Mining The Markets

Updated

Investors rush to money market funds before Fed rate cut, BofA says

BY Reuters  • August 23, 2024August 23, 2024
By Harry Robertson LONDON (Reuters) – Investors poured $37 billion into cash-like money market funds (MMFs) in the week to Wednesday, Bank of America said on Friday, as they braced for the U.S.[...]
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European shares end higher as Fed Chair Powell backs September rate cuts

BY Reuters  • August 23, 2024August 23, 2024
By Pranav Kashyap and Shashwat Chauhan (Reuters) -Europe’s STOXX 600 ended near session-highs amidst broad-based gains on Friday, as global markets advanced after Federal Reserve Chair Jerome Po[...]
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Kamala Harris says she will aim to pass middle class tax cut as president

BY Reuters  • August 23, 2024August 23, 2024
By Nandita Bose and Kanishka Singh CHICAGO (Reuters) -Democratic presidential candidate Kamala Harris said in her Democratic National Convention speech on Thursday that as president she will aim to pa[...]
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South African rand jumps as Fed’s Powell signals lower rates

BY Reuters  • August 23, 2024August 23, 2024
JOHANNESBURG (Reuters) -The South African rand jumped on Friday, after comments by Federal Reserve Chair Jerome Powell signalled an interest rate cut next month. At 1520 GMT, the rand traded at 17.71[...]
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Sterling climbs to highest since March 2022 against dollar

BY Reuters  • August 23, 2024August 23, 2024
(Reuters) – Sterling climbed to a more than two-year high on the dollar on Friday, on recent signs of strength in the UK economy and dovish comments from Federal Reserve Chair Jerome Powell that[...]
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Grocery stores boost donations as Democrats criticize their business practices

BY Reuters  • August 23, 2024August 23, 2024
By Bo Erickson WASHINGTON (Reuters) – The level of political donations from major food companies accepted by Democratic lawmakers has ticked higher this congressional election cycle, even as man[...]
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Canada June retail sales down 0.3% as rates weigh; likely up in July

BY Reuters  • August 23, 2024August 23, 2024
By Promit Mukherjee OTTAWA (Reuters) -Canada’s retail sales dropped in June, data showed on Friday, as consumers continued to feel the impact of high interest rates and cut back on discretionary[...]
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Factbox-Brokerages predict September rate cut as market braces for Powell speech

BY Reuters  • August 23, 2024August 23, 2024
(Reuters) – Most brokerages have forecast a 25 basis points interest rate cut by the U.S. Federal Reserve in September, even as financial markets strap in for clearer cues from Chair Jerome Powe[...]
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Japan’s core inflation picks up, but demand-driven growth below 2%

BY Reuters  • August 23, 2024August 23, 2024
By Makiko Yamazaki and Satoshi Sugiyama TOKYO (Reuters) -Japan’s core inflation accelerated for a third straight month in July, data showed on Friday, but a slowdown in demand-driven price growt[...]
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