Strategas evaluates 14 broad U.S. economic sectors monthly, categorizing them as Assets or Liabilities. This month, their net balance sheet calculation declined to +1, signaling growing economic concerns. However, several key supports in the U.S. economy remain robust.
The dollar fell slightly on Thursday as U.S. Treasury yields stabilised, after the currency rose to a two-week high the previous day amid easing bets on Federal Reserve interest rate cuts.
Oil prices slipped lower Thursday on concerns of slowing U.S. economic activity, exacerbated by high interest rates, overshadowing a larger-than-expected draw in U.S. inventories.
Bitcoin price rose marginally on Thursday, remaining pinned within a trading range as anticipation of key U.S. economic data, which is likely to factor into the outlook for interest rates, kept traders to the sidelines.
The best performers of the session on the Tadawul All Share were The Mediterranean&Gulf Insurance Co (TADAWUL:8030), which rose 7.66% or 2.10 points to trade at 29.50 at the close. Meanwhile, Al Masane Al Kobra Mining Company CJSC (TADAWUL:1322) added 5.37% or 3.20 points to end at 62.80 and Alkhorayef Water and Power Technologies Co (TADAWUL:2081) was up 4.55%…
Thailand’s new finance minister has caught investor attention with a more conciliatory approach to the central bank, opening a window for policy coordination to support battered markets.
The dollar held firm on Wednesday, boosted by higher U.S. yields ahead of key inflation data later in the week, and gaining on the Japanese yen as placid markets encouraged investors to resume carry trades.
Oil markets were boosted by growing optimism over the U.S. summer season, which usually marks at least two months of elevated demand in the world’s biggest fuel consumer.
Financial commentator Peter Schiff, known for his critical stance on Bitcoin, recently took to social media with a series of posts that blended sarcasm and financial speculation.
Broader U.S. stocks were largely subdued in anticipation of key inflation data this week. PCE price index data, which is the Federal Reserve’s preferred inflation gauge, is due this Friday, and is likely to factor into the central bank’s outlook on interest rates.
