More than 1.1 million job cuts expected this year – the largest since the 2020 pandemic.
Employers in the U.S. have reported over 1.1 million layoffs this year, marking the highest number since the onset of the COVID-19 pandemic in 2020, according to a Thursday report from consulting firm Challenger, Gray & Christmas. In November, there were 71,321 job cuts, a decrease from the 153,000 reported in October. The firm noted […]
Asian markets largely increase following Wall Street’s gains driven by hopes of interest rate cuts due to disappointing jobs data.
Asia-Pacific Markets Show Slight Gains On Thursday, the Asia-Pacific markets were mostly up following a rise on Wall Street. This uptick was fueled by the anticipation that the Federal Reserve might lower interest rates next week, especially after a jobs report that fell short of expectations. According to payroll processor ADP, private companies saw a […]
Bitcoin Price Update: Optimism from Bulls on Rate Cuts Faces Challenges from Strong Bond Yields
Crypto and Bond Market Dynamics While some crypto enthusiasts are hoping that a rate cut from the Federal Reserve might lead to lower bond yields and a weakened dollar, the bond market seems to suggest otherwise. The Fed is likely to maintain its easing cycle, which started back in September, with a predicted 25 basis […]
Australian Dollar strengthens as rising inflation lowers hopes for RBA cuts
The Australian dollar (AUD) gained ground against the US dollar on Friday, marking its sixth consecutive day of increases. The currency’s rise is largely attributed to a surprising uptick in inflation, which has shifted expectations regarding potential easing by the Reserve Bank of Australia (RBA) and raised the likelihood of additional interest rate hikes. Recent […]
US Dollar Index falls below 99.50 due to anticipated interest rate cuts
The US Dollar Index (DXY), which gauges the value of the US dollar against a mix of six international currencies, was in the red at about 99.45 during early European trading on Thursday. Rising expectations for a potential interest rate cut by the Federal Reserve (Fed) at its December meeting have contributed to this decline. […]
South Korea maintains stable rates due to foreign exchange risks limiting the possibility of cuts.
South Korea’s Central Bank Holds Interest Rates Steady In a recent meeting, South Korea’s central bank decided to keep interest rates unchanged for the fourth time in a row. The decision comes amid a significant drop in the won, which has limited the scope for further rate reductions, indicating that the current cycle of cuts […]
Gold price update for Monday, November 24: Gold stays under $4,100 amid increasing optimism for interest rate cuts
Gold Futures Update Gold futures started the week on Monday at $4,069.20 an ounce, dipping by 0.3% from Friday’s closing price of $4,079.50. Since November 19th, gold prices have consistently remained below the $4,100 mark. The current outlook for interest rates plays a significant role in shaping the demand and pricing for gold. Traders now […]
Largest and most contentious zoo in Long Island will shut down after budget cuts: ‘Very sad’
Long Island Zoo Closing Amid Allegations of Abuse The largest and most contentious zoo in Long Island is set to close after local officials unanimously decided to withdraw its funding. This decision comes amidst claims of horrific animal mistreatment, with plans to transfer the affected animals to rescue facilities. On Thursday night, the Brookhaven City […]
Daily medication cuts bad cholesterol by 60% in significant clinical research
New Pill Shows Potential in Lowering Bad Cholesterol A recent study suggests that taking a new daily pill could significantly decrease bad cholesterol levels—by up to 60%. This finding comes from research on Enlisitide, created by Merck & Co., which demonstrated a remarkable reduction in “bad” LDL cholesterol. The study was published this week in […]
Fed president considers rate cuts as global brokerages disagree on job report predictions
New York Fed President Discusses Interest Rates and Labor Market On Friday, New York Fed President John Williams mentioned that there’s potential for “further correction in the short term” regarding interest rates. Traders are increasingly leaning towards a quarter-point cut at the Fed’s upcoming December meeting. Williams emphasized that the current weakness in the labor […]