Japan’s Nikkei 225 tumbled over 4% on Monday, following a mixed set of economic data out of Japan and as traders reacted to the election of incoming Prime Minister Shigeru Ishiba. Japan’s August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. Ishida had … Read more
Sales of foreign-branded smartphones, including Apple Inc (NASDAQ:AAPL)’s iPhone, in China fell 12.7% in August year-on-year, according to data released on Wednesday from a government-affiliated research firm. Calculations based on the data from the China Academy of Information and Communications Technology (CAICT) showed that during the month, sales of foreign-branded phones in China fell to … Read more
According to Bernstein in a note Monday, several factors are driving this surge, from macroeconomic changes to shifts in market sentiment. Here are the five key reasons behind Bitcoin’s latest rally, as outlined by Bernstein: Rate Cuts and Inflation Hedging The recent 50 basis point rate cut by central banks has impacted markets, with Bitcoin benefiting from a weaker dollar and loose monetary … Read more
Stocks on Wall Street soared Thursday a day after the Federal Reserve slashed its benchmark interest rate by 0.50 percentage points, with investors cheering the central bank’s move to head off a slowdown in U.S. economic growth. The Dow Jones Industrial Averages jumped 479 points, or 1.1%, closing at 42,025. The S&P 500 climbed 95 points, … Read more
Gold rate today: After an aggressive US Fed rate cut of 50 bps, gold price witnessed a sharp upside rally last week as the US dollar rates came under pressure after this US Fed meeting outcome. Spot gold price peaked at 2,625 per troy ounce before the market closed on Friday. On MCX, the gold rate finished at ₹74,014 per 10 … Read more
