The number of Americans who filed for unemployment benefits last week totaled 1.434 million, the Labor Department reported Thursday, roughly in line with expectations, as the coronavirus pandemic continues to ravage the U.S. economy. It was the 19th straight week in which initial claims totaled at least 1 million and the second consecutive week in which
Products are displayed in an Under Armour store in New York City, November 4, 2019. Brendan McDermid | Reuters Under Armour said Friday its fiscal second-quarter revenue fell 41%, but overall its results came in better than the retailer was expecting thanks to an e-commerce boost. The sneaker maker estimated roughly 80% of stores where its
Ethereum, a household name in the crypto industry, fired up its network on July 30, 2015, but what happened to the first ETH coin ever mined all those years ago? Blockchain analytics and Anti-Money Laundering company Coinfirm found out. “Another great example of the many benefits of blockchains such as Ethereum compared to the traditional
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NASDAQ comes off of premarket highs in early trading The day after the big 4 reported much better earnings across the board, the US stocks are opening higher but gains are being eroded in early trading. The NASDAQ index which I saw up as much as 220 points implied by the futures in premarket trading
Sustained selling around the USD assisted gold to catch some fresh bids on the last day of the week. A positive opening in the US equity markets prompted some profit-taking amid overbought conditions. Gold reversed a major part of its early positive move to all-time highs and has now retreated to the lower end of
Politico has some of the details Democrats blocked a week-long extension Republicans hinted at a four-month extension Pelosi said an extension need to go to Q1 or at least through January Debate for money for state and local governments was ‘contentious’ Democrats looking for nearly $1 trillion for state/local governments There was common ground on
Gold rose on Friday and headed for its biggest monthly gain in 8-1/2 years as the impact of the worsening coronavirus pandemic on the U.S. economy hammered the dollar, prompting investors to seek refuge in bullion. Spot gold was up 0.8% at $1,975.30 an ounce by 0927 GMT, while U.S. gold futures rose 1.5% to
China’s official PMI report reveals that economic activities continued to expand in July. However, the pace of recovery varied across sectors. Manufacturing and construction activities improved faster than expected, thanks to better overseas demand government’s stimulus measures. However, the services sector was dragged as household demand remained weak. Although PBOC has left the policy rate
U.S. consumer spending increased for second straight month in June, setting up consumption for a rebound in the third quarter, though the recovery could be limited by a resurgence in COVID-19 cases and the end of expanded unemployment benefits. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of
Amazon, Facebook, and Apple are only the most recent examples of a notable trend: earnings much better than expected. The reopening story may be getting rocky, but one pleasant surprise has been earnings. They are far noisier than normal, but in general they have been better than expected. Much better. And that is one of
Days after the CEOs of the world’s top tech firms faced antitrust hearings in the United States Congress, sources are alleging that Beijing too could soon probe its own digital monopolies. A Reuters report published on July 31 cites anonymous sources who claim the People’s Bank of China has formally recommended that the State Council’s
Major indices trade near their highs at of the key earnings With Amazon, Apple, Alphabet and Facebook all slated to announce earnings after the close, the major indices are well off there lows for the day and trading near their highs for the day. The S&P index and Dow industrial average are still in the red, but the NASDAQ index is
AUD/JPY sellers attack 75.00 after taking a U-turn from a three-day-old falling trend line. China’s July month official PMIs flashed better than forecast data, Aussie PPI weakened for Q2. A confluence of 200-HMA, 38.2% Fibonacci retracement adds to the upside barriers. AUD/JPY drops to 75.19, down 0.20% on a day, during the early Friday. The
Yes, really. Key takeaway is that these sorts of comments are made when Japanese authorities are getting concerned about a strengthening yen Senior Ministry of Finance official no comment on forex levels forex stability is important continue to watch forex markets with a sense of urgency That ‘stability’ word – what the official means is
Gold prices fell sharply on Thursday, drifting away from a record peak hit earlier this week, as a slump in US GDP and President Donald Trump’s tweet about delaying the upcoming US elections triggered a sell-off in financial markets. Spot gold dipped 1.2% to $1,947.28 per ounce by 11:54 a.m. EDT (1554 GMT), while US