Category Archive: Finance, No picture
China’s April Economic Slowdown: PMI Drops To 50.4
Image Source: Unsplash April’s economic indicators bring a sobering pulse check for China, the world’s second-largest economy. The National Bureau of Statistics (NBS) recently disclosed signs of deceleration in both the manufacturing and services sectors. This suggests a potential loss of momentum as the second quarter of 2024 begins. Despite a robust start to the year, the […]
S&P 500 Earnings Dashboard 24Q1 – Tuesday, April 30
Image Source: Pexels S&P 500 Aggregate Estimates and Revisions The 24Q1 Y/Y adjusted blended earnings growth estimate is 9.1%. If the energy sector is excluded, the growth rate for the index is 8.9%. Please note that the 24Q1 year-over-year growth rate for Bristol Myers Squibb reflects an approximate $12 billion one-time charge related to its acquisition of Karuna Therapeutics. […]
FTSE Pauses Record Run On A Mixed Read From Financial Firms
Image Source: Pexels On Tuesday, Britain’s primary stock indexes experienced an increase and were on track for their second straight month of growth, however a pullback in US markets saw a late day return to the flatline for the UK benchmark closing down 0.05% on the final trading day of April. This was driven by positive […]
Softs Report – Tuesday, April 30
COTTON General Comments: Cotton was a little higher yesterday in sideways trading. Demand remains a problem. The export sales report showed poor sales once again. USDA made no changes to the domestic supply or demand sides of the balance sheets, but did cut world ending stocks slightly. Trends are still down on the weekly charts. […]
Fed Continues To Struggle With Inflation
The cost of labor for U.S. companies accelerated in the first quarter of 2024 at the fastest pace in a year and a half, adding to the Federal Reserve’s struggles to control inflation. The Employment Cost Index rose 1.2% in Q1, the government reported Tuesday. This was the largest increase since the third quarter of […]
U.S. Plantings & Weather Key. The Corn & Ethanol Report
We kicked off the last day of April with Employment Cost – Benefits QoQ, Employment Cost – Wages QoQ, and Employment Cost Index QoQ at 7:30 A.M., Redbook YoY at 7:55 A.M., S&P/Case-Shiller Home Price MoM & YoY, House Price Index MoM & YoY, and House Price Index at 8:00 A.M., Chicago PMI at 8:45 […]
Wisdomise secures $9.5 million for AI-driven Web3 expansion
Artificial intelligence (AI) infrastructure Wisdomise has successfully closed a $9.5 million funding round with contributions from Chainlink Labs, SingularityDAO, VentureSouq, Pontinova Invest, Cetacean Capital, and ODE Capital.The funds will enhance Wisdomise’s deep tech foundation, focusing on AI/ML, Blockchain, and Quant Finance, and support the development of a Financial Intelligence SuperApp. This app aims to enable […]
dWallet Network enhances Monad with multi-chain DeFi support
Blockchain service provider dWallet Network has announced its latest move to support Layer-1 blockchain Monad, enabling multi-chain transfers. The collaboration will allow Monad ecosystem developers to utilize dWallet’s non-collusive and decentralized building blocks to create natively multi-chain decentralized finance (DeFi) applications. “This support from dWallet Network is a testament to our dedication to providing the best […]
Backed Finance raises $9.5 million in Series A funding round to accelerate tokenization for institutional clients
Backed Finance AG, a prominent issuer of tokenized real-world assets, has completed a $9.5 million Series A funding round. The company plans to use the funds to enhance its private tokenization services, aiming to onboard asset managers to blockchain solutions.The round was led by Gnosis, with the participation of new and existing investors, including Exor […]
2 Consumer Discretionary Funds To Buy As Retail Sales Rise
After recording a stellar 2023, consumer discretionaries have been witnessing a steady 2024. From the beginning of the year till March, the Consumer Discretionary Select Sector SPDR (XLY) jumped 3.1%. While the sector is not scaling the heights of the last 12 months when the same SPDR advanced 24%, one should keep in mind that […]
