Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.4 from a revised 101.3 in May, data released Tuesday showed. That compared with the median estimate of 100 in a Bloomberg survey of economists. 
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The expectations index, which measures consumers' views over the next six months, dropped almost two points to 73; the present conditions index rose from May's revised reading. 
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Consumer confidence has been quite depressed over the last couple of years, as consumers are facing a higher cost of living, high borrowing costs, and a recent softening in the labour market. Business conditions in the next six months are expected to improve according to only 12.5 per cent of consumers, the lowest proportion since 2011. 
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“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labour market views continued to outweigh concerns about the future,” Dana Peterson, chief economist at the Conference Board, said in a statement. “However, if material weaknesses in the labour market appear, confidence could weaken as the year progresses.” 
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Concern about prices moderated slightly this month, but consumers still feel that grocery prices are high. Inflation data for the month of May indicates there is a broad reduction in price increases across the board for US consumers. 
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Consumers also scaled back plans to buy motor vehicles and major appliances, often financed, as well. However, more indicated the intention to take vacations in the second half of the year, with a greater proportion planning domestic travel. 
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Consumer's view of the current labour market picked up slightly. About 38.1 per cent said jobs were "plentiful," up from 37 per cent in May, while few consumers said jobs were "hard to get." The gap between those numbers rose for the first time since the start of the year, a more important gauge of labour market health. 
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The mixed signals from the economy have left consumer confidence in a state of flux. While a subset of the elements constituting the economy is getting better, there are still enough concerns regarding future conditions and inflation. Further, into the year, improvements in the labour market and overall economic trends will be crucial for consumer outlook and confidence.

Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.

Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.4 from a revised 101.3 in May, data released Tuesday showed. That compared with the median estimate of 100 in a Bloomberg survey of economists. The expectations index, which measures consumers' views over the next six months, dropped almost two points to 73; the present conditions index rose from May's revised reading. Consumer confidence has been quite depressed over the last couple of years, as consumers are facing a higher cost of living, high borrowing costs, and a recent softening in the labour market. Business conditions in the next six months are expected to improve according to only 12.5 per cent of consumers, the lowest proportion since 2011. “Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labour market views continued to outweigh concerns about the future,” Dana Peterson, chief economist at the Conference Board, said in a statement. “However, if material weaknesses in the labour market appear, confidence could weaken as the year progresses.” Concern about prices moderated slightly this month, but consumers still feel that grocery prices are high. Inflation data for the month of May indicates there is a broad reduction in price increases across the board for US consumers. Consumers also scaled back plans to buy motor vehicles and major appliances, often financed, as well. However, more indicated the intention to take vacations in the second half of the year, with a greater proportion planning domestic travel. Consumer's view of the current labour market picked up slightly. About 38.1 per cent said jobs were "plentiful," up from 37 per cent in May, while few consumers said jobs were "hard to get." The gap between those numbers rose for the first time since the start of the year, a more important gauge of labour market health. The mixed signals from the economy have left consumer confidence in a state of flux. While a subset of the elements constituting the economy is getting better, there are still enough concerns regarding future conditions and inflation. Further, into the year, improvements in the labour market and overall economic trends will be crucial for consumer outlook and confidence.

US consumer confidence falls as outlook weakens on economy

Australia's&nbsp;inflation accelerated to a six-month high in May. This has got markets predicting another interest rate hike this year, as a key measure of core prices also rose for the fourth consecutive month.

This comes as the Australian dollar climbed 0.5 per cent while three-year bond futures tumbled to their lowest level in three weeks.

This also delays the possibility of monetary easing until late 2025. The monthly consumer price index rose at an annual pace of 4 per cent, well above market forecasts. UBS &amp; Deutsche Bank predict a rate hike in August, while the National Australia Bank delayed the call for first easing to May 2025.

Hike in August?

The Reserve Bank of Australia has warned of upside risks as inflation runs above the target bank of 2-3 per cent. It has held interest rates on hold at a 12-year high of 4.35 per cent. The central bank is waiting for the quarterly report due at the end of July.

Electricity prices have jumped by an annual rate of 6.5 per cent, up from 4.2 per cent in April. These prices are expected to ease from the third quarter as cost of living relief kicks in. Rent surged 7.4 per cent and insurance costs jumped 14 per cent.

Australia's inflation accelerated to a six-month high in May. This has got markets predicting another interest rate hike this year, as a key measure of core prices also rose for the fourth consecutive month.

