Category Archive: Finance, No picture
WTI Hovers Around $78.00, Steadies Ahead Of US PCE Inflation
Image Source: Unsplash WTI price remains on track for a third straight week of decline on Friday. Chinese growth concerns put pressure on crude Oil prices. Oil demand could be affected due to diminished odds for the Fed rate cuts in September. West Texas Intermediate (WTI) Oil price holds mild losses, possibly driven by better-than-expected US economic […]
IBM Beats Q2 Earnings On AI Growth: ETFs To Buy
Image Source: UnsplashAfter the closing bell on Jul 24, International Business Machines (IBM – Free Report) reported strong second-quarter 2024 results. It beat estimates for earnings and revenues, citing rising customer demand for new AI projects. IBM shares spiked 4% in aftermarket hours. Investors seeking to tap the strength could consider ETFs having the highest allocation to this tech […]
Bitcoin and Ethereum top client interest with ‘very little’ demand for other crypto ETFs: BlackRock Head of Digital Assets
Key Takeaways BlackRock’s Mitchnick highlighted that their client base is predominantly interested in Bitcoin, with some interest in Ethereum. BlackRock considers Bitcoin and Ethereum as complementary assets with distinct roles. The SEC’s greenlight for spot Ethereum ETFs has sparked optimism about the future of other crypto ETFs, with some anticipating that Solana funds will be […]
The Market Takes A Sledgehammer To Tesla Shares
Image Source: PexelsBack in 2020, EV automaker Tesla (TSLA) and its CEO Elon Musk were on top of the world.TSLA’s share prices were surging higher and higher. Musk’s tweets were making daily headlines. And the company’s Model 3 was quickly becoming one of the hottest cars in America.But even at TSLA’s peak, Musk knew exactly how […]
Homebuilder Inventory Of Started But Unsold Homes Is The Highest Since 2008
Image Source: UnsplashThe homebuilders’ inventory of started but unsold homes is steeply rising as sales drop. It will take price cuts to clear inventory.Data from the census department, chart by MishNew Residential ConstructionYesterday, the Census Department released the New Residential Construction report for June. New Home Sales: Sales of new single-family houses in June 2024 were at a […]
Tesla And BYD Claim A Third Of Global EV Market
Image Source: UnsplashIn the second quarter of 2024, Tesla’s gross margin dropped to a new low after declining every quarter since Q1 2022. Thanks to an uptick in deliveries over the past months, the U.S. automaker and pioneer of getting battery electric vehicles (BEVs) to the mass market still retained the biggest market share among all BEVs sold worldwide. In the past […]
Grayscale Ethereum ETF bleeds Thursday, outflows exceed $1 billion since debut
Key Takeaways Grayscale’s Ethereum ETF saw $346 million in net outflows on its third day of trading. BlackRock’s iShares Ethereum Trust led the pack with $71 million in inflows. Grayscale’s Ethereum ETF (ETHE) ended Thursday with $346 million in net outflows, extending its losses to $1.1 billion within three trading days since its conversion, data […]
AUD/USD Trades With Modest Gains Above Multi-Month Low, Focus Remains On US PCE Data
Image Source: Unsplash AUD/USD attract some buyers and snaps a nine-day losing streak to its lowest level since early May. A modest recovery in the equity markets undermines the USD and lends some support to spot prices. China’s economic woes might cap gains as traders now await the release of the US PCE Price Index. The AUD/USD pair […]
Asia Morning Bites For Friday, July 26
Image Source: Unsplash Global Macro and Markets Global Markets: US treasury yields were flat at the 2Y part of the curve yesterday, but they dropped a little further at the back end. 10Y yields fell 4.3 basis points, taking the yield down to 4.241%. This occurred despite some stronger 2Q24 GDP data and also some stronger quarterly […]
DECK, SKX Higher After Earnings; PCE On Tap Friday
Image Source: UnsplashIt’s tough to get a firm handle on this market. One day it looks like a trading rotation into undervalued equities from big run-ups elsewhere, the next day it’s a major selloff across the board. This day, we were back to the “rotation” scenario: the Dow gained +81 points, +0.20%, and the small-cap Russell […]
