Dallas Federal Reserve President Robert Kaplan said the U.S. economic growth will accelerate next year as the country rebounds from the coronavirus crisis. “In ’21, we will see an above-trend growth, and we will continue to grind down the unemployment rate,” Kaplan said on CNBC’s “Closing Bell” on Tuesday. “I still believe if we follow these
Citigroup on Tuesday reported second-quarter results that surpassed analyst expectations thanks in part to a massive surge in trading revenue that helped offset a slowdown in the company’s consumer banking business. Here’s how the company’s results compared to analyst estimates: Earnings: 50 cents per share vs 28 cents per share expected by Refinitiv Revenue: $19.77 billion
Blockchain scalability solution Matic claims the network can supercharge the Ethereum ecosystem, after a two-month testnet run revealed it was able to process 7,2000 transactions per second (TPS). In a July 14 blog post by Matic Network, the project reported it had stress tested its Counter Stake CS-2008 testnet, which could “reliably handle a performance
Gold bulls catch a breather near the weekly top around $1,810. US President Trump signed a bill to punish China for the Hong Kong security law. Vaccine news, equity earnings keep the optimism alive. BOJ, risk catalysts will be in the spotlight amid a light calendar. Gold drops to $1,808.30 during the pre-Tokyo open Asian
Major indices close at session highs Today saw the stock market rotate into the Dow and broader S&P indices. The tech heavy NASDAQ was the laggard. However a late day surge ”raised all boats”. The Dow had its best day since June 29. The dow rose for the 3rd day in a row. The final numbers are showing: S&P
A legislative order to hold China accountable for its action Hong Kong Trump says Hong Kong’s peoples’ freedom has been taken away HK to be now treated like mainland China Trump adds that he holds China fully responsible for concealing the virus and unleashing it on the world. For bank trade ideas, check out
Gold prices inched up on Tuesday, rising above the $1,800 level, underpinned by concerns over mounting coronavirus cases globally and as many regions reintroduced curbs to restrict the outbreak. Spot gold rose 0.2% to $1,805.83 per ounce by 10:42 am EDT (1442 GMT). U.S. gold futures fell 0.2% to $1,810.20. “We are still bullish on
Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the second strongest so far. On the other hand, New Zealand Dollar is the worst performing
U.S. consumer prices increased by the most in nearly eight years in June as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy. The Labor Department said on Tuesday its consumer price index increased 0.6% last month, the biggest gain
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase is scheduled to report second-quarter earnings before the opening bell on Tuesday. Here’s what Wall Street expects: Earnings: $1.04 per share, a 63% decline from a year earlier, according to Refinitiv. Revenue: $30.3 billion, 2.5% higher
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A new report released on Tuesday by Crystal Blockchain attempts to categorize cross-border transactions of Bitcoin based on their “country of origin,” which may have important implications for the FATF Travel Rule. The analysts used direct exchange-to-exchange transactions and their country of incorporation to categorize Bitcoin (BTC) transfers by their provenance. Despite the fact that
EUR/USD keeps the firm note in the 1.1365/70 band on Tuesday. A move north should see the 1.14 neighbourhood revisited. EUR/USD is prolonging the rebound from Friday’s lows near 1.1250, managing well to retake last week’s tops in the 1.1370/80 band. If the buying bias picks up pace, there is increasing chances of a move
AUD/USD touches a low of 0.6921 amid a slight dent to the risk mood in early trading but isn’t running anywhere just yet For bank trade ideas, check out eFX Plus Risk continues to keep more defensive to start the session with European equities still seeing losses of around 1.5% to 2.0% currently. Meanwhile, US
ZEW with some remarks accompanying the earlier survey After a very poor Q2, experts expect to see gradual increase in GDP in 2H 2020 The headline refers to the expectations reading in the survey earlier, after some budding optimism seen in the earlier months. This pretty much sums up economic sentiment at the moment within
LONDON: Oil prices fell on Tuesday on worries that new restrictions to stem surging US and Asian coronavirus cases could threaten a recovery in fuel demand just as OPEC+ producers prepare to increase output from August. Brent crude futures fell 44 cents to $42.28 a barrel by 0840 GMT and US West Texas Intermediate (WTI)