Australia's inflation accelerated to a six-month high in May. This has got markets predicting another interest rate hike this year, as a key measure of core prices also rose for the fourth consecutive month. This comes as the Australian dollar climbed 0.5 per cent while three-year bond futures tumbled to their lowest level in three weeks. This also delays the possibility of monetary easing until late 2025. The monthly consumer price index rose at an annual pace of 4 per cent, well above market forecasts. UBS & Deutsche Bank predict a rate hike in August, while the National Australia Bank delayed the call for first easing to May 2025. Hike in August? The Reserve Bank of Australia has warned of upside risks as inflation runs above the target bank of 2-3 per cent. It has held interest rates on hold at a 12-year high of 4.35 per cent. The central bank is waiting for the quarterly report due at the end of July. Electricity prices have jumped by an annual rate of 6.5 per cent, up from 4.2 per cent in April. These prices are expected to ease from the third quarter as cost of living relief kicks in. Rent surged 7.4 per cent and insurance costs jumped 14 per cent.

Australia's inflation jumps to 6-month high in May

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts. The stock rose 3.1 per cent to $192.1.

Amazon joins the league of tech heavyweights such as Microsoft, Nvidia, Alphabet, and Apple.

Earlier, Nvidia's shares saw a 5 per cent increase following a three-day decline that reduced the company's market worth by $430 billion. They had lost about 13 per cent since their peak on July 18 as a result of the decline. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later.

The value of Nvidia's stock, which briefly surpassed Apple as the most valuable company in the world last week, has increased by 152 per cent so far this year and accounts for almost 30 per cent of the S&amp;P 500's return for the year. The index is up 14.6 per cent so far this year.

Big tech rally is reflective of the surging AI demand, that has investors locked in a buying spree. Still, some remain sceptical of a possible 'bubble' that could burst sooner or later.

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts.

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts. The stock rose 3.1 per cent to $192.1. Amazon joins the league of tech heavyweights such as Microsoft, Nvidia, Alphabet, and Apple. Earlier, Nvidia's shares saw a 5 per cent increase following a three-day decline that reduced the company's market worth by $430 billion. They had lost about 13 per cent since their peak on July 18 as a result of the decline. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later. The value of Nvidia's stock, which briefly surpassed Apple as the most valuable company in the world last week, has increased by 152 per cent so far this year and accounts for almost 30 per cent of the S&P 500's return for the year. The index is up 14.6 per cent so far this year. Big tech rally is reflective of the surging AI demand, that has investors locked in a buying spree. Still, some remain sceptical of a possible 'bubble' that could burst sooner or later.

Amazon hits $2 trillion in valuation

The Reserve Bank of Australia reiterated on Wednesday its commitment to running a restrictive monetary policy given the broader need to contain inflation. The RBA did not dismiss the possibility of further interest rate hikes in case need be, but acknowledged the financial strain that many households were going through.

In a speech on the banking industry in Melbourne, RBA Assistant Governor Christopher Kent highlighted that the present setting of interest rates at 4.35% is currently dampening the growth of demand and, as such, driving inflation lower. "We know that many are feeling a painful squeeze on their finances because of higher interest rates," said Kent. He emphasised that mortgage payment has already surged to a record 10% of household disposable income.

Kent also noted that current rates were far above all estimates of the neutral rate, which is the rate neither stimulating nor handicapping economic growth. The RBA has increased a record series of rates amounting to 425 basis points since May 2022, but has held steady for five straight meetings as the running inflation remained above its 2-3 per cent target band at 3.6%.

RBA Governor Michele Bullock said earlier this month that the restrictive policy had contributed to the bank's wariness about lifting rates higher at its June policy meeting. Financial markets are forecasting barely any chance of a rate cut before April next year, with just 43 basis points of easing expected by the end of 2025.

Kent reiterated that the central bank was standing back on any rate adjustments.

"While recent economic data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation," he reiterated.

"Hence, with regards to the path of interest rates, the Reserve Bank Board is not ruling anything in or out."

The chariness reflects the RBA's commitment to containing inflation, navigating the delicate balance between the growth of the economy and household financial stability. With world economic conditions highly uncertain in large part, the RBA is on high alert to keep the economy healthy from any possible shocks of upward inflationary pressures.

