Author: Daniel Chang

U.S. stock index futures showed signs of recovery in Monday’s evening trading session after Wall Street suffered significant losses due to heightened fears of an economic downturn. Some bargain buying, especially in the technology sector, helped stocks recover following a steep decline in valuations over recent weeks. By 19:07 ET (23:07 GMT), S&P 500 Futures increased by 0.9% to 5,263.75 points, Nasdaq 100 Futures climbed 1.2% to 18,224.25 points, and Dow Jones Futures rose 0.5% to 39,053.0 points. Economic Slowdown Fears Drive Stock Market to New Lows Recent disappointing reports on purchasing managers index and labor market performance have fueled…

U.S. stock index futures dropped on Sunday evening as worries about an economic slowdown persisted, and the technology sector continued to experience significant profit-taking. By 19:28 ET (23:28 GMT), S&P 500 Futures declined 0.9% to 5,329.0 points, Nasdaq 100 Futures fell 1.4% to 18,302.0 points, and Dow Jones Futures decreased by 0.5% to 39,680.0 points. Wall Street Hit by Economic Slowdown Fears The decline in Wall Street futures followed a week of losses in U.S. stocks, driven by fears of an economic downturn. Weak business activity and labor market data have fueled concerns that the Federal Reserve’s prolonged high-interest rates…

A political action committee (PAC) associated with billionaire Elon Musk is currently under investigation in Michigan for potential violations of state regulations, according to a statement from the Michigan secretary of state’s office on Sunday. Elon Musk, CEO of Tesla, had previously mentioned establishing a PAC aimed at supporting political candidates, but he has not committed any specific endorsements. The Musk-affiliated America PAC has been gathering extensive voter information from Michigan residents and others through a section on its website labeled “register to vote,” as reported by CNBC. Although America PAC operates as a federal political action committee, the Michigan…

The Bank of Japan (BOJ) is preparing for an era of consistent interest rate increases as it claims victory over long-standing deflation, according to sources and analysts. This shift marks a significant policy review that acknowledges major changes in consumer behavior. This review signals a departure from former governor Haruhiko Kuroda’s aggressive monetary stimulus policies, moving towards a more conventional approach targeting short-term interest rates. Despite the BOJ’s statement that the review, led by governor Kazuo Ueda, won’t directly influence future monetary policy, it indicates a shift in the central bank’s perspective on inflation. “The BOJ is leveraging the idea…

Asian shares saw a boost on Monday as investors prepared for a week filled with earnings reports and key central bank meetings, which could lead to easing measures in the United States and the United Kingdom, while Japan may raise borrowing costs, signaling a move towards economic “normality.” This week will also bring the U.S. jobs report for July, important surveys on U.S. and global manufacturing, and data on Eurozone GDP and inflation. The U.S. Treasury is set to announce its bond issuance plans for the quarter, and China’s politburo meeting might unveil further stimulus measures following unexpected rate cuts…

Kelly Ortberg, the former chief of Rockwell Collins, is being seriously considered for the role of Boeing’s next chief executive officer, according to The Air Current, which cited industry insiders. Ortberg joins a shortlist that includes Spirit AeroSystems CEO Pat Shanahan and Boeing’s Chief Operating Officer Stephanie Pope. Previously, Reuters reported that Shanahan and Pope were among the candidates, along with Boeing board Chair Steve Mollenkopf. In July, Boeing announced plans to repurchase Spirit AeroSystems, its former subsidiary, in a stock deal valued at $4.7 billion. Rockwell Collins, a division of RTX, specializes in aircraft communications, electronics, and aviation systems…

The U.S. economy demonstrated stronger-than-expected growth in the second quarter, with real GDP increasing by 2.8% quarterly and 3.1% year-over-year. This robust performance was driven largely by significant consumer spending on services. Inflation indicators also showed notable changes. The GDP deflator, which measures the difference between nominal and real GDP, rose by 2.3%, while nominal GDP increased by 5.2%. These figures indicate a healthy economic expansion, although inflationary pressures remain. Here’s what five major Wall Street banks are saying about the Federal Reserve’s next moves following this economic data: Citi: “Fed officials will find some reassurance in the fact that…

Introduction Proprietary trading firms, commonly known as prop firms, are rapidly becoming a preferred choice for aspiring traders. These firms provide traders with the necessary capital and resources, opening up new avenues for those looking to enter the world of professional trading. This article will delve into the primary advantages of joining a prop firm. We’ll cover how access to substantial trading capital, professional training, a supportive trading community, and performance-based rewards can significantly enhance your trading career. Access to Significant Capital One of the most compelling benefits of joining a prop firm is the access to significant trading capital.…

OpenAI has officially entered the search engine market, an area long dominated by Google, with the introduction of SearchGPT, an AI-powered search engine that offers real-time information from the internet. This announcement, made on Thursday, positions OpenAI in direct competition with Google and even its major supporter, Microsoft’s Bing, as well as other emerging AI search services like Perplexity, which is backed by Amazon founder Jeff Bezos and Nvidia. Following the announcement, shares of Google’s parent company Alphabet (NASDAQ) fell by 3%. OpenAI has initiated sign-ups for SearchGPT, currently in its prototype phase and being tested by a select group…

The S&P 500 ended the day lower on Thursday, reversing earlier gains as a slump led by Alphabet halted a tech sector rebound. Investors are hopeful that the Federal Reserve might implement several rate cuts this year. At the close of trading, the Dow Jones Industrial Average gained 81 points, or 0.20%, while the S&P 500 decreased by 0.5%, and the NASDAQ Composite fell by 0.9%. Tech Sector Struggles with Alphabet Decline; IBM and ServiceNow Show Strength Alphabet Inc Class A (NASDAQ) dropped over 3%, hampering the tech rebound amid concerns about fierce competition from OpenAI’s new AI-powered search engine.…