Summary Of the Markets Today:
- The Dow closed up 244 points or 0.60%, (Closed at 41,198, New Historic high 41.222)
- Nasdaq closed down 2.77%,
- S&P 500 closed down 1.39%,
- Gold $2,464 down $4.10,
- WTI crude oil settled at $83 up $2.10,
- 10-year U.S. Treasury 4.151 down 0.016 points,
- USD index $103.76 up $0.51,
- Bitcoin $64,603 down $471 or 0.72%,
*Stock data, cryptocurrency, and commodity prices at the market closing.
Click here to read our current Economic Forecast – July 2024 Economic Forecast: One Recession Flag Removed But Little Indication The Economy Is Strengthening
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Privately-owned housing units authorized by building permits in June 2024 were 3.1% below June 2023. Privately-owned housing starts in June were 4.4% below June 2023. Privately-owned housing completions in June were 15.5% above June 2023. At first glance you would think there is something wrong with building permits and starts. However, there is a massive quantity of homes under construction – and the industry does not need to put more homes into the pipeline. The bottom line – new homes completed are growing at a good rate.
Industrial production for June 2024 rose 1.6% year-over-year with components manufacturing up 1.1% year-over-year, mining down 0.6% year-over-year, and utilities up 7.9% year-over-year. Capacity utilization moved up to 78.8 percent in June, a rate that is 0.9 percentage point below its long-run (1972–2023) average. This month’s manufacturing significant growth clearly moves manufacturing out of a recession – but I am not too optimistic that manufacturing growth spurt will continue long term.
The Beige Book for July 2024 states:
Economic activity maintained a slight to modest pace of growth in a majority of Districts this reporting cycle. However, while seven Districts reported some level of increase in activity, five noted flat or declining activity—three more than in the prior reporting period. Wages continued to grow at a modest to moderate pace in most Districts, while prices were generally reported to have risen modestly. Household spending was little changed this period according to most District banks. Auto sales varied across Districts this cycle, but some Districts noted that sales were lower due in part to a cyberattack on dealerships and high interest rates. Most Districts saw soft demand for consumer and business loans. Reports on residential and commercial real estate markets varied, but most banks reported only slight changes, if any, in recent weeks. Travel and tourism grew steadily and was on par with seasonal expectations. Agricultural conditions varied in tandem with sporadic droughts across the nation. Districts also reported widely disparate trends in manufacturing activity ranging from brisk downturn to moderate growth. Retail restocking spurred slight growth in transportation activity. Meanwhile, tight capacity in ocean shipping led to a surge in spot rates. Expectations for the future of the economy were for slower growth over the next six months due to uncertainty around the upcoming election, domestic policy, geopolitical conflict, and inflation.
Labor Markets
On balance, employment rose at a slight pace in the most recent reporting period. Most Districts reported employment was flat or up slightly, while a few Districts reported modest employment growth. Several Districts reported declines in employment in the manufacturing sector due to slowdowns in new orders. Skilled-worker availability remained a challenge across all Districts; however, several Districts reported some improvement in labor supply conditions. Additionally, labor turnover was lower, which reduced demand to find new workers. Looking ahead, contacts in several Districts expect to be more selective on who they hire and not backfill all open positions. Wages grew at a modest to moderate pace in most Districts. However, several Districts reported some slowing of wage growth due to increased worker availability and less competition for workers.
Prices
Prices increased at a modest pace overall, with a couple Districts noting only slight increases. While consumer spending was generally reported as showing little to no change almost every District mentioned retailers discounting items or price-sensitive consumers only purchasing essentials, trading down in quality, buying fewer items, or shopping around for the best deals. Most Districts noted that input costs were beginning to stabilize; however, Atlanta specifically noted products like copper and electrical supplies have seen a notable increase over this period.
The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve Districts. It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, gathered directly from each District’s sources. This months release shows a very modest deterioration from the previous report which agrees with our economic forecast which shows little change in economic conditions.
