Author: businessinvestopedia.com

Several stocks are heading towards what investors generally consider to be bullish price chart patterns that could play out well in September. Stocks have recovered from their August slump, with all three major indexes ending the month higher. By late Friday, the S&P 500 was up about 1.9% this month, the Dow Jones Industrial Average was up 1.5% and the Nasdaq Composite was up 0.2%. Friday’s gains in the S&P 500 and Nasdaq Composite came on the heels of a report on July’s personal consumption expenditures price, the Federal Reserve’s preferred inflation gauge, which met Wall Street expectations and bolstered…

This illustration, taken on Jan. 16, 2022, shows a vial labeled “Novavax V COVID-19 Vaccine.” Dado Ruvic | ReutersThe Food and Drug Administration NovavaxIt announced its latest protein-based Covid vaccine for emergency use in people aged 12 and over on Friday, paving the way for the vaccine to compete. Pfizer and ModernaThis fall/winter jab. Novavax’s vaccine targets the highly contagious Omicron subvariant JN.1, which began circulating widely in the U.S. earlier this year. As of this week, JN.1 accounts for just 0.2% of circulating cases nationwide, according to the latest data from the Centers for Disease Control and Prevention. Novavax…

Inflation rose slightly in July, according to the Federal Reserve’s preferred measure, as the central bank prepares to cut interest rates for the first time in more than four years.The Commerce Department said Friday that its personal consumption expenditures price index rose 0.2% from the previous month and 2.5% from a year earlier, exactly in line with the Dow Jones consensus estimate.Core PCE, which excludes volatile food and energy prices, also rose 0.2% for the month but was up 2.6% year-on-year. The 12-month figure was slightly lower than expectations for 2.7%.Fed officials tend to emphasize core inflation as a better…

A look at companies making waves in midday trading: Intel — The chipmaker’s shares rose 8.5% on news that the company is working with banks to explore options to address weaknesses in its core business. Elastic NV — Shares plummeted more than 27% after the company’s second-quarter revenue forecast fell short of Wall Street expectations. The artificial intelligence search company now expects revenue of between $353 million and $355 million for the quarter. Analysts surveyed by LSEG had expected $361 million. Mongo DB — The developer data platform’s shares jumped nearly 16% after the company reported second-quarter earnings and revenue…

Custody Bank, a bank specializing in digital assets, has laid off some employees amid a dispute with the Federal Reserve over its master account. Founder and CEO Caitlin Long said in an emailed statement to Banking Dive that the bank “”We will right-size the business to continue operating while preserving capital.” She said that until the end of Custody’s lawsuit against the Fed or “until Operation Chokepoint 2.0 is over,” referring to the Biden administration’s reported ongoing crackdown on digital assets, the name of an Obama-era effort to “kick” high-risk industries like payday lending, gambling and firearms out of banking.…

Good Brigade | Digitalvision | Getty ImagesMortgage rates are fallingMortgage rates have already begun to fall from recent highs, due in large part to the Federal Reserve’s outlook for a slowing economy. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage fell to 6.35% on August 29, down from 6.46% a week earlier, the lowest mortgage rate in 15 months.”Prospective homebuyers are likely to be able to get much more attractive interest rates today than they could have just a few months ago,” said Jacob Channell, senior economic analyst at LendingTree.Still, many homebuyers are clinging to the…

InterGlobe Aviation promoter Rakesh Gangwal and his family trust have sold a combined 5.83% stake for about Rs 10,500 crore, reducing their stake in the airline.A total stake of Rs 2.25 crore or 5.83% in InterGlobe Aviation was sold by Shobha Gangwal and Gangwal and Chinkarpu Family Trust, with JPMorgan Trust Company of Delaware as trustee. In two separate regulatory filings, Rakesh Gangwal sold 2.25 lakh shares in InterGlobe Aviation while Chinkarpu Family Trust disposed of over 2.02 lakh shares in the airline. Following the share sale, Gangwal’s stake in InterGlobe Aviation fell to 5.31% from 5.89%, while his stake…

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A woman takes a selfie with the Eiffel Tower in the background on Rue de Surcouf in Paris on July 23, 2024, ahead of the 2024 Paris Olympics. Mauro Pimentel | AFP | Getty ImagesEuro zone inflation fell to a three-year low of 2.2% in August, statistics agency Eurostat showed on Friday, raising hopes of an interest rate cut by the European Central Bank in September.The drop from 2.6 percent in July was in line with expectations of economists surveyed by Reuters.The core index, which excludes volatile items such as energy, food, alcohol and tobacco, fell to 2.8 percent in…

According to My Dolce Casa, the average price per square foot in Manhattan, New York is $1,500.Alexander Spatali | Moment | Getty ImagesManhattan, New York is notoriously expensive. The city is consistently ranked as one of the most expensive places to live in the world.It would cost about $750,000 to buy a 500-square-foot apartment in New York City, according to research blog My Dolce Casa. The study was based on real estate agent data showing the average price per square foot in New York City is $1,500.In effect, you could trade in your tiny studio apartment in the city for…