The Reserve Bank of Australia reiterated on Wednesday its commitment to running a restrictive monetary policy given the broader need to contain inflation. The RBA did not dismiss the possibility of further interest rate hikes in case need be, but acknowledged the financial strain that many households were going through.

The Reserve Bank of Australia reiterated on Wednesday its commitment to running a restrictive monetary policy given the broader need to contain inflation. The RBA did not dismiss the possibility of further interest rate hikes in case need be, but acknowledged the financial strain that many households were going through. In a speech on the banking industry in Melbourne, RBA Assistant Governor Christopher Kent highlighted that the present setting of interest rates at 4.35% is currently dampening the growth of demand and, as such, driving inflation lower. "We know that many are feeling a painful squeeze on their finances because of higher interest rates," said Kent. He emphasised that mortgage payment has already surged to a record 10% of household disposable income. Kent also noted that current rates were far above all estimates of the neutral rate, which is the rate neither stimulating nor handicapping economic growth. The RBA has increased a record series of rates amounting to 425 basis points since May 2022, but has held steady for five straight meetings as the running inflation remained above its 2-3 per cent target band at 3.6%. RBA Governor Michele Bullock said earlier this month that the restrictive policy had contributed to the bank's wariness about lifting rates higher at its June policy meeting. Financial markets are forecasting barely any chance of a rate cut before April next year, with just 43 basis points of easing expected by the end of 2025. Kent reiterated that the central bank was standing back on any rate adjustments. "While recent economic data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation," he reiterated. "Hence, with regards to the path of interest rates, the Reserve Bank Board is not ruling anything in or out." The chariness reflects the RBA's commitment to containing inflation, navigating the delicate balance between the growth of the economy and household financial stability. With world economic conditions highly uncertain in large part, the RBA is on high alert to keep the economy healthy from any possible shocks of upward inflationary pressures.

Australia's central bank keeps monetary policy restrictive over inflation concerns

The European football market showed an impressive recovery during the 2022-23 season, rising 16 per cent to hit a record high of 35.3 billion euros ($37.86 billion) in total revenue, as COVID-19 restrictions were unwound, allowing the return of a capacity crowd to the stadia, while the 2022 FIFA World Cup provided further impetus to fan interest, Deloitte said in its Annual Review of Football Finance published on Tuesday.&nbsp;

The growth was mainly due to the big five European leagues, which generated 19.6 billion euros in revenue, an increase of 14 per cent. This good form on the pitch translated to an aggregate operating profit of 500 million euros, significant against the backdrop that it represented the first time these five leagues had recorded a profit since the 2018-19 season and before the financial impact of the pandemic.&nbsp;

Tim Bridge, head of the Sports Business Group at Deloitte, noted that the impact of the 2022 FIFA World Cup, combined with the final removal of COVID-19 restrictions, was stark, and the passion of supporters engaging with football has driven considerable growth in the European football market in 2022/23.&nbsp;

Premier League clubs also shattered the six billion pounds barrier of revenue for the first time, driven by an 11 per cent growth, while on average, revenue surpassed 300 million pounds to underline the league's financial muscle.&nbsp;

One of the positive trends identified within the report was that the average wages/revenue ratio fell across all leagues, indicating that the increase in aggregate revenue outpaced the rise in wage costs. This financial prudence reflects a much-needed healthier economic environment for clubs.&nbsp;

Meanwhile, clubs in England's second-tier Championship increased their revenues by 10 per cent to 749 million pounds as they overshot wage costs of 706 million pounds for the first time since the 2016-17 campaign.&nbsp;

However, no Championship club generated an operating profit (before player trading), with the league registering operating losses of 316 million pounds.&nbsp;

The Championship clubs continue to be driven to significant financial outlays in pursuit of promotion to the Premier League. Promotion can lead to a financial windfall of at least 140 million pounds, increasing to more than 300 million pounds if they avoid relegation.&nbsp;

"The Football League may have seen an uptick in revenues in 2022-23, but clubs across the EFL are still battling to manage cash requirements," Bridge added.&nbsp;

"Many clubs are propped up by owner funding as they aspire to promotion, but exiting the league at the wrong end exposes a club to instability."&nbsp;

"This makes a strategy for long-term stability critical, underpinned by appropriate support provided by the governing bodies."&nbsp;

The lower leagues- League One and League Two also saw revenue increases during the 2022-23 campaign. A record aggregate of 19.8 million fans came through the doors of these leagues, which is the highest aggregate that has been recorded for the past 69 seasons.&nbsp;

The European football market showed an impressive recovery during the 2022-23 season, rising 16 per cent to hit a record high of 35.3 billion euros ($37.86 billion) in total revenue, as COVID-19 restrictions were unwound, allowing the return of a capacity crowd to the stadia, while the 2022 FIFA World Cup provided further impetus to fan interest, Deloitte said in its Annual Review of Football Finance published on Tuesday.

