Tag Archives: Market News

Tesla is likely to decide on a breakthrough method of die casting multiple sections of its EVs to reduce cost and improve production. Tesla Inc (NASDAQ: TSLA) has reportedly figured out a technological breakthrough that will transform the process of making electric vehicles. Fine-tuning the process will help Tesla cut production costs considerably. Tesla stock closed 1.75% higher at $276.04 on the news. Five people familiar with the matter spoke with Reuters anonymously. According to these...

High energy prices can have a cascading effect on other sectors of the economy, contributing to the overall rise in consumer prices. The European Central Bank (ECB) has announced its 10th consecutive hike in its main interest rate. This decision has catapulted the Central Bank’s main deposit facility rate from -0.5% in June 2022 to a historic 4%. The ECB’s Commitment to Tackling Inflation While this decision may seem drastic, it reflects the ECB’s unwavering commitment to controlling...

Prices of oil in the US hit a 10-month high as oil shortages are expected until the end of the year following Russia and Saudi output cuts. In response to fears of weaker supply, the prices of oil rose on Thursday. The West Texas Intermediate (WTI) crude climbed 1.6% to $90.04 per barrel, its highest point since November last year. Brent crude also sold at a 10-month record of $93.23 after rising 1.5%. The impact of the increase in crude prices may be stiff on the economy as gasoline...

Core inflation in August rose as the CPI showed price increases across several points, including energy, housing and airfares. Core inflation in August saw its largest monthly increase for the year as consumer prices rose on housing, energy, and many other items. According to the United States Department of Labor, the consumer price index (CPI) rose 0.6%, seasonally adjusted, up 3.7% from the same period last year. Economists polled by Dow Jones had predicted that the CPI would increase...

Currently, Inditex has outlets in about 213 countries globally and only a low market share in many of them. Consequently, the company notes it has strong growth potential in many countries where it has an office. Fast fashion company Inditex has posted a net profit of $2.7 billion for the six months to July 31. The Zara owner posted its records on Wednesday, exceeding expectations with its 40% profit jump. Inditex sales rose 13.5% to 16.9 billion euros and a gross margin of 58.2%....

While Bitcoin maintains its stability amid inflationary concerns and economic data releases, other cryptocurrencies face a different fate. In recent months, the world has witnessed a significant degree of financial turbulence as it relates to dwindling crypto prices and concerning Consumer Price Index (CPI) data. One key aspect of this turbulence has been the seesawing prices of cryptocurrencies, a phenomenon that has left many investors and analysts speculating about the future of digital...

Hashdex’s rivals, such as Ark Invest and 21Shares, have also approached the SEC with their separate applications for spot Ether ETFs. Popular US-based stock exchange Nasdaq has formally filed an application with the Securities and Exchange Commission (SEC) seeking approval to list an Ethereum (Ether) Exchange-Traded Fund (ETF). This innovative investment vehicle is crafted to combine spot ether holdings and futures contracts within its portfolio, paving the way for a novel approach to...

Financial giant Franklin Templeton has applied to the SEC for approval to launch a Bitcoin exchange-traded fund (ETF) named the Franklin Bitcoin ETF, with Coinbase as the custodian and trading on the Cboe BZX Exchange. Asset manager Franklin Templeton, a financial giant managing over $1.4 trillion on behalf of its clients, has submitted an application to the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF). According to the filed application, the...

Rather than backtracking trade activities after the fraud has occurred, the CFTC commissioner believes the focus should be on preventing them. A commissioner of the Commodity Futures Trading Commission (CFTC), Christy Goldsmith Romero has proposed several measures to improve investor protection. Romero made the proposal while speaking at the North American Securities Administrators Association’s annual meeting in California. According to the Federal Trade Commission, Americans reportedly...

As investors brace themselves for another week of market volatility and unsteady stock futures, all eyes are on the crucial economic data releases that could have a profound impact on the financial landscape. This morning marked a cautious start for investors as stock futures presented a mixed outlook following a positive day on Wall Street. Overview of the US Stock Futures Market As the US stock market opened, futures tied to the Dow Jones Industrial Average (INDEXDJX:.DJI) took a...