Tag Archives: Market News

Several Wall Street Banks, including Goldman Sachs, have cut their outlook on growth in China as the economy struggles. Leading global investment banking and management firm Goldman Sachs has joined several Wall Street banks to reduce its growth outlook for China. This downgrade comes as the East Asian powerhouse is experiencing a dwindling economy as it battles the effects of the coronavirus pandemic. Goldman Sachs reduced the growth outlook for China’s full-year 2023 GDP (gross...

Among other items on his itinerary, Bill Gates visited Xi Jinping in Beijing. However, specific details about their discussions is unknown. Microsoft co-founder Bill Gates met Chinese President Xi Jinping in Beijing on Friday. The talk between them comes on the third day of Gates’ visit and one day after his meeting with the mayor of Beijing, Yin Yong. Although there are no official details of Bill Gates’ meeting with President Xi Jinping, the meeting with the Beijing mayor reportedly...

Adobe is making a significant leap forward by integrating generative AI features into its product offerings. In a significant development for the technology industry, Adobe Inc (NASDAQ: ADBE) the renowned software company, has announced a raised full-year revenue and profit outlook. The optimistic projection is primarily driven by the company’s assumption that the incorporation of generative artificial intelligence (AI) technologies into its software solutions will fuel growing demand....

Following the Fed interest rate pause announcement, the price of BTC broke major price support, raising concerns about a continued decline. The Federal Reserve announced on Wednesday that it would maintain its interest rate at 5.25%, marking the first time since January 2022 that the rate would remain unchanged. According to the Fed, the inflation rate appears to be decreasing, and it wants to see whether previous rate increases were sufficient to slow price increases. However, it was...

Data has shown that the US Treasury yields fell as the traders and investors expect the Fed to either increase or postpone a rate hike. US Treasury yields fell on Wednesday as the market anticipates the Federal Reserve’s decision on subsequent interest rate hikes. The 2-year Treasury yield fell to 4.656%, losing 4 basis points, while the10-year Treasury yield fell to 3.808% after losing 3 basis points. Traders generally expect the Fed to resume rate hikes by July, with a 63% chance that...

As inflation slows, the European Central Bank (ECB) may halt future rate hikes, with the upcoming staff projections and rate decision playing a crucial role in determining the bank’s approach. Central banks across the world have been hiking interest rates in order to tame the soaring inflation. However, as inflation shows signs of slowing down, the European Central Bank (ECB) could soon bring an end to future rate hikes. The ECB is likely to increase its benchmark policy by an additional...

On Tuesday, June 13, the markets reacted positively to the publication of inflation data. The inflation rate in the United States increased by 0.1% in May. This inflation figure represents a 4% increase over the past 12 months, which meets the economic expectations of the Fed. But will it be enough for the Federal Reserve to slow down its aggressive monetary policy? According to the Consumer Price Index Summary report for May, published by the US Bureau of Labor Statistics, inflation...

The crypto market has turned bearish since the SEC charged Binance and Coinbase with listing unregistered securities last week. The cryptocurrency market is in a crucial growth phase that could significantly determine the winners of blockchain mainstream adoption. The fact that different countries are coming up with respective crypto policies is a true testament that there is a need for an update on the decades-old financial systems. Notably, Europe, Hong Kong, Middle East countries, El...

MANU stock price surged by a staggering 30% as the news emerged of Sheikh Jassim being the preferred bidder of the Premier League soccer club. On Tuesday, June 13, the shares price of Manchester United (NYSE: MANU) popped up by a massive 30% in the pre-market hours on the New York Stock Exchange. The recent surge happened after Qatari media suggested Sheikh Jassim bin Hamad al-Thani is likely to succeed with his takeover bid. On Tuesday, Qatar’s local news publication Al-Watan reported...

Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US. Binance.US has told its customers that they may not be able to buy crypto with their US dollars from June 13. The Thursday announcement follows after the Securities and Exchange Commission (SEC) filed a lawsuit against the exchange and its founder Changpeng Zhao (CZ) on Monday. SEC insists that Binance had violated the country’s securities laws. The exchange, on the other hand, says...