Category Archive: Finance, No picture
Volkswagen Declares War On Unions, Scraps Three-Decade-Old Job Protections
Image Source: UnsplashAs discussed earlier today, Germany’s economy is slowly but surely sinking, whether or not Mario Draghi’s proposal to flood Europe in new debt is eventually accepted, and nowhere is the pain more tangible than Germany’s iconic carmaker, Volkswagen (VLKAF), which we reported last week was considering its first-ever factory closure amid a dire economic backdrop, […]
Forex Today: US Inflation And The Size Of The Fed’s Rate Cut
Image Source: UnsplashHere is what you need to know on Wednesday, September 11:The US Dollar Index (DXY) managed well to maintain business in the upper end of the range near 101.70 prior to key data releases on Wednesday. The release of the Inflation Rate tracked by the CPI will be the salient event on September 11, […]
Elon’s Robotaxis Will Transform Everything
Image Source: PexelsIn Ernest Hemingway’s novel, “The Sun Also Rises,” one of the main characters is asked how he went bankrupt.His response: “Two ways. Gradually, then suddenly.”Slowly at first, then all at once.This is how waves of technology happen.They build slowly, then suddenly they’re everywhere.Take the internet. In the ’90s, we slowly downloaded AOL CDs onto […]
NFIB “Mood On Main Street Darkens” Small Business Optimism Dips
Image Source: PexelsThe July jump in small business optimism momentum lasted precisely one month.Small Business Optimism Dips in AugustThe NFIB reports Small Business Optimism Dips in August The NFIB Small Business Optimism Index fell by 2.5 points in August to 91.2, erasing all of July’s gain. This is the 32nd consecutive month below the 50-year average of 98. […]
Academy Sports + Outdoors Reports Mixed Q2 Results
Academy Sports + Outdoors (ASOas) recently released its financial results for the second quarter of 2024, revealing a mixed performance. The company’s net sales declined by 2.2%, while comparable sales saw a sharper drop of 6.9%. Despite these declines, the company reported a GAAP diluted earnings per share (EPS) of $1.95. On an adjusted basis, the diluted EPS […]
Gemini: Crypto adoption steady despite market downturn
Key Takeaways 70% of past crypto owners likely to buy crypto in the next year. 37% of US crypto owners hold digital assets through ETFs. Share this article Crypto adoption remained consistent in the US, UK, Singapore, and France since 2022, despite recent market downturns, according to Gemini’s “2024 Global State of Crypto Report.” The […]
Consolidative Tuesday: Sept 10
Image Source: UnsplashOverview: The US dollar is mostly consolidating so far today with a slightly heavier bias against the G10 currencies and most emerging market currencies. The larger than expected Chinese trade surplus did not lift the yuan. The greenback is trading above its 20-day moving average against the Chinese yuan for the first time since late […]
Polygon invests $5M in ‘VPU’ chips that could lower zero-knowledge proof costs
Key Takeaways Polygon Labs invests $5M in servers with custom zero-knowledge cryptography chips. The new technology could reduce the adoption timeline of zero-knowledge proofs from years to months. Share this article Polygon Labs, a major Ethereum layer-2 developer, has announced plans to purchase $5 million worth of server systems optimized for zero-knowledge (ZK) cryptography processing […]
JPMorgan Tumbles After Bank’s President Says Analysts Are “Too Optimistic”
Image Source: UnsplashThe stock of the largest US bank is tumbling this morning after Daniel Pinto, JPMorgan’s (JPM) president, said that analysts were too optimistic in projecting next year’s expenses and net interest income, sending the shares down more than 6%, and tumbling to 1-month lows…The current NII estimate of $89.5 billion is “not very reasonable” […]
Tech Stocks Lead Market Gains As Investors Await Key CPI Data And Fed Rate Cut Decision
Image Source: PexelsThe stock market seems to be experiencing some mixed action ahead of key events, with the S&P 500 and Nasdaq extending their gains thanks to strength in tech stocks, while the Dow Jones struggled, weighed down by a few underperformers. Oracle’s (ORCL) surge, driven by its strong earnings and partnership with Amazon Web Services, highlights […]