Here is a summary of headlines we are reading today:
- The EU Is Facing a Looming Gas Supply Crisis
- UAE Considering Building A Second Nuclear Power Plant
- Aluminum Prices Face Downward Pressure as Tariffs Influence Market Trends
- Oil Extends Gains As EIA Confirms Crude Draw, Rising Fuel Inventories
- Greece to Impose One-Off Windfall Tax on Gas Power Producers
- Nasdaq posts worst day since 2022, Dow gains 200 points as investors rotate out of tech: Live updates
- Fed Governor Waller sees central bank ‘getting closer’ to an interest rate cut
- Crypto-friendly VC investors plan donations to pro-Trump super PAC: CNBC Crypto World
- Pound hits highest level against dollar for a year
- 2-year Treasury yield falls for fifth session amid signs Fed may be moving closer to cutting rates
- Five of 12 Fed districts report flat or declining economic activity, Beige Book finds
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.
The Market in Perspective
| Here are the headlines moving the markets. | |
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Rio Tinto’s Multi-Billion-Dollar Lithium Mine Back on Track in SerbiaSerbia’s government has reinstated a spatial plan for a multibillion-dollar lithium mine and processing plant, days after the Balkan state’s Constitutional Court said a previous government acted improperly to halt the project amid public protests. Anglo-Australian metals and mining giant Rio Tinto’s plans for a sprawling 250-hectare complex to exploit huge mineral deposits in a fertile western valley have pitted environmental and other local opponents of the so-called Jadar project against President Aleksandar Vucic and his ruling allies… Read more at: https://oilprice.com/Metals/Commodities/Rio-Tintos-Multi-Billion-Dollar-Lithium-Mine-Back-on-Track-in-Serbia.html |
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The EU Is Facing a Looming Gas Supply CrisisThe European Union (EU) targets a ban on Russian fuel imports by 2027. However, nearly half of Russia’s pipeline gas supplies to Europe and Moldova are still passing through Ukraine, totaling 13.7 billion cubic meters (Bcm) in 2023. As the EU discusses the possibility of involving Azerbaijan in a future transit deal, the current five-year gas transit agreement between Russia and Ukraine is set to expire by the end of 2024, leading to concerns about the future flow of these gas volumes. Rystad Energy predicts that Russia’s gas will need to be rerouted… Read more at: https://oilprice.com/Energy/Energy-General/The-EU-Is-Facing-a-Looming-Gas-Supply-Crisis.html |
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US Eases Some Venezuela Sanctions, But Not For PdVSAThe United States Office of Foreign Assets Control (OFAC) has eased some sanctions on Venezuela but retained sanctions on PdVSA. OFAC has issued a new license allowing certain transactions related to the export or re-export of liquefied petroleum gas (LPG) to Venezuela until July 8, 2025. However, transactions with Petróleos de Venezuela, S.A., the Venezuelan state-owned oil and natural gas company in which PdVSA has a 50 percent or greater interest, remain prohibited under the sanctions imposed by various executive orders. The… Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Eases-Some-Venezuela-Sanctions-But-Not-For-PdVSA.html |
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UAE Considering Building A Second Nuclear Power PlantThe United Arab Emirates is considering building a second nuclear power plant to meet surging electricity demand, a government official has told Reuters. Home to 10 million people, the UAE commissioned the first unit of the Barakah Nuclear Energy Plant in 2020, becoming the first Arab country to build a nuclear power plant. The UAE completed the fourth unit of the power plant in 2023 with total construction costs approaching $25 billion. The final reactor of the UAE’s only nuclear plant is set to start commercial… Read more at: https://oilprice.com/Latest-Energy-News/World-News/UAE-Considering-Building-A-Second-Nuclear-Power-Plant.html |
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Aluminum Prices Face Downward Pressure as Tariffs Influence Market TrendsVia Metal Miner Overall, the Aluminum Monthly Metals Index (MMI) retraced, with a 4.67% decline from June to July. Aluminum prices continued to decline before finding a bottom in mid-June at their lowest level since mid-April. Overall, this reflected a 6.86% drop from June to July. Prices began to move sideways in mid-June, although the bias remains to the downside. U.S. Applies 10% on Certain Mexican Aluminum Imports In a bid to curb Chinese dumping efforts, the White House announced tariffs on certain Mexican aluminum imports on July 10. The… Read more at: https://oilprice.com/Metals/Commodities/Aluminum-Prices-Face-Downward-Pressure-as-Tariffs-Influence-Market-Trends.html |
