Summary Of the Markets Today:
- The Dow closed up 38 points or 0.09%,
- Nasdaq closed down 0.30%,
- S&P 500 closed down 0.16%,
- Gold $2,524 up $0.60,
- WTI crude oil settled at $67 down $1.46,
- 10-year U.S. Treasury 3.761 down 0.083 points,
- USD index $101.33 down $0.50,
- Bitcoin $57,997 up $467 or 0.81%,
*Stock data, cryptocurrency, and commodity prices at the market closing.
Today’s Highlights
US stocks experienced a mixed trading session on Wednesday, following a steep sell-off the previous day driven by concerns about economic growth and the artificial intelligence sector. Nvidia shares dropped more than 1% after reports of an intensified antitrust probe by US regulators. The previous day saw Nvidia lose $279 billion in market value, indicating waning confidence in the AI boom that has driven much of this year’s gains. Job openings fell to 7.67 million in July, the lowest level since January 2021. This data suggested a cooling labor market, prompting bond yields to fall. Markets now price in a nearly 50% chance of a 50 basis point interest rate cut by the Federal Reserve by the end of its September meeting, up from 38% the previous day. The two-year Treasury yield dropped nearly 10 basis points to 3.79%, its lowest level of 2024. Despite the mixed performance, investors are bracing for potential volatility in September, historically a challenging month for markets. Analysts suggest that stocks may face continued uncertainty following a turbulent August.
Click here to read our current Economic Forecast – September 2024 Economic Forecast: One Recession Flag Removed With Three Remaining
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
A summary of the US trade situation in July 2024 is that imports are increasing (blue line in the graph below), exports are little changed (red line in the graph below) – so the trade balance continues to worsen (green line in the graph below). With our manufacturing in a recession and generally not competitive internationally – how will the US trade situation improve over the long term?
In July 2024, the number of job openings was little changed at 7.7 million (6.7 million if you exclude government which is the red line on the graph below) and was down by 1.1 million over the year. This information is lifted from the Job Openings and Labor Turnover (JOLTS) report. As one can see from the red line on the graph below. there is a correlation between job openings and private employment growth (which is the blue line on the graph below). The bottom line is that since job opening are modestly trending down, I expect jobs growth to also modestly trend down. However, I still expect a good jobs growth going forward in the range of 100,000 to 150,000 per month.
The August 2024 Beige Book is worth a read. The Beige Book is an informal survey of “contacts” by each of the Federal Reserve Districts. Note that it is poor in identifying recessions, but this month’s Beige Book is describing a stalling (or already stalled) US economy.
Economic activity grew slightly in three Districts, while the number of Districts that reported flat or declining activity rose from five in the prior period to nine in the current period. Employment levels were steady overall, though there were isolated reports that firms filled only necessary positions, reduced hours and shifts, or lowered overall employment levels through attrition. Still, reports of layoffs remained rare. On balance, wage growth was modest, while increases in nonlabor input costs and selling prices ranged from slight to moderate. Consumer spending ticked down in most Districts, having generally held steady during the prior reporting period. Auto sales continued to vary by District, with some noting increases in sales and others reporting slowing sales because of elevated interest rates and high vehicle prices. Manufacturing activity declined in most Districts, and two Districts noted that these declines were part of ongoing contractions in the sector. Residential construction and real estate activity were mixed, though most Districts’ reports indicated softer home sales. Likewise, reports on commercial construction and real estate activity were mixed. District contacts generally expected economic activity to remain stable or to improve somewhat in the coming months, though contacts in three Districts anticipated slight declines.
Labor Markets
Employment levels were generally flat to up slightly in recent weeks. Five Districts saw slight or modest increases in overall headcounts, but a few Districts reported that firms reduced shifts and hours, left advertised positions unfilled, or reduced headcounts through attrition—though accounts of layoffs remained rare. Employers were more selective with their hires and less likely to expand their workforces, citing concerns about demand and an uncertain economic outlook. Accordingly, candidates faced increasing difficulties and longer times to secure a job. As competition for workers has eased and staff turnover has fallen, firms felt less pressure to increase wages and salaries. On balance, wages rose at a modest pace, in line with the slowing trend described in recent reports. Skilled tradespeople and other workers with specialized skills remained in short supply and continued to see stronger wage increases, as did those in unions.
