In July, China’s retail sales exceeded expectations by growing 2.7% from a year ago, slightly beating forecasts of 2.6% growth. On the other hand, industrial production did not fare as well, coming in at 5.1%, falling short of the forecasted 5.2%. This discrepancy between retail sales and industrial production paints a mixed picture of the
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The Asia-Pacific markets have shown significant gains on Wednesday, largely influenced by the U.S. producer prices coming in lower than expected for July. The producer price index, which is a key measure of wholesale inflation, only increased by 0.1% last month, falling short of economists’ expectations of a 0.2% gain. This unexpected data has prompted
European stocks experienced a slight increase on Tuesday, with the pan-European Stoxx 600 index trading 0.2% higher. This rise came after last week’s volatility, and market participants were closely monitoring the latest economic data. While utilities saw a boost of 0.8% in gains, mining stocks slipped by 0.7%. These fluctuations were reflective of the mixed
The United States is ramping up its military presence in the Middle East in response to escalating tensions in the region. A statement from the Pentagon revealed that U.S. Defense Secretary Lloyd Austin emphasized the country’s commitment to defending Israel. The deployment of more troops and military hardware aims to bolster the U.S. military force
The 2024 Paris Olympic and Paralympic Games have not only been a platform for athletic excellence but also a showcase of luxury fashion. The intersection of sports and luxury has become increasingly prominent, with athletes now being seen as fashion tastemakers and brand ambassadors. This fusion has created new opportunities for luxury brands to connect
The recent week of trading on Wall Street has been tumultuous, to say the least. The S & P 500 experienced its worst day since 2022 on Monday, followed by its best day since 2022 on Thursday. The 10-year Treasury yield fluctuated drastically, dropping below 3.7% at one point before finishing around the 4% mark.
The stock market witnessed a rollercoaster ride this past week, with the S&P 500 making an incredible comeback from Monday’s sharp decline. Despite an initial tumble on Monday, the market slowly started to recover as the week progressed. By Friday, the S&P 500 was trading 0.4% higher, almost erasing the losses it had incurred earlier
Apple is set to introduce a new era of artificial intelligence (AI) features with the rollout of Apple Intelligence, aiming to enhance user experience and boost the growth of its services business. Analysts suggest that Apple could potentially charge users up to $20 for the more advanced AI offerings, reflecting the company’s investment in AI
Sony’s finance chief, Hiroki Totoki, made it clear that the Japanese company has no intention of considering another bid for film and TV production group Paramount Global. According to Totoki, acquiring Paramount does not align with Sony’s overall strategy. He mentioned that acquiring the entire media giant could pose risks due to potential incompatibility with
As global markets continue to face sustained declines, the threat of a recession looms larger each day. According to Morningstar DBRS analysts, the direct impact of these market declines may be limited. However, the real concern lies in the potential for these declines to turn into a self-fulfilling prophecy. If corporate CEOs start cutting back