Supreme Court Upholds 2017 Tax On Foreign Profits For US Businesses
US Supreme Court upholds 2017 tax on foreign business income, citing Congress' constitutional power to tax. Justices Kavanaugh, Thomas, and Gorsuch dissented.
Interest Rate Decisions: Bank Of England Holds Firm, Swiss National Bank Reduces Further — Will Fed Cut In September?
Bank of England kept rates steady while Swiss National Bank cut its key rate. UK ETFs ticked up, with EWU up 0.66%, FLGB up 0.7%, and FKU up 0.57%. BOE is expected to cut rates in August, while other European central banks have already begun easing.
US Treasuries Set To Break Even After Rocky First Half Of 2024
US Treasuries steady despite volatile start to 2024, as Fed may cut rates due to falling prices. Bonds now seen as valuable in portfolio.
Economist React To May Retail Sales Data: ‘Consumer Spending Is Cooling In A Fairly Orderly Fashion’
US retail sales for May missed expectations, raising concerns about economic growth. Resilient consumer spending has been a key factor in the bull market.
State Street Technology ETF To Put Nvidia Before Apple In Revamp
Tech ETF to boost Nvidia exposure at Apple's expense, triggering billions in trading volume. Rebalance to reflect Nvidia's market value surpassing Apple's.
Retail Sales Preview: May Numbers Expected To Rise As Consumers ‘Feeling More Positive’
US retail sales for May are expected to improve by 0.2% from April and 2.8% year over year. Inflation eases as Fed plans only 1 rate cut this year.
China’s Housing Funk Deepens As Manufacturing Falls Short
China's housing market declined in May due to low investment and home prices, while industrial output improved. Retail sales exceeded expectations.
Mortgage Rates Fall For Second Straight Week In Response to Positive Economic Data
Mortgage rates dropped for a second week in a row. Thirty-year fixed-rate average was 6.95%, down from 6.99% last week.
Putin Promises Ceasefire, But Ukraine Calls Proposal ‘Absurd’
Putin promises to order cease-fire and start negotiations with Ukraine if Kyiv removes troops from disputed regions and abandons plans to join NATO.
Bank Of Japan’s Bond Purchase Reduction Leaves ETFs Flat, Yen Softens
U.S. Japan bond ETFs flat after Bank of Japan's bond purchase reduction. Market reacts but individual ETFs show varied performance.