Prices
On balance, prices increased modestly in the most recent reporting period. However, three Districts reported only slight increases in selling prices. Nonlabor input cost increases were largely described as modest to moderate and as generally easing, though one District described input cost increases as ticking up. A number of Districts observed that both freight and insurance costs continued to increase. By contrast, some Districts noted that cost pressures moderated for food, lumber, and concrete. Looking ahead, contacts generally expected price and cost pressures to stabilize or ease further in the coming months.
Here is a summary of headlines we are reading today:
- The High Cost of Cheap Chinese Imports
- India Proposes Anti-Dumping Duties on Chinese Aluminum Foil
- Rare Metals Prices Surge As China Restricts Exports
- Citi Reiterates $60 Oil Price Forecast Amid “Bearish Trend”
- OPEC+ Discusses Delaying Supply Boost After Oil Price Crash
- S&P 500 books back-to-back losses as Wall Street grapples with a rocky start to September: Live updates
- Job openings fell more than expected in July in another sign of labor market softening
- U.S. Steel shares plunge on report White House preparing to block Nippon Steel takeover
- Bitcoin recovers from overnight sell-off that pushed it below $56,000: CNBC Crypto World
- Nvidia shares up after plunge that wiped out nearly $300 billion in market cap
- Fracking led the U.S. to pump more oil than any country in history — here’s what that means for the green energy transition
- 2-, 10-year Treasury yields end at lowest levels since 2023 on fears of weakening economy
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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China’s Green Pivot in Africa: A Sustainable Model for Eurasia?Chinese leader Xi Jinping is rolling out the red carpet for African leaders this week at a high-level summit in Beijing as China looks to deepen ties with the resource-rich continent that it has furnished with billions in loans for infrastructure and development projects. But what kind of lessons does the experience of African countries hold for other regions where China has also become a political and economic force? Finding Perspective: Beijing has said the September 4-6 Forum on China-Africa Cooperation (FOCAC) summit will be its largest diplomatic… Read more at: https://oilprice.com/Energy/Energy-General/Chinas-Green-Pivot-in-Africa-A-Sustainable-Model-for-Eurasia.html |
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The High Cost of Cheap Chinese ImportsBy Mish Shedlock China is going all in on exports to revive growth led by EVs. Trump vows to strike back with 60% tariffs. Accelerated Global Trade War The Wall Street Journal comments China Is Starting a New Trade War. China is cranking up its massive export machine again, and this time there’s nowhere for competitors to hide. A Massachusetts startup called CubicPV bet on silicon wafers, a high-tech component in solar panels. Buoyed by President Biden’s climate legislation enacted two years ago, with billions of dollars in tax credits… Read more at: https://oilprice.com/Energy/Energy-General/The-High-Cost-of-Cheap-Chinese-Imports.html |
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South America Leads Global Crude Oil Supply GrowthSouth America is a key source for growth in the world’s crude oil supply as production in other regions is stagnating. Brazil, Guyana and Argentina are among the fastest-growing countries in terms of crude supply growth, and Venezuela has also seen a good recovery in recent months. The latest data shows Brazil’s crude and condensate output climbed 7% from April to June, halting a five-month declining trend. Guyana’s rapid output growth slowed in the third quarter as key assets underwent maintenance, while shale oil production… Read more at: https://oilprice.com/Energy/Crude-Oil/South-America-Leads-Global-Crude-Oil-Supply-Growth.html |
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Adnoc To Buy 35% Stake In ExxonMobil’s Blue Hydrogen PlantAbu Dhabi-based energy company Adnoc has agreed to acquire a 35% equity stake in Exxon Mobil’s (NYSE:XOM) proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, according to various media reports. The project is set to become the “world’s largest” of its kind, with a production capacity of up to 1 billion cubic feet daily of blue hydrogen, with about 98% of carbon dioxide removed, as well as more than 1 million tonnes of low-carbon ammonia per year, Adnoc revealed in a statement on Wednesday. The… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Adnoc-To-Buy-35-Stake-In-ExxonMobils-Blue-Hydrogen-Plant.html |
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India Proposes Anti-Dumping Duties on Chinese Aluminum FoilVia Metal Miner This week brought news of one more anti dumping proposal against China. This time around, a department under India’s Ministry of Commerce and Industry proposed imposing an anti dumping duty on the imports of Chinese aluminum foil. This follows multiple complaints by members of the domestic aluminum industry regarding cheap foil flooding the market. Aluminum foil is used as a packaging material to conserve and preserve food products. According to a foil market study by the Directorate General of Trade Remedies (DGTR),… Read more at: https://oilprice.com/Metals/Commodities/India-Proposes-Anti-Dumping-Duties-on-Chinese-Aluminum-Foil.html |
