26 AUG 2024 Market Close & Major Financial Headlines: The Dow And The S&P 500 Scores New Historic Highs, Then The S&P 500 And Nasdaq Slipped Sharply Into The Red, Closing Near Session Lows

Summary Of the Markets Today:

  • The Dow closed up 65 points or 0.16%, (Closed at 41,241, New Historic high 41.420)
  • Nasdaq closed down 0.85%,
  • S&P 500 closed down 0.32%, (Closed at 5,617, New Historic high 5,652)
  • Gold $2,555 up $8.50,
  • WTI crude oil settled at $77 up $2.31,
  • 10-year U.S. Treasury 3.820 up 0.013 points,
  • USD index $100.90 up $0.19,
  • Bitcoin $63,370 down $1,220 or 1.89%,

*Stock data, cryptocurrency, and commodity prices at the market closing.

Today’s Highlights:

US stocks ended mixed on Monday, with the Dow Jones Industrial Average reaching a new record high while the S&P 500 and Nasdaq Composite declined.  Key points from the session:

  1. Technology stocks lagged, with semiconductor companies like Broadcom and Nvidia falling along with Tesla.
  2. Investors are weighing the prospect of imminent interest rate cuts signaled by Fed Chair Jerome Powell last week against upcoming economic data and earnings reports.
  3. Markets are pricing in rate cuts totaling 1% by the end of 2024, but uncertainty remains about the timing and magnitude.
  4. Nvidia’s earnings report on Wednesday is seen as a crucial event that could impact market sentiment, especially regarding AI-related stocks.
  5. Other important economic data coming this week include the PCE inflation index on Friday and Q2 GDP figures on Thursday.
  6. Oil prices jumped about 3% due to production issues in Libya and escalating tensions in the Middle East.

The market’s performance reflects a mix of optimism about potential rate cuts and caution ahead of key economic data and earnings reports, particularly from the technology sector. The divergence between the Dow’s record high and declines in tech-heavy indexes highlights the current market dynamics.


Click here to read our current Economic Forecast – August 2024 Economic Forecast: New Recession Flag


Today’s Economic Releases Compiled by Steven Hansen, Publisher:

New orders for manufactured durable goods in July 2024 was up 1.3% year-over-year (0.2% inflation adjusted). This is up from last month’s -10.6% year-over-year. Not sure what happened in last month’s data to have this excessive decline, but the growth this month was across all sectors except for non-defense aircraft (Boeing). It is possible that the data one year ago had unusually high new orders.

The Dallas Fed’s Texas Manufacturing Outlook Survey exhibited little growth in August 2024. The production index, a key measure of state manufacturing conditions, inched up three points to 1.6, with the low reading signaling only slight growth in output from July. Most other measures of manufacturing activity continued to indicate declines this month, though they were less negative than in July. The new orders index climbed nine points to -4.2, and the capacity utilization index pushed up eight points to -2.5. The shipments index came in near zero, rebounding from -16.3 last month. Manufacturing remains a soft spot in today’s economy.

CoreLogic’s latest Single-Family Rent Index (SFRI) shows national year-over-year rent growth is returning to pre-pandemic rates as prices continue to hold steady. In June 2024, prices remained relatively stable, posting a 2.9% gain year-over-year. Although rental prices are growing slowly — this time last year, rent increases were 2.8% year over year — they continue their steady climb. Molly Boesel, principal economist for CoreLogic added:

Single-family rents have been bouncing around their pre-pandemic rate of growth of about 3% this year after growing by double digits for most of 2021 and 2022. At the end of 2023, they did slow to the mid-2% range. While single-family rents are increasing at a stable rate, median rent continues to rise and has increased over $300 over the past two years.

Here is a summary of headlines we are reading today:

  • Looming Atlantic Current Collapse Threatens Northern Europe’s Climate
  • EIA Reports Increase in U.S. EV Sales After Slowdown
  • How Long Will Gold’s Record-Breaking Rally Last?
  • Rate Cut Euphoria Fades as Oil Prices Jump 3.5%
  • Canada Slaps 100% Import Tariff on Chinese EVs
  • Oil Prices Soar as Geopolitical Risk Rises Rapidly
  • Dow closes at record high, while tech stocks drag down S&P and Nasdaq: Live updates
  • Telegram-linked crypto token plunges after CEO is arrested in France: CNBC Crypto World
  • Dutch Gov’t Slaps Uber With Record $324 Million Fine For “Transferring Driver Data To US”
  • Ikea trials resale website to rival eBay and Gumtree
  • Treasury yields tick higher as traders wait for more clarity on Fed’s next move

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.

