ADVFN US – Market Content Editor
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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…
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Thursday’s Wall Street Highlights: UBS, Microsoft, Shopify, Salesforce, Okta and more
US index futures were mixed in premarket Thursday, with traders awaiting further US indicators and mulling over eurozone inflation data and UBS’s first earnings after the Credit Suisse acquisition. By 6:51 AM, Dow Jones (DOWI:DJI) futures were up 109 points, or 0.31%. S&P 500 futures were up 0.07% and Nasdaq-100 futures were down 0.11%. The 10-year Treasury yield…
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North American Morning Briefing: PCE Inflation Data Awaited
Market Wraps Watch For: Personal Income for July; Weekly Jobless Claims; earnings from Broadcom, VMware, Dell Technologies, Lululemon, Dollar Genera, Campbell Soup Today’s Headlines/Must Reads – Americans Likely Increased Their Spending Significantly Last Month – China’s Economy Shows Fresh Signs of Weakness in Factories, Consumer Spending – Arm, Instacart, Klaviyo Prep for Their IPOs-With Caution…
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US Futures Rise, European Stocks Mixed
In the U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average increased 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 was flat in morning trading. UBS Group added 5.5% and Rockwool Series B climbed 4.5%. On…