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Colombia Pipeline Attacks Hit Ecopetrol OutputColombia’s state-owned oil and gas company Ecopetrol S.A. (NYSE:EC) has revealed that its operations have been negatively impacted by attacks on the Cano Limon-Covenas and Bicentenario pipelines as well as a nationwide truckers’ strike. According to the company, production of hydrocarbons could be impacted in the coming days, crippling fuel supplies. “The lacking availability of the aforementioned pipelines, due to the attacks, added to difficulty in moving tankers with hydrocarbons and liquefied petroleum gas, may impact crude oil and gas production… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Colombia-Pipeline-Attacks-Hit-Ecopetrol-Output.html |
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Rare Metals Prices Surge As China Restricts ExportsLast year, China announced that it would impose restrictions on exports of eight gallium and six germanium products starting August 2023 in retaliation for U.S. imposing trade restrictions and tariffs on Chinese-made products. On August 14, Beijing tightened the noose and announced export restrictions on antimony as part of the country’s latest move to restrict critical mineral shipments. And now prices of antimony and gallium are surging despite the export restrictions having yet to go into effect. Antimony prices have rocketed to an all-time… Read more at: https://oilprice.com/Energy/Energy-General/Rare-Metals-Prices-Surge-As-China-Restricts-Exports.html |
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Controversy Surrounds Kazakhstan’s Nuclear ReferendumThe chairwoman of Kazakhstan’s Central Commission on Referendums (ORK), Sabila Mustafina, said on September 3 that 15.5 billion tenges (more than $32 million) has been requested for a nationwide referendum on the construction of a nuclear power station in the Central Asian country next month. The announcement came a day after President Qasym-Zhomart Toqaev announced the referendum and signed a decree setting October 6 as the date of the vote. According to Mustafina, 71 percent of the requested sum would cover compensation for the work of more than… Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Controversy-Surrounds-Kazakhstans-Nuclear-Referendum.html |
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Citi Reiterates $60 Oil Price Forecast Amid “Bearish Trend”We could see $60-per-barrel oil prices next year if OPEC+ fails to implement more production cuts, Citi said in a Wednesday note to clients, citing slowing demand and strong supply coming from non-OPEC producers. Further into its doomsday oil pricing, Citi said that once Brent crude prices drop to the $60 range, they could get pushed down further to $50 a barrel due to financial flows before rebounding. Citi noted that geopolitical tensions are not having a huge, direct impact on oil prices. While geopolitical tensions have been temporarily… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Citi-Reiterates-60-Oil-Price-Forecast-Amid-Bearish-Trend.html |
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The World’s 3 Biggest Oil Exporters Saw Shipments Slump in AugustThe world’s ‘Big 3’ crude oil exporters – Saudi Arabia, Russia, and the United States – saw their combined shipments slump by nearly 700,000 barrels per day (bpd) in August from July to a multi-year low share of global seaborne crude exports, an analysis by oil flow tracking firm Vortexa showed on Wednesday. Total crude exports from Saudi Arabia, Russia, and the U.S. fell to 12.7 million bpd last month, down by nearly 700,000 bpd month-on-month. Despite the major drop in ‘Big-3’ exports, global exports… Read more at: https://oilprice.com/Energy/Energy-General/The-Worlds-3-Biggest-Oil-Exporters-Saw-Shipments-Slump-in-August.html |
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UAE’s State Oil Giant ADNOC Issues First-Ever BondAbu Dhabi’s state oil firm ADNOC is beginning its first bond sale with a three-tranche dollar-denominated issuance on Wednesday, sources with knowledge of the matter told Bloomberg. ADNOC is joining other major national oil companies in launching a bond sale this year, to take advantage of favorable borrowing costs that would fund development. Earlier this week, ADNOC said that ADNOC Murban RSC, its wholly-owned, debt capital markets borrowing and rated entity, has established and launched a Global Medium Term Note (GMTN) program to raise… Read more at: https://oilprice.com/Latest-Energy-News/World-News/UAEs-State-Oil-Giant-ADNOC-Issues-First-Ever-Bond.html |
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Argentina’s Second-Largest Shale Producer to Invest $1 Billion in Vaca MuertaIndependent producer Vista Energy, the second-biggest shale producer in Argentina, plans to invest around $1.1 billion in the growing shale basin Vaca Muerta, the company’s founder and CEO Miguel Galuccio told Reuters in an interview published on Wednesday. The Vaca Muerta shale play in Argentina is the top development priority for the company, which also operates an onshore oil and gas field in Mexico. Vaca Muerta—Spanish for ‘dead cow’—has been dubbed the Argentinian Permian, although its geologic properties… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Argentinas-Second-Largest-Shale-Producer-to-Invest-1-Billion-in-Vaca-Muerta.html |
