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In Today’s News
“An apology to my crypto critics” [adv]
US weekly jobless claims steady at higher levels
Initial claims for state unemployment benefits held steady at a seasonally adjusted 248,000 for the week ended June 7, the Labor Department said on Thursday. Economists polled by Reuters had forecast 240,000 claims for the latest week. Claims could remain elevated, with the school year ending this month as so …. Read More >>
JP Morgan maintains 2025 forecast for oil prices in low-to-mid $60s
U.S. President Donald Trump said on Wednesday the United States was moving personnel out of the Middle East because it “could be a dangerous place”. He also said the U.S. would not allow Iran to have a nuclear weapon. Iran has said its nuclear activity is peaceful.Increased tension with Iran has raised the pr …. Read More >>
FEATURED ARTICLE
Oracle shares soar as AI cloud demand propels revenue forecast
The stock has risen nearly 6% so far this year as confidence in the software sector remained strong despite geopolitical tensions, even as analysts warn that U.S. President Donald Trump’s tariffs could undermine Big Tech’s AI investments.Earlier this year, Oracle, whose cloud offerings help companies build th …. Read More >>
OTHER HEADLINES
Bulls load up on Asian currencies as trade uncertainty knocks dollar: Reuters poll
(Reuters) -Bullish bets firmed up on most Asian currencies as the lack of clarity on a U.S.-China trade agreement kept the dollar on the back foot, a Reuters poll showed on Thursday.Long positions in the Taiwan dollar touched their highest since December 2020, while bullish bets on the South Korean won were t …. Read More >>
BlackRock aims to grow revenue to $35 billion and more by 2030
NEW YORK (Reuters) -BlackRock said on Thursday it was aiming to grow its revenue to $35 billion and more by 2030, as the asset management giant expands its foothold in private markets.The New York-based firm, which reported revenue of $20 billion for 2024, will hold an investor day on Thursday that is expecte …. Read More >>
Scary New Prediction: Your Money Seized?! [sponsor]
During and after the Great Financial Crisis of 2008, 485 U.S. banks went under. Weiss Ratings warned about 484 — an accuracy rate of 99.8% Now, Dr. Martin Weiss has a new warning. But this time, it’s not just about a few hundred banks. It’s about nearly every single bank in America, whether large or small. A veritable banking nightmare! See what it is here.
Chime prices IPO at $27 per share to raise $864 million
(Reuters) -Financial technology company Chime said on Wednesday it raised $864 million in its initial public offering after pricing shares at $27 each. The company had marketed the offering between $24 and $26 per share. The IPO values Chime at roughly $11.6 billion on a fully diluted basis.Chime’s IPO marks …. Read More >>
Top Wall Street bank pitches options play to ride potential Indian rupee rally to 83
MUMBAI (Reuters) -Goldman Sachs’ sales and trading desk is recommending an options play on the Indian rupee that will pay off if the South Asian currency rallies to 83 per U.S. dollar over the next nine months. The call — effectively a bet on a 3% appreciation in the rupee from its current level of 85.50 …. Read More >>
US tariffs may have ended BOJ’s rate-hike cycle, former policymaker says
TOKYO (Reuters) -U.S. President Donald Trump’s tariffs may have put an end to the Bank of Japan’s rate-hike cycle, with the chance of further interest rate increases fading fast due to the expected hit to exports, former BOJ policymaker Takako Masai said on Thursday.Uncertainty over U.S. trade policy is causi …. Read More >>
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