Daily Briefing: In-depth Summary of Top 10 Headlines from Most Popular News
- Alphabet Q2 results top estimates; Shares jump Alphabet, the parent company of Google, has reported second-quarter results that exceeded analysts’ expectations. This has led to a significant increase in the company’s share price.
- Microsoft and Alphabet earnings, Fed decision ahead – what’s moving markets The financial markets are being influenced by the earnings reports of tech giants Microsoft and Alphabet, as well as the upcoming decision from the Federal Reserve.
- Microsoft Q4 results top estimates as cloud growth shines Microsoft’s fourth-quarter results have surpassed estimates, with the company’s cloud computing division showing particularly strong growth.
- AT&T, Coca-Cola, Meta Platforms earnings: 3 things to watch Investors are keeping a close eye on the earnings reports of AT&T, Coca-Cola, and Meta Platforms. These reports could significantly impact the stock market.
- AI mania drives Wall Street to higher close ahead of earnings The excitement surrounding artificial intelligence (AI) technologies has driven Wall Street to a higher close, just ahead of the release of several major earnings reports.
- Dow futures slip as Microsoft, Alphabet report earnings Dow futures have slipped as Microsoft and Alphabet report their earnings. The performance of these tech giants could influence the direction of the stock market.
- U.S. stocks were rising as Microsoft and Alphabet kick off tech earnings U.S. stocks have been on the rise as Microsoft and Alphabet kick off the tech earnings season. The performance of these companies could set the tone for the rest of the sector.
- Oil eases on higher US stockpiles, caution ahead of likely Fed hike Oil prices have eased due to an increase in U.S. stockpiles and caution ahead of a likely interest rate hike by the Federal Reserve.
- Stock market today: Dow extends win streak as tech shines ahead of earnings The Dow Jones Industrial Average has extended its winning streak as tech stocks shine ahead of the release of earnings reports.
- Asia shares slip as markets await Fed rate rise, eye China Asian shares have slipped as markets await a potential rate rise from the Federal Reserve and keep a close eye on developments in China.
Daily Briefing: Cryptocurrency
- Elon Musk says X will offer an ‘entire financial world’ in the coming months: Elon Musk has announced that his company X will be offering a comprehensive financial world in the upcoming months. This move is expected to revolutionize the financial industry and bring about significant changes in the way financial transactions are conducted.
- CFTC charges Tennessee couple over ‘Blessings of God Thru Crypto’ scheme: The Commodity Futures Trading Commission (CFTC) has charged a couple from Tennessee over their involvement in a cryptocurrency scheme known as ‘Blessings of God Thru Crypto’. The couple is accused of defrauding investors through this scheme.
- Here’s what happened in crypto today: Stay updated with the latest happenings in the cryptocurrency world. From market trends to new technological advancements, get all the information you need about the crypto industry.
- Miami Heat’s Jimmy Butler seeks dismissal from Binance promo class suit: Miami Heat player Jimmy Butler has requested a dismissal from a class-action lawsuit involving Binance promotions. The lawsuit alleges that Binance used Butler’s image without his consent for promotional purposes.
- Namibia signs crypto exchange regulation bill into law: Namibia has officially signed a bill into law that regulates cryptocurrency exchanges. This is a significant step towards the acceptance and regulation of cryptocurrencies in the country.
- US congressional committee set to weigh crypto bills: A US congressional committee is set to consider several bills related to cryptocurrencies. These bills aim to regulate the use of cryptocurrencies and ensure their safe and legal use.
- Deloitte, Chainalysis alliance to give law enforcement a crypto edge: Deloitte and Chainalysis have formed an alliance to provide law enforcement agencies with a crypto edge. This partnership will help in tracking illegal activities involving cryptocurrencies.
- KuCoin denies mass layoffs, says cuts are part of ‘normal’ operations: Cryptocurrency exchange KuCoin has denied reports of mass layoffs, stating that the job cuts are part of their normal operations. The company reassured its users that it remains committed to providing quality services.
- USD-backed stablecoin pilot project launched by Pacific island nation of Palau: The Pacific island nation of Palau has launched a pilot project for a USD-backed stablecoin. This project aims to explore the potential benefits and challenges of using a stablecoin as a form of digital currency.
- OpenAI creator launches Worldcoin: The creator of OpenAI has launched a new cryptocurrency called Worldcoin. This new digital currency aims to provide a decentralized and secure form of currency for users worldwide.