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OPEC+ Discusses Delaying Supply Boost After Oil Price CrashOPEC+ has started discussing a possible delay to their planned easing of the production cuts after oil prices crashed in the past days to the lowest level in 9 months, sources in the alliance told Reuters on Wednesday. Early on Wednesday oil prices reversed their slide after reports emerged about the possible delay to the easing of the cuts. Both benchmarks were rising by around 1% as of 7:15 a.m. EDT. Oil prices plunged on Tuesday to their lowest level since the end of last year, with Brent breaking below $74 and WTI Crude prices dropping briefly… Read more at: https://oilprice.com/Energy/Energy-General/OPEC-Discusses-Delaying-Supply-Boost-After-Oil-Price-Crash.html |
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Norway Looks to Overturn Court Ruling Against Three Oilfield ApprovalsOn Wednesday, the Norwegian government asked an appeals court to overturn a lower court ruling that said that the approval of three oilfields offshore Norway was unlawful as the assessment did not consider the environmental impact of the petroleum from these fields. Early this year, the Oslo District Court ruled that the government’s approval of three new oil and gas fields, Breidablikk, Yggdrasil, and Tyrving, all in the North Sea, was invalid as it failed to take into account the emissions from burning the petroleum… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Norway-Looks-to-Overturn-Court-Ruling-Against-Three-Oilfield-Approvals.html |
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Top UK North Sea Oil Firm Sees Rising Windfall Tax Hitting InvestmentsThe UK government’s plan to further raise the windfall tax on North Sea oil and gas producers will drive investments away from the region while Britain still needs oil and gas for the foreseeable future, the chief executive of Harbour Energy, the largest UKCS producer, told the Financial Times. The Labour Party, which came to power in the UK after a landslide victory in the July general election, said in July that it intends to raise the rate of the Energy Profits Levy (EPL) to 38% from 1 November 2024, from 35% now, bringing the headline… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Top-UK-North-Sea-Oil-Firm-Sees-Rising-Windfall-Tax-Hitting-Investments.html |
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S&P 500 books back-to-back losses as Wall Street grapples with a rocky start to September: Live updatesInvestors are coming off a losing session, with the major benchmarks posting their worst day going back to the Aug. 5th sell-off. Read more at: https://www.cnbc.com/2024/09/03/stock-market-today-live-updates-.html |
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Job openings fell more than expected in July in another sign of labor market softeningThe closely watched Job Openings and Labor Turnover Survey showed that available positions fell to 7.67 million on the month. Read more at: https://www.cnbc.com/2024/09/04/jolts-july-2024.html |
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Summer box office bounced back thanks to ‘Inside Out 2,’ ‘Deadpool & Wolverine’The summer box office secured $3.6 billion in ticket sales, a 10% drop from the same period in 2023, but a better outcome than expected. Read more at: https://www.cnbc.com/2024/09/04/summer-box-office-buoyed-by-inside-out-2-deadpool-wolverine.html |
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U.S. Steel shares plunge on report White House preparing to block Nippon Steel takeoverVice President Kamala Harris, the Democratic presidential nominee, said U.S. Steel “should remain American-owned and American-operated.” Read more at: https://www.cnbc.com/2024/09/04/us-steel-shares-drop-more-than-15percent-on-report-white-house-preparing-to-block-nippon-steel-takeover.html |
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Need break from the turmoil? This boring ETF just hit a new all-time highThe S&P Dividend ETF touched a new record, bucking Tuesday’s big sell-off. Read more at: https://www.cnbc.com/2024/09/04/need-break-from-the-turmoil-a-boring-etf-just-hit-a-new-all-time-high.html |
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NFL’s next big media rights payday is years off — and subject to a shifting industryThe NFL and other leagues are waiting to see how the turmoil in the media industry shakes out before determining their future TV rights deals. Read more at: https://www.cnbc.com/2024/09/04/nfl-media-rights-media-landscape.html |
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Bitcoin recovers from overnight sell-off that pushed it below $56,000: 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, Sam Hallene, investment partner at trading and VC firm CMT Digital, explains what crypto sectors are attracting the most venture capital investments right now and whether AI is pulling some money away from blockchain investments. Read more at: https://www.cnbc.com/video/2024/09/04/bitcoin-recovers-from-overnight-sell-off-that-pushed-it-below-56000-cnbc-crypto-world.html |
