident that inflation is moving sustainably down toward 2% before we start the processRead More →
The core Personal Consumption Expenditures (PCE) price index witnessed a modest increase of 0.1% (seasonally adjusted) for the month and has risen 2.6% from the previous year – broadly as expected by analysts. May 2024 experienced the lowest annual rate since March 2021, the Federal Reserve’s inflation target is 2%.Read More →
On Friday 28th June 2024, the Japanese yen dropped to its lowest point in 38 years, surpassing the 161 threshold against the dollar reached for the first time since December 1986. The yen has faced challenges, slipping beyond the 160 mark again. Since the Bank of Japan concluded its negativeRead More →
For the first time, automotive companies in China surpassed their U.S. counterparts in car sales last year, driven by BYD and expansion in emerging markets, according to a data released Thursday 13th July 2024. Chinese brands such as BYD now at the forefront, reportedly sold 13.4 million new vehicles lastRead More →
The U.S. economy exceeded job growth expectations in May 2024, alleviating concerns of a labour market downturn but potentially diminishing the Federal Reserve’s motivation to cut interest rates. Non-farm payrolls surged by 272,000 for the month – a significant increase from April’s 165,000 and surpassing the consensus forecast of 190,000.Read More →
China’s exports in May increased more than anticipated, whereas imports fell short of expectations, according to customs data released on Friday 7th May 2024. Exports increased by 7.6% in May from the previous year, surpassing the analysts’ expectations of 6% growth. Imports, however, increased by 1.8% during that time, missingRead More →
This expansion occurs as the European Union investigates subsidies provided to Chinese electric vehicle manufacturers, a situation that may lead to the imposition of tariffs. In May 2024 Nio opened a new EV showroom in Amsterdam, while Xpeng introduced its G9 and G6 sports utility vehicles in France. Over theRead More →
Leading technology companies, such as Microsoft, Amazon, and OpenAI, have united under a significant international accord for artificial intelligence (AI) safety measures, established at the Seoul AI Safety Summit on Tuesday 21st May 2024. Following the agreement, firms from various nations, including the UK, China, Canada, the U.S., France, SouthRead More →
The federal debt reportedly reached $34.5 trillion, marking an increase of approximately $11 trillion since March 2020. This surge has sparked discussions among government and financial leaders, with a notable Wall Street firm questioning whether the associated costs could threaten the stock market’s upward trend. The Congressional Budget Office projectsRead More →
Baidu, one of China’s leading search engine firms, surpassed analysts’ revenue forecasts for the Q1 on Thursday 16th May 2024. This was predominately due to a recovery in advertising revenue and a surge in demand for its AI-driven cloud products. The company announced a revenue of 31.51 billion yuan ($4.37Read More →
Wholesale prices surged unexpectedly in April, presenting another potential obstacle to any imminent cuts in interest rates. The Producer Price Index (PPI), which tracks the average trajectory of selling prices received by domestic producers for their output, increased by 0.5% in April. It also showed a 2.2% rise on aRead More →
Tensions between Washington and Beijing have intensified, with the U.S. ramping up trade restrictions and sanctions on China due to national security concerns. Since Ukraine’s invasion, there has been a roughly 12% drop in trade between the blocs, and foreign direct investments have decreased by 20% compared to those withinRead More →