The European football market showed an impressive recovery during the 2022-23 season, rising 16 per cent to hit a record high of 35.3 billion euros ($37.86 billion) in total revenue, as COVID-19 restrictions were unwound, allowing the return of a capacity crowd to the stadia, while the 2022 FIFA World Cup provided further impetus to fan interest, Deloitte said in its Annual Review of Football Finance published on Tuesday. The growth was mainly due to the big five European leagues, which generated 19.6 billion euros in revenue, an increase of 14 per cent. This good form on the pitch translated to an aggregate operating profit of 500 million euros, significant against the backdrop that it represented the first time these five leagues had recorded a profit since the 2018-19 season and before the financial impact of the pandemic. Tim Bridge, head of the Sports Business Group at Deloitte, noted that the impact of the 2022 FIFA World Cup, combined with the final removal of COVID-19 restrictions, was stark, and the passion of supporters engaging with football has driven considerable growth in the European football market in 2022/23. Premier League clubs also shattered the six billion pounds barrier of revenue for the first time, driven by an 11 per cent growth, while on average, revenue surpassed 300 million pounds to underline the league's financial muscle. One of the positive trends identified within the report was that the average wages/revenue ratio fell across all leagues, indicating that the increase in aggregate revenue outpaced the rise in wage costs. This financial prudence reflects a much-needed healthier economic environment for clubs. Meanwhile, clubs in England's second-tier Championship increased their revenues by 10 per cent to 749 million pounds as they overshot wage costs of 706 million pounds for the first time since the 2016-17 campaign. However, no Championship club generated an operating profit (before player trading), with the league registering operating losses of 316 million pounds. The Championship clubs continue to be driven to significant financial outlays in pursuit of promotion to the Premier League. Promotion can lead to a financial windfall of at least 140 million pounds, increasing to more than 300 million pounds if they avoid relegation. "The Football League may have seen an uptick in revenues in 2022-23, but clubs across the EFL are still battling to manage cash requirements," Bridge added. "Many clubs are propped up by owner funding as they aspire to promotion, but exiting the league at the wrong end exposes a club to instability." "This makes a strategy for long-term stability critical, underpinned by appropriate support provided by the governing bodies." The lower leagues- League One and League Two also saw revenue increases during the 2022-23 campaign. A record aggregate of 19.8 million fans came through the doors of these leagues, which is the highest aggregate that has been recorded for the past 69 seasons.

European football gush to record revenues post-COVID, fueled by fan return and FIFA World Cup

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160. This might have given some temporary relief, but the currency has already dropped 5 per cent since May. The sluggish export numbers and rising imports are hurting the currency's value among investors. The trade deficit stands at $38 billion in the last fiscal year. &nbsp;

Japan is currently following the US Fed's 'hawkish stance' on keeping interest rates on hold, at least for now. The US is currently 'observing' the movements of key economic indicators. This strategy is possibly hurting the yen, which is now facing the test of a rising dollar and a growing deficit. The dollar index rose 0.3 per cent to 105.99, the highest since May.

The recently concluded Bank of Japan meeting hinted at a July rate hike. Now the anticipation of an early stimulus is growing as the country faces a potential currency crisis amid rising debt.

Japan's central bank made a historic pivot in April when it raised rates for the first time since 2007. The country abandoned its decade-long policy of keeping negative interest rates on its bond yields. The idea was initially to counter inflation and boost growth. However, the growing US-Japan bond yield deficit led to this shift. The returns on investing in Japanese government bonds are relatively lower than other currencies. This has led to a currency plunge of more than 13 per cent in 2024.

In 2023 alone, the currency has recorded three-decade lows against the US dollar. It is also one of the worst-performing currencies of 2024.

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160.

