Month: October 2024

Job openings in September tumbled by 418,000 to 7.443 million.

That was the lowest since February 2021 and much worse than the 7.980 million expected. Not to mention, August job openings were revised lower from 8.040 million to 7.861 million. The weak JOLTS reports adds to evidence of a slowing labor market and raises the chances of further rate cuts by the Fed this year. submitted by /u/glira31 [link] [comments]

Google wants to impose a fine of two undecillion rubles. The price is 2,000,000,000,000,000,000,000,000,000,000,000,000,000 rubles, approximately 217 quintillion times more, and a pittance to the world.

A Russian court imposed this absurd fine on Google after blocking Russian propaganda channels on YouTube such as RT and other state-controlled media. The court demands that Google restore access to these channels, and if it refuses, it imposes daily fines that double every week. The size of the fine of two undecillions of rubles (~$22.1 trillion) is clearly not comparable with either the global money supply or the real economy, which causes ironic reactions from many observers. The fine is more of a political gesture than a realistic requirement, since the amount is clearly unattainable even for such a large corporation as Google. The case highlights the tense relationship between Russia and Western tech giants, who continue to restrict Russian content in response to sanctions and censorship policies. submitted by /u/glira31 [link] [comments]

Paolo Ardoino: The U.S. Could Destroy Tether “With the Push of a Button.” Isn’t that just perfect! Anyone still doubting it?

Tether’s CEO, Paolo Ardoino, reminded everyone just how dependent the USDT stablecoin operator remains on the United States. In an interview with Coindesk, given a day after The Wall Street Journal published its report on an investigation into Tether, he again emphasized that the company responds to intelligence agency requests and follows sanction compliance rules. Tether collaborates with the FBI, Secret Service, and even has letters of appreciation from the U.S. Department of Justice. Altogether, the company works with 180 government agencies worldwide. According to him, Tether is fully dependent on U.S. government decisions, as the treasury bonds that make up the bulk of USDT reserves are held in accounts at Cantor Fitzgerald Bank. “No matter where you hold your bonds, they will ultimately end up in a Federal Reserve account,” Ardoino said, adding that if the U.S. wants to destroy the company, they could do it “with the push of a button.” submitted by /u/XGramatik [link] [comments]

So, the iPhone maker officially rolled out its first AI features on Monday, and…

Let’s just say it didn’t exactly break the world. Email summaries, a few photo editing tools, and minor tweaks to Siri? Yeah, not exactly Blade Runner territory. So, why the hype if even Apple admits the real cool stuff isn’t coming until next year? Well, the market’s just impatient, thirsty for anything AI-related. Meanwhile (devs, take notes), a hilarious idea is trending: what if iOS tracked how many kilometers we scroll every day on our phones? Honestly, that’s the only marathon I’d ever dominate. 🏆📱 https://preview.redd.it/ce5n8fvpgpxd1.jpg?width=1280&format=pjpg&auto=webp&s=0e07419504a0c148d19bc147b7ba811e9f1ad942 submitted by /u/FXgram_ [link] [comments]

Ford, PayPal and DR Horton fall premarket; Pfizer rises

Ford stock fell 6.5% after the automaker tempered its full-year profit forecast, blaming supplier disruptions and warranty costs amid a global price war fueled by overcapacity. PayPal stock fell 5% after the digital payments giant reported third-quarter earnings that beat analyst estimates, but revenue fell short of expectations. Pfizer stock rose 1.6% after the drugmaker raised its full-year profit forecast after better-than-expected sales of its COVID-19 treatment helped it beat estimates for third-quarter earnings. Royal Caribbean stock rose 0.7% after the cruise operator reported strong third-quarter numbers, even if its fourth-quarter earnings guidance disappointed. DR Horton stock slumped 9.6% after the home construction company missed Q4 estimates on top and bottom lines and issued weak guidance for fiscal 2025. VF Corp stock surged 19% in premarket trading on Tuesday after the struggling apparel and footwear maker reported a profit following two quarters of losses, prompting investors to bet on a faster-than-expected turnaround. JetBlue stock fell 5.6% after the carrier forecast falling revenue for the current quarter, overshadowing a quarterly earnings beat. Boeing stock fell 1.2% after the aircraft manufacturer said it raised around $21 billion in an upsized share sale, with the capital raise aimed at shoring up its cash position. McDonald’s stock fell 2.3% after the fast food giant issued disappointing global comparable sales, even as the company topped earnings estimates. SoFi Technologies stock rose 3% after the fintech company reported better-than-expected third quarter results and raised its full-year outlook. submitted by /u/Lor1al [link] [comments]

