Dollar slips after Biden pulls out, euro rebounds after losses
- The U.S. dollar slipped lower Monday following U.S. President Joe Biden's decision to end his re-election campaign, with the euro benefiting despite its weak tone...
- The U.S. dollar slipped lower Monday following U.S. President Joe Biden's decision to end his re-election campaign, with the euro benefiting despite its weak tone...
According to Odaily, the Federal Reserve's upcoming policy meeting next week may see the removal of the term 'elevated' when describing inflation. If this change occurs, it would be the strongest indication yet that the Fed plans to cut interest rates as early as September, initiating a new easing cycle. Adjusting the description of inflation to a milder term could also lead to modifications in another key sentence of the current policy statement: the Fed will not cut rates until officials are 'more confident that inflation is moving sustainably toward 2%.'In June, 2024 FOMC voting member Raphael Bostic indirectly suggested that an inflation rate of 2.5% or below could serve as a benchmark for considering a change in the inflation description. Many economists believe that the June PCE data, set to be released on July 26, will fall to or below this threshold.
-- Most Asian currencies tread water on Monday as an unexpected interest rate cut in China offered little cheer, while the dollar crept lower after President Joe Biden...
According to Odaily, 10x Research has released a report indicating that a crypto-friendly government is likely to take office following President Biden's decision not to seek re-election. Historically, this transition often results in the resignation of the SEC Chairman when a new administration is elected. Although SEC Chairman Gary Gensler's term is set to end on June 5, 2026, the report suggests he is most likely to resign in January or February of 2025.
Welcome to the Artificial Intelligence Outlook for Forex trading. https://www.youtube.com/watch?v=CWoYKTdVZw8 VIDEO TRANSCRIPT Okay, hello everyone, and welcome back! My name is Greg Firman, and this is the Vantage Point AI ...
According to CoinDesk, President Joe Biden has announced that he will not be seeking reelection. This decision marks a significant moment in U.S. politics as it opens the field for new candidates in the upcoming presidential race. Biden, who has served as the 46th President of the United States, made this announcement today, signalling a shift in the political landscape.Biden's tenure has been marked by various challenges and achievements, including navigating the country through the COVID-19 pandemic, addressing climate change, and implementing economic recovery measures. His decision not to run for a second term will likely lead to a competitive primary season as potential candidates from both major parties prepare to campaign for the presidency.The announcement has already sparked discussions and speculations about who might emerge as the frontrunner in the next election. Political analysts are closely watching key figures within the Democratic Party, as well as potential Republican challengers, to see how this decision will influence their strategies and platforms. Biden's choice not to seek reelection may also impact his current administration's focus and priorities in the remaining time of his presidency.As the political landscape evolves, the American public and international observers will be keenly interested in the developments leading up to the next presidential election. Biden's announcement is expected to have far-reaching implications for the future of U.S. politics and governance.
According to Odaily, the U.S. Securities and Exchange Commission (SEC) has established the Interagency Securities Committee (ISC) to enhance coordination among federal, state, and local securities fraud agencies. The ISC aims to improve fraud prevention, share insights on emerging threats, and develop a unified approach to combating financial fraud. Quarterly meetings will be held to discuss trends, scams, and mitigation strategies. ISC Chairman and SEC Enforcement Division Director Gurbir S. Grewal, along with SEC Investor Advocate Cristina Martin Firvida, emphasized the benefits of multi-level cooperation. The ISC comprises over 100 agencies, providing a platform for experts and law enforcement to share information and innovative methods.
As the 2024 presidential election nears, BlackRock Head of iShares Investment Strategy Americas Kristy Akullian joins Wealth! to discuss potential volatility and the outlook for ETFs. "We hear a lot from investors that they're worried about the volatility that comes with elections. And they're worried about election results. I think the number one message that we have for investors is just the importance of staying invested. We just like to remind people that irrespective of who holds power, equity markets do what they do. And that's typically go up," Akullian says. She explains that there are areas of overlap for both parties, and points to iShares US Tech Independence Focused ETF (IETC) as an investment opportunity poised to benefit from either a Trump or Biden administration. She expects that active ETF assets under management will grow to $4 trillion by 2030, adding, "I think there's some other really interesting cohorts of funds that are things like outcome-based investing. So some of them are yield-enhancing using option strategies and overlays and things to either buffer against a downside or actually increase income in some of those as well. So I think there's a lot of flavors of active management. And that's part of the reason why we see such growth opportunity is because there's kind of something for everybody." 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
The Healthcare sector offers plenty of bargains, with a surprising number of the prominent healthcare stocks held by the Health Care Select Sector SPDR (XLV) trading at low prices. Against a market backdrop where Technology sector stocks have racked up huge gains over the past year-plus, a sector like Healthcare looks like an attractive place for investors to allocate some of their profits if the market rotates and the rally expands beyond big tech. I’m bullish on XLV based on the inexpensive va
On today's episode of Wealth! host Brad Smith breaks down key personal finance stories from the CrowdStrike (CRWD) outage to what home buyers need to know before entering the housing market. A recent CrowdStrike update caused a global outage that impacted Microsoft Windows (MSFT) systems across multiple industries. The incident has affected or even halted operations in banking, airline operators, and even emergency services around the world. Yahoo Finance tech editor Dan Howley provides a detailed analysis of the incident, shedding light on the concerns surrounding the small group of companies that are responsible for operating internet systems globally. Netflix (NFLX) reported its second-quarter earnings results and announced plans to discontinue its cheapest ad-free plan in the US and France. Citi managing director Jason Bazinet notes that Netflix's restructuring efforts are "complicated" as the company strives for profitability. However, he highlights that the ad-tier business has been "consistent with our expectations," with growth in sales, although it has been under-monetized. Meanwhile, the tech sector (XLK) is continuing to see a downturn as some investors on Wall Street are rotating out into other sectors and small-cap stocks (^RUT). EquitySet CEO Tony Zipparro comments on which areas of the market will be most sensitive to rate cuts: "That's capital-intensive industries, right? Where you've got not the greatest— where they're trying to get the profitability, right? You've got a lot of debt on the books. You really have to be cautious." Many would-be homebuyers are choosing to sit on the sidelines and instead rent for longer as housing costs remain elevated. Yahoo Finance contributor Ross Mac joins Wealth! to break down some scenarios where either buying or renting could make the most sense for you. Chase Home Lending Head of Consumer Originations Sean Grzebin believes the housing market is getting some relief, explaining, "Now that rates have been high for some period of time, we're starting to see a little easing. I think customers are becoming more comfortable listing, and we're actually seeing inventories grow for the first time in several years." 70% of employees are bracing for potential layoffs, whether by saving money or applying to new jobs, according to a survey from MarketWatch Guides. MarketWatch Guides data journalist Matt Brannon lays out one of the biggest finds in the study: "One of the big ones is that age gap. So we found that Baby Boomers feel more secure in their jobs. It makes sense. They've worked for decades building up their seniority. Whereas Gen Z workers, 88% are taking steps to prevent, a job loss trying to preempt it in some sort of way, layoff anxiety is a term that we asked about to find out just how concerned people are and a majority of Gen Z workers and nearly half of Millennials are anxious about being laid off. " This post was written by Melanie Riehl