Reported 2 months ago
Bitcoin and Ether rebounded from significant losses, with Bitcoin exceeding $56,000 and Ether rising 4.6% to over $2,500. This recovery comes after a major sell-off caused by global market uncertainties. Ether ETF investors contributed $49 million in net inflows, helping offset previous outflows from Bitcoin ETFs, which saw $168 million in outflows. Despite the gains, market sentiment remains cautious amid ongoing economic concerns.
Source: YAHOO
Reported 2 months ago
The Governor of the Reserve Bank of Australia, Michele Bullock, announced that there will be no rate cuts in the near future, stating that a restrictive policy is necessary to tackle persistent core inflation. Despite speculation of potential cuts later this year, Bullock highlighted that the board believes the current policy stance is appropriate.
Source: YAHOO
Reported 2 months ago
JPMorgan Chase & Co. indicates that the unwinding of the carry trade is only 50%-60% complete, particularly as the yen remains undervalued. According to Arindam Sandilya, co-head of global FX strategy, the recent volatility in the yen has put pressure on this investment strategy, and a full recovery to previous levels is not anticipated in the near term.
Source: YAHOO
Reported 2 months ago
Berkshire Hathaway's recent decision to halve its Apple stake has raised eyebrows following a significant drop in both companies' stock prices. Despite this move, analysts suggest that investors should not panic, as Berkshire's cash reserve of $277 billion provides ample opportunity for future investments. Warren Buffett's motivations may include tax considerations, as proposed capital gains tax hikes loom. The situation may also ease concerns about Berkshire's heavy reliance on Apple, which still makes up nearly 30% of its portfolio. Overall, analysts maintain a 'Moderate Buy' rating for Berkshire Hathaway, viewing it as a defensive investment moving forward.
Source: YAHOO
Reported 2 months ago
Asian equities rebounded sharply following significant sell-offs, with investors seizing bargain opportunities. The MSCI Asia Pacific Index rose by 4.2%, driven by a recovery in Japanese stocks and a rotation towards Chinese equities, which are viewed as appealing due to low valuations. Market sentiments indicated a cautious approach, with a focus on defensive equities and quality investments, while technology stocks remained vulnerable amid ongoing volatility.
Source: YAHOO
Reported 2 months ago
SoftBank Group is anticipated to announce a modest profit for the first quarter, but investor focus is on the potential for a significant share buyback amidst ongoing market challenges. CEO Masayoshi Son confronts calls for a $15 billion buyback, especially after the company's shares fell sharply, trading at a 60% discount to asset values. Analysts project a profit of approximately 109 billion yen, compared to a loss in the same period last year, as SoftBank rebuilds its finances following earlier setbacks.
Source: YAHOO
Reported 2 months ago
Saudi Arabia's oil giant Aramco announced half-year profits of $56.3 billion, down from the previous year, largely due to reduced crude oil sales and economic uncertainties. Despite an increase in overall revenue to $220.7 billion, the decrease in profits was impacted by dwindling refining margins and lower other incomes. Aramco plans to issue substantial dividends while facing pressures from fluctuating oil prices and global economic challenges.
Source: YAHOO
Reported 2 months ago
Saudi Aramco's second-quarter profit fell by 3.4% to 109.01 billion riyals ($29.03 billion), attributed to reduced crude output and declining refining margins. Despite the decrease, the earnings surpassed analyst expectations. The company announced dividends of $31.1 billion and indicated a total of $124.2 billion in dividends for 2024. However, lower production and crude prices have posed challenges to Saudi Arabia's finances, which reported a significant deficit for the quarter.
Source: YAHOO
Reported 2 months ago
While analysts generally predict a bullish trajectory for Nvidia (NVDA), options traders are expressing skepticism by placing bearish bets against the stock. With recent declines of over 11% and a critical earnings report approaching on August 28, the market is questioning the sustainability of Nvidia's growth narrative, reflecting a shift in institutional sentiment. This discrepancy between analysts' optimism and traders' caution has led to speculation about potential corrections, making many investors consider taking a wait-and-see approach.
Source: YAHOO
Reported 2 months ago
Japanese stocks rebounded sharply, increasing more than 9% after a significant drop that pushed them into bear market territory. The Nikkei 225 and Topix indexes saw their largest gains since October 2008, driven by a slump in the yen and strong performances from exporters. Despite this recovery, analysts suggest that market volatility may continue as concerns persist regarding the U.S. economic outlook and global market conditions.
Source: YAHOO
Reported 2 months ago
Sonova, the Swiss hearing aid manufacturer, has launched the Sphere Infinio, the first hearing aid in the world to incorporate real-time artificial intelligence for enhanced speech clarity in noisy environments. This innovative product, powered by the new DEEPSONIC chip technology, boasts over 53 times the processing power compared to existing models. The company's CEO, Arnd Kaldowski, emphasized the significance of this advancement and expressed confidence in better financial results for the second half of the fiscal year amid a challenging hearing aid market.
Source: YAHOO
Reported 2 months ago
The Norwegian salmon farming industry is facing significant challenges due to an unusually harsh winter and the El Niño climate phenomenon, which have caused record fish mortality rates and raised concerns about the impact of warmer summer temperatures. With fish mortality reaching 16.7% this year, attributed to increased jellyfish attacks and warmer waters, farmers are adopting measures like underwater cages and longer land-based rearing. Export bans on damaged fish are forcing farmers to adapt, but analysts predict difficulties in maintaining harvest volumes as salmon prices continue to slide.