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160. This might have given some temporary relief, but the currency has already dropped 5 per cent since May. The sluggish export numbers and rising imports are hurting the currency's value among investors. The trade deficit stands at $38 billion in the last fiscal year. Japan is currently following the US Fed's 'hawkish stance' on keeping interest rates on hold, at least for now. The US is currently 'observing' the movements of key economic indicators. This strategy is possibly hurting the yen, which is now facing the test of a rising dollar and a growing deficit. The dollar index rose 0.3 per cent to 105.99, the highest since May. The recently concluded Bank of Japan meeting hinted at a July rate hike. Now the anticipation of an early stimulus is growing as the country faces a potential currency crisis amid rising debt. Japan's central bank made a historic pivot in April when it raised rates for the first time since 2007. The country abandoned its decade-long policy of keeping negative interest rates on its bond yields. The idea was initially to counter inflation and boost growth. However, the growing US-Japan bond yield deficit led to this shift. The returns on investing in Japanese government bonds are relatively lower than other currencies. This has led to a currency plunge of more than 13 per cent in 2024. In 2023 alone, the currency has recorded three-decade lows against the US dollar. It is also one of the worst-performing currencies of 2024.

Japanese yen hits lowest level since 1986

As Julian Assange, the controversial founder of WikiLeaks, walks out of US court after pleading guilty to espionage, we look at this extraordinary legal battle and Bitcoin's role in funding the mission.

WikiLeaks' problems began in 2010 when Assange was accused of leaking online documents. Facing financial constraints from traditional banks, the company turned to Bitcoin in the same year. At that time, Bitcoin was a fledgling digital currency priced at just 6 cents. Since then, Bitcoin has exponentially risen, jumping to a lifetime high of $73,000 recently.

Bitcoin boosted WikiLeaks with its decentralised and anonymous nature. Assange claimed a 50,000 per cent&nbsp;return on his early Bitcoin investments. While the overall impact of Bitcoin in managing WikiLeaks's defence is difficult to quantify, It undoubtedly played a major role in sustaining their operations.

Legal battles and prolonged imprisonment have caused major financial strain to the company. Assange's release journey cost is estimated at $520,000. Assange was freed after spending five years in a high-security UK prison.

Assange's advocacy for Bitcoin aligns with the Cypherpunk movement, emphasising privacy and decentralised control. All this has enabled WikiLeaks to operate globally and bypass traditional financial systems. A necessity for WikiLeaks soon became a movement, turning crypto into a 'revolution' against the established order.

Bitcoin prices have surged three-fold since last year alone, hitting an all-time high in March 2024. The current surge came after a deep bear market, widely called the 'crypto winter'. The surge is fuelled by regulatory approvals and central government's recognition. WikiLeaks capitalised on this momentum with new donation methods like BTC Pay &amp; Lightning network.

As Assange heads back to Australia, the decentralised nature of Bitcoin facilitated WikiLeaks to fight the prolonged legal battle.

As Julian Assange, the controversial founder of WikiLeaks, walks out of US court after pleading guilty to espionage, we look at this extraordinary legal battle and Bitcoin's role in funding the mission.

As Julian Assange, the controversial founder of WikiLeaks, walks out of US court after pleading guilty to espionage, we look at this extraordinary legal battle and Bitcoin's role in funding the mission. WikiLeaks' problems began in 2010 when Assange was accused of leaking online documents. Facing financial constraints from traditional banks, the company turned to Bitcoin in the same year. At that time, Bitcoin was a fledgling digital currency priced at just 6 cents. Since then, Bitcoin has exponentially risen, jumping to a lifetime high of $73,000 recently. Bitcoin boosted WikiLeaks with its decentralised and anonymous nature. Assange claimed a 50,000 per cent return on his early Bitcoin investments. While the overall impact of Bitcoin in managing WikiLeaks's defence is difficult to quantify, It undoubtedly played a major role in sustaining their operations. Legal battles and prolonged imprisonment have caused major financial strain to the company. Assange's release journey cost is estimated at $520,000. Assange was freed after spending five years in a high-security UK prison. Assange's advocacy for Bitcoin aligns with the Cypherpunk movement, emphasising privacy and decentralised control. All this has enabled WikiLeaks to operate globally and bypass traditional financial systems. A necessity for WikiLeaks soon became a movement, turning crypto into a 'revolution' against the established order. Bitcoin prices have surged three-fold since last year alone, hitting an all-time high in March 2024. The current surge came after a deep bear market, widely called the 'crypto winter'. The surge is fuelled by regulatory approvals and central government's recognition. WikiLeaks capitalised on this momentum with new donation methods like BTC Pay & Lightning network. As Assange heads back to Australia, the decentralised nature of Bitcoin facilitated WikiLeaks to fight the prolonged legal battle.

