Wall Street Opens Higher; Moderna Shines After S&P 500 Inclusion. U.S. stocks started Friday on a strong note

By Geoffrey Smith  U.S. stocks started Friday on a strong note, with all three main indices rising after retail sales data for June showed the U.S. consumer still spending freely.  The Dow Jones Industrial Average was up 27 points, or 0.1%, while the S&P 500 was up 0.2% and the Nasdaq Composite was up 0.4%. They’re on track for their fourth… Continue reading Wall Street Opens Higher; Moderna Shines After S&P 500 Inclusion. U.S. stocks started Friday on a strong note

Chart Of The Day: USD/JPY Ignoring Diverging Macroeconomics

The USD/JPY looked to end a two-day selloff as it was trading higher at the time of writing, along with all the other yen crosses. The Bank of Japan surprised absolutely no one with its inaction. Governor Haruhiko Kuroda said nothing we didn’t already know, i.e. that the Japanese economy remains in a bad state but activity will be picking… Continue reading Chart Of The Day: USD/JPY Ignoring Diverging Macroeconomics

Stocks makes the biggest moves premarket.

Check out the companies making headlines before the bell: Moderna (MRNA) – The drug maker’s shares surged 7.3% in the premarket on news that the stock would be included in the S&P 500 as of July 21st. It will replace Alexion Pharmaceuticals, which is being acquired by AstraZeneca (AZN). Didi Global (DIDI) – Shares of the China-based ride-hailing company slid… Continue reading Stocks makes the biggest moves premarket.

Foreign travelers to China will be able to use the digital yuan, central bank says

KEY POINTS Mobile pay has grown rapidly in the last several years to become the dominant form of payment in China. However, the two primary mobile pay apps — operated by Tencent and Alibaba, respectively — typically require a connection with a domestic bank account, preventing foreigner travelers from using the apps easily. “Foreign residents… Continue reading Foreign travelers to China will be able to use the digital yuan, central bank says

Cryptocurrency Completely Failed As Payments System.

Federal Reserve chairman Jerome Powell has made several controversial comments related to cryptocurrencies in testimony before the Senate Banking Committee. Key Takeaways Federal Reserve chairman Jerome Powell said that cryptocurrencies had “completely failed” as a payment system in testimony before the Senate Banking Committee. He also discussed stablecoin regulation and the possibility of a digital… Continue reading Cryptocurrency Completely Failed As Payments System.

Amid Virus concerns dollar on track for weekly gain.

By Iain Withers The dollar was headed for a weekly gain on Friday, supported by investors’ drift toward safety as rising COVID-19 infections loomed over the pandemic recovery. The dollar index, tracking the greenback against major currencies, is on course for a 0.5% gain this week, which would be close to its biggest weekly gain in… Continue reading Amid Virus concerns dollar on track for weekly gain.

Joe Biden, Merkel have little time to rebuild ‘indispensable’ relationship

By Andrea Shalal and Jeff Mason The clock is ticking as President Joe Biden welcomes outgoing German Chancellor Angela Merkel to the White House on Thursday with both hoping to rebuild ties badly frayed under former President Donald Trump. The United States and Germany are key NATO allies but are at odds over a host… Continue reading Joe Biden, Merkel have little time to rebuild ‘indispensable’ relationship

S&P 500 Sidesteps Positive Earnings as Tech, Energy Slip

The major cap tech stocks struggled to keep up their recent moment. The S&P 500 fell Thursday, shrugging off another wave of mostly positive earnings as struggles in tech weighed on the broader market. The S&P 500 fell 0.50%, the Dow Jones Industrial Average lost 0.04%, or 14 points, the Nasdaq was down 0.91%. Banks continued to report quarterly… Continue reading S&P 500 Sidesteps Positive Earnings as Tech, Energy Slip

Crude Oil Weakens; U.S. Gasoline Stocks, Talk of OPEC Supply Weigh

By Peter Nurse    Crude oil prices slumped Thursday, weighed by the combination of a surprise rise in U.S. gasoline stocks and talk that OPEC+ is nearing a deal to increase supply onto the global market. By 9:45 AM ET (1345 GMT), U.S. crude futures traded 1.1% lower at $72.36 a barrel, on course for its worst week… Continue reading Crude Oil Weakens; U.S. Gasoline Stocks, Talk of OPEC Supply Weigh

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