CME Financial News

US job openings fell for a third straight month in July as the labor market gradually slows, but conditions remain tight, likely ensuring that the Federal Reserve would keep interest rates high for some time. Job openings, a measure of labor demand dropped 338,000 to 8.827 million on the last day of July, the lowest level since March 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Data for June was revised lower to show 9.165 million job openings instead of the previously reported 9.582 million. Economists polled by Reuters had forecast 9.465 million job openings in July. The labor market has remained resilient despite 525 basis points in interest rate hikes from the Fed since March 2022, in part as employers filled positions, which opened up during the COVID-19 pandemic.

SEC) wrongly rejected an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin. The case is being closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. They say it would allow investors to gain exposure to bitcoin, the world's largest cryptocurrency, without having to own it. The SEC, though, worries spot bitcoin ETFs will be vulnerable to manipulation.

(Reuters) — U.S. stock index futures were subdued on Tuesday in a data-packed week, with job openings figures due later in the day that will provide further clues on the state of the economy.

By Hannah Lang

The dollar index, which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday.

By Joice Alves and Ankur Banerjee

dollar eased from a 12-week peak on Monday as traders weighed the U.S. monetary path after the Fed Chair Jerome Powell left open the possibility of further interest rate increases, while the yen hovered close to its lowest in over nine months. In an eagerly awaited speech at the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chair Powell promised to move with care at upcoming meetings as he noted both progress made on easing price pressures as well as risks from the surprising strength of the U.S.

The fading of some positive legal and regulatory news induced a wave of selling in recent weeks that is “still reverberating,” though the unwinding appears to be at its end phase, based on open interest in CME Bitcoin futures contracts, analysts including Nikolaos Panigirtzoglou wrote on Thursday. A decline in open interest — the number of unsettled and active future contracts trading on exchanges — typically indicates a price trend is losing strength. “As a result, we see limited downside for crypto markets over the near term,” they said. Bitcoin, the largest crypto token, was down 0.2% at around $25,980 as of 11:30 a.m. in New York on Friday. In the past two weeks, it has fallen almost 12% after trading sideways for about a month.

Gold rate today: Following mixed trend throughout the week as investors were waiting for the final outcome of Jackson Home meeting. However, the yellow metal continue to bounced back from the lower support levels and its crucial ₹58,000 per 10 gm levels on Multi Commodity Exchange (MCX) and $1,900 per ounce levels in international market remained sacrosanct.

As Bitcoin sees a 1% surge, speculations arise regarding the potential involvement of whales, given a massive $10 billion injection into BTC. 

economic activity. Demand for workers has cooled but if that process stalls, the Fed could have to raise rates, he said. After this speech, investors in interest-rate futures markets saw a nearly 20% chance that the Fed would raise rates at its next meeting, Sept.

NEW YORK (Reuters) — Interest rate futures tied to the Federal Reserve's policy rate slightly increased the chances of tightening by the U.S. central banks at both the November and December policy meetings after Chair Jerome Powell's speech.

By Amruta Khandekar and Shristi Achar A

Potomac Wealth Advisors President Mark Avallone discusses whether the stock market rally will last after CPI data showed inflation slowed again in June on 'Varney & Co.' 

bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will fire up a moribund market. Their new platform is cryptocurrency exchange Coinbase Global, which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures to U.S.

bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will fire up a moribund market. Their new platform is cryptocurrency exchange Coinbase Global, which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures to U.S. retail customers. It's early days. But crypto markets are excited by the possibility that the first regulated and listed crypto firm to offer futures trading to U.S. retail investors might revive a shrinking $2 trillion cryptocurrency derivatives market. «Coinbase's approval to offer U.S. futures has the potential to rekindle hope and momentum in the market,» said Lucas Kiely, chief investment officer of digital investment platform Yield App.

By Amruta Khandekar and Shristi Achar A

Spot gold was up 0.3% at $1,896.70 per ounce by 1144 GMT, trading near its weakest level since March 15 of $1,888.30. U.S. gold futures steadied at $1,927.80.

Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia.

Investing.com — The Dow ended lower Tuesday, as an ongoing stumble in China's economy raised fears about global growth just as Treasury yields after stronger-than-expected consumer spending dented hopes that the Federal Reserve won't resume rate hikes later this year. 

producer price index, which measures inflation before it hits consumers, rose 0.8% last month from July 2022. The latest figure followed a 0.2% year-over-year increase in June, which had been the smallest annual rise since August 2020. While modest, the increase in wholesale prices last month could help persuade the Federal Reserve that its work on bringing inflation to heel isn’t done.