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Container Ship Backlogs and Soaring Rates Drive Supply Chain Congestion ConcernsGoldman’s Jordan Alliger released his latest supply chain congestion note on Monday, informing clients that for the first time in 1.5 years, the supply chain congestion index is on the verge of rising from two to three, with ten being the most congested. This resurgence in snarled supply chains is driven mainly by increasing container ship backlogs and soaring ocean container shipping rates. “While our weekly bottleneck scale remained slightly below the level of ‘3’ this week as the overall scale remained unchanged at ‘2’, the absolute level… Read more at: https://oilprice.com/Energy/Energy-General/Container-Ship-Backlogs-and-Soaring-Rates-Drive-Supply-Chain-Congestion-Concerns.html |
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Oil and Gas Exports Are Increasingly Important for Canada’s EconomyCanada’s oil and gas industry has seen its share of the country’s merchandise exports jump over the past two decades, and energy is now a crucial contributor to Canadian trade and economy. While the federal government is looking to reduce greenhouse gas emissions by a proposed cap on emissions from oil and gas and additional carbon taxes, facts and figures of the past decade show that energy exports are now nearly a quarter of the value of Canada’s total exports. This will likely continue to be the case in the foreseeable… Read more at: https://oilprice.com/Energy/Energy-General/Oil-and-Gas-Exports-Are-Increasingly-Important-for-Canadas-Economy.html |
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Oil Extends Gains As EIA Confirms Crude Draw, Rising Fuel InventoriesCrude oil prices went higher today, after the U.S. Energy Information Administration reported an inventory draw of 4.9 million barrels for the week to July 12. This was on top of the draw of 3.4 million barrels for the previous week. This was largely in line with the estimates provided by the American Petroleum Institute, which reported on Tuesday an inventory draw of 4.44 million barrels for the week to July 12 in the throes of the high-demand season. Crude oil inventories in the United States are now roughly… Read more at: https://oilprice.com/Energy/Energy-General/Oil-Extends-Gains-As-EIA-Confirms-Crude-Draw-Rising-Fuel-Inventories.html |
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Thai Tycoon to Create $20 Billion Firm With Energy and Telecoms MergerThai billionaire entrepreneur Sarath Ratanavadi plans to merge his energy and telecoms companies in a new firm, which will be worth around $20.5 billion. Ratanavadi, with a net worth of $10.8 billion as of July 17, owns Gulf Energy Development, one of Thailand’s largest power producers by installed capacity. The businessman, number 5 on Forbes’ list of Thailand’s richest persons and number 200 on the Forbes Billionaires list, also owns Intouch Holdings, the conglomerate that owns Thailand’s most valuable mobile phone… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Thai-Tycoon-to-Create-20-Billion-Firm-With-Energy-and-Telecoms-Merger.html |
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Russian Oil Supply to Hungary Halted Due to Ukraine Sanctions on LukoilDespite the fact that EU pipeline crude imports from Russia are not banned by the embargo, Russia is not delivering crude oil to Hungary at present after Ukraine imposed stricter sanctions on Russian oil giant Lukoil, effectively banning it from using Ukraine as a transit for oil exports. Lukoil was supplying Hungary with crude via the southern leg of the Druzhba oil pipeline which crosses Ukraine. With the toughened sanctions Kyiv imposed on Lukoil in June, Russian oil does not reach Hungary now. However, Hungary – whose Prime Minister… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russian-Oil-Supply-to-Hungary-Halted-Due-to-Ukraine-Sanctions-on-Lukoil.html |
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Was President Trump Responsible for Lower Gas Prices?No energy topic elicits as much interest as gas prices. The three most popular articles I have ever written — one with more than a million views — were about gas prices. Most search phrases driving readers to my articles contain “gas prices.” What readers seem to be most interested in knowing is whether Donald Trump reduced gasoline prices when he was president. There is a widespread perception that Trump inherited high gasoline prices, and promptly reduced them to $2.00/gallon. I encounter this sentiment frequently. Let’s… Read more at: https://oilprice.com/Energy/Energy-General/Was-President-Trump-Responsible-for-Lower-Gas-Prices.html |
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Greece to Impose One-Off Windfall Tax on Gas Power ProducersGreece plans to tax its natural gas-fired power producers with a one-off windfall tax in August and September to raise funds to subsidize electricity bills as wholesale power prices spiked this summer. Power demand in Greece has soared amid heat waves in recent weeks, leading to a jump in wholesale electricity prices, which have been weighing on consumer bills. Due to the interconnected power grids in countries in Europe, rising power demand in neighboring countries has also lifted wholesale prices in Greece. “Therefore the government has… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Greece-to-Impose-One-Off-Windfall-Tax-on-Gas-Power-Producers.html |
