Energy ETFs Lag As Oil Gives Up 2024 Gains
Oil prices have given up nearly all their gains for the year, weighing on energy ETFs.
Oil prices have given up nearly all their gains for the year, weighing on energy ETFs.
According to Odaily, BlackRock's Chief Investment Officer Rick Rieder has called for the Federal Reserve to lower interest rates at its September meeting. Rieder believes that a rate cut is necessary to reinvigorate economic growth and alleviate consumer debt pressures. He specifically suggested that the Federal Reserve should reduce rates by 50 basis points in September.
Separately Managed Accounts, or SMAs, offer significant advantages over ETFs for institutional investors who want to invest in crypto via actively managed accounts.
The potential for a U.S. strategic bitcoin reserve sparks debate on government control and cryptocurrency's future.
CryptoPunks leads NFT market for third straight day.
According to Odaily, former St. Louis Federal Reserve President James Bullard recently shared his insights on several pressing topics, including the US economic outlook, the Federal Reserve's rate cut trajectory, the upcoming US presidential election, and the potential for another 'Black Monday' market crash. Bullard suggested that the Federal Reserve might implement a series of 25 basis point rate cuts at consecutive meetings, potentially totaling 75 basis points by December.
According to Odaily, the U.S. Department of Labor reported on Thursday that initial jobless claims rose by 4,000 for the week ending August 17, reaching a seasonally adjusted total of 232,000. This figure slightly exceeded the expected 230,000 claims.Chris Larkin from Morgan Stanley E*Trade commented that the latest jobless claims indicate a slowing yet resilient labor market. This trend could potentially support the Federal Reserve's decision to begin lowering interest rates in September.
Ark Labs, a three-month old startup developing solutions to speed up bitcoin transactions and lower costs, has raised $2.5 million in a pre-seed funding round led by billionaire investor Tim Draper. Besides venture capital firm Draper Associates, Fulgur Ventures, Axiom Capital and angel investor Stephen Cole also participated in the round, the startup said on Thursday.
The greenback continues to see a bit of support in the USD/JPY pair, as we see a bit of stabilization at this point in time. This pair is of course the epicenter of the carry trade, and therefore people will continue to watch this market.
The provider of bitcoin and ether ETFs now offers more than 20 crypto investment products.