US bank stocks slump on Fitch downgrade warning, 10-year US yield turns south

[ad_1] Share: Fitch Ratings analyst told CNBC on Tuesday that the agency could downgrade several big lenders, including JPMorgan, as reported by Reuters.  The financial-heavy Dow Jones Industrial Average opened in negative territory following this headline and was last seen losing 0.6% on a daily basis. Reflecting the poor performance of bank stocks,

Rate expectations remain elevated among consumers – Wells Fargo

[ad_1] Share: The University of Michigan’s Consumer Confidence data for August offered little change. Analysts at Wells Fargo point out that consumers anticipate prices to decline overall, despite their expectations of rising interest rates. Key quotes:  “Consumers are becoming more convinced that inflation is cooling. Whether or not they fully understand the Federal

United States CFTC Gold NC Net Positions declined to $143K from previous $164.9K

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Brent Oil to hit $90 at the end of the quarter – Commerzbank

[ad_1] Share: The Oil price has been rising significantly since the end of June. Economists at Commerzbank have revised their forecast for Brent Oil. Brent Oil seen at $85 by year-end We have raised our price forecast for Brent at the end of the quarter to $90 per barrel (previously $80).  At the

US CPI inflation to shape Federal Reserve expectations

[ad_1] Share: Consumer Price Index in the US is forecast to rise 3.3% YoY in July, up from the 3% increase recorded in June. Core CPI inflation is expected to hold steady at 4.8% YoY in July. US CPI inflation report could significantly impact the US Dollar’s valuation by altering the Fed’s rate