๐จ๐จ JUST IN: ๐ฌ๐ง Brexit has accelerated immigration to 3x higher.
Almost ALL UK immigration now comes from non-EU countries, while Europeans continue to leave the UK.
@Fin_Watch
Almost ALL UK immigration now comes from non-EU countries, while Europeans continue to leave the UK.
@Fin_Watch
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Russia now has the 4th largest economy in the world in terms of purchasing power parity, despite 2 years of western sanctions.
@Fin_Watch
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๐จ๐จ๐จ BREAKING: NBC News reports that 'more than half a dozen Democrats in Congress' described President Biden's ๐บ๐ธ political situation in stark terms including โheartbroken,โ โdoomedโ and a โf-----g disaster'.
@Fin_Watch
@Fin_Watch
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1. Fed Chair Powell Testifies - Tuesday
2. OPEC Monthly Report - Wednesday
3. June CPI Inflation data - Thursday
4. June PPI Inflation data - Friday
5. Michigan Consumer Sentiment data - Friday
6. Total of 9 Fed speaker events this week
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๐บ๐ธ More evidence of a slowing US economy:
US services activity contracted in June at the fastest pace since the 2020 pandemic.
The ISM services PMI index fell by 5 points to 48.8, missing expectations of 52.5 points.
This was primarily driven by an 11.6 point decline in the business activity index to its lowest since level April 2020.
In the past 30 years, such a service activity drop happened only during recessions.
Furthermore, new orders shrunk for the first time since 2022.
@Fin_Watch
US services activity contracted in June at the fastest pace since the 2020 pandemic.
The ISM services PMI index fell by 5 points to 48.8, missing expectations of 52.5 points.
This was primarily driven by an 11.6 point decline in the business activity index to its lowest since level April 2020.
In the past 30 years, such a service activity drop happened only during recessions.
Furthermore, new orders shrunk for the first time since 2022.
@Fin_Watch
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๐ซ๐ท BREAKING: Left-wing bloc has won 184 seats, Macron's centrist bloc wins 156 and Marine Le Pen's RN has won 141 seats so far.
@Fin_Watch
@Fin_Watch
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@News_Crypto
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๐บ๐ธ House Democrats and Republicans may come together next week to overturn President Joe Biden's veto on crypto legislation SAB 121
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@Fin_Watch
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JUST IN: ๐บ๐ธ Morgan Stanley's Wilson says a 10% fall in S&P 500 by US election is 'highly likely'
@Fin_Watch
@Fin_Watch
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๐บ๐ธ The Federal Reserve might cut interest rates 8 straight times beginning in September for a total of 200 basis points, says Citi
@Fin_Watch
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Meta Platforms is enhancing its Meta AI capabilities for #WhatsApp with new AI feature that allows users to edit images on the platform.
This comes as tech firms are increasingly enhancing product offerings leveraging AI to stay ahead of the competition.
@Fin_Watch | link
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๐ BREAKING: ๐ฆ๐บ Australiaโs largest stock exchange has approved its second spot #Bitcoin ETF.
@Fin_Watch
@Fin_Watch
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๐บ๐ธ SUMMARY OF FED CHAIR POWELL'S TESTIMONY (7/9/24):
1. Q1 2024 data did not support confidence in inflation and path to rate cuts
2. Rate cuts "not appropriate" until greater confidence inflation is heading to 2%
3. Cutting rates too late could unduly weaken the economy
4. The US economy is "expanding at a solid pace"
5. Labor market conditions have cooled but remain "strong"
6. Elevated inflation is not the only risk we face
@Fin_Watch
1. Q1 2024 data did not support confidence in inflation and path to rate cuts
2. Rate cuts "not appropriate" until greater confidence inflation is heading to 2%
3. Cutting rates too late could unduly weaken the economy
4. The US economy is "expanding at a solid pace"
5. Labor market conditions have cooled but remain "strong"
6. Elevated inflation is not the only risk we face
@Fin_Watch
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๐บ๐ธ Billionaire Warren Buffet says he could end the United States deficit problem in five minutes.
"You just pass a law that says any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."
@Fin_Watch
"You just pass a law that says any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."
@Fin_Watch
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