Asia FX muted as dollar steadies ahead of Powell; yen remains fragile
-- Most Asian currencies edged lower on Tuesday as the dollar found some strength before a testimony by Federal Reserve Chair Jerome Powell, while the yen languished...
-- Most Asian currencies edged lower on Tuesday as the dollar found some strength before a testimony by Federal Reserve Chair Jerome Powell, while the yen languished...
The former president of the United States is launching a crypto yield product, even as he appeals to the crypto industry in his current bid for office. Donald Trump will be the "chief crypto advocate" for World Liberty Financial, a venture that has offered scant hints so far about what it will actually do.
-- Australian consumer sentiment worsened in early-July, coming close to its weakest level since the COVID-19 pandemic as sticky inflation saw consumers grow more...
Each of the funds address market trends and investor demand.
While contending with September's seasonal volatility, stocks (^DJI, ^IXIC, ^GSPC) slide further in Friday's session in response to the August jobs data released this morning. While nonfarm payroll jobs growth came below economist expectations, the unemployment rate ticked down to 4.2%. All of these factors are colliding with losses seen in the AI chip trade as semiconductor manufacturers Nvidia (NVDA) and Broadcom (AVGO) failed to wow Wall Street with their earnings beats. John Hancock Investment Management co-chief investment strategist Emily Roland sits down with the Market Domination team to discuss which sectors investors can find more quality trades in while avoiding risk. "The poster child for quality is mega-cap tech. We like that, but we do have a valuation issue there with the tech sector bumping up towards 30-times forward earnings," Roland explains. "So we want to look at other areas of the market quality at a reasonable price, if you will. So looking at sectors like healthcare, which are trading at a 10% discount to the broad market..." Roland weighs in on Big Tech stocks, the AI trade, and the bond market (^TYX, ^TNX, ^FVX) ahead of the Federal Reserve's plans to cut interest rates. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
Hopes for a more favorable interest rate environment faded over the past few days.
(Bloomberg) -- Nvidia Corp. wiped out about $406 billion in value this week, weighing on key equity benchmarks as jitters spread over the health of the US economy and an AI trade that may have gotten ahead of itself.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Chargin
According to BlockBeats, former U.S. Treasury Secretary Lawrence Summers commented on September 7 that while the August non-farm payroll report was not particularly poor, it has made predicting the Federal Reserve's potential rate cut this month more challenging.In an interview, Summers stated, 'Although the data does not show significant weakness, if you are concerned about recent statistical trends, these figures certainly do not provide assurance of economic health.' He added, 'Compared to my guesses from one or two months ago, the probability of a 25 basis point and a 50 basis point rate cut in September now seems closer.'Summers emphasized that the initial scale of the Federal Reserve's action is not crucial. Officials will closely monitor the development of the economic outlook and adjust policies accordingly. He noted, 'If the economy weakens significantly, they will cut rates substantially. If the economy does not weaken significantly, they may proceed with rate cuts at roughly one meeting at a time.'
According to BlockBeats, on September 7, White House economic advisor Boushey stated that the latest employment report indicates the U.S. economy continues to progress. Boushey noted signs of stable economic growth in the country.Despite revisions, the labor market still appears healthy, reflecting ongoing economic stability.
Semiconductor, hardware, and artificial intelligence-linked stocks led by Nvidia Corp (NASDAQ:NVDA) are down as the sector continues to pull back. AI stocks led by Nvidia, Advanced Micro Devices, Inc (NASDAQ:AMD), and Taiwan Semiconductor Manufacturing Co (NYSE:TSM) selloff continue their downward price trajectory as the Nvidia and Broadcom Inc (NASDAQ:AVGO) quarterly prints failed to impress the Street. Broadcom released its third-quarter earnings on Thursday. The topline grew 42% to $13.07 bil