The U.S. dollar saw a slight increase in value, ending a five-week losing streak. The Dollar Index, tracking the greenback against a basket of other currencies, rose by 0.1% to 101.314. While this marks the best week since April, the dollar is still set for a significant drop of about 2.5% in August. This decline
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Bitcoin, the world’s biggest cryptocurrency, experienced a slight decline on Thursday as investors exercised caution in anticipation of an upcoming U.S. inflation reading that could potentially impact the outlook for interest rate cuts. The cryptocurrency fell by 1% to $58,852.9 by 01:55 ET (05:55 GMT), with expectations of losing nearly 9% in August. Throughout August,
Municipal bond markets have remained relatively stable, with U.S. Treasury yields experiencing a slight rise while equities saw a mixed ending. According to LSEG Lipper, municipal bond mutual funds recorded inflows of $1.047 billion, continuing a nine-week streak of positive flows. High-yield bonds also displayed strength, with inflows reaching $357.5 million after $355 million the
Recently, a business group took a bold step by filing a lawsuit to challenge the constitutionality of a Texas law that penalizes banks and financial firms for boycotting the fossil fuel industry. The lawsuit argues that this law infringes upon free speech and association rights protected under the First and Fourteenth Amendments of the U.S.
The recent special session of the Colorado Legislature concluded with the passing of House Bill 1001, aimed at addressing property tax cut initiatives that were creating concerns in the state’s municipal bond market. This bill was a result of a negotiated deal with the backers of Initiatives 50 and 108, who agreed to withdraw their
In recent years, there has been a noticeable shift in consumer preferences when it comes to athletic footwear. According to a report by Stifel Financial, young consumers are increasingly turning to brands like New Balance and Adidas Sambas, rather than sticking with the traditional Nike offerings. While Nike still holds the top spot with its
Best Buy, a leading consumer electronics retailer, recently announced its fiscal-year profit guidance after surpassing both earnings and revenue expectations for the previous quarter. The company reported a net income of $291 million, or $1.34 per share, which exceeded Wall Street estimates. Despite a drop in net sales to $9.29 billion from $9.58 billion the
The U.S. dollar showed signs of recovery on Thursday, following recent lows, as investors anticipated a series of crucial economic data releases. The Dollar Index, which compares the greenback against a basket of other currencies, edged 0.2% higher to 101.182 after hitting a 13-month low earlier in the week. Despite concerns about trade tensions between
In recent days, Bitcoin’s price has remained relatively stable after experiencing significant declines. The movement of nearly $2 billion tokens between wallets on a major crypto exchange caused concern among traders, leading to a sharp drop in Bitcoin’s value. Despite wild price swings in recent sessions, Bitcoin has struggled to break out of a trading
The municipal bond market has experienced a period of stability as the largest deals of the week were finalized, and the Investment Company Institute reported more than $1 billion of inflows into municipal bond mutual funds. U.S. Treasuries remained relatively unchanged, with yields fluctuating slightly throughout the day. The two-year muni-to-Treasury ratio was at 63%,