In Asia, investors will be watching for any spillover optimism in the region’s tech stocks, particularly in Japan.
CNBC Daily Open: A true bull market — it’s not Wall Street
S&P 500 closes above 5,600 for the first time. Archegos founder convicted of market manipulation. Tesla is a “meme stock.”
UK launches new rules for listings in bid to boost growth for London’s stock exchange
The U.K.’s Financial Conduct Authority has announced new rules for stock market listings in the country which aim to “boost growth and innovation.”
Number of millionaires to soar globally but plunge in the UK, research finds
The 2024 Global Wealth Report from UBS forecasts a continued increase in the number of millionaires, with the U.K. a notable outlier.
In Search of the Elusive Neutral Interest Rate
With Federal Reserve Chair Jerome Powell’s semiannual address to the Senate Banking Committee this week fresh in mind, it is an ideal time to consider the drivers of r*.
China’s ETF market sees ‘explosive’ growth, inflows jump 5-fold in three years, Morningstar says
Chinese exchange-traded funds saw a “staggering” growth in the last few years, with inflows consistently notching new highs, according to Morningstar.
Fed Chair Powell says holding rates high for too long could jeopardize economic growth
Setting the stage for a two-day appearance on Capitol Hill, the central bank leader said the economy remains strong as does the labor market.
China’s inflation numbers miss expectations, rising 0.2% in June
China’s consumer price inflation rose by 0.2% in June from a year ago, missing expectations, while producer prices fell in-line with forecasts.
Japan’s Nikkei nears all-time intraday high as other Asia markets slip; China inflation weaker than expected
China’s consumer price index is expected to climb 0.4% in June, compared with 0.3% in May.
CNBC Daily Open: Powell says high rates threaten growth
Powell says prolonged high rates could harm economic growth. The S&P 500 notches its 36th record close. Biden pledges Patriot missiles to Ukraine.