Summary Of the Markets Today:
- The Dow closed up 294 points or 0.76%,
- Nasdaq closed up 1.03%,
- S&P 500 closed up 1.04%,
- Gold $2,429 down $15.80,
- WTI crude oil settled at $73 up $0.15,
- 10-year U.S. Treasury 3.866 up 0.104 points,
- USD index $102.93 up $0.240,
- Bitcoin $56,460 up $2,417 or 4.47%,
*Stock data, cryptocurrency, and commodity prices at the market closing.
Today’s Highlights:
US stocks rebounded on Tuesday after a three-day decline that significantly impacted market gains for 2024. The S&P 500 and Nasdaq Composite each rose approximately 1%, while the Dow Jones Industrial Average increased by about 0.8%, translating to roughly 300 points. The previous day marked a severe downturn, with the S&P 500 experiencing its worst day since 2022, driven by concerns regarding the US economy and labor market. This decline resulted in a loss of around 6% over the past three sessions. However, the rally on Tuesday helped restore year-to-date gains to about 10%. Investor sentiment improved as the CBOE Volatility Index, which had surged to its highest levels since early COVID-19 days, decreased significantly. Major tech stocks also saw a recovery, with Nvidia rising over 3% and other notable companies like Tesla, Microsoft, and Meta all gaining more than 1%. Cryptocurrencies followed suit. The market’s recovery was also reflected in global indices, such as Japan’s Nikkei, which closed up over 10%. Looking ahead, the Federal Reserve’s potential actions remain a focal point for investors, with expectations growing for a 50-basis-point rate cut at the next meeting, as three-quarters of traders anticipate this move.
Click here to read our current Economic Forecast – August 2024 Economic Forecast: New Recession Flag
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Imports into the U.S. grew from 5.0% last month to 5.8% year-over-year in June 2024. Exports grew from 3.9% year-over-year to 5.2% year-over-year. The trade deficit declined from 13.5% last month to 12.8% in June. I was expecting an increase in the trade deficit but evidently civilian aircraft exports jumped and explains the entire monetary increase in exports.
Home prices nationwide, including distressed sales, increased year over year by 4.7% in June 2024 compared with June 2023. On a month-over-month basis, home prices grew by 0.3% in June 2024 compared with May 2024.
The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit for Q2 2024, revealing a $109 billion (0.6%) increase in total household debt, bringing it to $17.80 trillion. Key findings include:
- Mortgage Debt: Increased by $77 billion to $12.52 trillion.
- Home Equity Lines of Credit (HELOC): Rose by $4 billion to $380 billion, marking the ninth consecutive quarterly increase since Q1 2022.
- Credit Card Debt: Grew by $27 billion to a record $1.14 trillion.
- Auto Loan Debt: Increased by $10 billion to $1.63 trillion.
- Other Debts: Including retail cards and other consumer loans, saw a $1 billion increase to $544 billion.
The report also noted that mortgage originations remained low due to subdued refinancing activity, with homeowners increasingly turning to HELOCs to extract home equity. Mortgage originations were steady at $374 billion, consistent with the pace of the previous four quarters. Aggregate delinquency rates remained unchanged at 3.2%, although there were slight increases in delinquency transition rates for credit cards, auto loans, and mortgages.
Here is a summary of headlines we are reading today:
- Is Rolls-Royce Still a Buy After 600% Rise?