Azerbaijan Aims to Become Key Trade and Manufacturing Hub for China

Azerbaijan is laying the groundwork to boost its ambitions in the South Caucasus and is looking to China for help. In just two months, Baku’s ties with Beijing have quickly moved forward as the oil-rich country has inched closer politically and economically through a series of agreements that could boost China’s presence in the region and open the door to newfound Chinese investment into Azerbaijan. The series of recent moves began on July 3 when Azerbaijani President Ilham Aliyev met with Chinese leader Xi Jinping on the sidelines of the Shanghai…

Read more at: https://oilprice.com/Geopolitics/International/Azerbaijan-Aims-to-Become-Key-Trade-and-Manufacturing-Hub-for-China.html

Oil Dominates the $5 Trillion Global Commodity Market

This chart, via Visual Capitalist’s Pallavi Rao, categorizes over $5 trillion in global commodity exports by sector and the value of material exported. Data was averaged between 2019–2021 to represent an annual estimate. Source figures can be found at The State of Commodity Dependence 2023 published by UN Trade & Development. Commodity Exports with the Highest Value Oil and its products account for 30% of global commodity exports on average, valued at $1.5 trillion annually. Figures rounded. When including natural gas, electricity, and…

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Dominates-the-5-Trillion-Global-Commodity-Market.html

Looming Atlantic Current Collapse Threatens Northern Europe’s Climate

In recent years scientists have been watching and measuring the flow of the Atlantic Meridional Overturning Circulation, (AMOC), what Americans often refer to as the Gulf Stream though that flow is only part of this vast ocean current. For a long time the belief was that the AMOC—which transports heat from the tropics to Greenland, Iceland and northern Europe and makes them much warmer than they would otherwise be—would continue to flow with no discernible end date. But two recent studies suggest that the current could not just slow,…

Read more at: https://oilprice.com/The-Environment/Global-Warming/Looming-Atlantic-Current-Collapse-Threatens-Northern-Europes-Climate.html

EIA Reports Increase in U.S. EV Sales After Slowdown

Quarter-over-quarter, the United States has seen the share of electric and hybrid vehicle sales increase by around 1%, after a decline in the previous quarter, with hybrid sales driving the increase, according to the Energy Information Administration (EIA) on Monday.   Citing estimates from Wards Intelligence, the EIA recorded Q2 2024 sales of hybrid, plug-in hybrids (HEVs) and battery electric vehicles (BEVs) as having risen from 17.8% to 18.7% from the first quarter to the second, with HEVs driving the increase with a 30.7% jump in…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EIA-Reports-Increase-in-US-EV-Sales-After-Slowdown.html

How Long Will Gold’s Record-Breaking Rally Last?

Via Metal Miner The Global Precious Metals MMI (Monthly Metals Index) narrowly missed trading flat, only budging down a mere 0.01%. Precious metals prices experienced an array of volatility in both directions, which held the overall index firmly in a sideways trend. Gold prices continue to rise while other precious metals like palladium and silver dropped (price trends and updates covered weekly in MetalMiners’s newsletter). With gold prices hitting brand new highs, many are beginning to question just how high prices will go before dropping.…

Read more at: https://oilprice.com/Metals/Commodities/How-Long-Will-Golds-Record-Breaking-Rally-Last.html

Russia Launches 200 Missiles at Ukrainian Energy Installations

Russia on Monday launched some 200 missiles at Ukraine, targeting energy installations, while Polish media report that Warsaw has deployed aircraft to defend Polish airspace against the onslaught, and a U.S. airbase in Germany remains on full alert in a state of preparedness.  Parts of Kyiv have been rendered without power and water, according to Reuters.  “The desire to destroy our energy sector will cost the Russians dearly for their infrastructure,”  the Kyiv Post quoted Andriy Yermak, head of the Office of the President of Ukraine,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Launches-200-Missiles-at-Ukrainian-Energy-Installations.html