Apple set for biggest revenue jump in two years on iPhone demand in China

Apple is expected to report its biggest quarterly revenue jump in two years on Thursday, with iPhone demand faring better than recent years toward the end of the company’s annual release cycle, especially in China. The results will provide investors the first hints of demand for the latest iPhone 16 series, which was released a few days before the end of the company’s fiscal fourth quarter. But the focus will be on executive commentary for its fiscal first quarter amid fears that releasing its Apple Intelligence features at a slow pace could dampen a much-awaited AI-led “super-cycle” for Apple’s biggest seller. The company is playing catch-up in AI as Android smartphone rivals such as Samsung Electronics and software rivals such as Microsoft aggressively roll out applications aimed at tapping the generative AI boom. “The strength of the iPhone 16 cycle is the most important question heading into both the December quarter and FY25,” Bernstein analyst Toni Sacconaghi said. “Investors should expect Apple to be upbeat about iPhone 16 and Apple Intelligence, but it may or may not necessarily reflect the ultimate success of the cycle.” The company on Monday started a limited rollout of the features to U.S. customers in English, weeks after the iPhone 16 went on sale. For now, Apple Intelligence will remain unavailable in key markets including Europe and China, where the tech giant is under pressure from a resurgent Huawei, as well as other domestic players such as Vivo, Xiaomi and Honor. That has raised worries that customers may push device purchases from the all-important holiday season to next year, delaying a potential boost to sales from AI. In the September quarter, Apple is expected to report a 3.8% increase in iPhone sales, according to analysts’ estimates compiled by LSEG. That would snap two quarters of decline. Its overall revenue is expected to rise 5.7% in the July-September period, which makes up its fiscal fourth quarter, LSEG data showed. Revenue from Greater China is expected to rise 6.6%. Some iPhone models, including a version of the iPhone 16 Plus, had discounts of 10% on online retail platform Pinduoduo ahead of the model’s official release, according to local reports. That as well as the iPhone 16 series helped Apple finish with the second-largest share of the Chinese market in the three months to September, according to IDC data. Sales of iPad are set to rise 10.1% to $7.09 billion after a 23.7% jump in the prior three months, powered by launches of more powerful versions of the tablet. The services business – which includes its App Store and usually outpaces growth in Apple’s devices – is expected to see a 13.3% rise in sales, a tad slower than the prior quarter. The business faces rising hurdles after European Union antitrust regulators charged Apple with breaching the bloc’s tech rules in June. Apple’s lucrative deal with Alphabet that makes Google the default search engine in iOS is also facing scrutiny in the U.S. Its fourth-quarter results will also include a one-time income-tax charge of about $10 billion after Europe’s top court ruled against Apple in September in its court battle over its tax affairs in Ireland. https://preview.redd.it/a43c9opl9oxd1.png?width=800&format=png&auto=webp&s=3ff1a8c22f04b7f87db2186a338619537f8b5606 submitted by /u/Lor1al [link] [comments]

Base stablecoin transaction volume briefly tops all other chains.