- U.S. Troops Wounded in Rocket Attack on Iraqi Airbase
- U.S. To Purchase More Oil for SPR While Prices Are Low
- High Power Demand Boosts Duke Energy’s Q2 Profit
- Goldman Sachs Sees a $75 Floor for Brent Oil Prices
- U.S. Administration to Allocate $2.2 Billion for Power Grid Upgrades
- Dow closes nearly 300 points higher to snap three-day losing run in broad relief rally: Live updates
- Markets are counting on the Fed to head off recession with sizeable interest rate cuts
- Elon Musk will interview Trump on Monday night, Republican presidential nominee says
- Now is the time to ‘buy things on sale’ in the stock market, advisor says. Here’s what to know
- US stock markets rise after days of turmoil
- Treasury yields jump by most in over a month as market anxiety eases
- As inflation bites, parents are borrowing more than ever to pay for college
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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Is Rolls-Royce Still a Buy After 600% Rise?In the midst of the pandemic, investors would have baulked if you’d said the Rolls-Royce share price would become one of the hottest stocks in the FTSE 100 within a few years. The company endured years of turmoil prior to the arrival of Tufan Erginbilgic, including a brush with bankruptcy and a £671m fine stemming from investigations into whether it had paid bribes to secure contracts. But since he took the top job just over a year and a half ago, the turnaround has been nothing short of remarkable. The Turkish businessman, known affectionately… Read more at: https://oilprice.com/Finance/investing-and-trading-reports/Is-Rolls-Royce-Still-a-Buy-After-600-Rise.html |
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EIA Raises 2024 Forecast For U.S. Crude Oil DemandThe U.S. Energy Information Administration (EIA) has raised its forecast for crude oil demand in the United States, according to the agency’s Short-Term Energy Outlook released today—although its price outlook for this year and next has been revised down. The EIA now sees U.S. petroleum and other liquid fuels consumption averaging 20.5 million barrels per day in 2024—that’s up from the agency’s forecast in July of 20.4 million bpd. Globally, the EIA left its total world consumption of crude oil and liquid… Read more at: https://oilprice.com/Latest-Energy-News/World-News/EIA-Raises-2024-Forecast-For-US-Crude-Oil-Demand.html |
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Is the AI Boom Pushing Mid-Atlantic Power Infrastructure to the Brink?Marylanders and residents in surrounding states should brace for rising power bills due to capacity constraints on the regional power grid and the increasing peak load from new AI data centers (read: here). This combination creates a perfect storm of continued utility bill inflation, which will only pressure cash-strapped households in the years ahead. On Friday, Goldman published a note about Tuesday’s PJM Interconnection power capacity auction for the 2025-26 planning year (June 1st, 2025, to May 31st, 2026). The note revealed a massive… Read more at: https://oilprice.com/Energy/Energy-General/Is-the-AI-Boom-Pushing-Mid-Atlantic-Power-Infrastructure-to-the-Brink.html |
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U.S. Troops Wounded in Rocket Attack on Iraqi AirbaseAt least five U.S. military personnel were wounded in a rocket attack on an airbase in western Iraq on Monday, anonymous U.S. officials told Reuters, as tensions in the Middle East continue to escalate and the region is braced for a possible Iranian retaliation for Israel killing a Hamas leader on Iranian soil last week. Two Katyusha rockets targeted Al Asad airbase in western Iraq, and one of them fell inside the base, an Iraqi security source told Reuters. One of the wounded U.S. personnel is in serious condition, the… Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Troops-Wounded-in-Rocket-Attack-on-Iraqi-Airbase.html |
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U.S. To Purchase More Oil for SPR While Prices Are LowThe U.S. Department of Energy (DOE) is continuing its efforts to bolster the depleted Strategic Petroleum Reserve (SPR) with new oil purchases. Today, DOE’s Office of Petroleum Reserves announced a call for bids to supply up to 1.5 million barrels of oil to the Bayou Choctaw site in January 2025. An additional solicitation will follow on August 12, 2024, for another 2 million barrels destined for the Bryan Mound site, also for delivery in January 2025. This move is part of a strategic plan to replenish the SPR while taking advantage of favorable… Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-To-Purchase-More-Oil-for-SPR-While-Prices-Are-Low.html |