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Growth in Fusion Energy Investments Slows for a Second YearInvestments in fusion energy efforts globally increased for yet another year, but the growth was slower than in the previous two years as many companies in the industry expect funding to be a major challenge in the medium term, the Fusion Industry Association (FIA) said in its annual report. The fourth annual “Global Fusion Industry Report” showed that $900 million of new funds backed the technology promising zero-emission energy since last year. However, the increase in investments was lower than the 2023 estimated jump of $1.4… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Growth-in-Fusion-Energy-Investments-Slows-for-a-Second-Year.html |
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Trump Vows to Boost U.S. Oil Production if Elected PresidentDonald Trump has pledged to ramp up U.S. domestic oil production and undo some regulations to make that happen, the Republican presidential candidate told Bloomberg Businessweek in an exclusive interview published on Wednesday. The interview with the former U.S. president took place at Mar-a-Lago in late June, two days before the first presidential debate and two weeks prior to the assassination attempt on Trump this weekend. In a wide-ranging interview on many domestic and global issues, Trump said that energy costs will need to go down… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Trump-Vows-to-Boost-US-Oil-Production-if-Elected-President.html |
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EU Split on Chinese EV TariffsThe European Union member states are split on the provisional EU tariffs on imports of Chinese electric vehicles, as many governments seek to avoid a trade war with China and protect the profits of their biggest auto manufacturers. In a non-binding vote on Tuesday, a dozen EU member states voted in favor of the tariffs – which took effect in a provisional form earlier this month – but four voted against the levies and 11 EU governments abstained, a source familiar with the vote told Reuters. While the vote wasn’t binding,… Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-Split-on-Chinese-EV-Tariffs.html |
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Nasdaq posts worst day since 2022, Dow gains 200 points as investors rotate out of tech: Live updatesThe Nasdaq Composite lost more than 2% as the tech trade remained under pressure. Read more at: https://www.cnbc.com/2024/07/16/stock-market-today-live-updates.html |
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Global chip stocks from Nvidia to ASML fall on geopolitics, Trump commentsGlobal chip stocks fell sharply with ASML, Nvidia and TSMC hit amid reports of tighter export restrictions from the U.S. and comments from Donald Trump. Read more at: https://www.cnbc.com/2024/07/17/global-chip-stocks-from-nvidia-to-asml-fall-as-geopolitics-trump-weigh.html |
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Fed Governor Waller sees central bank ‘getting closer’ to an interest rate cutCentral bankers have become more optimistic from data that has shown inflation easing. Read more at: https://www.cnbc.com/2024/07/17/fed-governor-waller-sees-central-bank-getting-closer-to-an-interest-rate-cut.html |
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Trump shooting: Secret Service changes story on local SWAT team positionSecret Service director Kimberly Cheatle originally said a local SWAT team was in a building whose roof was used by Thomas Crooks in shooting at Donald Trump. Read more at: https://www.cnbc.com/2024/07/17/trump-shooting-secret-service-swat.html |
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This ‘steadfast’ muni bond fund strives for long-term outperformance. Here’s where it is investingThe Fidelity Intermediate Municipal Income Fund has a tax-equivalent yield of 5.54%. Read more at: https://www.cnbc.com/2024/07/17/this-steadfast-muni-bond-fund-strives-for-long-term-outperformance.html |
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Here’s where 2024 vice presidential picks stand on Social Security as program faces funding shortfallAs Social Security’s trust funds face nearing depletion dates, here’s what the vice presidential picks for 2024 have said about the program’s future. Read more at: https://www.cnbc.com/2024/07/17/harris-vance-what-2024-vp-picks-could-mean-for-social-security.html |
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Special counsel Jack Smith appeals dismissal of Trump classified documents caseJudge Aileen Cannon has ruled that the appointment of special counsel Jack Smith to prosecute Donald Trump violated the U.S. Constitution. Read more at: https://www.cnbc.com/2024/07/17/special-counsel-jack-smith-appeals-dismissal-of-trump-classified-documents-case.html |
