Following Wednesday’s choppy action in foreign exchange markets, investors are gearing up for key events that could ramp up the volatility. The European Central Bank will announce monetary policy decisions on Thursday and the US economic calendar will feature weekly Initial Jobless Claims and Unit Labor Costs data for the first quarter ahead of Friday’s … Read more
Nvidia’s shares surged around 6% to hit a record high, leaving the AI chipmaker’s market capitalization at .8 trillion, about 0 billion away from overtaking Apple in value.
T-Mobile will buy almost all of US Cellular’s wireless operations, including customers, stores, and 30% of its spectrum assets, in a deal valued at .4 billion.
PwC will become the largest customer and first reseller of OpenAI’s enterprise product, ChatGPT Enterprise, for its employees in the US and UK.
Stormy Daniels testified that Donald Trump told her in 2006 that having sex with him was the only way she would get out of the “trailer park.” She later testified against Trump in a criminal case where he was found guilty of covering up a payment to her for her silence about their alleged sexual encounter. Daniels detailed the encounter, stating she did not remember how she got into bed with Trump but did not enjoy the sex. Despite the publicity and benefits she gained from the story, Daniels’ testimony was ultimately seen as tangential to the case.
JPMorgan Chase plans to grow its headcount in India by 5-7% annually over the next few years.
Silver found temporary support near .20 after correcting from a weekly high of .30. The Dollar declined further after the U.S. Department of Labor reported higher jobless benefits claims for the week ending May 24. The slower US growth rate in the first quarter also weighed on the Dollar. The DXY Dollar Index corrected further to 104.76. A downside move in the US Dollar is favorable for dollar-denominated assets such as silver. The uncertainty over the near-term outlook of silver remains ahead of the U.S. core Personal Consumption Expenditure Price Index data for April. The Federal Reserve’s preferred inflation gauge will influence speculation for Fed rate cuts in September. Financial markets expect the Fed to start reducing interest rates from the last quarter of the year.
Higher-for-longer interest rates are likely to remain central banks’ main strategy for the rest of the year, according to the CEO of a leading financial advisory and fintech firm.
A year has passed since the introduction of the UAE’s 9 per cent federal corporation tax.
Fact: No Democratic president since at least Grover Cleveland in the late 19th century has been beloved by American business.