Rate Cut Euphoria Fades as Oil Prices Jump 3.5%

US futures edged fractionally higher to start the week with small-caps outperforming as last week’s rally, when euphoric investors bought stocks after Fed Chair Jerome Powell’s dovish tilt at Jackson Hole, fizzled. As of 8:00am ET, S&P 500 futures gained 0.1% while and Nasdaq 100 futures turned red after both indexes notched gains of more than 1% on Friday when Powell’s J-Hole speech cemented the case for an interest-rate cut next month; the debate has now shifted to the size of the cut and what that would say about the state of…

Read more at: https://oilprice.com/Energy/Crude-Oil/Rate-Cut-Euphoria-Fades-as-Oil-Prices-Jump-35.html

ExxonMobil: Oil Demand Will be Over 100 Million Bpd in 2050

As the rivalry over global oil demand projections continues to intensify, supergiant Exxon Mobil on Monday chimed in to forecast that crude demand will continue to be over 100 million barrels per day through 2050, contradicting other forecasts that come in much lower, Reuters reported.  The forecast from Exxon, which is planning to see output of 4.3 million barrels of oil and gas per day this year, is at odds with other forecasts, both among its peers and among analysts.  Exxon has also estimated that in 2050, 67% of the global energy…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/ExxonMobil-Oil-Demand-Will-be-Over-100-Million-Bpd-in-2050.html

Escalations in Violence From Iran’s Proxies Threaten Huge Oil Price Spike

A series of intense military exchanges between Iranian-backed terrorist organisation Hezbollah and Israel over the weekend align with the Islamic Republic’s intention to keep pressure on Israel and its key Western allies through multiple indirect mechanisms rather than by direct action from Iran, a senior source in the European Union’s (E.U.) energy security complex exclusively told OilPrice.com. “The incidents on Sunday [25 August] involving Hezbollah and of the previous weeks involving the Houthis stepping up attacks in the…

Read more at: https://oilprice.com/Geopolitics/Middle-East/The-Latest-Escalations-In-Violence-From-Irans-Proxies-Threatens-Huge-Oil-Price.html

Canada Slaps 100% Import Tariff on Chinese EVs

Canada is imposing a 100% tariff on all China-made electric vehicles effective October 1, 2024, in a move to protect its auto industry from unfair Chinese trade practices, aligning policy with its U.S. and EU allies that have also hit Chinese EV imports with import duties. Chrystia Freeland, Canada’s Deputy Prime Minister and Minister of Finance, announced on Monday a series of measures to level the playing field for Canadian workers and allow Canada’s EV industry and steel and aluminum producers to compete in domestic, North American,…

Read more at: https://oilprice.com/Energy/Energy-General/Canada-Slaps-100-Import-Tariff-on-Chinese-EVs.html

U.S. Expands Sanctions on Entities Involved in Russia’s Arctic LNG 2

The U.S. State Department is intensifying efforts to derail Russia’s Arctic LNG 2 exports by targeting companies involved in the development of the project and vessels found to have loaded LNG from the facility. Located in the Gydan Peninsula in the Arctic, the Arctic LNG 2 project was considered key to Russia’s efforts to boost its global LNG market share from 8% to 20% by 2030-2035. But Arctic LNG 2 has been basically on ice since the U.S. imposed in November 2023 fresh sanctions on the Russian project. As a result, foreign shareholders…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Expands-Sanctions-on-Entities-Involved-in-Russias-Arctic-LNG-2.html

PetroChina Books Record-High First-Half Earnings

PetroChina booked a record-high operating profit for the first half of the year amid rising crude oil and natural gas production, which more than offset weak Chinese fuel demand. PetroChina, the country’s biggest oil and gas producer, saw its net profit rise by 3.9% year-on-year to $12.44 billion (88.61 billion Chinese yuan) for the first half of 2024, the company said on Monday. Operating income jumped by 5% and stood at $224 billion (1.6 trillion yuan) as oil and gas production rose and “The core oil and gas businesses and other operations…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/PetroChina-Books-Record-High-First-Half-Earnings.html

Oil Prices Spike as Libya’s Eastern Government Announces Halt to All Production

Oil prices jumped by nearly 3% early on Monday, buoyed by fears of escalating conflict in the Middle East and Libya’s rival government in the east announcing the closure of all oilfields, production, and exports. The Benghazi-based government in eastern Libya, which is a rival to the Tripoli-based government in the politically divided North African OPEC producer, said on Monday it would shut down all crude oil output and exports. The threat to Libyan oil production and exports follows the move from the Tripoli-based government to replace…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Spike-as-Libyas-Eastern-Government-Announces-Halt-to-All-Production.html

