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Wall Street Secures Weekly Win Despite Shaky Session
Wall Street was a mixed bag today as rate-cut optimism wore off, though all three major indexes still scored their second consecutive winning week. The Dow rallied in the final hour of trading to score a solid win and staying above the key 42,000 level. The S&P 500 and Nasdaq finished the session just below breakeven, while the Cboe Volatility Index (VIX) fell for the day and turned in its second-straight weekly loss. GOLD, OIL ENJOY RATE CUT OPTIMISM Oil prices remained steady today, turning in their second straight weekly win amid support from the Fed’s rate cut and falling U.S. supply. October-dated West Texas Intermediate (WT... -
Finance 0
India Reports Record Gold Imports In August
India reported record gold imports in August after the country slashed its import duty the month before.India ranks as the world’s second-largest gold consumer behind China.In July, the Indian government cut taxes on gold and silver imports by more than half, lowering duties from 15 percent to 6 percent. The domestic gold price fell 6 percent month-on-month after the lower duty went into effect, even as the dollar price of gold increased. As expected, the government’s move spurred a big jump in gold demand.India reported record gold imports in dollar terms, totaling $10 billion in August. It was over a three-fold increase over the... -
Finance 0
Rivian Stock: EV Maker’s Shares Slip Despite Fed’s Rate Cut
Image Source: Pexels Rivian Automotive Inc. (Nasdaq: RIVN) saw its shares drop by 7.5% to $12.17 during Friday’s trading session, reflecting a broader market pullback after a recent rally.The decline comes on the heels of the Federal Reserve’s unexpected decision to cut interest rates, marking the first reduction in over four years.This move had initially buoyed Rivian’s stock and the wider market, but investors are now recalibrating their expectations amid economic uncertainties. Rivian stock and Fed’s rate cut On Wednesday, the Federal Reserve announced a 50 basis point cut in interest rates, lowering the federal funds rate to a ra... -
Finance 0
Utilities Reacting To Reactor News
Although the S&P 500 finished in the red on the day, there is one sector reaching fresh 52-week highs: Utilities.The Utes are one of only two sectors higher today (the other being Communication Services), and its leadership is by a wide margin. Whereas Communication Services is only up 0.17%, the Utilities sector is flying with a 2.58% gain. That big gain is thanks to news that Constellation Energy (CEG) will sell power to Microsoft (MSFT) in order to power its data centers. To generate that power, CEG will be restarting one of its nuclear reactors at Three Mile Island in Pennsylvania.As shown below, given the news, CEG is the top perfo... -
Finance 0
Weekly Recap And DARP Update – Friday, Sep.20
Image Source:Â Pexels Alhambra CEO reviews market events of the week with thoughts on Fed rate cut.Video Length: 00:11:26More By This Author:The Fed Cuts RatesIs The Dollar Strong Or Weak? Leading Economic Indicators Not Working... -
Finance 0
Interest Rates Are Set To Fall Again, But For How Long And By How Much?
Whenever three-month US Treasury notes trade higher than 10-year US Treasuries, the interest rate cycle is near a top. This time, the market had to wait longer than usual, but the indication was confirmed again… The Fed reduced the Fed fund rate by 50 basis points and indicated that another 50 basis points are possible by the end of the year. However, the US Treasury with a term of 2 years is currently pricing more than 125 basis points for the next two years… This is also confirmed by the futures… Even if the Fed does not want to talk about a recession, the Heart Beat of the US economy still sees a 69% risk of a recession. ... -
Finance 0
Intel Shares Soar On Report Of Qualcomm Takeover Interest
Image Source: Pexels Intel (INTC) shares surged 6% in late afternoon trading (now halted) after a Wall Street Journal report revealed that Qualcomm (QCOM) had approached the struggling chipmaker earlier this week to discuss a potential acquisition. Here’s more from WSJ’s reporting, citing people familiar with the talks: A deal is far from certain, the people cautioned. Even if Intel is receptive, a deal of that size is all but certain to attract antitrust scrutiny, though it is also possible it could be seen as an opportunity to strengthen the country’s competitive edge in chips. To get the deal done, could intend to s... -
Finance 0
Neiro Price Prediction – Is First Neiro On Ethereum The Next Dogecoin?
Image Source: Pexels First Neiro On Ethereum remains one of the hottest commodities in the meme coin market, following its surprising Binance Spot and Futures listings. The NEIRO price has already printed 3000% growth since the listings,with the meme coin soaring from a market cap of just $14 million to $420 million. While NEIRO is in the midst of a pull-back at press time, experts believe that the project remains highly undervalued. Indeed, NEIRO price predictions from analysts have the meme coin reaching a multi-billion dollar valuation in the coming months, with some calling it the next Dogecoin. Smart money investors are also bullish ... -
Finance 0
Even After Post-Fed Selloff, Gold Still Reaches New All Time High
Image Source:Â Pixabay Hey, did you hear about gold smashing through $2,600? Crazy, right? But here’s the kicker – remember good ol’ “Mr. Slammy” who always tries to keep prices down?Well, he just fell flat on his face this time. Rafi’s breaking it all down, and trust me, you’re gonna want to hear what he says about silver and this whole “endgame” thing.Video Length: 00:16:22More By This Author:Trump Threatens 100% Tariff On De-Dollarizing CountriesThe Signs Are Clear, We Are Closing In On The End Game Low-Cost Silver Producer Says True Cost Already Over $25 Per Ounce... -
Finance 0
The 2024 Utility Decarbonization Index
Electric utilities and the power sector in the U.S. are crucial for averting climate change, especially as electricity demand rises. But how do the nation’s largest electricity producers compare on the necessity of decarbonization?In partnership with the National Public Utilities Council, we present the 2024 edition of our Annual Utility Decarbonization Index. The index uses the latest available data to track the decarbonization progress of the 47 largest investor-owned utilities (IOUs) in the United States. The Index Ranking The 47 IOUs featured in the Index are the largest private electricity producers in the U.S., accounting for overÂ...
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