The stock market has experienced significant growth since the last monthly meeting in June, with the Federal Reserve’s potential interest rate cut contributing to new highs in various stock indices. The Dow Jones, S&P 500, and Nasdaq Composite all reached all-time highs recently, reflecting the bullish sentiment among traders. The probability of a rate cut
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In the past week, mortgage rates have plummeted to their lowest level since March, prompting a significant surge in refinancing applications. The Mortgage Bankers Association reported a 15% increase in refinance applications compared to the previous week, reaching the highest level seen since August 2022. This jump in demand was an astounding 37% higher than
Adidas experienced a surge in their stock shares after the announcement of an increase in their full-year 2024 earnings guidance. The sportswear company exceeded expectations with their preliminary results for the second quarter, causing an upward trend in their stock value. Shares of Adidas rose by 4.42% at 9:07 a.m. London time following the announcement.
ASML, the Dutch semiconductor company, reported second-quarter earnings and sales that surpassed expectations, fueled by the growing interest in artificial intelligence chips. Net sales stood at 6.24 billion euros, exceeding the 6.03 billion euros that analysts had predicted. Similarly, net profit reached 1.58 billion euros, higher than the estimated 1.43 billion euros. This positive performance
The International Monetary Fund (IMF) issued a warning about the increasing upside risks to inflation which could potentially impact the Federal Reserve’s decision on interest rate cuts. In its latest World Economic Outlook update, the IMF highlighted that the momentum on global disinflation is slowing down, indicating potential obstacles in the path ahead. The report
In recent years, there has been a noticeable decline in workplace engagement among employees. According to a 2023 Gallup poll, only one-third of full- and part-time employees are actively engaged in their work and workplace. This shift is reflected in the phenomenon of “quiet quitting” where employees are coasting and doing the bare minimum to
The housing market in America is facing a crisis with tight supply, lack of affordable homes, and high mortgage rates. The situation differs from state to state, making it crucial for businesses to consider the local residential real estate market when deciding on their location. CNBC includes the housing market as part of the Economy
Small-cap stocks are currently experiencing a significant surge in the market. After surpassing megacap technology shares last week, these smaller companies are now leading the bull market. The Russell 2000 index, representing this group, has shown steady growth, with a 1% increase on Tuesday and reaching its highest level since January 2022. If the index
Bank of America reported a second-quarter profit of 83 cents per share, beating the estimate of 80 cents per share by LSEG. Additionally, the revenue came in at $25.54 billion, exceeding the estimated $25.22 billion. However, it is important to note that the profit slipped by 6.9% from the previous year, which raises concerns about
The price of gold reached a new record high on Tuesday, with futures climbing 1.5% to $2,465.30. This sharp increase was fueled by growing expectations of an interest rate cut in September, leading to heightened demand for bullion. Spot gold also hit an all-time high of $2,465.19 during the session, indicating a significant surge in