Qatar to Supply Kuwait With More LNG Under New Long-Term Deal

Qatar will supply LNG to Kuwait under a new long-term deal as the OPEC producer is looking to import more natural gas to meet soaring power demand in the summer. QatarEnergy, the state firm of one of the world’s top LNG exporters, signed on Monday an agreement to supply 3 million tons of LNG to Kuwait per year in a 15-year deal with Kuwait Petroleum Corporation (KPC). Qatar, which has a similar LNG supply deal with Kuwait from 2020, will begin deliveries from the new contract in 2025, KPC’s chief executive officer, Sheikh Nawaf al-Sabah,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Qatar-to-Supply-Kuwait-With-More-LNG-Under-New-Long-Term-Deal.html

Oil Prices Soar as Geopolitical Risk Rises Rapidly

Oil prices spiked dramatically on Monday morning, with Brent breaking above $81 and WTI rising toward $77.  While hopes of an interest rate cut had already boosted bullish sentiment in markets, it is geopolitics and supply risks that sent prices soaring on Monday morning. A combination of Israel launching strikes against Hezbollah in Lebanon, Russia launching a major missile and drone attack on Ukraine, and the Libyan government in Benghazi declaring force majeure on all oil facilities drove oil prices up dramatically. All three of these events…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Soar-as-Geopolitical-Risk-Rises-Rapidly.html

Dow closes at record high, while tech stocks drag down S&P and Nasdaq: Live updates

The Dow rallied to a new record high after a winning week for stocks.

Read more at: https://www.cnbc.com/2024/08/25/stock-futures-are-little-after-fed-signals-rate-cuts-are-imminent.html

Apple announces iPhone event for Sept. 9

The launch event will be streamed on Apple’s website and YouTube.

Read more at: https://www.cnbc.com/2024/08/26/apple-announces-iphone-event-for-sept-9.html

How Trump was ‘orange-pilled’ by three bitcoiners in Puerto Rico and the promise of $100 million

Getting Donald Trump to keynote the year’s biggest bitcoin conference took the work of three friends from Puerto Rico.

Read more at: https://www.cnbc.com/2024/08/26/trump-orange-pilled-by-three-bitcoiners-in-puerto-rico-100-million.html

Trump classified documents case: Special counsel urges appeals court to reverse dismissal

Special counsel Jack Smith urged a U.S. appeals court to reverse the dismissal of the criminal classified documents case against former President Donald Trump.

Read more at: https://www.cnbc.com/2024/08/26/trump-classified-documents-case-special-counsel-urges-appeals-court-to-reverse-dismissal.html

Increased sausage demand could be worrying signal on the economy

One manufacturer included in the Dallas Fed’s latest survey said growth in the category typically aligns with a slowing economy.

Read more at: https://www.cnbc.com/2024/08/26/increased-sausage-demand-could-be-worrying-signal-on-the-economy.html

UBS loves this high-flying sector that’s up 10% in the quarter. Here’s how to play it

Utilities are known for their steady dividend payments, and have been a sleepy corner of the market. The sector is surging in the third quarter.

Read more at: https://www.cnbc.com/2024/08/26/this-high-flying-sector-is-up-10percent-in-the-third-quarter-how-to-play-it.html

Mavericks, Pelicans games are leaving their local sports networks ahead of NBA season

The Dallas Mavericks and New Orleans Pelicans terminated their deals with Diamond Sports ahead of the NBA season, which begins in October.

Read more at: https://www.cnbc.com/2024/08/26/mavericks-pelicans-games-leave-local-networks-amid-diamond-bankruptcy.html

Telegram-linked crypto token plunges after CEO is arrested in France: CNBC Crypto World

CNBC 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, Wyoming Sen. Cynthia Lummis discusses feedback to her bill to build a strategic bitcoin reserve. Plus, she breaks down where progress stands on passing U.S. crypto regulation.

Read more at: https://www.cnbc.com/video/2024/08/26/telegram-linked-crypto-token-plunges-after-ceo-is-arrested-in-france-cnbc-crypto-world.html

Two major investor groups love these stocks, according to Goldman Sachs

Hedge funds and mutual funds piled into a handful of the same stocks last quarter in anticipation of changing market leadership, according to Goldman.

Read more at: https://www.cnbc.com/2024/08/26/two-major-investor-groups-love-these-stocks-according-to-goldman-sachs.html

Canada imposes a 100% tariff on imports of Chinese-made electric vehicles, matching the U.S.