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Crypto-friendly VC investors plan donations to pro-Trump super PAC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Paul Brody, EY’s global blockchain leader, discusses what a potential imminent approval of spot ether ETFs means for the Ethereum network and the crypto industry. Read more at: https://www.cnbc.com/video/2024/07/17/crypto-friendly-vc-investors-plan-donations-to-pro-trump-super-pac-cnbc-crypto-world.html |
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Investors to decide if the one-week rotation into small caps can last all summerMoney has been moving mostly out of tech for more than a week and into small cap and value stocks, which are often industrials, materials and some financials. Read more at: https://www.cnbc.com/2024/07/17/-investors-to-decide-if-the-one-week-rotation-into-small-caps-can-last.html |
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Willow Bay, Bob Iger to take controlling stake in NWSL’s Angel City FC at a $250 million valuationLast year, Angel City FC generated the highest revenue of any women’s team in the world. It was also No. 1 in NWSL attendance and sponsorship revenue. Read more at: https://www.cnbc.com/2024/07/17/nwsl-angel-city-fc-willow-bay-bob-iger-controlling-stake.html |
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Rep. Adam Schiff calls on Biden to drop out of election contest, warns of losing CongressRep. Adam Schiff is one of the most prominent Democrats to urge President Joe Biden to let another nominee face Donald Trump in the presidential election. Read more at: https://www.cnbc.com/2024/07/17/rep-adam-schiff-calls-on-biden-to-drop-out-of-election-contest-warns-of-losing-congress.html |
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Biden says he might quit presidential race if ‘medical condition’ emergedBiden, 81, has come under increasing pressure from members of his own party to withdraw from the race following his disastrous debate with Trump, 78. Read more at: https://www.cnbc.com/2024/07/17/biden-presidential-race-medical-condition.html |
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DNC says Biden nomination won’t be fast-tracked, buys time for skepticsHouse Democrats called off a draft letter that would have urged the DNC to cancel its early voting timeline for nominating President Joe Biden. Read more at: https://www.cnbc.com/2024/07/17/biden-dnc-nomination-election.html |
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Ex-Comedian Zelenskyy Claims Veteran JD Vance Doesn’t Understand WarAuthored by Luis Cornelio via Headline USA, In a resurfaced video, Ukrainian President Volodymyr Zelenskyy voiced cynical remarks against JD Vance, President Donald Trump’s running mate and staunch America First supporter.
AP Photo: Ukrainian President Volodymyr Zelenskyy. Zelenskyy, a former comedian who rose to power in 2019, said that Vance, a Marine veteran, seemed clueless about the ongoing war between Ukraine and Russia. “I’m not sure he understands what’s going on here and we don’t any rhetoric from people who are not deeply in the war,” Zelenskyy said in a CNN Read more at: https://www.zerohedge.com/geopolitical/ex-comedian-zelenskyy-claims-veteran-jd-vance-doesnt-understand-war |
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Biden Went On Unhinged Rant During Call To Discuss His Viability: ReportHours before Donald Trump was shot by a would-be assassin on Saturday, President Joe Biden became absolutely unhinged during a Zoom call with Democrats to discuss whether he should abandon his bid for reelection.
According to Puck News,
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Medicare’s Real Contribution: Hollowing Out HealthcareBy Peter Earle of the American Institute for Economic Research As high inflation enters its third year and disinflation slowed, the impact of broad price increases are seeping into increasingly far flung areas. They are seen and felt not only in the prices of capital, producer, and consumer goods, and in the prices of securities and commodities, but also in goods and services procured through the government.
In some, adjustments have been made. The most recent Cost-of-Living Adjustment (COLA) for Social Security benefits was a 3.2-percent increase. That adjustment affects more than 66 million Social Security beneficiaries and around 7.5 million recipients of Supplemental Security Income (SSI), whose increased payments began on December 29, 2023. Medicare Part D, and particularly the Read more at: https://www.zerohedge.com/markets/medicares-real-contribution-hollowing-out-healthcare |
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Nantucket Beaches Closed After Wind Turbine Blade Fail Scatters “Fiberglass Shards”Nantucket residents are watching their pristine beaches transform into “waste dumps” filled with floating debris and sharp fiberglass shards. This prompted officials to close beaches this week after a massive offshore wind turbine experienced a catastrophic failure.
