Dollar edges higher; inflation data and political debate loom
- The U.S. dollar drifted higher Tuesday, with the safe haven benefiting from weakness on Wall Street, although gains are limited ahead of the release of key...
- The U.S. dollar drifted higher Tuesday, with the safe haven benefiting from weakness on Wall Street, although gains are limited ahead of the release of key...
NEW YORK, June 25, 2024--InfraCap announces dividend increase for Small Cap Income ETF (NYSE Arca: SCAP). Monthly distribution for June increased from $0.175 to $0.180.
-- The Chinese yuan softened on Tuesday, with the main USDCNY dollar pair hitting a seven-month high after a weak midpoint fix by the People’s Bank, while concerns...
-- Most Asian currencies firmed slightly on Tuesday as a recent rally in the dollar cooled, with the Japanese yen gaining some ground amid speculation over government...
According to Odaily, the Bitcoin mining industry in Paraguay has responded to the National Electricity Administration's (ANDE) involvement in shutting down several illegal Bitcoin mines. Bruno Vaccotti, the public affairs director of Bitcoin mining company Penguin, revealed the existence of three 'vulture contracts' that have slowed the development of Bitcoin mining operations in Paraguay. In a radio interview, Vaccotti admitted that illegal mining activities have damaged ANDE's revenue. However, he criticized the agency's statements about Bitcoin mining activities. He stated that Penguin pays $850,000 in electricity bills each month, which is almost 50% of the $2 million loss claimed by ANDE due to illegal cryptocurrency mining. The 'vulture contracts' are agreements signed by ANDE with other undisclosed Bitcoin mining third parties. These contracts have affected the power supply for new mines and caused losses to the country. Vaccotti said that these contracts, which involve a large amount of energy, are usually signed by foreign investors seeking speculation. The energy allocated to these parties is prevented from being used for these operations, thereby damaging the potential for real Bitcoin mining investors to utilize the involved energy. Vaccotti emphasized that this could have a greater impact than the illegal activities ANDE is investigating.
The Nasdaq Composite (^IXIC) fell by over 190 points — or almost 1.10% — in Monday's trading, as the Dow Jones Industrial Average (^DJI) leaped ahead 260 points in the session. Nvidia (NVDA) continued to fall for its third session in a row, bringing the S&P 500 (^GSPC) dow along with it. In this episode of Market Domination Overtime, Hosts Julie Hyman and Josh Lipton speak with Invesco Global Market Strategist Brian Levitt about how the market can keep rallying despite Nvidia's downturn. Arm Holdings (ARM) was added to the Nasdaq 100 (^NDX) on Monday as shares are up nearly 140% since its public debut in September 2023. Arm CEO Rene Haas joins the show to discuss this milestone and the British semiconductor company's outlook. For more expert insight and the latest market action, click here. This post was written by Nicholas Jacobino.
The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) fell from their record highs seen last week as Nvidia (NVDA) sank for its third session in a row, losing over 6% for the day. With Nvidia and other tech giants, holding much of the weight of the S&P, what does this mean for the future of the index? Yahoo Finance Markets Reporter Josh Schafer joins Market Domination Overtime to break down the top market takeaways for the trading day on June 24. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
-- Gold prices fell in Asian trade on Tuesday, sticking to a tight trading range in the low $2,300s as recent strength in the dollar and anticipation of key inflation data kept traders averse to the yellow metal.
Donald Trump seems to have doubled down on digital assets after he was convicted of 34 felony counts in New York.
A federal judge in Florida recognized the HYDRO token as an investment contract qualifying as a security under SEC guidelines.