The Coinbase-developed Ethereum layer-2 network Base was briefly the number one blockchain for stablecoin volume on the same day it hit a new all-time-high transaction count. Notching a record market share of stablecoin volume on Oct. 26, Base accounted for 30.06% of all stablecoin volume, beating out other chains, including Solana, Ethereum, and Tron, for the number one spot. https://preview.redd.it/ypjcmlmf0oxd1.png?width=1394&format=png&auto=webp&s=41e730f95596a94de8173d51aabbc666781c247b submitted by /u/Lor1al [link] [comments]

Lufthansa reports 9% decline in third-quarter profit as core brand struggles

German airline group Lufthansa reported on Tuesday a year-on-year fall in its operating profit in the third quarter, as its flagship brand struggles with low yields, competition with international airlines and spiralling costs. The third-quarter operating profit of 1.3 billion euros ($1.41 billion) was largely in line with the expectations of analysts polled by the company, but 9% lower than a year earlier. “Delayed aircraft deliveries, punctuality issues at our hubs in Germany and regulatory disadvantages are impacting our core brand,” CEO Carsten Spohr said in a statement. The third quarter, which includes the busy summer months for travellers, is usually the strongest for European airlines. But rising costs, unpredictability tied to the crisis in the Middle East and plane delivery delays continue to weigh on results. Shares of Lufthansa were down 3.7% in pre-market trading after the group’s third-quarter results were announced. Lufthansa’s passenger airlines, which include its namesake brand as well as carriers such as Austrian Airlines, Swiss International and Eurowings, generated an operating profit of 1.2 billion euros in the third quarter, down from 1.4 billion in the same period of 2023. The decline was driven mainly by a 234-million-euro decline in the result of its core brand Lufthansa Airlines, the company said in a statement. A slower recovery in corporate travel contributes, too, analysts said. “They probably face the toughest industrial backdrop out of any European airline – they were the most dependent on corporate revenue pre-pandemic,” Alex Irving, an analyst at Bernstein, told Reuters. In particular, the airline has repeatedly complained about its struggle to compete with Chinese carriers still able to fly over Russian airspace, prompting Lufthansa to suspend its Frankfurt to Beijing route. Yields, a proxy for airfares, fell 14% in the Asia-Pacific region in the third quarter, the company reported. “The fact that Lufthansa now must remove one of its oldest routes, Frankfurt-Beijing, from its flight schedule shows how much the balance of international competition is shifting,” a Lufthansa spokesperson told Reuters in an email. “European airlines are in an extremely unequal competitive position with China, as well as with airlines from the Persian Gulf and Bosporus.” TURNAROUND The group has launched a turnaround programme at its core brand in an effort to recover after a difficult earnings year to date. Lufthansa has already issued two profit warnings this financial year, as it grappled with costs tied to strikes. By 2026, the cost-cutting measures will have a gross effect on operating profit of around 1.5 billion euros, according to the company. Lufthansa confirmed its outlook for the full year, targeting group operating profit in a range of 1.4 billion to 1.8 billion euros, and maintaining 8% as a mid-term target for its operating profit margin. Analysts have cast doubts on whether this can be achieved by 2026. The profit margin for the 2024 financial year is expected at 4.3%, according to a company-led analyst consensus. https://preview.redd.it/xdn5y9okonxd1.png?width=800&format=png&auto=webp&s=86e92c60ade96e457fc8eec17b576d984eb700bf submitted by /u/Lor1al [link] [comments]

Germany needs reform and investment to overcome recession, says IMF Europe head

The European head of the International Monetary Fund stated in an interview with Sueddeutsche Zeitung that Germany needs structural reforms and increased public infrastructure investment to overcome its current recession. To mobilize more funds, Alred Kammer suggested adjusting credit regulations, mentioning that the IMF had previously calculated that Germany’s debt brake could be relaxed without causing an increase in the debt-to-GDP ratio. Finance Minister Christian Lindner remains firm on adhering to the debt brake, which limits the budget deficit to 0.35% of GDP, despite a projected second consecutive year of recession and weak growth. Meanwhile, Economy Minister Robert Habeck has recently suggested a multibillion-euro fund to boost investment and address sluggish economic performance. When asked about the ongoing policy debate between Lindner and Habeck, Kammer commented that it would be beneficial for politicians to communicate a clear medium- and long-term strategy, especially in regard to climate-friendly economic transformation, as “companies will only invest if they know what is going to happen in the next ten to 15 years.” https://preview.redd.it/i2wiowl2pnxd1.png?width=800&format=png&auto=webp&s=fa1a26dbd700d7cd15a4dff3898e902c29fb8758 submitted by /u/Lor1al [link] [comments]