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Is the Oil Price Collapse Finally Over?Oil prices have been tumbling in recent weeks, but there are signs that they may have hit their bottom, with glints of bullish sentiment and Goldman Sachs saying it doesn’t expect Brent to fall below $75. Beaten But Not Broken, Commodities Need to Regain Trust of Investors – Hedge funds and other money managers turned bearish on commodity futures for the first time since 2016 as fears of economic slowdown dent investors’ trust that there is a bright future for raw materials over the next months. – After eight years of consecutive bullishness,… Read more at: https://oilprice.com/Energy/Energy-General/Is-the-Oil-Price-Collapse-Finally-Over.html |
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High Power Demand Boosts Duke Energy’s Q2 ProfitU.S. utility giant Duke Energy (NYSE: DUK) beat analyst estimates as higher sales volumes and increased rates boosted its revenues for the second quarter. Duke Energy reported on Tuesday adjusted earnings per share (EPS) of $1.18 for the second quarter of 2024. This is higher than the adjusted EPS of $0.91 for the second quarter of 2023, and higher than the $1.02 analyst consensus estimate, too. Higher second-quarter 2024 adjusted results were driven by growth from rate increases and riders, higher sales volumes, and improved weather, which… Read more at: https://oilprice.com/Latest-Energy-News/World-News/High-Power-Demand-Boosts-Duke-Energys-Q2-Profit.html |
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How Venezuela’s Election Unrest Will Impact Global Oil MarketsLast week, Venezuela’s sitting President Nicolás Maduro was declared the winner of the country’s presidential vote, plunging the country into widespread protests amid glaring election irregularities. The 61-year-old Maduro beat the elderly opposition candidate, 74-year-old Mr González Urrutia, despite exit polls showing the latter garnering 65% of the vote. The relatively unknown González was selected as a last-minute stand-in for opposition powerhouse Maria Corina Machado, who was blocked by the Maduro-controlled… Read more at: https://oilprice.com/Energy/Energy-General/How-Venezuelas-Election-Unrest-Will-Impact-Global-Oil-Markets.html |
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Goldman Sachs Sees a $75 Floor for Brent Oil PricesGoldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which sparked a massive selloff in equity markets globally and in risk assets, including crude oil. Early on Tuesday, Brent Crude prices were down by 0.43% on the day to $75.96 as of 8:37 a.m. EDT, following two consecutive daily declines on Friday and Monday. Recession… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Sees-a-75-Floor-for-Brent-Oil-Prices.html |
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Saudi Aramco Sees Oil Demand Rising by 1.6 Million Bpd in Second Half of 2024Global oil demand is expected to rise by between 1.6 million and 2 million barrels per day (bpd) in the second half of the year, Saudi Aramco’s chief executive Amin Nasser said on Tuesday, noting that the past week’s selloff in oil doesn’t reflect fundamentals. Aramco sees total global oil demand at 104.7 million bpd for the full-year 2024, the top executive of the world’s largest oil company said on the second-quarter earnings call. Some analysts expect global oil demand to rise to above 106 million bpd in the second half… Read more at: https://oilprice.com/Energy/Energy-General/Saudi-Aramco-Sees-Oil-Demand-Rising-by-16-Million-Bpd-in-Second-Half-of-2024.html |
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Marathon Petroleum Q2 Earnings Top EstimatesMarathon Petroleum (NYSE: MPC) booked higher-than-expected earnings for the second quarter amid higher processing volumes that partly offset weak refining margins. The U.S. refining giant reported on Tuesday an adjusted net income of $1.4 billion, or $4.12 per diluted share, for the second quarter. This beat by a wide margin the $3.09 EPS consensus analyst estimate compiled by The Wall Street Journal. Marathon Petroleum’s net income slumped to $1.5 billion for the second quarter, down from $2.2 billion for the second quarter of 2023. The… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Marathon-Petroleum-Q2-Earnings-Top-Estimates.html |
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U.S. Administration to Allocate $2.2 Billion for Power Grid UpgradesThe U.S. Department of Energy is allocating $2.2 billion in grants for upgrades of the grid to make it more resilient to extreme weather events and accommodate more renewable energy. The funding from the DOE will add to private sector financing to support eight grid upgrade projects across 18 states. According to the U.S. Administration, the DOE funding is expected to support the construction of more than 600 miles of new transmission lines and the upgrade of about 400 miles of existing lines so that they can carry more current. “The first… Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Administration-to-Allocate-22-Billion-for-Power-Grid-Upgrades.html |
