5 Things to Know Before the Stock Market Opens
5 Key Market Updates: PepsiCo Misses, Nvidia Climbs, Amazon’s Big Deals Start PepsiCo (PEP) cuts full-year guidance after missing third-quarter earnings estimates, Honeywell (HON) plans to spin off its Advanced Materials division, and a judge rules that Google must offer Play Store alternatives. Meanwhile, Nvidia (NVDA) overtakes Microsoft (MSFT) as the second-largest company by market […]
PepsiCo Cuts Sales Outlook After Weak Q3 Results
PepsiCo Posts Weaker-Than-Expected Q3 Results, Cuts FY Sales Outlook Again PepsiCo reports a decline in third-quarter revenue and profit, citing the impact of inflation on consumer spending. The company reduced its full-year sales outlook for the second consecutive quarter, expecting only a low-single-digit sales increase, down from a previous estimate of 4% growth. Inflation continues […]
Missouri Court Blocks Biden’s Student Loan Forgiveness Again
Missouri Court Blocks Biden’s Student Loan Forgiveness Again A Missouri federal court blocks President Biden’s student loan forgiveness program. The ruling came from a Trump-appointed judge, stalling debt relief for millions of borrowers. Student loan forgiveness is a critical issue in the 2024 election, with Kamala Harris supporting it and Donald Trump opposing it. Another […]
EU Imposes Tariffs on Chinese EVs, Risks Beijing Retaliation
EU Approves Tariffs on Chinese EVs, Risks Beijing Retaliation EU votes to impose additional tariffs on Chinese-made electric vehicles (EVs), risking retaliation from Beijing. Tariffs could rise to 45% including the existing 10% on imported vehicles. European Commission will release the final plan by the end of October while seeking alternative solutions with China. The […]
Fed Rate Cuts Could Slash Millions in Stablecoin Issuer Income
How the Fed’s Rate Cuts Could Slash Millions in Stablecoin Issuer Income Federal Reserve rate cuts may reduce stablecoin issuer income by $625 million per 50 bps cut. Stablecoin providers heavily rely on U.S. Treasurys to earn returns on their reserves. Lower interest rates could push issuers toward riskier assets for higher returns. The Federal […]
Key Bitcoin Price Levels as Cryptocurrency Slips After Strong Rally
Bitcoin Price Levels to Watch as Cryptocurrency Retreats After a Strong Month Bitcoin (BTC) slips Monday after a strong September, but key price levels suggest potential gains. Watch for resistance at $68,500, $72,000, and $97,000, while keeping an eye on $60,600 as support. Bitcoin recently reclaimed its 200-day moving average, signaling possible bullish momentum. Bitcoin […]
Bitwise Files for First Spot XRP ETF Amid SEC Appeal Concerns
Bitwise Files for First Spot XRP Exchange-Traded Fund (ETF) Bitwise files with the SEC for the first-ever spot XRP ETF. Approval of the ETF may depend on the outcome of the SEC’s appeal on the XRP security classification. Ripple Labs’ XRP could face further legal scrutiny if deemed a security, impacting the ETF. On Wednesday, […]