Microsoft earnings are this week. Here’s what Wall Street expects

Microsoft is set to report earnings for its fiscal first quarter on Wednesday, after disappointing artificial intelligence sales in the last quarter. The tech giant is expected to report revenues of $64.57 billion for the first quarter of fiscal year 2025, according to analyst estimates compiled by FactSet . Microsoft’s Productivity and Business Processes unit is expected to report revenue of $23.6 billion, its Intelligent Cloud unit is expected to report $26.8 billion, and its Personal Computing unit is expected to report $14.1 billion in revenue for the quarter, according to estimates. The company is expected to report earnings per share, or EPS, of $3.11 for the first quarter, according to FactSet. Microsoft’s revenue expectations are below the $64.7 billion it reported for the fourth quarter of fiscal year 2024. Despite beating Wall Street’s expectations, its shares fell after its Intelligent Cloud unit sales of $28.7 billion came in below expectations. Microsoft’s capital expenditures of $13.9 billion were up 55% year over year, and $200 million over analyst expectations. Microsoft chief executive Satya Nadella received a $79.1 million payout during the last fiscal quarter — a 63% bump from the $48.5 million he received during the same quarter the previous year. However, Nadella took a pay cut to show “personal accountability” after multiple cybersecurity breaches hit the company this year, according to a letter to shareholders from the compensation committee. Shares of the company were up almost 1.3% during mid-day trading on Friday. Microsoft’s stock is up around 16% so far this year. In November, the company will make a public preview available for customers to build their own autonomous agents in Copilot Studio that can “understand the nature of your work and act on your behalf.” The company also announced 10 new autonomous agents for its enterprise platform, Dynamics 365. The new agents are designed for workers in “sales, service, finance, and supply chain,” but the company plans to develop more agents, it said. The 10 autonomous agents will become available for public preview later this year and into early 2025. https://preview.redd.it/b2wqflmo6hxd1.png?width=800&format=png&auto=webp&s=026f1a59bc83536e2827a45cd76928fd99de0613 submitted by /u/Lor1al [link] [comments]

Intel (INTC) stock has been sliding under CEO Pat Gelsinger, erasing the performance-based equity awards he was granted when he became the chip maker’s top executive. If shares don’t assume an Nvidia-like trajectory soon, he stands to see more than $100 million in paper value wiped out.

Since Gelsinger became Intel CEO on Feb. 15, 2021, shares have dropped 63% to $22.68 at Friday’s close from $61.81. Shares of the chip maker have lost more than half their value for the year to date alone, and set a multiyear low of $18.51 on Sept. 10. Intel stock last traded below $19 in October 2010. If Intel stock doesn’t trade at $148.95 for 90 calendar days by Feb. 15, 2026—about 16 months from now, the fifth anniversary of Gelsinger’s hiring—outperformance PSUs with an accounting value of $45.7 million at the grant date will be canceled. If shares don’t trade at $74.47 for those same time parameters, performance stock options valued at $29.1 million are gone. If shares don’t reach $64.54, $34.2 million of strategic growth PSUs will wither and die. Hitting $64.54, $74.47, and $148.95 would require Intel stock to rocket 185%, 228%, and 557%, respectively, from Friday’s close. Looks unreachable. And it’s unlikely that the wave of planned layoffs and the cancellation of free coffee and tea for employees at Intel Israel, as reported on Sunday, October 27, will contribute to such growth. https://preview.redd.it/cvgykh8jmgxd1.png?width=316&format=png&auto=webp&s=e1dc989390b3f5bff47f1f350db1d0026e63fba5 submitted by /u/FXgram_ [link] [comments]

❗️Collecting some knowledge on trading, economics, and finance. Use a “Trading Academy” vibe. Say something if you’ve got something to say. Just follow the rules and keep it on topic.

