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Banking

“Federal Reserve lowers interest rates by 0.50 percentage points in first cut since 2020”

“The Federal Reserve on Wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything… Continue Reading…

Economy

“Annual inflation rate slows to 2.9% in July, lowest since 2021”

“The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate at 2.9%, its lowest since March 2021. Excluding food and energy, core CPI came in at a… Continue Reading…

Economy

“Inflation milestone: Consumer Price Index slows below 3% for first time since March 2021”

“Price hikes slowed more than expected in July, and, for the first time in more than three years, the Consumer Price Index has landed below 3%. That paves the way for the Federal Reserve to cut rates next month after… Continue Reading…

Cryptocurrencies

“Bitcoin briefly tumbles below $50,000 for the first time since February” [Aug 5 2024]

“Bitcoin dipped to $49,111.10 at one point — its lowest level and first time under $50,000 since February — after trading close to $70,000 a week ago. The moves follow a broader market sell-off that began last week, when a… Continue Reading…

Stocks

“Dow tumbles 1,000 points, S&P 500 posts worst day since 2022 in global market sell-off…” [Aug 5 2024]

“Stocks fell sharply on Monday, with the Dow Jones Industrial Average posting its worst day in nearly two years, as worries over the health of the U.S. economy sparked a global market sell-off. The Dow dropped 1,033.99 points, or 2.6%, to end at 38,703.27.… Continue Reading…

Stocks

“Tesla shares close down 12% after earnings miss for biggest slump since 2020”

“…The stock closed down 12% on Wednesday at $215.99. It’s now down 13% for the year, while the Nasdaq is up 16% over that stretch. Tesla on Tuesday said auto revenue declined 7% from a year earlier to $19.9 billion while margins… Continue Reading…

Stocks

“Vanguard Has Upped Its Bet on AMC Stock by 23% Since the End of Q1”

“Shares of AMC Entertainment (NYSE:AMC) stock are in the spotlight following a Schedule 13G update from Vanguard. As of the end of the first quarter, Vanguard owned 24.80 million shares of AMC stock. The investment services company revealed in a filing that it now owns 30.51 million… Continue Reading…

Business, Stocks

“Salesforce shares tumble 20%, on pace for worst day since 2004”

“Shares of Salesforce tumbled 20% Thursday morning, putting the stock on pace for its worst day in nearly 20 years. Its worst trading day on record is July 4, 2004, when shares fell 27% just days after the company went public. The… Continue Reading…

Stocks

“Apple stock has best day since 2022 after earnings beat, $110 billion stock buyback”

“Apple shares popped 6% Friday after the company reported better-than-expected second-quarter earnings and the largest-ever stock buyback program. It was the best day for the stock since Nov. 30, 2022. The iPhone maker announced Thursday it would repurchase $110 billion of its shares,… Continue Reading…

Business, Stocks

“Trump Media is up 92% since launching a crusade against short sellers”

“…The parent company of Donald Trump’s Truth Social released a press release on Monday, explaining to its retail investor base how to recall shares from short-sellers. “TMTG wants to clarify that if shares are currently on loan by brokerage firms to facilitate… Continue Reading…