WikiLeaks' $244 million Bitcoin 'war chest'

Oil prices were stable after yesterday's decline following an industry report that US crude inventories increased slightly, ahead of the release of official data. Brent crude remained at more than $85 per barrel while West Texas Intermediate (WTI) was near $81 per barrel. A report by the American Petroleum Institute (API) showed crude stockpiles climbed about 900,000 barrels last week, and holdings in the Cushing storage hub fell. 
&nbsp; 
The Energy Information Administration will release its official weekly data on inventories, refining activity, and fuel demand later on Wednesday. This official data will give a better picture of the oil market. 
&nbsp; 
Oil is still assured of notching a monthly gain despite the current volatile trading. Several economists have grown positive about the outlook for the market in the next quarter, saying supply conditions are getting tighter. Geopolitical tensions, originating from Yemen and Russia, further may contribute to the risk of higher prices. 
&nbsp; 
Yeap Jun Rong, market strategist at IG Asia Pte in Singapore, commented on the market dynamics: "Tightening fundamentals through the third quarter of the year leave us supportive toward the market." He added that short-term caution will prevail before the release of inflation data later this week, which can further set directions on interest rates. 
&nbsp; 
The market structure has also shown tendencies of bullishness. Prompt time spreads for Brent and WTI have both widened, a backwardation pattern. This market structure, where near-term prices stand higher than future prices-is indicative of robust current demand relative to future supply. Moreover, money managers added positions on a host of products, including ICE gasoil, Europe's diesel benchmark. 
&nbsp; 
The oil market is again threading its way through a complex tapestry as traders digest the EIA's report and other major economic indicators. The relationship between rising stockpiles, refining activities on the rise, and geopolitical developments will define the fate of the market over the coming weeks.

Oil prices were stable after yesterday's decline following an industry report that US crude inventories increased slightly, ahead of the release of official data.

Oil prices were stable after yesterday's decline following an industry report that US crude inventories increased slightly, ahead of the release of official data. Brent crude remained at more than $85 per barrel while West Texas Intermediate (WTI) was near $81 per barrel. A report by the American Petroleum Institute (API) showed crude stockpiles climbed about 900,000 barrels last week, and holdings in the Cushing storage hub fell. The Energy Information Administration will release its official weekly data on inventories, refining activity, and fuel demand later on Wednesday. This official data will give a better picture of the oil market. Oil is still assured of notching a monthly gain despite the current volatile trading. Several economists have grown positive about the outlook for the market in the next quarter, saying supply conditions are getting tighter. Geopolitical tensions, originating from Yemen and Russia, further may contribute to the risk of higher prices. Yeap Jun Rong, market strategist at IG Asia Pte in Singapore, commented on the market dynamics: "Tightening fundamentals through the third quarter of the year leave us supportive toward the market." He added that short-term caution will prevail before the release of inflation data later this week, which can further set directions on interest rates. The market structure has also shown tendencies of bullishness. Prompt time spreads for Brent and WTI have both widened, a backwardation pattern. This market structure, where near-term prices stand higher than future prices-is indicative of robust current demand relative to future supply. Moreover, money managers added positions on a host of products, including ICE gasoil, Europe's diesel benchmark. The oil market is again threading its way through a complex tapestry as traders digest the EIA's report and other major economic indicators. The relationship between rising stockpiles, refining activities on the rise, and geopolitical developments will define the fate of the market over the coming weeks.

Oil prices steady as rising US stockpiles offset tightening market

The 'Big fat Indian wedding' is more than just a slang. A recent report by investment firm Jefferies highlights the economic significance of weddings in India. The $130 billion industry ranks second only to food and grocery and is a major driver of consumption across sectors.

The Indian wedding market is twice the size of the US market. It's estimated that the average expenditure on a wedding is around $15,000. Interestingly, Indian couples spend approximately twice as much on weddings compared to education. The current average expenditure per wedding is around $14,500, which is around five times India's per capita GDP of $2,900 and more than three times the average annual household income. The report added that India's wedding spending-to-GDP ratio is significantly higher than that of other countries.