Canada’s government on Monday announced it is imposing a 100% tariff on imports of Chinese-made electric vehicles that matches U.S. tariffs.

Read more at: https://www.cnbc.com/2024/08/26/canada-imposes-a-100percent-tariff-on-imports-of-chinese-made-electric-vehicles.html

Who is Telegram founder Pavel Durov — and why was he arrested?

The Paris Public Prosecutor’s Office issued an arrest warrant for Durov in connection to an investigation opened on July 8.

Read more at: https://www.cnbc.com/2024/08/26/who-is-telegram-founder-pavel-durov-and-why-was-he-arrested.html

Trump waffles on Harris debate on ABC News, Democratic nominee wants hot mics

Former President Donald Trump is scheduled to debate Vice President Kamala Harris, the Democratic presidential nominee, Sept. 10 on ABC News.

Read more at: https://www.cnbc.com/2024/08/26/trump-harris-debate-abc-news-hot-mics.html

Dexcom launches first over-the-counter continuous glucose monitor. Here’s what it’s like

Dexcom launched its continuous glucose monitor called Stelo on Monday, which is available without a prescription

Read more at: https://www.cnbc.com/2024/08/26/dexcom-launches-stelo-its-first-over-the-counter-continuous-glucose-monitor.html

Dispute Breaks Out Over Trump-Harris Debate

Fresh controversy has broken out over the Sept. 10 debate on ABC between Donald Trump and VP Kamala Harris, after the Harris campaign insisted that both candidates’ microphones be live throughout the full broadcast.

The Trump campaign, meanwhile, has insisted that mics be muted when candidates aren’t speaking – which worked out swimmingly for Trump during his June debate with President Biden. [We suspect muted mics will allow Trump to throw Harris off by talking massive shit when nobody else can hear, and her handlers know this.]

“We have told ABC and other networks seeking to host a possible October debate that we believe both candidates’ mics should be live throughout the full broadcast,” said Harris campaign senior adviser, Brian Fallon, telling

Read more at: https://www.zerohedge.com/political/dispute-breaks-out-over-trump-harris-debate

Watch: Suspected Capitol Pipe Bomber Interacts With Cops Night Before Jan. 6

Authored by Ken Silva via HeadlineUSA.com,

Blaze Media has published possibly groundbreaking footage that shows the suspected J6 pipe bomber seemingly interacting with Capitol Police the night before the Jan. 6, 2021, Capitol Hill uprising.

 

The footage reportedly comes from Capitol Police CCTV files recently made public by the Committee on House Administration Subcommittee on Oversight. The specific finding was made by the social media user “Armitas,” according to Blaze.

“The alleged bomber emerged onto First Street Southeast from an alley between the Capitol Hill Club and the Republican National Committee at 8:14 p.m. Jan. 5. The suspect walked north past the Capitol Hill Club. As the individual passed under the restaurant’s green awning at 8:14:30 p.m., a Capitol Police SUV turned the corner onto First Street. The alleged bomber waved at the squad car and then pointed — it appeared — at the driver as the vehicle passed by,”

Read more at: https://www.zerohedge.com/political/watch-suspected-capitol-pipe-bomber-interacts-cops-night-jan-6

Dutch Gov’t Slaps Uber With Record $324 Million Fine For “Transferring Driver Data To US”

The Dutch Data Protection Authority (AP) fined Uber Technologies Inc. a record 290 million euros ($324 million) for transferring the personal data of European taxi drivers to US data centers.

AP said the transfer of European taxi drivers’ personal data to the US is a “serious violation” of the General Data Protection Regulation (GDPR).

The sensitive information collected from drivers included account details and taxi licenses, location data, photos, payment details, IDs, and even criminal data and medical records.

“In Europe, the GDPR protects people’s fundamental rights by requiring companies and governments to handle personal data with care,” AP President Aleid Wolfsen wrote in a statement, adding, “But unfortunately, this is not self-evident outside Europe. Think of governments that can tap data on a large scale.”

Wolfsen continued, “That is why companies are usually required to take additional measures when storing personal data of Europeans outside the European Union. Uber has not ensured the level of protection for drivers required by the GDPR for data transfers to the US. This is very serious.”

