Australia consumer sentiment improves in Oct- Westpac
-- Australian consumer sentiment hit an over two-year high in early-October, a private survey showed on Tuesday, amid growing confidence that local interest rates will...
-- Australian consumer sentiment hit an over two-year high in early-October, a private survey showed on Tuesday, amid growing confidence that local interest rates will...
According to BlockBeats, on October 8, the President of the Federal Reserve Bank of St. Louis, Musalem, expressed his support for the Federal Reserve's decision to cut interest rates by 50 basis points last month. However, he emphasized his preference for further rate cuts to be implemented gradually. Considering the current economic conditions, Musalem believes that the cost of easing too early and too much outweighs the cost of easing too late and too little. Over time, a gradual reduction in policy rates may be appropriate. He also predicted that the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures Price Index (PCE), will converge to 2% over the 'next few quarters.'
A judge has reportedly approved payments to customers of collapsed crypto exchange FTX — and its shareholders could get $1 billion in seized assets.
The latest economic data reveals a dip in Consumer Credit, with the actual figure falling short of forecasted numbers. The total value of outstanding consumer credit requiring...
A hotter-than-expected September jobs report has investors once again focused on whether things may be too hot for the Fed to keep cutting interest rates.
According to Cointelegraph, a European Central Bank (ECB) official has proposed the creation of a 'European ledger,' a unified blockchain platform for digital assets and money across the continent. This initiative aims to enhance efficiency and synergy within European digital markets. ECB executive board member Piero Cipollone highlighted the fragmentation and unharmonized legislation in Europe’s traditional capital markets, suggesting that a digital capital markets union could address these issues.Cipollone noted that over 60% of banks in the European Union are exploring or experimenting with distributed ledger technology (DLT), with another 22% already utilizing it. However, he emphasized that while DLT offers opportunities for financial integration, it does not guarantee it. He pointed out that non-interoperable technological ecosystems shaped by different national regulatory regimes have created isolated pools of asset liquidity, further entrenching fragmentation.Currently, DLT is primarily used for issuing assets, but extending its use to negotiation, settlement, and custody on a single platform could reduce costs and enable round-the-clock operations. Cipollone stated that investors would benefit from the broader use of DLT, but central banks also have a vested interest in ensuring that central bank money remains a cornerstone of stability in a token-based capital market.The concept of a unified ledger, where cash and assets coexist on the same platform, has garnered support from the Bank for International Settlements and various central banks. Institutions like SWIFT and JPMorgan have also shown interest. However, Cipollone cautioned that while a European ledger could promote financial stability and integration, it might also stifle innovation, particularly for specific use cases. He suggested that traditional finance might benefit more from the flexibility offered by competing DLT platforms.As these discussions continue, the ECB is exploring ways to settle DLT transactions with central bank money, despite concerns that relying on existing interoperability solutions in the long term could perpetuate inefficiencies.
“Money Electric: The Bitcoin Mystery,” a new documentary from HBO (WBD) debuting Tuesday, promises to unmask one of the richest and most mysterious figures on the planet: the creator of Bitcoin.
Today on Yahoo Finance's Good Buy or Goodbye, Host Julie Hyman is joined by Mizuho Americas managing director and senior analyst of utilities Anthony Crowdell to discuss the best and worst stock picks for investors in the utilities sector (XLU). Crowdell recommends Pinnacle West Capital (PNW) as a buy. He emphasizes that state regulation is crucial for utilities, and Arizona, where Pinnacle West operates, is seeing improved regulatory conditions. Crowdell believes a potential policy statement from Arizona could give the company "continued momentum" and help it earn better returns. He also highlights the company's attractive load growth, noting that while energy efficiency has generally slowed consumption across the sector, post-pandemic relocation trends and data center growth are boosting demand in certain areas — with Pinnacle West Capital benefiting from this trend. Finally, he cites an attractive valuation with a 3% premium. On the other hand, Crowdell advises investors to avoid FirstEnergy (FE). The Ohio-based company faces regulatory uncertainties following a bribery scandal involving previous management. "We don't know how state regulation is gonna work out here," Crowdell cautions. Despite management changes, he notes ongoing challenges, particularly potential impacts on the company's balance sheet. This post was written by Angel Smith
As the third quarter earnings season kicks off, Keith Buchanan, GLOBALT Investments senior portfolio manager, joins Wealth! to break down what investors can expect. "The expectations for earnings have started to accelerate from mid-single digits to next year to mid-double digits. And coming into this fourth quarter is a real transition quarter from that lower healthy growth to robust growth. And a lot of that comes from not only being, of course, healthy growth from artificial intelligence... but also a widening of earnings growth and revenue growth that you can see beyond the traditional growth sectors like technology (XLK), consumer services (XLP). That's actually moving out some to industrials (XLI), energy (XLE). And that's more breadth to the earnings growth, which gives it a lot more stability over the near and longer term," Buchanan tells Yahoo Finance. As Wall Street heads into the year-end, Buchanan is focused on AI plays and value stocks. He highlights areas like financials (XLF), industrials (XLI), and consumer discretionary (XLY) that are poised for growth heading into 2025, explaining, "Those valuations are miles away from where they traditionally trade on a relative to the broader S&P 500 (^GSPC)." Volatility is expected in the months ahead amid rising Middle East tensions and the 2024 presidential election. Buchanan encourages investors to take into consideration geopolitical tensions when assessing their portfolios. However, he advises against making any moves tied to the election. "We want to take all of the incoming information that we have that could affect the consensus of where we're going economically, monetarily over the next two years. And take that into consideration when we're thinking about the long-term approach to our clients' assets," he concludes. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl
US stocks (^DJI, ^IXIC, ^GSPC) are largely flat in Monday's morning trading despite rallying on September's jobs report last Friday. BTIG managing director and chief market technician Jonathan Krinsky sits down with the Catalysts team to discuss the momentum trade behind market indexes and select sectors. "Even in election years when October finishes green, there is almost always some sort of Intra month drawdown. And we did have a little bit early last week," Krinsky says. "But, I think, we should expect a bit more than what we saw last week. So that's still our base case, but the fact that the bulls did hold the line, that 5,670 level [for the S&P 500] was the prior highs back this summer. We held above that..." Krinsky also weighs in on the trajectory for the tech sector and small-cap stocks. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.