The report notes that a typical Indian wedding involves five to six functions, hotel accommodations, catering, décor &amp; entertainment. This is more expensive for the rich, who spend more lavishly. The report excludes expenses on jewellery, wedding attire and airfares.

The report further notes that given the sheer size of the industry and its impact, weddings are a key growth driver in India for several categories, ranging from jewellery, apparel, catering, stay &amp; travel, among other sectors. This is reflected in the jewellery industry, where more than 10 per cent of revenues are from bridal jewellery. It also accounts for the largest proportion of the spend, accounting for 25 per cent of the total wedding expenses, followed by catering and events.

Small-scale businesses and individual service providers benefit from this wedding splurge. This is because the industry is highly diversified, with regional players in a better position to address consumer needs. The report also highlights challenges in India's wedding sector, notably being 'unorganised' and 'highly-fragmented.'&nbsp;

Prime Minister Narendra Modi gave the call 'Wed in India' last year, urging people to explore destinations within the country rather than foreign locations.&nbsp;

The 'Big fat Indian wedding' is more than just a slang. A recent report by investment firm Jefferies highlights the economic significance of weddings in India. The $130 billion industry ranks second only to food and grocery and is a major driver of consumption across sectors.

The 'Big fat Indian wedding' is more than just a slang. A recent report by investment firm Jefferies highlights the economic significance of weddings in India. The $130 billion industry ranks second only to food and grocery and is a major driver of consumption across sectors. The Indian wedding market is twice the size of the US market. It's estimated that the average expenditure on a wedding is around $15,000. Interestingly, Indian couples spend approximately twice as much on weddings compared to education. The current average expenditure per wedding is around $14,500, which is around five times India's per capita GDP of $2,900 and more than three times the average annual household income. The report added that India's wedding spending-to-GDP ratio is significantly higher than that of other countries. The report notes that a typical Indian wedding involves five to six functions, hotel accommodations, catering, décor & entertainment. This is more expensive for the rich, who spend more lavishly. The report excludes expenses on jewellery, wedding attire and airfares. The report further notes that given the sheer size of the industry and its impact, weddings are a key growth driver in India for several categories, ranging from jewellery, apparel, catering, stay & travel, among other sectors. This is reflected in the jewellery industry, where more than 10 per cent of revenues are from bridal jewellery. It also accounts for the largest proportion of the spend, accounting for 25 per cent of the total wedding expenses, followed by catering and events. Small-scale businesses and individual service providers benefit from this wedding splurge. This is because the industry is highly diversified, with regional players in a better position to address consumer needs. The report also highlights challenges in India's wedding sector, notably being 'unorganised' and 'highly-fragmented.' Prime Minister Narendra Modi gave the call 'Wed in India' last year, urging people to explore destinations within the country rather than foreign locations.

'The Big Fat Indian 'Paychecks': Wedding industry drives consumption & economic boom

Shares of Nvidia jumped 5 per cent on Tuesday after a 3-day slump that wiped off $430 billion from its market valuation. The tumble saw them lose around 13 per cent since the July 18 high. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations&nbsp;about a potential 'bubble' that could burst sooner or later.

Nvidia's shares, which last week momentarily overtook Apple as the most valuable business in the world, are up 152 per cent this year and made up about 30 per cent of the S&amp;P 500's year-to-date return. This year, the index is up 14.6 per cent.

Though the recent decline in the share price of the company seems to have made traders more cautious, there was clear bullishness surrounding Nvidia in the options market.

Surging demand for AI technology has significantly benefited Nvidia. The company holds an almost 80 per cent share of the AI chip market, particularly in data centres. Their H100 accelerators facilitate complex AI computations, resulting in a revenue increase exceeding 125 per cent year-over-year. This trend continued last quarter, with Nvidia's data centre business experiencing a 427 per cent growth, generating $22.6 billion.

Analysts like Daniel Ives of Wedbush Securities estimate that Nvidia, Apple, and Microsoft are in a fierce competition to be the first companies in the technology sector to reach a $4 trillion market cap. With AI skills, each is delving deeply into its competitive advantages in an effort to win over investors.&nbsp;

Shares of Nvidia jumped 5 per cent on Tuesday after a 3-day slump that wiped off $430 billion from its market valuation. The tumble saw them lose around 13 per cent since the July 18 high.