The Ugly Truth About Trading Demo Trading – more harm than good? Free Cheese What games can teach financial literacy? Mortgage _ part 2 | Trading Academy Trading Academy | Stock Option_ part 2 Volatility | Trading Academy Futures | Trading Academy Trading Academy | Shakeout Trading Academy | Allocation Trading Academy | Liquidity Trading Academy | Fair Price Trading Academy | Market Price Trading Academy | Forward and Reverse Stock Split Trading Academy | What harm does insider trading cause to the economy? Trading Academy | EBITDA – Dirty Profit Trading Academy | The Political Scent – Dividends, Stock Market Trading Academy | Monetarism Trading Academy | Delisting Credit default swaps (CDS) Don’t hesitate to speak up if you’ve got something to say. Just follow the rules and keep it on topic. And don’t forget about our wiki submitted by /u/XGramatik [link] [comments]

📈📉🤓I often use the vozd after capturing liquidity through manipulation! The market is cyclical and it is not fashionable to always go in one direction! 👇

I often use the vozd after capturing liquidity through manipulation! The market is cyclical and it is not fashionable to always go in one direction! think about it, when you understand that the market needs fuel to move, you will understand that it collects liquidity, makes manipulations and goes in another direction to do the same! 📈📊📉🧐 #forex #crypto #EUR #XAU #GBP submitted by /u/Yuriy_UK [link] [comments]

📈📊📉🤓Does anyone trade using the smart money concept?

Does anyone trade using the smart money concept? I noticed that figures or patterns or even technical analysis can be worked out, it’s just that everyone has their own vision! but as for me, everything in totality has a place to be! (I’m not calling anyone to take action! This is purely my individual opinion!) #forex / #crypto submitted by /u/Yuriy_UK [link] [comments]