Daily Briefing: Stock Market News
- Reckitt beats quarterly like-for-like sales estimates, raises HY dividend Reckitt, a leading consumer health and hygiene company, has exceeded its quarterly sales estimates on a like-for-like basis. The company also announced an increase in its half-yearly dividend, reflecting its strong financial performance.
- Deutsche Bank flags cost cuts as investment bank slump lowers profit Deutsche Bank has indicated that it will implement cost-cutting measures in response to a slump in its investment banking division, which has led to a decrease in profits. The bank is looking for ways to improve its financial performance amid challenging market conditions.
- Rolls-Royce raises forecasts powered by civil, defence units Rolls-Royce has raised its forecasts for the year, driven by strong performance in its civil aerospace and defence divisions. The company’s updated outlook reflects its confidence in its ability to navigate the current market environment.
- Nissan roughly doubles first-quarter profit, lifts outlook Nissan has reported that its first-quarter profit has approximately doubled compared to the same period last year. As a result, the automaker has raised its outlook for the year, signaling optimism about its future performance.
- Stellantis tops H1 forecasts, looks to cost cuts to keep margins strong Stellantis, the multinational automotive manufacturer, has exceeded its forecasts for the first half of the year. The company is also planning to implement cost-cutting measures to maintain its strong profit margins.
- Rio Tinto posts lowest H1 profit in 3 years on weak iron ore prices, cuts dividend Mining giant Rio Tinto has reported its lowest first-half profit in three years, due to weak iron ore prices. The company has also announced a cut in its dividend.
- Puma reports higher Q2 sales, reiterates outlook Sportswear manufacturer Puma has reported higher sales for the second quarter. The company has reiterated its outlook for the year, indicating that it expects its strong performance to continue.
- LG Display flags Q4 turnaround after 5th straight quarterly loss LG Display has signaled a turnaround in the fourth quarter after suffering losses for five consecutive quarters. The company is optimistic about its prospects for recovery.
- Asia shares slip as markets await Fed rate rise, eye China Asian shares have slipped as markets await a potential rate rise from the Federal Reserve. Investors are also keeping a close eye on developments in China.
- Aston Martin posts smaller quarterly loss, keeps 2023 forecast Luxury carmaker Aston Martin has reported a smaller loss for the quarter and has maintained its forecast for 2023. The company’s results indicate that it is making progress in its turnaround efforts.
Daily Briefing: Economic Indicators News
- Slowing Australia Q2 inflation lessens rate hike pressure: Australia’s Q2 inflation has slowed down, reducing the pressure for a rate hike. This could potentially lead to a pause in the Reserve Bank of Australia’s (RBA) plans for monetary tightening.
- Japan says sees pick up in business sentiment for the first time in 7 months: Japan has reported an improvement in business sentiment for the first time in seven months. This could signal a potential recovery in the country’s economic conditions.
- Australia CPI inflation cools in Q2, furthers RBA pause bets: The cooling of Australia’s Consumer Price Index (CPI) inflation in Q2 is furthering bets on a pause by the RBA. This could potentially delay any plans for monetary tightening.
- Japan’s business services inflation slows in June: Inflation in Japan’s business services sector slowed down in June. This could potentially impact the country’s economic recovery plans.
- US Senate backs measure requiring reporting on China tech investments: The US Senate has backed a measure that requires reporting on tech investments from China. This could potentially impact the tech industry and international relations.
- South Korea consumer sentiment climbs for fifth month: Consumer sentiment in South Korea has been on the rise for the fifth consecutive month. This could potentially signal a positive trend in the country’s economic conditions.
- Business confidence slips further as Germany faces sluggish recovery: Business confidence in Germany has slipped further as the country faces a sluggish recovery. This could potentially impact the country’s economic outlook.
- Decline in UK manufacturing orders eases in July: CBI: The decline in UK manufacturing orders has eased in July, according to the Confederation of British Industry (CBI). This could potentially signal a recovery in the manufacturing sector.
- South Korea’s Q2 GDP speeds up but weakness clouds outlook: South Korea’s Q2 GDP has sped up, but weaknesses are clouding the outlook. This could potentially impact the country’s economic recovery plans.
- U.S. business activity growth slows as services soften: Growth in US business activity has slowed as services soften. This could potentially impact the country’s economic recovery plans.
Daily Briefing: Economy News
- US charges British billionaire Joe Lewis with insider trading: The US authorities have charged British billionaire Joe Lewis with insider trading. The specifics of the charges and the potential implications for Lewis and his business interests are yet to be detailed.
