News
Important Only
Dollar firms but on track for weekly loss after Trump's Fed governor pick
Dollar firms slightly versus peersWeighed down this week by rate cut bets, Trump's Fed pick Traders pricing in two US rate cuts this year Pound boosted by narrow BoE vote to cut ratesBy Jaspreet Kalra and Lucy Raitano SINGAPORE/LONDON, Aug 8 (Reuters) - The dollar firmed slightly on Friday bu...Reuters
Fri, Aug 8
Fundamental Global Enters Ethereum Treasury Strategy Trend With $5B Fundraise Plan
Ethereum’s growing appeal among institutional players has taken another leap forward as Fundamental Global Inc. (FGF), a Nasdaq-listed company specializing in reinsurance, merchant banking, and asset management, revealed an ambitious $5 billion cryptocurrency strategy in a recent SEC filing.
Bitcoinist
Fri, Aug 8
TSMC July Sales Surge 26%, Driving Stock Prices Up
TradingKey - On Friday, August 8, Taiwan Semiconductor Manufacturing Co. (TSMC) reported its impressive July performance, recording revenue of NT$323.17 billion, marking the second-highest monthly total in its history and the highest for the same period in any previous year.
TradingKey
Fri, Aug 8
Tesla to streamline its AI chip design work, Musk says
Bloomberg News says Dojo supercomputer team being disbandedMusk says doesn't make sense to divide resources on AI chipsFocused on Tesla AI5, AI6 and subsequent chips, Musk says Aug 8 (Reuters) - Tesla will streamline its AI chip research to focus on its development of inference chips used to...Reuters
Fri, Aug 8
Was Kugler’s Departure a Coincidence or Part of Trump’s Strategy?
TradingKey – In the politically sensitive run-up to the U.S. election, Federal Reserve Governor Adriana Kugler unexpectedly announced her early resignation on August 1 via social media, sparking widespread attention. On the heels of her announcement, Donald Trump nominated Stephen MiranTradingKey
Fri, Aug 8
SMIC Q2 Revenue Up But Profits Shrink: How Capacity Expansion & Price Wars Squeezed Margins?
TradingKey - Semiconductor Manufacturing International Corporation (SMIC), China’s chip manufacturing leader, faced immediate selling pressure on August 8 following its quarterly results disclosure. Shares plunged 8.19% to HK$48.66 by press time.TradingKey
Fri, Aug 8
[Reuters Analysis] Buffeted by Trump and vote-rigging charges, India's Modi starts to push back
NEW DELHI, Aug 8 (Reuters) - Indian Prime Minister Narendra Modi is navigating one of the most challenging stretches of his 11 years in office. A contentious ceasefire with archenemy Pakistan, renewed scrutiny over his age and a diplomatic chill with the United States despite much-publicised rapportReuters
Fri, Aug 8
Should You Buy Super Micro Stock After Its 20% Post-Earnings Drop? Wall Street Says This Will Happen Next.
Super Micro Computer (NASDAQ: SMCI) shares tumbled nearly 20% on Aug. 6, because of disappointing financial results. But most Wall Street analysts think the selling was slightly overdone. The median target price of $50 per share implies 8% upside from the current share price of $46.The Motley Fool
Fri, Aug 8
EMERGING MARKETS-Asia FX, stocks mostly subdued as markets assess Fed outlook, tariff moves
Aug 8 (Reuters) - Asian currencies were subdued on Friday, while equities were mixed, as investors weighed the Federal Reserve's expected dovish tilt and the impact of U.S. import tariffs on regional economies.Reuters
Fri, Aug 8
Dow Jones futures rise on dovish Fed outlook, chip stocks outperform
Dow Jones futures advance during early European hours, ahead of the market opening in the United States (US) on Friday, trading above 44,100, up by 0.14%. Meanwhile, S&P 500 futures rise by 0.16% to 6,370, and Nasdaq 100 futures appreciate 0.18% to trade around 23,300.Fxstreet
Fri, Aug 8
Ethereum Nears $4,000 — Institutional vs. Retail Tug-of-War Intensifies
On Friday, August 8, Ethereum (ETH) surged over 7% in 24 hours, briefly touching $3,968 before settling around $3,911, driven by a wave of bullish catalysts including President Trump’s executive order allowing 401(k) retirement plans to invest in crypto assets.
TradingKey
Fri, Aug 8
SoftBank Quarterly Profit Soars to ¥421.8B; Son's Bet Pays Off as Shares Jump 13%
TradingKey - SoftBank Group has announced a substantial leap in performance for the first quarter of fiscal year 2024, reporting a net profit of 421.8 billion yen. This not only significantly exceeded the market's general expectation of 127.6 billion yen but also marked a strong turnaround from a...TradingKey
Fri, Aug 8
PRECIOUS-US gold futures hit record high after report of US tariffs on gold bars
US gold futures jump to an all-time high of $3,534.10US imposes tariffs on 1-kg gold bars, Financial Times reportsSpot gold on track for second straight weekly gain, up about 1% By Anmol Choubey Aug 8 (Reuters) - U.S. gold futures climbed to a record high on Friday after a report that the United ...Reuters
Fri, Aug 8
U.S. Treasury Auctions Face “Triple Weakness” in August — 30-Year Demand Echoes May’s Bond Market Nightmare
TradingKey - After lackluster auctions of 3-year and 10-year Treasuries earlier in the week, the 30-year bond auction on Thursday, August 7 also showed signs of weak demand — marking a troubling “three-peat” of soft results and reviving memories of May’s long-end bond market turmoil.TradingKey
Fri, Aug 8
