The latest US employment figures, which fell well short of expectations, have radically altered market expectations regarding the Federal Reserve's key interest rate path.
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Wall Street ended Thursday on a shaky note as disappointing drug trial results, new trade tariffs, and cautious corporate guidance weighed on sentiment. While Apple (AAPL | +3.2%) basked in the glow of domestic investment optimism, heavyweights like Eli Lilly (LLY | -14.1%) and Airbnb (ABNB | -8.0%) dragged major indexes in opposite directions.
The FT reports that the US has slapped tariffs on imports of one-kilo gold bars, in a move that threatens to upend the global bullion market and deal a fresh blow to Switzerland, the world’s largest refining hub.
President Donald Trump signed executive orders on Thursday allowing cryptocurrency investments in 401(k) retirement plans, potentially opening $40 trillion in retirement savings to digital assets like Bitcoin
Markets fell from their opening bell levels in the green across the board, and stayed down until a late surge brought indexes off their lows, and Nasdaq was able to eke out a positive day.
The Japanese Yen attracts some intraday sellers after the Summary of Opinions from the BoJ's July meeting showed that policymakers remain worried about the potential negative impact of higher US tariffs on the domestic economy.