Tokenized treasuries are red-hot, but face struggles to dethrone stablecoins

Creating digital versions, or tokenizing real world assets on blockchains has been at the cutting edge of demonstrating crypto’s use case. And now tokenised treasuries are enjoying their moment in the spotlight as an alternative yield to stablecoins, but these emerging digital assets face significant hurdles toward wider adoption needed to dethrone stablecoins. Tokenized treasuries — the digital versions of Treasury bonds created on a blockchain such as Ethereum — have racked up a market cap of nearly $2.5 billion, up from around $800M since the turn of the year, according to data from tracker RWA.xyz. Tokenized treasuries: Riding the need for yield “This universe of tokenized treasuries has been growing fast over the past year approaching $2.4bn. And, although much smaller than the $180bn universe of traditional stablecoins, their fast growth has the potential to challenge stablecoin’s dominance in the future,” analysts at JPMorgan said in a recent note. The need for yield-bearing alternatives to major stablecoins such as Tether and USDC/USD, which typically don’t offer interest or share reserve yields, has been driving demand for tokenized treasuries. It makes good regulatory sense for stablecoins to avoid offering interest to its users as doing so would attract further regulatory restrictions, requiring compliance with securities law, JPMorgan said, “thus hindering their current seamless and permissionless use as source of collateral in the crypto ecosystem.” Stablecoin users, however, aren’t sitting idle willing to stomach the opportunity cost of holding yield-bearing assets. They have been employing various strategies to earn yield on their stablecoins. But these strategies such as secured lending, unsecured lending, basis trade “involve risk and ceding control and custody of their balances,” the analysts said. With U.S. Treasury yields still at multi-year highs, and now expected to remain higher for longer as U.S. economic exceptionalism continues, tokenized government debt appears to be scratching the ‘need for yield’ itch and could potentially continue to pry away dollars from stablecoins. Tokenized treasuries: New kids on crypto derivatives market block Tokenized treasuries offer several advantages over traditional stablecoins. They provide yield to users without the need for risky trading or lending strategies, not require users to cede control or custody of their assets. The market for tokenized treasuries has also been spurred by institutional investors launching tokenized funds, allowing investors access to on-chain offerings with 24/7 liquidity. Blackrock launched its first tokenized fund, BUIDL, earlier this year on the Ethereum blockchain, allowing investors to redeem their shares or BUIDL tokens for USDC stablecoin through a smart contract at any time, without the need for an intermediary. Some tokenized funds including Blackrock’s BUIDL, which has amassed a market cap of nearly $0.6 million since its launch in April, are also looking to steal stablecoins’ lunch in a key market: the crypto derivatives market. Stablecoins tend to be used as collateral in crypto derivatives trades, with Tether Holdings’s stablecoin USDT and Circle Internet Financial’s USDC among the most widely used tokens for derivatives collateral on exchanges, with market caps of $120B and $34B, respectively. But these strategies such as secured lending, unsecured lending, basis trade “involve risk and ceding control and custody of their balances,” the analysts said. With U.S. Treasury yields still at multi-year highs, and now expected to remain higher for longer as U.S. economic exceptionalism continues, tokenized government debt appears to be scratching the ‘need for yield’ itch and could potentially continue to pry away dollars from stablecoins. Tokenized treasuries: New kids on crypto derivatives market block Tokenized treasuries offer several advantages over traditional stablecoins. They provide yield to users without the need for risky trading or lending strategies, not require users to cede control or custody of their assets. The market for tokenized treasuries has also been spurred by institutional investors launching tokenized funds, allowing investors access to on-chain offerings with 24/7 liquidity. Blackrock launched its first tokenized fund, BUIDL, earlier this year on the Ethereum blockchain, allowing investors to redeem their shares or BUIDL tokens for USDC stablecoin through a smart contract at any time, without the need for an intermediary. Some tokenized funds including Blackrock’s BUIDL, which has amassed a market cap of nearly $0.6 million since its launch in April, are also looking to steal stablecoins’ lunch in a key market: the crypto derivatives market. Stablecoins tend to be used as collateral in crypto derivatives trades, with Tether Holdings’s stablecoin USDT and Circle Internet Financial’s USDC among the most widely used tokens for derivatives collateral on exchanges, with market caps of $120B and $34B, respectively. Regulatory hurdle to keep lid on tokenized treasuries adoption But this very advantage, the offering of yield, that tokenized treasuries are able to dangle in front of investors poses a major headwind in their quest to steal sizable portion stablecoins’ lunch. “Tokenized treasuries fall under securities law which restrict offerings to accredited investors, thus inhibiting broader market adoption,” the analysts said. BlackRock’s BUIDL, for example, has high entry barriers with a minimum investment of $5 million and restriction on offering these products to accredited investors. Blackrock’s big push to persuade cryptocurrency exchanges to more widely use its digital token shows there is potential to partly replace traditional stablecoins as collateral in crypto derivative trading, but the liquidity or the lack thereof (relative to that of stablecoins), suggest these new kids on the crypto derivatives market block aren’t likely to dominate any time soon. This regulatory hurdle suggests that stablecoins — boasting a market cap nearing $180B across multiple blockchains and centralized exchanges, ensuring traders receive low transaction costs even for large transactions — aren’t at risk of losing the significant advantage they hold over tokenized treasuries in terms of liquidity, JPMorgan said. This deep liquidity, which is key to seamless trading, implies that tokenized treasuries, with a market cap of around $2.4B, would “eventually replace only a fraction of the stablecoin universe,” JPMorgan said. While the bar to knock stablecoins off their perch is likely to remain high, tokenized Treasuries are expected to continue to grow by potentially replacing “non-yield-bearing stablecoins… Continue reading Tokenized treasuries are red-hot, but face struggles to dethrone stablecoins