Yahoo News: “Nasdaq drops 1% as Fed warns rate cuts aren’t coming soon”

Stocks reversed lower on Thursday as another blowout quarterly earnings report from Nvidia (NVDA) couldn’t overcome new comments from the Federal Reserve suggesting interest rates will need to remain elevated for a long period of time to bring inflation down. The Nasdaq Composite (^IXIC) closed Thursday’s trading session down nearly 1.9% while the S&P 500 …

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CVS stock falls after Blue Shield of California drops pharmacy as benefit manager

Shares of CVS Health (CVS) are falling after the Blue Shield of California dropped the pharmacy as its benefit manager for drug prices and other services. The Blue Shield of California is reportedly pursuing partnerships with Amazon Pharmacy (AMZN) and billionaire Mark Cuban’s Cost Plus Drugs. Yahoo Finance’s Julie Hyman and Brad Smith monitor CVS’ …

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Housing market affordability index drops 10% below 2006 lows, making it the least affordable in US history.

This week, mortgage rates in the US hit their highest since 2001. We are well above the 2008 highs and rising. After the Fed minutes were released today, rate expectations increased. Bumpy road for homebuyers. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) August 16, 2023 Mortgage rates …

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German industrial output drops 1.5% in June due to weak manufacturing and construction, causing a 6th-low output

GERMAN INDUSTRIAL PRODUCTION YOY SA ACTUAL -1.7% (FORECAST -0.2%, PREVIOUS 0.82%) $MACRO — FinancialJuice (@financialjuice) August 7, 2023 OUCH! German industrial woes endure as output drops to 6mth low. Industrial output plunged 1.5% in June MoM on the back of weak manufacturing & even weaker construction. In Q2, output almost completely gave back the gains …

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Apple’s market valuation plunges $140 BILLION in a day and drops back below the $3T mark after company warned of slowdown in iPhone sales

Apple has lost its title as the world’s only company with a market valuation of $3 trillion, after the company warned it was headed for a fourth straight quarter of declining sales. Shares of Apple closed down 4.8 percent at $181.99, wiping more than $140 billion off the company’s market capitalization, in the stock’s biggest …

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UBS drops Credit Suisse’s Russian clients

This is because the risks are too high for Swiss bank UBS, which recently took over its rival in a government-brokered merger. It is not clear exactly which Russians are affected, the paper wroteExternal link. However, they are said to be primarily Russian offshore clients: clients with a Russian passport who live abroad and who …

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Justice Department Drops Campaign Finance Charge Against Democratic Donor Sam Bankman-Fried

by Chris Black You are invited to believe in “the rule of law.” New York Times: Federal prosecutors pursuing the criminal case against cryptocurrency mogul Sam Bankman-Fried said on Wednesday that they were dropping a charge that Mr. Bankman-Fried violated campaign finance rules. A spokesman for Mr. Bankman-Fried declined to comment. A spokesman for the U.S. attorney’s …

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Kansas Fed Manufacturing Index drops to -20 in July, indicating sharp contraction

Kansas Fed Manufacturing Index plummets to -20 in July, signaling sharp contraction in the regions mfg activity. pic.twitter.com/98y7PpgAn1 — Don Johnson (@DonMiami3) July 27, 2023 Kansas Fed Composite Index edges up to -11 in July from -12 in June, but don't be deceived by modest gains. The economy remains entrenched in weakness. Beneath the surface, …

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LeBron James 18 year old son drops from a heart attack

Bronny James, son of NBA All-Star LeBron James, had a cardiac arrest on Monday while practicing at USC before he starts his freshman season with the Trojans, a family spokesperson told Scripps News. The 18-year-old was considered one of the top high school prospects to enter the college ranks this year. “Yesterday while practicing Bronny …

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Threads Is Already Losing Its Allure for Users, Adding Urgency for New Features – ‘Threads’ Implosion Worsens As User Engagement Drops 70%

User engagement on Threads has continued to fall after an initial surge in sign-ups, putting pressure on parent Meta Platforms META -2.83%decrease; red down pointing triangle to roll out new features for its nascent microblogging app. https://www.wsj.com/articles/threads-user-engagement-continues-to-drop-adding-urgency-for-new-features-8ed2f384 https://archive.ph/8cO4F

DXY drops to 52-week lows, reaching April 2022 levels.

DXY has broken down to new 52-week lows Reaching levels seen in April 2022 pic.twitter.com/HYpmPEae0s — Bravos Research (@bravosresearch) July 13, 2023 The US Dollar Index, $DXY, is now trading below 100.00 for the first time in 15 months. Markets may finally be buying the narrative that inflation is falling. pic.twitter.com/M26eiQ4JDl — The Kobeissi Letter …

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Mayra Flores drops new video…

I am excited to announce that I am officially running for Congress in #TX34 We made history last year, but there’s still work to be done here in South Texas. I’m running to help restore the American Dream, secure our borders, and stand strong on our values of God, Family and… pic.twitter.com/OgMKepIB8b — Mayra Flores …

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US Mortgage Purchase Demand Drops -19% From Previous Week As Mortgage Rates Top 7% (Down -53% Under Bidenomics, Rates Up 138%) Strongly Recommend “Sound Of Freedom”

by confoundedinterest17 As Bidenomics (why Biden would brag about massive inflation in energy, food and shelter is beyond me), lurches forward, we have another shred of lousy economic news: US mortgage purchase demand fell -19% from the previous week and is how down -53% under Bidenomics). Mortgage applications increased 0.9 percent from one week earlier, …

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Bidenomics?? US Gross Domestic Income Drops -1.8% QoQ For Q1 2023, REAL GDI At -0.8% QoQ (US Added 12.53M Jobs After April 2020 (Trump) While Bidenomics Took 2 1/2 years To Add 12.56M Jobs)

by confoundedinterest17 Bidenomics is a great marketing ploy where you have out of control Federal spending and magically decide to reopen the economy and school after Covid and focus only on jobs added after Biden was selected President and ignore the jobs added during Trump. Real gross domestic income (GDI) is a measure of the incomes …

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O’Keefe Drops Biggest Story Yet: BlackRock Recruiter Spills Info on Company’s World Impact – “You Got $10K? You Can Buy a Senator… ‘War Is Good for Business’

BREAKING: @BlackRock Recruiter Who “Decides People’s Fate” Spills Info on Company’s World Impact “It’s not who the president is- it’s who’s controlling the wallet of the president” “You got $10K? You can buy a senator" “War is real f***ing good for business” #BlackRockExposed pic.twitter.com/DZIy1DuZKF — James O'Keefe (@JamesOKeefeIII) June 20, 2023 James O’Keefe and O’Keefe …

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