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Petrobras Makes Natural Gas Discovery Off Colombia’s CoastBrazilian state-owned oil company Petrobras S.A. (NYSE:PBR) and Colombia’s integrated energy company Ecopetrol S.A. (NYSE:EC) have confirmed a natural gas discovery at the Uchuva-2 well off Colombia’s coast. Uchuva-2 is a deepwater well with natural gas previously discovered in the nearby Uchuva-1 well, drilled in 2022. According to a Petrobras official, the promising area off Colombia’s coast could justify a large project to supply natural gas to the Andean country and for exports. “This well adds relevant information for… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Petrobras-Makes-Natural-Gas-Discovery-Off-Colombias-Coast.html |
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NextDecade Awards $4.3 Billion Contract for Rio Grande LNG ProjectU.S. NextDecade Corporation has awarded a $4.3-billion engineering, procurement and construction (EPC) contract to Bechtel Energy Inc for the fourth train of the Rio Grande LNG export project in Texas. NextDecade, which has recently welcomed foreign shareholders to the project, continues to target a positive Final Investment Decision of Train 4 in the second half of 2024, subject to gaining appropriate commercial support and obtaining adequate financing to construct Train 4 and related infrastructure, the corporation said in a statement. NextDecade… Read more at: https://oilprice.com/Latest-Energy-News/World-News/NextDecade-Awards-43-Billion-Contract-for-Rio-Grande-LNG-Project.html |
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Aramco Posts Decline in Q2 ProfitSaudi Aramco reported a net income of $29 billion for the second quarter of the year, down from $30 billion a year earlier. Half-year profits this year were also slightly lower than the 2023 result. Free cash flow also shrank, from $23.1 billion in the second quarter of 2023 to $18.96 billion in the second quarter of this year. Dividends paid, however, were ramped up from $19.5 billion last year, to $31 billion this year. “We have delivered market-leading performance once again, with strong earnings and cash flows in the first half of the… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Aramco-Posts-Decline-in-Q2-Profit.html |
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Dow closes nearly 300 points higher to snap three-day losing run in broad relief rally: Live updatesThe S&P 500 jumped 1% a day after the broad market index notched its worst session in nearly two years. Read more at: https://www.cnbc.com/2024/08/05/stock-market-today-live-updates.html |
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Markets are counting on the Fed to head off recession with sizeable interest rate cutsHow Chair Jerome Powell and his cohorts react likely will go a long way in determining how investors negotiate a turbulent climate. Read more at: https://www.cnbc.com/2024/08/06/markets-are-counting-on-the-fed-to-head-off-recession-with-sizeable-interest-rate-cuts.html |
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Disney raises streaming prices for Hulu, Disney+ and ESPN+Starting mid-October, most plans for Disney+, Hulu and ESPN+ will cost $1 to $2 more per month. Read more at: https://www.cnbc.com/2024/08/06/disney-raises-streaming-prices.html |
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Trump, Harris campaigns race to define Democratic running mate Tim WalzThe Kamala Harris and Donald Trump presidential campaigns pushed dueling portraits of Harris’ newly announced Democratic running mate, Minnesota Gov. Tim Walz. Read more at: https://www.cnbc.com/2024/08/06/trump-harris-tim-walz-running-mate.html |
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Microsoft fires back at Delta after massive outage, says airline declined ‘repeated’ offers for helpMicrosoft said Delta turned down several offers for help during the flight disruptions following the outage. Read more at: https://www.cnbc.com/2024/08/06/microsoft-fires-back-at-delta-after-outage-says-airline-declined-help.html |
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Where BlackRock’s Rick Rieder sees income opportunity amid the market volatilityRick Rieder, BlackRock’s chief investment officer of global fixed income, said these assets have attractive yields and solid fundamentals. Read more at: https://www.cnbc.com/2024/08/06/where-blackrocks-rick-rieder-sees-income-opportunity-amid-the-market-volatility.html |
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Elon Musk will interview Trump on Monday night, Republican presidential nominee saysDonald Trump and Sen. JD Vance are facing Vice President Kamala Harris and Gov. Tim Walz in the 2024 presidential election. Read more at: https://www.cnbc.com/2024/08/06/elon-musk-trump-interview-harris-walz.html |
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Trump possible target of Pakistani national charged in murder-for-hire plotAsif Merchant was arrested in the murder-for-hire case a day before a gunman narrowly missed killing Donald Trump at a campaign rally in Pennsylvania. Read more at: https://www.cnbc.com/2024/08/06/feds-charge-pakistani-national-in-murder-for-hire-plot-against-us-officials-possibly-including-trump.html |
