Category: Latest News
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Nasdaq Extends Winning Streak But Dow, S&P 500 Give Back Ground
After failing to sustain an early move to the upside, stocks gave back ground over the course of the trading session on Thursday. The major averages pulled back well off their highs of the session, with the Dow and the S&P 500 ending the day in negative territory. The Dow jumped by nearly 180 points…
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Crypto This Thursday: Lufthansa Launches NFTs, Uniswap Acquitted in Court Case, and More
New York court classifies Ether and Bitcoin as ‘commodities’ and dismisses case against Uniswap A New York court has defined Ether (COIN:ETHUSD) and Bitcoin (COIN:BTCUSD) as commodities and has ruled out a class action lawsuit against cryptocurrency exchange Uniswap. The lawsuit alleged that Uniswap had violated US securities laws, but Judge Katherine Polk Failla stated that…
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U.S. Stocks May Extend Recent Upward Trend In Early Trading
US Market The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to extend the upward trend seen over the past few sessions. The markets may benefit from recent upward momentum, which has propelled the major averages to a four-session winning streak. Recent economic data adding to optimism…
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PCE Rises 0.2% In July And Rises To 3.3% Year-On-Year; PCE Core Reaches 4.2%
The Personal Consumption Expenditure Price Index (PCE) in the United States increased by 0.2% in July in the monthly comparison, according to information released by the US Department of Commerce this Thursday (31). In June, the change was 0.2%. With this, the annual variation of the PCE was 3.3% in July, from 3.0% registered in…
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Initial claims for unemployment insurance fall to 228,000 in the US
The US Department of Labor announced on Thursday (31) that new jobless claims fell to 228,000 for the week ended August 26. The number was below market expectations, which expected 235,000 new orders. In the previous week, claims totaled 230,000, according to revised data.
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Gold Stabilizes Near One-Month Highs as U.S. Interest Rate Hike Expectations
Gold (AMEX:GLD) maintained its position near one-month highs on Thursday, cushioning the losses incurred over the course of this month. This shift came as the likelihood of another U.S. interest rate hike was diminished by recent data indicating a slowdown in the labor market. Traders are closely monitoring the imminent inflation report. Around 1003 GMT,…
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Dollar General Lowers Annual Sales Forecast as Inflation Pressures Weigh on Customers
On Thursday, Dollar General (NYSE:DG) reduced its annual forecast for same-store sales as it anticipates customers will continue feeling the strain from persistently high inflation and pull back on discretionary spending. The company, headquartered in Goodlettsville, Tennessee, has seen its shares fall about 36% this year, dropping by 14% in pre-market trading. According to Refinitiv…
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Microsoft To Unbundle Teams From Office In Bid To Allay EU Antitrust Concerns
Microsoft (NASDAQ:MSFT) has announced its intention to decouple its chat and video application, Teams, from its Office suite, making it more compatible with competing software products. This move, revealed on Thursday, is a strategic response to potentially avert an antitrust penalty from the European Union. This decision comes a month after the European Commission initiated…
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UBS Will Absorb Credit Suisse; UBS Profit Soars In 2Q23
UBS Group (NYSE:UBS) said on Thursday it will fully absorb Credit Suisse’s domestic bank – a decision that comes despite a likely backlash in Switzerland, where it could result in the loss of thousands of jobs. Shares in UBS Group AG were up about 6 percent in Swiss morning trade, as well as 5 percent…
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Salesforce Rises 5% Following Strong Earnings Report
Salesforce (NYSE:CRM) saw a 5% increase on Thursday after its robust earnings report indicated that cost-cutting efforts were effective and demand was holding up better than expected in a tumultuous economy. The business software company behind workplace messaging tool Slack and data analytics platform Tableau is set to add around $10 billion to its market…