Asia FX steadies as dollar slides after Fed cuts interest rates
-- Most Asian currencies steadied on Friday after clocking sharp gains in the prior session, while the dollar nursed some losses after the Federal Reserve cut interest...
-- Most Asian currencies steadied on Friday after clocking sharp gains in the prior session, while the dollar nursed some losses after the Federal Reserve cut interest...
The Consumer Price Index (CPI) for June showed prices decline 0.1% month-over-month. From a year ago, the index rose 3%, the lowest level in 3 years. Summer is making itself known with rising temperatures and balmy weather. What do broader inflationary trends mean for Americans' electric bills? Rachelle Akuffo breaks down which states may see significant increases in their residents' electric utility costs. Costco (COST) announced it will be hiking its membership fees for the first time since 2017. Costco's annual membership will cost $65, effective September 1. Additionally, annual fees for executive memberships in the US and Canada will increase from $120 to $130. Mahoney Asset Management CEO Ken Mahoney joined the show to share his insights on investing strategies in the current market environment as well as give insight into the tech sector and which of the Magnificent Seven need to be in focus for investors. The IRS (Internal Revenue Service) is ramping up its collection enforcement, announcing a "major milestone" of more than $1 billion collected in past-due taxes from American millionaires with over $250,000 in tax debt. According to The US Consumer Price Index (CPI) for June, food-away-from-home (FAFH) was at 4.1%, an increase of 0.4% month-over-month, with alcoholic beverages rising 0.2% month-over-month. F&B Insights VP of strategic partnerships Noah Tracht joined the show to give insight into the rise of food inflation and how its impacting consumers and the broader market. For more expert insight and the latest market action, click here. This post was written by Nicholas Jacobino
WASHINGTON (Reuters) - U.S. wholesale inventories fell more than initially thought in September amid a sharp decline in motor vehicle stocks. The Commerce Department's Census...
In a recent report, the Energy Information Administration (EIA) announced the latest figures for the Natural Gas Storage. The report measures the change in the number of cubic feet...
According to Odaily, the United States Securities and Exchange Commission (SEC) has decided to abandon its investigation into PAXOS. The regulatory body has also determined that BUSD does not fall under the category of securities. This decision marks a significant development in the ongoing discussions surrounding the classification of digital assets. The SEC's decision to halt its investigation into PAXOS and its ruling on BUSD could potentially influence future regulatory decisions regarding other digital assets. However, it is important to note that the SEC's decisions are subject to change and may not necessarily set a precedent for future cases. The regulatory landscape for digital assets remains complex and evolving, with each case being evaluated on its own merits.
In a recent economic update, Wholesale Inventories, a key indicator of the total value of goods held by wholesalers, saw a further decrease. The actual number came in at -0.2%,...
Goldman Sachs is increasingly confident that the Federal Reserve will begin cutting interest rates in September, the Wall Street firm’s economists said, citing recent comments by...
An inflation surprise has markets rethinking the timing of interest rate cuts.
WASHINGTON (Reuters) - U.S. worker productivity increased moderately in the third quarter, resulting in only a gradual slowdown in labor costs that could cast a cloud over the...
According to BlockBeats, the general inflation in the United States cooled down in June, further boosting the confidence of Federal Reserve officials that a rate cut could be imminent. Data from the US Bureau of Labor Statistics showed that the core Consumer Price Index (CPI), excluding food and energy costs, rose by 0.1% compared to May, marking the smallest increase since August 2021.Data released on Thursday showed that the index rose by 3.3% year-on-year, the lowest increase in over three years. Economists believe that the core index reflects potential inflation more accurately than the overall CPI. Due to the drag of falling gasoline prices, the overall CPI fell by 0.1% compared to the previous month and fell by 3% compared to the same period last year, marking the first decline since the outbreak of the COVID-19 pandemic.