24/7 Blockchain industry dynamics and breaking crypto news
Meta has updated its full-year capital expenditure guidance, narrowing the range to $130-$145 billion from $125-$145 billion. This adjustment raises the lower bound, signaling a more focused investment strategy in areas like AI infrastructure and the metaverse, while balancing cost discipline.
Read MoreRecent reports indicate President Trump made assertive comments on Middle East tensions, vowing action against Iran in response to attacks on US bases, while expressing hope for an end to the Russia-Ukraine conflict. These statements highlight renewed regional instability.
Read MoreThe US 30-year Treasury yield has surged past 5.20%, reaching its highest level since 2007. This historic move signals a profound shift in expectations around long-term inflation and interest rates, with potential ripple effects across mortgages, corporate borrowing, and global capital flows.
Read MoreMeta reported strong Q2 2024 results with revenue hitting $60.8 billion, a 28% year-over-year increase that beat estimates. While earnings per share dipped, the company provided an optimistic Q3 revenue outlook, signaling robust growth fueled by advertising and strategic AI investments.
Read MoreOn July 30, the onshore yuan closed at 6.7630 against the US dollar in night trading, gaining 80 basis points from the previous session with a turnover of $34.861 billion. This analysis explores the market drivers and implications behind the movement.
Read MoreThe Federal Reserve maintained interest rates on July 30th, marking the fifth consecutive pause this year. Major U.S. stock indices plummeted in response, with the Dow, S&P 500, and Nasdaq all falling over 1.5%. Tech stocks were hit hardest, led by steep declines in memory and optical communication sectors.
Read MoreFed Chair Wash stated the central bank is reducing forward guidance to better listen to market signals rather than unilaterally steer expectations. He linked rising Treasury yields to strong fundamentals like robust output, capital spending, productivity, and a resilient labor market, marking a shift in policy communication.
Read MoreFederal Reserve Chair Wash stated there is no inherent conflict between achieving maximum employment and price stability. He emphasized both goals can be pursued simultaneously, noting that volatile high inflation poses the real threat, not a trade-off between objectives.
Read MoreFed Chair Warsh argues the recent decision to hold rates steady is not a 'pause.' Financial markets have already tightened conditions since June, with rising Treasury yields reflecting ongoing repricing based on inflation and growth data, showing policy transmission continues.
Read MoreFederal Reserve Chair Wash reaffirmed the central bank's sole commitment to achieving 2% inflation, dismissing notions of a 'soft target.' He cited economic resilience and a prudent approach of withholding forward guidance in current uncertain conditions.
Read MoreFed Chair Wash stated that June's core CPI had limited impact on current policy decisions, noting encouraging recent inflation data. He emphasized broad committee support for the decision and indicated a focus on overall inflation trends ahead of key upcoming policy choices.
Read MoreThe Fed Chair addressed market pricing dynamics, noting that financial markets have independently reflected tighter policy expectations—a development he views as constructive. While monitoring markets closely, he emphasized the Fed will not mechanically follow traders' pricing, maintaining policy independence.
Read MoreOn July 30, precious metals saw significant gains. Spot silver surged over 3%, leading the rally, while spot gold rose 1.65%, breaking through a key level. This movement highlights shifting market sentiment and renewed interest in safe-haven assets.
Read MoreThe Fed's latest decision to hold rates passed 9-3, with three regional bank presidents dissenting in favor of a 25bps hike. This marks the first triple dissent in a single meeting since 2016, revealing deepening internal divisions over inflation and policy path.
Read MoreThe Federal Reserve's latest FOMC statement underscores that inflation remains persistently high, partly due to ongoing external shocks. This signals an extended period of restrictive monetary policy, with no imminent pivot toward rate cuts.
Read More