New York Manufacturing Declines for Second Straight Month in June
New York manufacturing posted a drop for the second straight month in June, according to data released by the regional Fed bank on Tuesday. The general business conditions index slipped...
Read more
Retail Spending Plunged by 1.3% in May as Consumers Shift from Pandemic Goods
Spending by US consumers fell by 1.3% in May as shoppers shifted from pandemic-led goods to services, according to WSJ. On-demand goods such as electronics, furniture, autos, and building materials...
Read more
AMC Jumps as Retail Investors Take Part in #AMCDay
Shares of movie chain operator AMC Entertainment Holdings Inc. climbed another 15% on Tuesday as retail investors jumped on #AMCDay, according to MarketWatch. AMC stocks surged 15.4% to close Monday...
Read more
Bitcoin Shorts Increases 10x from 1,500 to 20,000
On 6th June, bitcoin shorts increased significantly as the price of bitcoin recorded some recovery from $32,000 to $35,000, according to the data reported by Trustnodes on Monday. Bitfinex noted...
Read more
Bitcoin Climbs Back to $40,000 Level After Musk Hints on Accepting Token For Tesla Payments Again
The price of Bitcoin soared to the $40,000 level on Sunday after Tesla Chief Executive Elon Musk hinted on accepting the digital token for payments again, CNBC reported. Bitcoin gained...
Read more
Texas Allows its Chartered Banks to Offer Custody Services on Virtual Currencies
Customers with state-chartered banks in Texas will access custody services for virtual currencies in a new announcement by the Department of Banking. The authorized banks will need to have sufficient...
Read more
Chewy Rebound Continues With Sustained Income Growth in First Quarter
American pet food retailer Chewy Inc. rebounded in the first quarter from the loss incurred the same period last year, the company reported in a statement on Friday. Net income...
Read more
NatWest Strategist Concurs with Fed that “Hot” Inflation is Only Transitory
NatWest Markets strategist John Briggs has backed Fed claims that the uptick in inflation is temporary, CNBC reports. Comments by Briggs come when consumer price index jumped 5% year over...
Read more
Citi Challenges Market With 5% Cash-Back Credit Card Program
Citigroup Inc. will roll out on Thursday a credit card that will give up to 5% cash back on up to $500 of spending, CNBC reported. Head of U.S. branded...
Read more
Chinese Watchdog Probes Veteran Bad-Loan Manager for Corruption
China has initiated an official investigation on China Great Wall Asset Management Co. Vice President Hu Xiaogang over corruption concerns, Yahoo! reported. The Central Commission for Discipline Inspection said Hu...
Read more
Banks Scrambling to Sway Corporate Clients to Park Additional Funds Elsewhere
American banks are now moving to entice corporate clients to park their additional cash in other money-market accounts, the WSJ reported. Lenders in the past months moved customers from deposits...
Read more
Unforeseen Increase in Wages Creates Anxiety of a Likely Prolonged Inflation in the U.S.
Money markets in the U.S. are anxious that high inflation may not go away anytime soon, after an unforeseen 0.5% rise in wages in May. Source: St. Louis Fed SPY ...
Read more
