Author: Bruno T
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Oil Futures End The Day Higher With Optimistic Forecasts For The US Economy
Oil futures prices ended the day higher after falling earlier in the morning. The reversal was caused by the US Government’s Energy Information Administration’s optimistic projection of demand and the economy.“A monthly report by the agency projected that Gross Domestic Product (GDP) growth would increase by 1.9% in 2023, up from 1.5% in a previous…
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Generative AI Market To Hit $1.3 Trillion By 2032, Says BlackRock
The artificial intelligence (AI) market will reach $1.3 trillion by 2032, according to the projection of Jeff Spiegel, head of Megatrends and international ETFs at BlackRock. According to him, in 2022, this market was valued at around US$ 40 billion. During a panel at the TAG Summit, held today by the manager TAG Investimentos, Spiegel…
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European Stocks Close Lower, Driven By Banks And China
European stock markets closed lower today, extending the losses of the previous session, pressured by bad balance sheets, such as that of Glencore, whose profit fell by half because of the drop in demand in China. The weak data of the Chinese trade balance, published at dawn, also pressured the main indices. Bank shares fell…
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Moody’s Downgrades US Banks Over Rising Costs And Office Exposure
Moody’s Investors Service has downgraded the credit ratings of 10 small and medium-sized U.S. banks and said it may downgrade larger creditors, including the U.S. Bancorp (NYSE:USB) , Bank of New York Mellon Corp (NYSE:BK), State Street Corp (NYSE:STT) and Truist Financial Corp (NYSE:TFC), as part of a comprehensive review of mounting pressures on the…
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US Trade Balance Posts $65.5 Billion Deficit In June
The US trade balance registered a deficit of US$ 65.5 billion in June, after showing a deficit of US$ 68.3 billion in May, according to the country’s Department of Commerce. Analysts had expected a $65.0 billion deficit in June. Exports totaled US$ 247.4 billion in June, which represents a drop of 0.14% in relation to…
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Week Ahead: Inflation In The United States And China Are The Highlights Of The Week
The forthcoming week will have global financial markets keenly observing the US inflation report slated for release on Thursday, as well as the ongoing earnings season. Market participants in the US will be watching producer prices and the Michigan Consumer Sentiment in addition to notable updates from China regarding its inflation and trade data, GDP…
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Payroll: US Creates 187,000 Jobs In July, Below Market Expectations
The United States created 187,000 jobs in July, according to the employment report (payroll) this Friday (4), released by the US Bureau of Statistics. The unemployment rate, in turn, stood at 3.5% in the last month, compared to 3.6% in June. The number came below the expectations of economists, who predicted the creation of 200,000…
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Apple Sees Drop In Demand For Smartphones In Its Fiscal Third Quarter
Apple (NASDAQ:AAPL) has been able to boost its revenue from services, including advertising, payments, video streaming and cloud storage, in a long-standing strategy to offset slumping demand for smartphones. But the advance in services was not enough to cushion the global retreat in sales of smartphones, which collaborated with the drop in the company’s revenue…
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Amazon Expands Revenue And Has Higher-Than-Expected Q2 Profit
Amazon (NASDAQ:AMZN) reported net income of US$ 6.75 billion and earnings per share of US$ 0.65 in the second quarter of 2023. The result was above the forecast of analysts consulted by Factset, of earnings per share of US$ 0.35 . In the second quarter of 2022, the company lost $2 billion, or $0.20 per…
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New York Stocks Rise Supported By ‘Big Techs’
Wall Street’s main stock indexes rose on Wednesday, supported by ‘big techs’, who advance in the wake of the disclosure of balance sheets. Thus, the Nasdaq is the positive highlight of the trading session. One day after the Federal Reserve (Fed) raised interest rates as expected, the risk sentiment is also supported by the Gross…