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Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeoverThe company formerly known as Twitter filed the lawsuit against the World Federation of Advertisers and member companies Unilever, Mars, CVS Health and Orsted. Read more at: https://www.cnbc.com/2024/08/06/elon-musks-x-sues-advertisers-over-alleged-massive-advertiser-boycott-after-twitter-takeover.html |
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Charles Barkley commits to staying at Warner Bros. Discovery’s TNT Sports no matter what happens to NBACharles Barkley reaffirmed his long-term commitment to TNT Sports for “many years to come.” Read more at: https://www.cnbc.com/2024/08/06/charles-barkley-commits-staying-warner-bros-discoverys-tnt-sports.html |
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Here’s how Kamala Harris’ running mate Tim Walz could help shape the child tax creditDemocratic nominee Kamala Harris has picked Minnesota Gov. Tim Walz as her running mate, a choice that could highlight the child tax credit, experts say. Read more at: https://www.cnbc.com/2024/08/06/harris-running-mate-tim-walz-could-shape-the-child-tax-credit.html |
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Now is the time to ‘buy things on sale’ in the stock market, advisor says. Here’s what to knowWhile bad days in the market can induce fears, it’s important to stick to your long-term financial goals and continue to invest, experts say. Read more at: https://www.cnbc.com/2024/08/06/now-is-the-time-to-buy-things-on-sale-in-the-stock-market-advisor-says.html |
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Stocks making the biggest moves midday: Kenvue, Caterpillar, Uber, CrowdStrike and moreThese are the stocks posting the largest moves midday. Read more at: https://www.cnbc.com/2024/08/06/stocks-making-the-biggest-moves-midday-kvue-cat-uber-crwd.html |
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FedEx And UPS Must Adapt To Changing Parcel LandscapeBy Satish Jindel, president of ShipMatrix Inc., a consultancy, and founding member of RPS (now FedEx Ground) who has analyzed trends in the parcel and less-than-truckload sectors for 30 years. Via FreightWaves For decades, FedEx and UPS essentially functioned as a duopoly in the U.S. parcel delivery market. With few challengers, they made lots of money.
Read more at: https://www.zerohedge.com/economics/fedex-and-ups-must-adapt-changing-parcel-landscape |
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House Panel Expands ActBlue Probe, Calls On FEC To Help Prevent FraudAuthored by Samantha Flom via The Epoch Times, A House panel is expanding its investigation into whether the Democratic fundraising platform ActBlue may be skirting or violating federal campaign finance laws.
Rep. Bryan Steil (R-Wis.), chairman of the House Administration Committee, launched the probe last fall amid allegations that ActBlue was facilitating the funneling of unlawful contributions to political committees across the country. One of the committee’s initial findings was that ActBlue does not require online donors using a credit or debit card to provide a card verification value (CVV), a code meant to prevent fraudulent transactions. Steil is now asking the Federal Election Commission (FEC) to change that. In an Aug. 5 Read more at: https://www.zerohedge.com/political/house-panel-expands-actblue-probe-calls-fec-help-prevent-fraud |
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3Y Auction Stops Through Despite Yield Plunge To 16 Month LowWhile yields have been tumbling in recent days amid unprecedented flight to safety following the collapse of the yen carry trade, today’s action has seen fast selling of the rates complex with 10Y yields rising to session highs ahead of today’s 3Y auction, the first sale of coupon paper this week, followed by 10Y and 30Y auctions tomorrow and Thursday. Yet despite the aggressive selloff which pushed yields by 10bps higher, demand for today’s sale of $58 billion in 3Y paper was stellar. The auction priced with a high yield of 3.810%, a plunge from last month’s 4.399% and the lowest in 16 months: the last time it was this low was in May 2023 when it was 3.695%. It also stopped through the When Issued 3.812% by 0.2bps, the second consecutive stop through after sizable tails in both June and April.
The bid to cover was mediocre at 2.551, down from last month’s 2.667, and right around the six-auction average of 2.569. The internals were also solid, with Indirects taking down 64.4%, up from 64.0% in July a … Read more at: https://www.zerohedge.com/markets/3y-auction-stops-through-despite-yield-plunge-16-month-low |
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Maricopa County Sued After Refusing To Remove Illegals From Voter RollsAmerica First Legal (AFL) has filed a lawsuit against Maricopa County, Arizona recorder Stephen Richer for failing to remove non-citizens from county voter rolls.
