Tag: financial news
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Bank ETFs bounce, with this fund heading for potentially best month since 2021
[ad_1] Exchange-traded funds that buy bank stocks jumped Tuesday as investors assessed Wall Street’s latest batch of second-quarter earnings results from giants including Bank of America and Morgan Stanley. The Invesco KBW Bank ETF KBWB, +3.05% closed up slightly more than 3% Tuesday, while the SPDR S&P Regional Banking ETF KRE, +4.22% surged 4.2%, according…
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U.S. dollar falls to over one-year low as inflation slows again in June
[ad_1] The U.S. dollar fell Wednesday after the consumer-price index for June showed the rate of inflation slowing to the lowest level since 2021. The ICE U.S. Dollar Index DXY, -1.12%, a measure of the currency against a basket of six major rivals, fell to 100.58 on Wednesday, on pace for the lowest level since…
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Bitcoin to top $100,000 by end of 2024, says Standard Chartered strategist
[ad_1] Bitcoin’s price is likely to reach $50,000 by the end of this year and has upside above $100,000 by the end of 2024, according to Geoff Kendrick, head of crypto research at Standard Chartered Bank. In a previous note in April, Kendrick said he expected bitcoin BTCUSD, -0.12% to rise to $100,000 by the…
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U.S. stocks give up gains to end lower, book weekly losses after June jobs data
[ad_1] U.S. stocks finished lower Friday, giving up earlier gains, after a report from the Labor Department showed a slowdown in job creation, robust wage growth and a low unemployment rate in June. All three major equity indexes booked weekly losses. How stock indexes traded Dow Jones Industrial Average DJIA, -0.55% fell 187.38 points, or…
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China service sector activity growth cooled in June, Caixin PMI shows
[ad_1] A private gauge of China’s services activities retreated in June, in line with an official index that also pointed to a slower recovery in the sector. The Caixin services purchasing managers index dropped to 53.9 in June from 57.1 in May, Caixin Media Co. and S&P Global said Wednesday. Despite the fall, the index…
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Is the U.S. stock market closed on the 4th of July?
[ad_1] The U.S. stock market will be closed on Tuesday in observance of the Fourth of July holiday, according to the New York Stock Exchange and Nasdaq, the two largest stock-trading venues in the U.S. Equity traders will also get a reprieve on Monday, the first trading session of the second half of 2023, as…
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U.S. stocks shake off rate-hike worries to end mostly higher
[ad_1] U.S. stocks shook off early weakness to end mostly higher Thursday as investors digested fresh commentary from Federal Reserve Chairman Jerome Powell and a raft of interest-rate hikes from global central banks. How did stocks trade? The Dow Jones Industrial Average DJIA, -0.01% fell 4.81 points, or less than 0.1%,to close at 33,946.71. The…
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Alibaba, other tech stocks drop as Goldman downgrades China growth forecast
[ad_1] Some of China’s biggest tech names fell on Monday, weighed by concerns the government may not provide enough stimulus with Goldman Sachs becoming the latest Wall Street bank to cut its growth forecasts for the world’s second-largest economy. Shares of video-sharing platform Bilibili Inc. 9626, -5.23% BABA, -0.11% slumped 5.2% in Hong Kong, while…