The Dow Jones Industrial Average (DJIA) ended its impressive winning streak on Thursday, experiencing a decline as stocks pulled back and bond yields rose. This shift came after U.S. economic growth surged in the second quarter. Stock Market Performance According to preliminary FactSet data, the DJIA fell around 237 points, or 0.7%, and closed near 35,282. The S&P 500 index … [Read more...] about Dow Snaps Longest Win Streak in Almost 40 Years
T-Mobile Shares Slip After Mixed Q2 Results
T-Mobile shares are taking a hit as the mobile carrier announces its second-quarter results. While profits exceeded expectations, revenue fell short. Q2 Numbers T-Mobile reported revenue of $19.2 billion for the June quarter, a 2.6% decrease compared to the same period last year. Although slightly below the Wall Street consensus forecast of $19.3 billion, the company's profits … [Read more...] about T-Mobile Shares Slip After Mixed Q2 Results
The Federal Reserve’s Preferred Measure of Price Growth
The Federal Reserve's preferred measure of price growth is expected to have slowed significantly in June, adding to the ongoing decline from its peak. The question now is how long this relief can last. Forecasted Slowdown in Core PCE Price Index Economists are forecasting that the core personal consumption expenditures (PCE) price index climbed by 0.2% in June, based on … [Read more...] about The Federal Reserve’s Preferred Measure of Price Growth
Bond Yields Rebound Ahead of Inflation Data
On Friday, bond yields made a swift turnaround as investors eagerly awaited important inflation data. What Transpired The yield on the 2-year Treasury TMUBMUSD02Y, 4.874% dropped by 6.2 basis points to 4.87%. It's worth noting that yields move inversely to prices. Similarly, the yield on the 10-year Treasury TMUBMUSD10Y, 3.978% fell by 2.6 basis points to 3.98%. Additionally, … [Read more...] about Bond Yields Rebound Ahead of Inflation Data
AstraZeneca’s Acquisition of Gene Therapies Portfolio
AstraZeneca PLC (AZN) has recently announced a significant deal, acquiring a portfolio of gene therapies from Pfizer Inc. (PFE) for up to $1 billion. Set to close in the third quarter, this strategic move will provide AstraZeneca with a collection of early-stage gene therapies that specifically target rare diseases. This development holds immense potential as it has the … [Read more...] about AstraZeneca’s Acquisition of Gene Therapies Portfolio