- Explainer – China’s politburo meeting leaves many economic headaches unaddressed: China’s recent politburo meeting has left several economic issues unresolved. The meeting, which is a significant event in China’s political calendar, did not provide clear solutions to the country’s ongoing economic challenges.
- Fed poised to hike rates as markets anticipate inflation endgame: The Federal Reserve is reportedly ready to increase interest rates as markets anticipate an end to inflation. This move could have significant implications for the global economy and financial markets.
- IMF urges BOJ to move away from yield control, prepare for future tightening: The International Monetary Fund (IMF) has advised the Bank of Japan (BOJ) to shift away from yield control and prepare for future tightening. This advice comes as the BOJ faces ongoing challenges in managing Japan’s economy.
- South Korea to ease loan curbs for some homeowners paying ‘jeonse’ deposits: The South Korean government is planning to relax loan restrictions for certain homeowners who are paying ‘jeonse’ deposits. This move is expected to provide financial relief for these homeowners.
- China regulator, after Politburo meet, vows more capital market reforms: Following the recent Politburo meeting, China’s regulator has pledged to implement more reforms in the country’s capital markets. These reforms are expected to improve the functioning and efficiency of China’s financial markets.
- US Senate backs measure requiring reporting on China tech investments: The US Senate has supported a measure that requires reporting on Chinese tech investments. This move is part of ongoing efforts to monitor and regulate foreign investments in the US tech sector.
- Puerto Rican bank sues NY Fed for suspending account in Venezuela-linked crackdown: A Puerto Rican bank has filed a lawsuit against the New York Federal Reserve for suspending its account as part of a crackdown linked to Venezuela. The bank is seeking redress for what it perceives as an unjust action by the NY Fed.
- Marketmind: China hopes, U.S. big tech fire up markets: Market optimism is being fueled by hopes for China’s economy and the performance of US big tech companies. These factors are contributing to positive sentiment in global financial markets.
- Greenpeace says ECB has broken climate pledge with end of bond buying: Greenpeace has accused the European Central Bank (ECB) of breaking its climate pledge with the end of its bond-buying program. The environmental organization believes that the ECB’s actions are inconsistent with its stated commitment to addressing climate change.
Daily Briefing: World News
- US charges British billionaire Joe Lewis with insider trading: The US authorities have charged British billionaire Joe Lewis with insider trading. The specifics of the charges and the potential implications for Lewis and his business interests are yet to be detailed.
- Explainer – China’s politburo meeting leaves many economic headaches unaddressed: China’s recent politburo meeting has left several economic issues unresolved. The meeting, which is a significant event in China’s political calendar, did not provide clear solutions to the country’s ongoing economic challenges.
- Fed poised to hike rates as markets anticipate inflation endgame: The Federal Reserve is reportedly ready to increase interest rates as markets anticipate an end to inflation. This move could have significant implications for the global economy and financial markets.
- IMF urges BOJ to move away from yield control, prepare for future tightening: The International Monetary Fund (IMF) has advised the Bank of Japan (BOJ) to shift away from yield control and prepare for future tightening. This advice comes as the BOJ faces ongoing challenges in managing Japan’s economy.
- South Korea to ease loan curbs for some homeowners paying ‘jeonse’ deposits: The South Korean government is planning to relax loan restrictions for certain homeowners who are paying ‘jeonse’ deposits. This move is expected to provide financial relief for these homeowners.
- China regulator, after Politburo meet, vows more capital market reforms: Following the recent Politburo meeting, China’s regulator has pledged to implement more reforms in the country’s capital markets. These reforms are expected to improve the functioning and efficiency of China’s financial markets.
- US Senate backs measure requiring reporting on China tech investments: The US Senate has supported a measure that requires reporting on Chinese tech investments. This move is part of ongoing efforts to monitor and regulate foreign investments in the US tech sector.
- Puerto Rican bank sues NY Fed for suspending account in Venezuela-linked crackdown: A Puerto Rican bank has filed a lawsuit against the New York Federal Reserve for suspending its account as part of a crackdown linked to Venezuela. The bank is seeking redress for what it perceives as an unjust action by the NY Fed.
- Marketmind: China hopes, U.S. big tech fire up markets: Market optimism is being fueled by hopes for China’s economy and the performance of US big tech companies. These factors are contributing to positive sentiment in global financial markets.
- Greenpeace says ECB has broken climate pledge with end of bond buying: Greenpeace has accused the European Central Bank (ECB) of breaking its climate pledge with the end of its bond-buying program. The environmental organization believes that the ECB’s actions are inconsistent with its stated commitment to addressing climate change.
