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Kamala Harris Just Released Her Economic Plan
KEY TAKEWAYS Vice President Kamala Harris laid out her economic agenda Friday, promising tax breaks for middle-class families and to crack down on companies raising rent and grocery prices. Many of Harris's proposals expanded on policies proposed by President Joe Biden. Harris's agenda contrasts with Republican opponent Donald Trump, although the two campaigns have some…
August 18, 20246 minRead time
News
Euro and Pound Strengthen as Lower US Inflation
Favorable market conditions in the eurozone and the UK and lower US inflation could prompt the US Federal Reserve to consider rate cuts. As the euro and pound strengthen, the Fed might feel pressured to adjust rates to maintain the competitiveness of the dollar. Both the euro and stock markets across Europe climbed following the…
August 15, 20245 minRead time
Stocks
Home Depot Lowers Its Comparable Sales Outlook
KEY TAKEWAYS Home Depot shares edged lower in early trading Tuesday despite a second-quarter earnings beat as the home-improvement giant lowered its 2024 comparable sales guidance. Home Depot now sees full-year comparable sales down 3% to 4% from fiscal 2023, worse than its previous guidance of a 1% decline. CEO Ted Decker said consumers continue…
August 14, 20242 minRead time
News
Can the ‘Magnificent Seven’ Stocks Recover?
KEY TAKEWAYS The "Magnificent Seven" on Friday notched their fifth consecutive week of losses, the group's longest losing streak since 2022. The group has been hammered in recent weeks by fears about a U.S. recession fears and overspending on artificial intelligence. Analysts have mostly characterized the recent selloff as a natural pullback that, to some,…
August 11, 20245 minRead time
Stocks
Siemens Reports 11% Profit Increase in Q3
The German tech giant reported a profit that was 11% higher than that recorded in the same period last year. Siemens announced on Thursday that it had made an industrial profit of €3.3bn during the third quarter of the year, beating a forecast of €2.84bn given by company analysts. The 11% year-on-year jump was boosted…
August 10, 20242 minRead time
News
Global Markets Plunge as US Recession Fears Intensify
Fears of a US recession are driving global market sell-offs. Equities dropped sharply, the dollar weakened, and bonds and the yen strengthened. Global financial markets are witnessing a wave of risk aversion, intensifying dynamics that had already begun to emerge late last week when disappointing US economic data sparked fears of a recession in the…
August 5, 20247 minRead time