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Republican-led states sue to block Biden’s sweeping student loan forgiveness planRepublican-led states have sued the Education Department to block the Biden administration from carrying out its sweeping new student loan forgiveness plan. Read more at: https://www.cnbc.com/2024/09/04/republican-led-states-sue-to-block-bidens-student-loan-forgiveness-plan.html |
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Trump Media shares erase 2024 gains as key DJT sale date nearsDJT stock has slumped ahead of the date when Donald Trump will have the option to start selling his stake. Read more at: https://www.cnbc.com/2024/09/04/trump-media-djt-negative-ytd.html |
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Nvidia shares up after plunge that wiped out nearly $300 billion in market capNvidia’s huge rise in recent years has been directly related to its dominance in AI chips for data centers. Read more at: https://www.cnbc.com/2024/09/03/nvidia-slides-in-post-market-trading-after-drop-wiped-out-300-billion.html |
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Fracking led the U.S. to pump more oil than any country in history — here’s what that means for the green energy transitionIn 2023, the U.S. produced more oil than any country in history. This comes as fossil fuel and renewable energy subsidies face scrutiny. Read more at: https://www.cnbc.com/2024/09/04/how-fracking-us-oil-production-record-renewable-energy.html |
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Airplane engines are in short supply. The business of fixing older ones is boomingEngine repair shops have swelled to a $58 billion business, according to Alton Aviation Consultancy, and are cash cow for engine makers like GE Aerospace. Read more at: https://www.cnbc.com/2024/09/04/airplane-engines-repairs.html |
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Beyond Meat to launch new steak alternative as it focuses on healthShares of Beyond Meat have lost a third of their value this year, dragging its market value down to less than $400 million. Read more at: https://www.cnbc.com/2024/09/04/beyond-meat-to-launch-new-steak-alternative-as-it-focuses-on-health.html |
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Biden Sits At Tiny Fake White House DeskAuthored by Steve Watson via modernity.news, Joe Biden hasn’t been the person running the country for his entire presidency. He just came back from a two week beach nap.
Nothing sums this up better than having Biden sit on a fake White House set at a tiny fake desk to deliver a speech of no significance whatsoever. What the hell is this?
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US Navy Sailor Detained By Maduro’s Security Services In VenezuelaEarlier this week the Pentagon had a foreign crisis on its hands after a group of Marines and Navy personnel were assaulted by a Turkish mob while on port liberty from the USS Wasp warship, which was docked at Izmir in Turkey. Ten Turks from a nationalist political party are reportedly in custody. But now another foreign crisis has emerged involving US personnel, this time in Venezuela. A US Navy sailor has been detained by Venezuelan security services after traveling there on personal business. Two US defense officials have confirmed the unidentified sailor’s detention by Venezuelan law enforcement, and the individual has been in custody since on or about Aug.30, the Pentagon revealed.
A View of Caracas, Venezuela. source: Yordanka Caridad/Havana Times “The U.S. Navy is looking into this and worki … Read more at: https://www.zerohedge.com/geopolitical/us-navy-sailor-detained-maduros-security-services-venezuela |
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Michigan Residents Weary Of National Politics, Hopeful For TruthAuthored by Lawrence Wilson via The Epoch Times (emphasis ours), Michigan voters helped swing the Electoral College to Donald Trump in 2016 and then to Joe Biden in 2020. The votes were close in each election, with the winner decided by 0.2 percent in 2016 and 2.8 percent in 2020.
Illustration by The Epoch Times, John Fredricks/The Epoch Times, Getty Images The state’s major cities, including Detroit, Ann Arbor, Lansing, and Grand Rapids, are Democratic strongholds, while the smaller cities and rural areas tend to vote Republican in national elections. From the shores of the Port of Detroit to the sandy beaches of Grand Haven, The Epoch Times traveled Michigan from coast to coast to find out how this year’s politica … Read more at: https://www.zerohedge.com/political/michigan-residents-weary-national-politics-hopeful-truth |
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US Steel Shares Melt Down After Biden Reportedly Prepares To Block Deal With Japan’s NipponUpdate (1433ET): Shares of US Steel in New York crashed around 1343 ET after a Washington Post report, citing three people familiar with the matter, revealed that President Biden intends to formally block Nippon Steel’s proposed $14.9 billion deal with the Pittsburgh-based steelmaker. Shares crashed 21% to the $27 handle, erasing all gains made in late 2023 after Japan’s largest steelmaker said it would buy US Steel for $55 per share in an all-cash transaction.