Daily Briefing: Politics News
- US senators express bipartisan alarm about AI, focusing on biological attack US senators from both parties have expressed concerns about the potential misuse of artificial intelligence in biological attacks. The senators highlighted the need for robust regulations and safeguards to prevent such scenarios.
- Ohio voters to decide whether to protect abortion rights in November In a significant referendum, Ohio voters will decide in November whether to protect abortion rights. The outcome could have far-reaching implications for women’s reproductive rights in the state.
- Top US Republican McCarthy ponders Biden impeachment probe Kevin McCarthy, the top Republican in the US House of Representatives, is considering launching an impeachment probe against President Biden. The reasons for this potential action are yet to be clarified.
- Biden attacks curbs on teaching US’ racist history as he honors Emmett Till with monument President Biden criticized restrictions on teaching the racist history of the United States during a ceremony to honor Emmett Till with a monument. The President emphasized the importance of acknowledging and learning from the past.
- US House Democrat holds thirst strike to protest Texas water break law A US House Democrat has embarked on a thirst strike to protest against the Texas water break law. The lawmaker’s action underscores the contentious nature of the legislation.
- Biden nominates Harry Coker to be national cyber director President Biden has nominated Harry Coker to serve as the national cyber director. Coker’s appointment underscores the administration’s focus on strengthening the country’s cyber defenses.
- Bannon co-defendant Shea sentenced to 5-1/4 years over ‘We Build the Wall’ fraud Shea, a co-defendant in the Bannon case, has been sentenced to over five years in prison for fraud related to the ‘We Build the Wall’ project. The sentencing marks a significant development in the high-profile case.
- US judge blocks Biden’s new border asylum restrictions A US judge has blocked new asylum restrictions introduced by the Biden administration. The ruling represents a significant setback for the administration’s immigration policies.
- US House Republicans face possible infighting as they turn to spending As US House Republicans turn their attention to spending issues, there are concerns about potential infighting within the party. The disagreements could impact the party’s legislative agenda.
- Ron DeSantis cuts dozens of staff as his 2024 campaign expenses pile up Florida Governor Ron DeSantis has cut dozens of staff members as his campaign expenses for the 2024 election continue to rise. The staff cuts could have significant implications for DeSantis’ campaign strategy.
Daily Briefing: Commodities & Futures News
- Oil eases on higher US stockpiles, caution ahead of likely Fed hike Oil prices have eased due to an increase in US stockpiles and caution ahead of a likely Federal Reserve interest rate hike. The market is closely watching the Fed’s decision as it could impact global demand for oil.
- Oil creeps lower with Fed hike, U.S. inventories in focus Oil prices have slightly decreased as the market focuses on the upcoming Federal Reserve interest rate hike and U.S. oil inventories. The rate hike could potentially slow down economic growth and reduce oil demand.
- Drought-hit Panama Canal restricts daily crossings in water-saving move The Panama Canal, which has been hit by drought, has restricted daily crossings in a move to save water. This could impact global trade as the canal is a major route for international shipping.
- Gold steadies ahead of Fed decision, copper cools from China boost Gold prices have stabilized as the market awaits the Federal Reserve’s decision. Meanwhile, copper prices have cooled down after a boost from China.
- Oil prices hit 3-month highs on tightening supplies Oil prices have reached a three-month high due to tightening supplies. This comes amid concerns over global oil demand and potential disruptions to supply.
- US plans water heater standards, says they will save consumers $11 billion The U.S. is planning to implement new water heater standards, which they claim will save consumers $11 billion. The new standards aim to improve energy efficiency.
- U.S. crude stocks likely up 1.3M barrels last week – API According to the American Petroleum Institute (API), U.S. crude stocks likely increased by 1.3 million barrels last week. This could potentially put downward pressure on oil prices.
- U.S. oil races toward $80 target of bulls on bets market will tighten U.S. oil prices are racing towards the $80 target set by bullish investors, based on bets that the market will tighten. This is due to expectations of increased demand and potential supply disruptions.
- Crude oil drifts lower ahead of crucial Federal Reserve meeting Crude oil prices have drifted lower ahead of the crucial Federal Reserve meeting. The meeting’s outcome could have significant implications for global oil demand.
- Some Chinese steel mills ordered to cap output this year – sources Some Chinese steel mills have been ordered to cap their output this year, according to sources. This is part of China’s efforts to reduce carbon emissions and could impact global steel supply.