Source: YAHOO
Reported 2 months ago
Donald Trump's recent announcement at a crypto convention in Nashville about his plan to create a national Bitcoin reserve has ignited discussions among crypto enthusiasts and lawmakers. Promising to retain all future U.S. government-held Bitcoin, Trump’s statement is complemented by similar proposals from other politicians, raising questions about the potential impact on the crypto market and the implications of a state-controlled Bitcoin stockpile.
Source: YAHOO
Reported 2 months ago
Recent data revealing a rise in U.S. unemployment to 4.3% and a slowdown in job creation has fueled fears of an impending recession, despite ongoing growth in GDP and a resilient services sector. The Federal Reserve's challenge lies in balancing interest rates amid cooling inflation while addressing these employment trends, which historically signal economic downturns. Analysts suggest that potential policy changes could emerge if the downturn solidifies, although the severity of a recession may be less than in previous crises.
Source: YAHOO
Reported 2 months ago
Shipments of Russian liquefied natural gas (LNG) to France have more than doubled in the first half of 2024, despite Europe's efforts to reduce energy purchases supporting Russia's invasion of Ukraine. While imports from Russia rose to nearly 4.4 billion cubic meters, France's imports from alternative suppliers dropped, raising concerns over the continent's energy transition strategy. Activists urge the EU to impose strict sanctions on Russian fossil fuels, claiming that current imports undermine efforts to end dependency on Russian energy.
Source: YAHOO
Reported 2 months ago
Despite significant investments in solar and other renewable energy sources, India's reliance on coal remains strong as the country faces soaring electricity demand. Prime Minister Modi has highlighted increased coal production, and as the population grows, coal continues to supply over 70% of India's electricity. Experts suggest that India's clean energy transition faces challenges, including inadequate battery storage and the need for substantial renewable expansion to meet future demand.
Source: YAHOO
Reported 2 months ago
Japan's recent 10-year bond auction recorded its weakest demand since 2003, highlighting turmoil in the financial markets following the central bank's interest rate hike. The auction saw a significant gap between average and lowest-accepted prices and a falling bid-to-cover ratio. This scenario coincides with a sharp plunge in yields, causing concern among investors over the outlook for debt investments.
Source: YAHOO
Reported 2 months ago
Philippine central bank Governor Eli Remolona indicated that the chance of a rate cut next week is reduced after July's inflation reached a nine-month high of 4.4%, driven by increased utility costs. This figure exceeded the central bank's target for the first time this year and overshadowed earlier forecasts. Remolona suggested that a decision on a rate cut would depend on upcoming economic growth data and prevailing inflation trends.
Source: YAHOO
Reported 2 months ago
Australia's central bank, the Reserve Bank of Australia (RBA), has held its cash rate steady at 4.35% for the sixth consecutive meeting, maintaining a 12-year high amidst inflation worries. RBA Governor Michele Bullock indicated that the bank is unlikely to consider a rate cut in the near term, citing persistent inflation risks and upgraded forecasts for both inflation and economic growth. Despite global counterparts moving towards easing rates, the RBA aims to control consumer prices while preserving employment gains, stating that core inflation remains above the target.
Source: YAHOO
Reported 2 months ago
The Reserve Bank of Australia announced it will not cut interest rates this year as inflation remains high and is expected to decrease slowly. After holding rates steady at 4.35%, RBA Governor Michele Bullock emphasized that current inflation levels are hurting everyone, and the central bank will maintain a sufficiently restrictive policy until inflation trends towards the target range of 2-3%.
Source: YAHOO
Reported 2 months ago
A powerful rally has restored confidence in global markets after a volatile period triggered by Japan's rate hike and geopolitical tensions. The Nikkei soared nearly 9%, bouncing back from its bear market plunge, while U.S. stock futures showed signs of recovery. As fears of inflation and overvalued tech earnings linger, attention shifts to crucial economic data and corporate earnings set to influence market direction.
Source: YAHOO
Reported 2 months ago
Investors are bracing for continued volatility in financial markets due to the aftershocks of a significant carry trade unwind, triggered by a surprise Bank of Japan rate hike and rising US unemployment rates. As traders exit yen-funded investments, concerns grow over the potential for further market disruption, especially among those hedge funds heavily affected by currency fluctuations. Despite some recovery in indices like the Nasdaq and S&P 500, analysts warn that large positions still need to be unwound, which could prolong the current market rout.
Source: YAHOO
Reported 2 months ago
US stock futures rose after a three-day selloff in global markets, driven by fears of an economic slowdown and tech sector valuations. The S&P 500 futures increased by 1.4%, and the Nasdaq 100 futures climbed 1.7%. This rebound follows a period of significant market declines attributed to rising US unemployment. Analysts suggest that while market corrections are natural, concerns about an economic recession are mitigated by positive data from the US services sector.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Taiwan's stock market rebounded on Tuesday, with the main index rising 3.4% after a record plunge of 8.4% on Monday. The increase was largely driven by TSMC, the world's largest contract chipmaker, which saw its shares surge 8%. Despite the recovery, investors remain cautious due to ongoing uncertainties regarding the U.S. economy and tech sector performance.
Source: YAHOO