Local paper Nantucket Current reports debris from a broken Vineyard Wind turbine blade washed ashore across southern Nantucket beaches, stretching from Madaket out to Nobadeer, on Tuesday. “The water is closed to swimming on all south shore beaches, due to large floating debris and sharp fiberglass shards,” Nantucket Harbormaster Sheila Lucey said, adding, “You can walk on the beaches, however we strongly recommend you wear footwear due to sharp, fiberglass shards and debris on the beaches.” Late Tuesday, the Bureau of Safety and Environmental Enforcement said Vineyard Wind’s offshore “oper … Read more at: https://www.zerohedge.com/markets/nantucket-beaches-closed-after-massive-wind-turbine-blade-fail-scatters-fiberglass-shards |
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Pound hits highest level against dollar for a yearPound highest against dollar in a year as investors bet on UK rates staying higher for longer. Read more at: https://www.bbc.com/news/articles/c80e9k4wegno |
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Labour’s plans are not a quick fix for UK economyIt will take well into next year before we see any impact on economic growth from these plans. Read more at: https://www.bbc.com/news/articles/c978n5ln7g3o |
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Ex-Post Office minister says she felt utter shame over scandalKelly Tolhurst told the Post Office inquiry there were “lots of things I would I wish I had done”. Read more at: https://www.bbc.com/news/articles/c0xje1jqq71o |
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How to trade Chennai Petroleum, Godrej Properties & LIC on ThursdayThe Indian market closed flat on Tuesday with a positive bias. The S&P BSE Sensex closed above 80,700 levels while the Nifty50 held onto 24,600. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/technical-breakout-stocks-how-to-trade-chennai-petroleum-corporation-godrej-properties-and-lic-on-thursday/market-wrap/slideshow/111808578.cms |
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Sebi mulls over raising F&O contract value from Rs 5 lakh to Rs 25 lakh: ReportA committee formed by the markets regulator to examine the futures and options segment has made preliminary recommendations aimed at reducing speculative trading. These recommendations, including the proposed agenda, are part of an effort to enhance stability and fairness in the derivatives market. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/sebi-mulls-over-raising-fo-contract-value-from-rs-5-lakh-to-rs-25-lakh-report/articleshow/111814087.cms |
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8 stocks, each an MF’s sole pick in June, rise upto 120% in CY24ETMarkets’ latest mutual fund analysis focuses on stocks held exclusively by a single scheme. Initially, the analysis came up with 137 such stocks as of June 2024. To streamline our approach, we focused on stocks where the market value of the mutual fund scheme exceeded Rs 25 crore as of June and which had seen share price increase ranging from 30% to 100% in the calendar year 2024 to date. Applying these criteria, a total of eight stocks met these specific conditions. (Data Source: ACE Equity, ACE MF) Read more at: https://economictimes.indiatimes.com/markets/stocks/news/unique-stocks-8-counters-held-by-only-one-mf-scheme-in-june-surged-upto-120-in-cy24/fund-favorites/slideshow/111808040.cms |
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Here’s what could really supercharge the bitcoin rally (hint: it’s not just Trump’s speech)A weekly look at the most important news and moves in crypto, and what’s on the horizon in digital assets. Read more at: https://www.marketwatch.com/story/heres-what-could-really-supercharge-the-bitcoin-rally-hint-its-not-just-trumps-speech-205c5762?mod=mw_rss_topstories |
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2-year Treasury yield falls for fifth session amid signs Fed may be moving closer to cutting ratesYields on U.S. government debt finished slightly lower on Wednesday, with the policy-sensitive 2-year rate settling at a five-month closing low again, after a pair of Federal Reserve officials suggested the time to cut interest rates may be approaching. Read more at: https://www.marketwatch.com/story/treasury-yields-mixed-as-traders-await-more-clues-on-fed-policy-e0056af2?mod=mw_rss_topstories |
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Five of 12 Fed districts report flat or declining economic activity, Beige Book findsU.S. economic activity seemed to soften in the past two months, with five of the 12 Federal Reserve regions reporting flat or declining activity, a Fed survey released Wednesday found. Read more at: https://www.marketwatch.com/story/5-of-12-fed-districts-report-flat-or-declining-economic-activity-feds-beige-book-finds-daf7ab68?mod=mw_rss_topstories |