On Monday the legal organization founded by former senior Trump adviser Stephen Miller sued Richer and Maricopa County on behalf of the Strong Communities Foundation of Arizona and a registered voter and naturalized citizen, for allegedly refusing to verify the citizenship of voters registered in the county, Just the News reports. On July 16, AFL sent letters to all 15 Arizona counties demanding that election officials follow state and federal law by ensuring that non-c … Read more at: https://www.zerohedge.com/political/maricopa-county-sued-after-refusing-remove-illegals-voter-rolls |
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US stock markets rise after days of turmoilShares in the US opened higher but markets in the UK and Europe stayed down after a cautious open. Read more at: https://www.bbc.com/news/articles/c1d77xe2p26o |
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What could Google monopoly ruling mean for you?The US government says it wants ‘structural relief’ after a judge found the search giant broke the law. Read more at: https://www.bbc.com/news/articles/cy9eegg0rdvo |
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Reeves refuses to rule out capital gains tax riseIt’s important to “strike the right balance” when deciding on tax policies, the chancellor says. Read more at: https://www.bbc.com/news/articles/c9v880z470lo |
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Sebi proposes changes to regulations governing investment advisors, research analysts. Check detailsThe consultation paper comes pursuant to the 2023-24 budget announcement which called for simplifying, easing and reducing cost of compliance by comprehensive review of existing regulations. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/sebi-proposes-changes-to-regulations-governing-investment-advisors-research-analysts-check-details/articleshow/112325201.cms |
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Shree Cement Q1 Results: PAT declines 51% YoY to Rs 278 crore; revenue rises marginallyShree Cement Q1 Results: During the first quarter of the 2025 fiscal year, the company reported a 1.75% increase in revenue from operations, reaching Rs 5,123.9 crore compared to Rs 5,035.6 crore in the same period last year. Total expenses also rose by 4.4% to Rs 4,618 crore from Rs 4,422 crore in the first quarter of the previous fiscal year. Despite these figures, the company’s stock price experienced a slight decline of 0.2% to Rs 26,682 following the release of the earnings report. Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/shree-cement-q1-results-pat-declines-51-yoy-to-rs-278-crore-revenue-rises-marginally/articleshow/112314119.cms |
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F&O stocks to buy or sell today: ITC among top 6 trading ideasThe Indian market was projected to open higher on Tuesday, driven by global optimism. The Nifty Future fell by 2.50% to 24,094 on Monday. Analysts outlined key trading ranges and provided stock recommendations, including ITC, Tata Motors, and HPCL, with target prices and stop losses for short-term investors. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/fo-stocks-to-buy-or-sell-today-itc-tata-motors-among-top-6-trading-ideas-for-6-august-2024/articleshow/112305622.cms |
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Treasury yields jump by most in over a month as market anxiety easesTreasurys sold off on Tuesday, handing yields their biggest advances since early June and July, after the global risk-off mood seen at the start of this week faded. Read more at: https://www.marketwatch.com/story/treasury-yields-rise-off-12-month-lows-as-market-angst-eases-3f5829e9?mod=mw_rss_topstories |
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As inflation bites, parents are borrowing more than ever to pay for collegeThe annual Sallie Mae report on how America pays for college does not signal good news for next year, either. Read more at: https://www.marketwatch.com/story/as-inflation-bites-parents-are-borrowing-more-than-ever-to-pay-for-college-c85a78b5?mod=mw_rss_topstories |
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These already cheap value stocks are on sale right nowIt’s time to shop for bargains in the U.S. stock market. Read more at: https://www.marketwatch.com/story/heres-a-few-secrets-to-finding-cheap-value-stocks-after-the-markets-selloff-e6c79d0d?mod=mw_rss_topstories |
FedEx and UPS face strong headwinds from Amazon, Walmart and other delivery companies as B2C delivery overtakes the B2B market they were built to serve. (Photo: Jim Allen/FreightWaves)The second-quarter earnings release from UPS on July 23 shocked many investors, resulting in the stock dropping 12% within minutes of the earnings call. The big surprise was that UPS customers are downgrading from Air Express to Ground service and from Ground to the lower-priced SurePost, an economy service that involves injecting pa …
