Investors Betting Against ARK ETF? Here is Why
(WSJ) “Big Short” investors led by Michael Burry and hedge funds are betting for further plunges of the ARK Innovation ETF, which is already down 6.9% this year. At the…
Construction Costs and Supply Shortages Push Builders Confidence to a 13-Month Low
(NAHB) US builders’ sentiment for newly constructed single-family homes fell five points to reach a 13-month low of 75 in August. Current sales conditions index plunged five points to 81,…
Walmart Reports a 21.4% Jump in Income in Q2, Upgrades Guidance
(Walmart) Walmart Inc. announced a 21.4% increase in its operating income to $7.2 billion in the second quarter of 2022 from the second quarter of the last fiscal year, driven…
US Industrial Production Surges 0.9% in July as Motor Vehicle Show Strengths
(Federal Reserve) US saw its industrial production rise by 0.9% in July, a further rise from 0.2% increase in June. July’s total industrial production was 6.6% above last year level,…
US Retail Sales Drop to a Worse than Feared 1.1% in July as Covid Bite
(Census Bureau) US retail and food services sales fell 1.1% to $617.7 billion in July from June, below the expected drop of 0.3% as Delta variant slowed activity and stimulus…
Home Depot’s Q2 Net Earnings Rose by 11% Driven by Growing Sales
(The Home Depot) Home Depot Inc. announced an 11% increase in net earnings to $4.8 billion in the second quarter of 2021, compared to the same period last year. The…
PBC’s Shenzhen Branch Targets up to 11 Companies in Crypto Crackdown
(Global Times) China’s central bank in Shenzhen branch is targeting 11 new companies which it suspects are engaging in illegal cryptocurrency activities. The Shenzhen branch identified a domestic financial website…
Taliban’s Reign May Allow Beijing to Exploit Afghan’s Rare Metals-Analysts
(CNBC) Analysts are warning that the Taliban’s reign in Afghanistan may allow China to exploit its rare metals, which are estimated to run into trillions of dollars. Alliance Bernstein director…
GDP Grows by 2% in the Euro Area and 1.9% in the EU in Q2
(Eurostat) The euro area recorded a 2.0% quarter-over-quarter jump in the gross domestic product in the second quarter, exceeding the EU’s 1.9% in the same period. The GDP jump was…
Boston Fed Ronsengren Supports Bond Tapering on Further Robust Job Gains
(Reuters) The president of Boston Fed Eric Rosengren says if the US posts another strong job gains, it will satisfy the central bank’s requirements for tapering bond purchases. Rosengren referred…
India Relaxes Rules on FX Trade on Foreign Banks
(Bloomberg) Foreign banks can now resume profitable currency trade in India after the central bank loosened its grip on sovereign bonds. The Reserve Bank of India ruled that foreign sovereign…
BHP Issues a Record $15B FY21 Dividend after Profit Jumps 80% in FY21
(BHP) BHP board approved a record final dividend of $2.00 per share, with total shareholder returns now exceeding $15 billion for the financial year ended June 30. Profit from operations…
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