If losses hold through the end of the cash session, this would be the largest daily loss since -26.8% on April 26, 2017. Read more at: https://www.zerohedge.com/commodities/us-steel-ceo-warns-collapse-nippon-deal-would-spark-plant-closings |
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State pension to rise by over £400 next yearThis will take the full state pension for men who have retired since 1951 and women since 1953 to around £12,000 in 2025/26. Read more at: https://www.bbc.com/news/articles/cewlqxv0n1qo |
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Does working a four-day week make you happier?The BBC hears from people who work full-time over four days with mixed views on the pros and cons. Read more at: https://www.bbc.com/news/articles/c4gq0z5257ro |
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Biggest UK housing firm to build fewer homesThe house building giant built 18% fewer homes last year as profits tumbled. Read more at: https://www.bbc.com/news/articles/c8rx23jdkd5o |
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IPO lock-in expires, shares of 38 companies worth $21 billion may enter market by NovemberBetween now and November 30, $21 billion worth of shareholder lock-ins across 38 companies will expire. This includes shares from Ceigall India, Unicommerce, and Firstcry, among others. Not all unlocked shares will immediately hit the market, as some are held by promoters. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/21-billion-worth-shares-of-38-companies-may-enter-market-by-november-as-ipo-lock-in-expires/articleshow/113059194.cms |
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September seasonality weighs on SBI, other PSU bank stocks. Should you buy, hold or sell?Historically, September hasn’t been kind to these three banks. BoI has seen declines in 9 out of the last 10 Septembers, while SBI and Bank of Maharashtra have fallen 8 times each during the same period. On average, their September returns are negative, with BoI at -7.7%, SBI at -3.4%, and Bank of Maharashtra at -3.7%. The most significant drop occurred in 2020, during the Covid-19 pandemic, with losses ranging from 18% to 23%. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/september-seasonality-weighs-on-sbi-other-psu-bank-stocks-should-you-buy-hold-or-sell/articleshow/113067771.cms |
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PN Gadgil Jewellers IPO to open on September 10. Check detailsPN Gadgil Jewellers, Maharashtra’s second largest organised jewellery player, will launch its IPO on September 10, aiming to raise Rs 1100 crore. The funds will be used for opening new stores, debt repayment, and general corporate purposes. The company has shown significant growth in revenue and profit over recent years. Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/pn-gadgil-jewellers-ipo-to-open-on-september-10-check-details/articleshow/113071137.cms |
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2-, 10-year Treasury yields end at lowest levels since 2023 on fears of weakening economyYields on 2- and 10-year U.S. government debt finished Wednesday’s session at their lowest levels since May and July of 2023, after job-openings data reinforced investors’ concerns about a slowing U.S. economy. Read more at: https://www.marketwatch.com/story/treasury-yields-slip-as-fears-build-over-u-s-economic-downturn-de05a177?mod=mw_rss_topstories |
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Kamala Harris backs smaller rise in capital-gains taxes than proposed by BidenDemocratic presidential nominee Kamala Harris on Wednesday backed a lower top tax rate for capital gains than President Joe Biden has proposed, with the move coming after her campaign previously had signaled agreement with Biden’s stance. Read more at: https://www.marketwatch.com/story/kamala-harris-backs-smaller-rise-in-capital-gains-taxes-than-proposed-by-biden-484467f7?mod=mw_rss_topstories |
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‘We’re happily married, mediocre gay men’: We’re 58, earn $160,000 and saved $2.2 million. We grew up poor. Our families treat us like ATMs. Are we OK?“Our relatives are very poor, and our acquaintances are either single men getting by paycheck-to-paycheck, very successful professionals or trust-fund babies.” Read more at: https://www.marketwatch.com/story/were-happily-married-mediocre-gay-men-were-58-earn-160-000-and-saved-2-2-million-we-grew-poor-and-our-families-treat-us-like-atms-are-we-ok-0f948192?mod=mw_rss_topstories |
