Fed holds rates steady, Powell says September cut 'could be on the table' (6 min read)

Fed Chair Jerome Powell hinted that the central bank might cut interest rates at its September meeting if economic data supports such a move. Despite recent trends showing inflation nearing the Fed's 2% target and a slight rise in unemployment, the Fed continued to hold rates steady in their latest decision. Powell emphasized that any decision on rate cuts will depend on a comprehensive assessment of economic data, with a potential reduction likely to be 0.25%.

Bank of Japan lifts rates as Fed inches towards cut (3 min read)

The Bank of Japan has raised interest rates for the first time in 15 years and plans to slow its massive bond purchases, signaling an end to a decade of heavy stimulus. This unexpected move aims to gradually normalize Japan's monetary policy under Governor Kazuo Ueda. The decision contrasts sharply with the US Fed's expected rate cuts, marking a significant shift in Japan's economic strategy.

Meta shares pop on revenue and earnings beat, better than expected forecast (4 min read)

Meta’s stock jumped in the after-market as the company posted revenue and profits surpassing analysts’ expectations. It reported a 22% increase in Q2 revenue and significant growth in net income, alongside steady user engagement across its apps. Mark Zuckerberg emphasized the company's ongoing investments in AI and metaverse technologies to stay competitive. The company’s outlook for the next quarter is also positive, bolstering confidence in Meta amid broader uncertainties about AI and the tech industry.

Intel to Cut Thousands of Jobs to Reduce Costs, Fund Rebound (2 min read)

Intel is planning significant job cuts to reduce costs and support its efforts to recover from declining earnings and market share losses. The layoffs, expected to be announced soon, come as Intel focuses on improving its technology and manufacturing capabilities under the current CEO. This move is part of a broader strategy to regain its competitive edge in the semiconductor industry, particularly against rivals like Nvidia and AMD.

Crypto ETFs to hit ‘model portfolios’ toward year end — BlackRock (2 min read)

BlackRock recently announced that digital currency-backed ETFs, such as Bitcoin and Ether, are expected to be added to model portfolios by late 2024. These portfolios, used by major brokerage firms, provide diversified investment strategies and highlight the role of crypto ETFs as portfolio diversifiers. BlackRock also projects significant growth in model portfolio management, with assets expected to increase from $4.2 trillion to $10 trillion over the next five years.

Are Political ETFs A Path To Riches? (4 min read)

As the US Presidential election approaches, interest in how candidates like Kamala Harris and Donald Trump invest has led to political theme ETFs like NANC, KRUZ, DEMZ, and ACVF getting more attention. These ETFs invest in companies favored by Democratic or Republican figures or reflect broader political values. While they offer a way to align investments with personal beliefs, experts caution that these funds may not provide a distinct investing edge.

Most 'finfluencers' will lose your money. Here's why they've got so many followers anyway (2 min read)

Scrolling social media for investment tips? A recent study by the Swiss Finance Institute reveals that following "finfluencers" might not be as lucrative as it seems. While 28% of these influencers provide profitable advice, 56% give money-losing recommendations. Interestingly, those consistently giving poor advice, or "antiskilled" finfluencers, often have more followers due to their optimistic outlooks, even though their advice results in a negative 2.3% monthly return.

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