News

Posted on April 16, 2024 by James Miller

U.S. stocks slid on Monday as surging bond yields, sparked by stronger-than-expected retail sales, heightened concerns that the Federal Reserve may keep interest rates high for longer.  The S&P 500 and the tech-heavy Nasdaq retreated, dragged down by major tech companies like Microsoft, Apple, and Nvidia. Amid rising market volatility, the VIX—Wall Street’s “fear gauge”—soared […]

Posted on April 12, 2024 by James Miller

The dollar soared in response to potential European Central Bank (ECB) rate cuts, causing the Japanese yen to hit a new 34-year low. This dynamic shift occurred as the ECB signaled possible rate reductions this summer, contrasting with the U.S. Federal Reserve’s more cautious stance due to persistent economic heat in the U.S. The euro […]

Posted on April 12, 2024 by James Miller

Chinese regulators are investigating Dawning Information Industry Co., a leading AI and computing firm, after discovering unauthorized stock trades by the chairman’s wife, Zhang Dihua. Dihua traded 150 million yuan ($21 million) of company stock, profiting 590,000 yuan through 232 trades between March 2023 and March 2024, a period during which the company’s stock value […]

Posted on April 9, 2024 by James Miller

European markets experienced a slight decline on Tuesday, with investors on edge ahead of upcoming U.S. inflation data and a European Central Bank decision. Despite this, diagnostics company Biomerieux saw a jump following the announcement of its new strategic plan. After a strong session on Monday, the pan-European STOXX 600 index fell by 0.2%. Maximilian […]

Posted on April 5, 2024 by James Miller

In a significant vote of confidence on Wed., April 3, Disney CEO Bob Iger withstood a challenge from activist investors led by Nelson Peltz, ensuring continued support for the company’s current management team.  The dispute centered on the direction of Disney’s succession planning and its diversity initiatives, with shareholders ultimately siding with Iger. The resolution […]

Posted on April 4, 2024 by James Miller

Foreign investors pulled out 1.18 trillion yen ($9.07 billion) from Japanese stocks last week, marking the largest outflow since September 2023 The withdrawal from Japanese stocks was accompanied by a notable sell-off in derivative contracts, with foreign investors selling a net 967.32 billion yen, the largest in nine weeks.  Additionally, approximately 213 million yen was […]

Posted on April 4, 2024 by James Miller

Housing affordability remains a critical issue for many Americans. A new report reveals that households with an income of $100,000 still struggle to afford a median-priced home in over half of the country’s housing markets. According to a study by the National Association of Realtors, only 45% of the 208 metro areas analyzed were considered […]

Posted on April 3, 2024 by James Miller

Unexpectedly strong economic indicators, such as U.S. job openings and factory orders exceeding forecasts, have dampened optimism about the Federal Reserve’s pace of interest rate cuts.  Analysts and traders hoping for easing were taken aback by data suggesting a more resilient economy. This resilience has pushed yields on 10-year Treasury bonds to their highest since […]

Posted on April 2, 2024 by James Miller

Copper prices surged above $9,000 a ton, fueled by promising manufacturing data from China and the potential for cutbacks in production by the country’s leading smelters.  The positive momentum comes as China’s official manufacturing purchasing managers index for March hit its highest level in a year, signaling robust economic recovery. In the U.S., a factory […]

Posted on April 1, 2024 by James Miller

Trafigura has agreed to a plea deal with the US Department of Justice, paying $127 million to resolve bribery charges.  The settlement, announced on March 28 in a Miami federal court, includes a $80.4 million fine and a $46.5 million forfeiture.  This marks the first time the commodity trading company has admitted to such practices. […]