Rita Nazareth
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The Daily's Verdict
This author is known for its high journalistic standards. The author strives to maintain neutrality and transparency in its reporting, and avoids conflicts of interest. The author has a reputation for accuracy and rarely gets contradicted on major discrepancies in its reporting.
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Recent Articles
Tech Giants Alphabet and Tesla Send Stocks into Downturn: Disappointing Earnings Reports and Rising Interest Rates
Broke On: Tuesday, 23 July 2024On July 24, 2024, disappointing earnings reports from Alphabet and Tesla triggered a market selloff affecting major indices like the S&P 500, Dow Jones, and Nasdaq. Alphabet's higher-than-expected AI spending and missed YouTube advertising revenue estimates caused a near 4% drop in shares, while Tesla's missed profits and postponed autonomous taxi unveiling led to a 12% decline. This comes amidst scrutiny of the tech sector as investors consider the impact of rising interest rates on high-valuation stocks and ahead of earnings reports from other tech giants. 
French Parliamentary Elections: Macron's Centrists Gain Ground as Le Pen's National Rally Secures 33% of Votes
Broke On: Monday, 01 July 2024On July 1, 2024, French parliamentary elections eased investor concerns about a potential Marine Le Pen victory, leading to a 1.5% increase in the Cac 40 index and a stronger euro against the dollar. The RN party secured around 33% of the votes in the first round, while left-wing New Popular Front received approximately 28%, and Emmanuel Macron's centrist bloc had about 20%. Despite this, investors remain cautious as RN could still gain an overall majority in the second round. 
US Stock Market Dips Amid Decrease in Inflation: What Does It Mean for the Federal Reserve and Investors?
Broke On: Friday, 28 June 2024US stock market indices like the Dow, S&P 500 and Nasdaq 100 remained stable while treasury yields increased due to a slowdown in inflation. This has led some economists to speculate that the Federal Reserve may reconsider interest rate hikes, potentially boosting investor confidence. 
Significant Economic Reports Fuel Stock Market Fluctuations: Unemployment Claims Surge, Pending Home Sales Decline, and Micron Earnings Disappoint
Broke On: Thursday, 27 June 2024On June 27, the stock market saw volatility due to economic reports suggesting possible interest rate cuts from the Federal Reserve. Jobless claims reached a six-month high and factory orders declined unexpectedly. The Dow Jones Industrial Average, S&P 500, and Nasdaq composite fluctuated throughout the day with Micron Technology leading declines after reporting earnings. 
Triple Witching Day: $5.5 Trillion in Derivatives Expire, Causing Volatility on Wall Street
Broke On: Friday, 21 June 2024Wall Street saw a volatile trading day on June 21, 2024, during the quarterly 'triple witching' event when $5.5 trillion in derivatives contracts expired. The expiration led to increased caution among traders and significant volume, causing the S&P 500 to edge lower while some stocks like Apple outperformed and others like Nvidia and Resmed experienced decreases due to large contract values. Triple Witching Day: $5.5 Trillion in Derivatives Expire, Causing Volatility on Wall Street
Broke On: Friday, 21 June 2024Wall Street saw a volatile trading day on June 21, 2024, during the quarterly 'triple witching' event when $5.5 trillion in derivatives contracts expired. The expiration led to increased caution among traders and significant volume, causing the S&P 500 to edge lower while some stocks like Apple outperformed and others like Nvidia and Resmed experienced decreases due to large contract values. 
ECB Cuts Interest Rates for First Time in 5 Years as Inflation Cooling Signals End to Aggressive Monetary Policy
Broke On: Thursday, 06 June 2024The European Central Bank (ECB) lowered interest rates for the first time in nearly five years, reducing the benchmark deposit rate to 3.75% from 4%. This marks the highest rate in the bank's history and a response to improved inflation outlook. The move comes as inflation cools in the eurozone, with central banks in Switzerland and Sweden also cutting rates recently. Despite this, investors remain cautious about further rate cuts by the Federal Reserve due to persistently high inflation. 
Nvidia Surges Past Apple to Become Second Most Valuable US Company: Tech Stocks Rally Amidst Optimism for Interest Rate Cuts and Cooling Economy
Broke On: Wednesday, 05 June 2024On June 5, 2024, the S&P 500 and Nasdaq Composite reached new record highs, with tech stocks leading the charge. Nvidia surged over 5% to become the second most valuable US company with a market cap of $3 trillion. Microsoft also saw gains, while other sectors like chip-equipment and food service contributed to overall market growth. ASML, Dutch Bros, Wingstop, Constellation Energy, and Netflix all experienced significant gains. 
US Labor Market Slows Down: Fed Considering Rate Cuts Amid Lower-than-Expected Hiring
Broke On: Wednesday, 05 June 2024New data shows the US labor market is slowing down, with private payrolls increasing by 152,000 last month instead of the expected 175,000. This hiring slowdown has eased pressure on the Federal Reserve to maintain high interest rates and led to expectations of a first rate cut in November. Treasury yields have also edged lower as a result. 
Treasury Yields Rise Following Weak Demand for Five-Year Note Auction and Anticipation of Inflation Data
Broke On: Tuesday, 28 May 2024Treasury yields rose on Tuesday despite weak demand for a $70 billion five-year note auction and ahead of inflation data, with the 10-year yield climbing to 4.542% and the two-year yield dipping to 4.974%. Yields and prices move in opposite directions, with one basis point equaling 0.01%. The increase followed recent weak auction results and as investors awaited economic data and inflation levels, while closely monitoring Fed comments on future policy decisions.