Usa Financial News

Bitcoin, Ether and other cryptoassets faced a sharp downturn on Monday over widespread risk aversion in global markets.

«I think it is really telling you, number one, there is a risk of a recession. I think it is premature to say that, but nevertheless there is a risk of a recession and in response to that risk, the Federal Reserve will reduce interest rates three times in 2024 and let us not forget there is the expectation that after reducing interest rates three times in 2024, the expectation is they will reduce interest rates four times in 2025 or one time each quarter,» says Hugh Johnson, Hugh Johnson Economics. What has changed so suddenly that the markets are now worried about growth, crisis, yen carry trade, just about everything has come together? Hugh Johnson: Well, I think, there always has to be some news of some sort that sort of touches off the correction and I think quite frankly the market had been a good market for a long time and it reached levels were a little bit pricier or overvalued, which made them very vulnerable to some bad news.

We believe there might be both time and price-wise correction in the days to come. As we have previously seen, DIIs are buying at every dip in the market, so the downside may be limited, said Dr Ravi Singh, Senior Vice President, Retail Research at Religare Broking. This analyst spells-out strategy in previous week’s major movers viz. Zomato, Adani Energy Solutions, Adani Wilmar and three more stocks. Here’s what he recommends: Edited excerpts:

The Topix and Nikkei 225 Stock Average fell about 5%, with the former set for a three-day decline that would be the worst since the 2011 Fukushima nuclear meltdown and put them near bear markets. A circuit breaker halted trading of Topix futures for about 10 minutes.

There is more than one way to skin a cat," goes an old English proverb, which means that there are many ways to accomplish the same task. In central bank-speak, the equivalent would perhaps be: “There is more than one way to effect a soft-landing," that holy grail of central banks the world over. For, going by their actions, especially in recent times, there is no single path to getting there.

B. Riley Wealth Management chief market strategist Art Hogan discusses how investors can make money in a turbulent market on «Making Money.»

Washington Post editorial writer and columnist Heather Long discusses the Federal Reserve's management of rate cuts and the impact of the July jobs report.

Paris Olympics 2024 entered their ninth day, the excitement continued to build with a series of thrilling events lined up for the day. Highlights include Novak Djokovic's maiden Olympic tennis title, Team India's historic win in men's hockey, and record-breaking performances in swimming. Here's a detailed look at what happened on Day 9.

Israel is already in a «multi-front war» with Iran and its proxies, Israeli Prime Minister Benjamin Netanyahu told a Cabinet meeting Sunday, as the United States and allies prepared to defend Israel from an expected counterstrike and prevent an even more destructive regional conflict. Tensions have soared following nearly 10 months of war in Gaza and the killing last week of a senior Hezbollah commander in Lebanon and Hamas' top political leader in Iran. Iran and its allies have blamed Israel and threatened retaliation. Hamas says it has begun discussions on choosing a new leader. Netanyahu said Israel was ready for any scenario. Jordan's foreign minister was making a rare trip to Iran as part of diplomatic efforts, while the Pentagon has moved significant assets to the region.

Hamas's political leader in an attack blamed on Israel has prompted fears of a wider regional conflict and sidelined talks aimed at ending the nearly 10-month war in Gaza. Since Hamas's deadly October 7 attack on Israel sparked devastating retaliation in Gaza, Qatar has acted as an important interlocutor with the Palestinian militant group. The movement's slain political chief Ismail Haniyeh was based in the Gulf emirate.

Man’s Search for Meaning (published in German in 1946, followed by an English translation in 1959), has long occupied a peculiar niche in the publishing industry. Part memoir, part moral philosophy and part psycho-social treatise, you are most likely to find the book in the all-encompassing self-help section, right next to the Dale Carnegies and the Steven Coveys of the world. And in a sense, Man’s Searchis indeed an amalgamation of all the above genres.

Fitch Ratings noted that elevated interest rates in the US since 2023 have begun to show some effect on the labour market and demand. Adding to worries, the global rating agency said politics remains an area of high uncertainty, with geopolitical risks here to stay. The rating agency noted that signs of a slowdown in the US are evident in weak credit growth and slowing consumer spending. This trend is expected to continue in the second half of 2024, with real GDP growth decelerating, though likely remaining above recession territory.

The NSE Nifty 50 fell 1.17% to 24,717 points, while the S&P BSE Sensex shed 1.08% to 80,981, logging losses for the first time in six sessions. They also ended an eight-week winning run, their longest in 14 years.

Brown Sauce, the two rappers flexing their lyrical muscles over choppy, twitchy percussion and the occasional burbling synth. Within two days, they’d written five tracks. They realised they had an album on their hands.

Jordan's foreign minister is expected in Iran on Sunday, as the United States and its Arab allies try to prevent a wider war after the back-to-back killings of top Iran-allied militants sparked vows of revenge against Israel. Ayman Safadi would be the first senior Jordanian official to pay an official visit to Iran in over 20 years. Jordan is a close Western ally and helped intercept scores of missiles and drones fired by Iran toward Israel in April. Iran said it was retaliating for the killing of its generals in an Israeli strike in Syria. Many fear Iran and its regional allies could launch a similar attack following the killing of a senior Hezbollah commander in an Israeli strike on Beirut last week and of Hamas' top political leader in an explosion in Tehran a day later. Both attacks were widely blamed on Israel, which has acknowledged killing the Hezbollah commander. Iran, Hezbollah and Hamas have vowed to avenge the killings.

report this week, the elderly are squirrelling away money, motivated by ever-longer retirements, the risk that they will need to pay for old-age care, the inevitable uncertainty about how long they will survive and the desire to pass on assets to their children. Whereas in the mid-1990s Americans aged between 65 and 74 spent 10% more than their income, the same age group has been a net saver, in aggregate, since 2015. A similar picture is found across the rich world, from Canada to Japan.

Which financial assets a central bank should buy and sell is hardly a novel question. Historically, the US Federal Reserve has focused on shorter-term Treasury securities, but quantitative easing had the Fed buying mortgage securities and quality commercial paper in vast quantities. Central banks often hold gold and foreign currencies.

Global equities turned lower on Thursday amid weak US manufacturing data, which raised doubts about the US economy and countered optimism about potential Federal Reserve interest rate cuts.

Alphabet-Wiz deal with interest was the potential fillip it could provide to M&A deals. According to a June report by consulting firm PwC, the number of M&A deals fell by 25% in the first half of 2024, compared to the year-ago period, a downward trend that began in 2022. "The daunting combination of high interest rates, current valuations and political uncertainty has been a showstopper for many deals," it said.

Middle East simmers with tension and stares at the possible Israel-Iran war, the United States announced plans to bolster its military presence in the region. Now the question is — Will it be 'Abraham Alliance' vs 'Axis of resistance' battle? Three US and Israeli officials told Axios that they expect Iran to launch an attack on Israel as early as Monday. This move comes in response to threats of retaliation from Iran and its regional allies following the killings of a Hamas leader in Tehran and a Hezbollah commander in Beirut, heightening fears of a broader conflict.