U.S. Debt in Danger of Downgrade by Moody’s as Shutdown Looms
Moody’s Investors Service on Friday put the U.S. government’s pristine credit rating on a negative outlook, raising the possibility of another downgrade of American debt.
Block’s Q3 Earnings Show $2.42 Billion Bitcoin Revenue, Marking 37 Percent Annual Growth
Block Inc. (SQ, formerly Square) reported an increase in Q3 earnings of 55 cents per share, beating the Zacks consensus estimate of 44 cents, with total net revenue climbing to $5.62 billion, marking a 24% YoY growth.
The Federal Reserve May Not Hike Interest Rates This Week, but Consumers Unlikely to Feel Any Relief
The U.S. Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting next week, even though the central bank's preferred inflation indicator remains well above the 2% target rate.
Central Banks of China and UAE Sign MoU to Strengthen Digital Currency Cooperation
The Central Banks of China and the United Arab Emirates (UAE) have recently signed memoranda of understanding (MoUs) relating to digital currencies during the third "Belt and Road" International Cooperation Summit Forum in Beijing last week.
Surging Rents Lift U.S. Consumer Prices; Underlying Inflation Grinding Lower
U.S. consumer prices increased in September amid a surprise surge in rental costs
War with Hamas Will Cost Israel ~NIS 27B, Bank Hapoalim Projects
The cost of the war between Israel and the Hamas is estimated to be at least NIS 27 billion ($6.8 billion) as of now, according to initial projections by Bank Hapoalim.
U.S. Bond Market is Sending Recession Warning, and Friday’s Jobs Report Could Hold the Next Clue
Falling U.S. bond prices are sending a signal that a recession could finally be around the corner as they push Treasury yields to their highest levels in 16 years, said DoubleLine Capital founder Jeff Gundlach.
U.S. Government Shutdown Would Halt IPOs and Market Surveillance, SEC’s Gensler Warns
The U.S. government will shut down this weekend absent a last-minute funding deal from Congress, and that could lead to significant disruptions for stock and bond markets, according to the nation’s top securities regulator.
What a Fed Rate-Hike Pause Would Mean for Bank Accounts and Loans
The Federal Reserve decided to keep interest rates the same for just the second time since beginning its current hiking cycle aimed at curbing inflation last year
Adobe Gears Up For Thursday Earnings As Options Traders Go Bullish
Adobe Inc. (ADBE) is all set to report its quarterly earnings on Sept. 14, 2023.
Wall Street Rethinks Turkish Rate Path as Inflation Heads to 70%
Wall Street banks are again having to rewrite their outlooks for Turkish interest rates, as inflation climbs faster than expected.
Cannabis Stocks Soar As Government Health Officials Call On DEA To Reschedule Marijuana
According to a report by Bloomberg on Wednesday, The U.S. Department of Health and Human Services is recommending to the Drug Enforcement Administration that cannabis should be reclassified as a Schedule III controlled substance under federal law.
‘Treacherous’ Descent: Fed Debates How Far to Push Rate Hikes
Even though the outlook is brighter than expected, Fed officials meeting at the annual Jackson Hole conference aren’t ready to conclude that prices will continue to cool.
Philippine Central Bank Expects Economic Growth to Miss Target
The Philippine central bank expects this year’s GDP growth to miss the government’s goal as economic activity moderates while it’s bringing inflation back to target.