Read more at: https://www.zerohedge.com/technology/dutch-govt-slaps-uber-record-324-million-fine-transferring-driver-data-us

The Fable Of The Economic “Soft Landing”

Authored by Frank Shostak via The Mises Institute,

According to some commentators, to counter inflation interest rates in the US must increase to a level that effectively restrains the economy. It is held that this increase in interest rates does not have to cause a recession if Fed’s policy makers could orchestrate a “soft landing.” The economy is portrayed as a spaceship that occasionally deviates from a path of “stable” economic growth and “stable” prices. All that is required to fix the problem is for the central bank to give a suitable “push” to the economy (i.e., the spaceship) to bring it back to the right growth path.

Thus, if the economy falls into a recession, the central bank is expected to bring it onto the “stable” growth path by artificially lowering interest rates. Conversely, if the economy appears to be “overheated,” the central bank is expected to bring it onto the “stable” growth path by artificially raising interest rates.

Read more at: https://www.zerohedge.com/economics/fable-economic-soft-landing

Ikea trials resale website to rival eBay and Gumtree

Ikea Preowned launches in Oslo and Madrid, with a global rollout expected by the end of the year.

Read more at: https://www.bbc.com/news/articles/cy84j50xvemo

Fish and chips price rise tops UK takeaways

The deep fried delicacy has seen the biggest price increase of some of the UK’s most popular takeaways, according to new figures.

Read more at: https://www.bbc.com/news/articles/cn7l6kzppyxo

Qantas sells cut-price first-class fares by mistake

The airline said it will refund or rebook passengers who bought wrongly-priced tickets due to a coding error.

Read more at: https://www.bbc.com/news/articles/c5y8dgezz04o

How bearish market predictor Marc Faber got his name Dr Doom

Faber began writing his bearish outlook reports in the 1970s, initially for personal use and to address the lack of awareness among Americans about foreign exchange rates, the dollar’s value against gold, and European currencies at the time. As the publisher of the widely respected “Gloom, Boom & Doom Report,” he offers contrarian perspectives on global financial markets, highlighting the importance of cautious investing and the potential for significant economic downturns.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/how-bearish-market-predictor-marc-faber-got-his-name-dr-doom/articleshow/112813873.cms

India Inc improves interest coverage in Q1 amid strong operating profit, lower interest expense

The aggregate interest coverage ratio for India Inc hit a nine-quarter high in the recently concluded quarterly results season following a sustained double-digit growth in the operating profit and deceleration in the interest expense.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/india-inc-improves-interest-coverage-in-q1-amid-strong-operating-profit-lower-interest-expense/articleshow/112811704.cms

BofA, Aditya Birla MF buy shares worth Rs 42 crore in debutant Interarch Building Products via block deals

Bank of America acquired 1.3 lakh Interarch Building Products shares for Rs 16.74 crore at Rs 1,287.75 each, a 43% premium over the issue price. Aditya Birla Sun Life Mutual Fund bought 2 lakh shares. The stock closed at Rs 1,203.10, down 7.38% from its listing price.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/bofa-aditya-birla-mf-buy-shares-worth-rs-42-crore-in-debutant-interarch-building-products-via-block-deals/articleshow/112812974.cms

Treasury yields tick higher as traders wait for more clarity on Fed’s next move

Treasury yields edged higher on Monday, reversing some of their declines from last week after Federal Reserve Chair Jerome Powell sparked a rally in bonds Friday by teeing up a September interest-rate cut.

Read more at: https://www.marketwatch.com/story/treasury-yields-tick-higher-as-traders-wait-for-more-clarity-on-feds-next-move-2758288b?mod=mw_rss_topstories

‘I’m starting to worry’: I’ve got $1.2 million in a 401(k). How do I save more for retirement without buying stocks or real estate?

“I am not financially savvy at all.”

Read more at: https://www.marketwatch.com/story/im-starting-to-worry-ive-got-1-2-million-in-a-401-k-how-do-i-save-more-for-retirement-without-buying-stocks-or-real-estate-07767332?mod=mw_rss_topstories

‘There’s a lot of uncertainty in life’: These Gen Z workers are crushing retirement already. What the rest of us can learn.

Generation Z is “focused” and “intentional” when it comes to planning for the future.

Read more at: https://www.marketwatch.com/story/theres-a-lot-of-uncertainty-in-life-these-gen-z-workers-are-crushing-retirement-already-what-the-rest-of-us-can-learn-62ec56e4?mod=mw_rss_topstories

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