Shares of Nvidia jumped 5 per cent on Tuesday after a 3-day slump that wiped off $430 billion from its market valuation. The tumble saw them lose around 13 per cent since the July 18 high. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later. Nvidia's shares, which last week momentarily overtook Apple as the most valuable business in the world, are up 152 per cent this year and made up about 30 per cent of the S&P 500's year-to-date return. This year, the index is up 14.6 per cent. Though the recent decline in the share price of the company seems to have made traders more cautious, there was clear bullishness surrounding Nvidia in the options market. Surging demand for AI technology has significantly benefited Nvidia. The company holds an almost 80 per cent share of the AI chip market, particularly in data centres. Their H100 accelerators facilitate complex AI computations, resulting in a revenue increase exceeding 125 per cent year-over-year. This trend continued last quarter, with Nvidia's data centre business experiencing a 427 per cent growth, generating $22.6 billion. Analysts like Daniel Ives of Wedbush Securities estimate that Nvidia, Apple, and Microsoft are in a fierce competition to be the first companies in the technology sector to reach a $4 trillion market cap. With AI skills, each is delving deeply into its competitive advantages in an effort to win over investors.

Nvidia shares rebound after $430 billion market slump

United Nations Secretary-General Antonio Guterres lashed out at businesses for ‘profiting from hate.’ Guterres demanded that big consumer technology firms take responsibility and acknowledge the damage inflicted on people and communities.

Speaking at a news conference to launch a set of UN global principles for information integrity, Guterres called this a starting point to combat misinformation, disinformation and hate speech.

While not taking aim at specific companies, he said, ‘Some stakeholders carry an outsized responsibility. For them, I have a clear message: We demand action. First, to the big tech companies, take responsibility. Acknowledge the damage your products are inflicting on people and communities, and you have the power to mitigate harm to people and societies around the world. You have the power to change business models that profit from disinformation and hate. Second, to advertisers and the PR industry: Stop monetizing harmful content. Strengthen information integrity, protect your brand, boost your bottom line. The climate crisis is a cause of particular concern. Coordinated disinformation campaigns are seeking to undermine climate action. Creatives - don’t use your talents to greenwash. PR agencies – look for clients who aren’t misleading people and destroying our planet.’

Guterres also urged media outlets to enforce strict editorial standards while saying governments should commit to a free, viable, independent, and plural media landscape.

He said, ‘Find advertisers who are part of the solution, not the problem. And finally, I say to governments: Commit to creating and maintaining a free, viable, independent, and plural media landscape. Guarantee strong protections for journalists. Ensure regulations uphold human rights. Refrain from drastic measures, including blanket internet shutdowns. Respect the right to freedom of opinion and expression. Let me be very clear: Everyone should be able to express themselves freely without fear of attack.’

United Nations Secretary-General Antonio Guterres lashed out at businesses for ‘profiting from hate.’ Guterres demanded that big consumer technology firms take responsibility and acknowledge the damage inflicted on people and communities.

United Nations Secretary-General Antonio Guterres lashed out at businesses for ‘profiting from hate.’ Guterres demanded that big consumer technology firms take responsibility and acknowledge the damage inflicted on people and communities. Speaking at a news conference to launch a set of UN global principles for information integrity, Guterres called this a starting point to combat misinformation, disinformation and hate speech. While not taking aim at specific companies, he said, ‘Some stakeholders carry an outsized responsibility. For them, I have a clear message: We demand action. First, to the big tech companies, take responsibility. Acknowledge the damage your products are inflicting on people and communities, and you have the power to mitigate harm to people and societies around the world. You have the power to change business models that profit from disinformation and hate. Second, to advertisers and the PR industry: Stop monetizing harmful content. Strengthen information integrity, protect your brand, boost your bottom line. The climate crisis is a cause of particular concern. Coordinated disinformation campaigns are seeking to undermine climate action. Creatives - don’t use your talents to greenwash. PR agencies – look for clients who aren’t misleading people and destroying our planet.’ Guterres also urged media outlets to enforce strict editorial standards while saying governments should commit to a free, viable, independent, and plural media landscape. He said, ‘Find advertisers who are part of the solution, not the problem. And finally, I say to governments: Commit to creating and maintaining a free, viable, independent, and plural media landscape. Guarantee strong protections for journalists. Ensure regulations uphold human rights. Refrain from drastic measures, including blanket internet shutdowns. Respect the right to freedom of opinion and expression. Let me be very clear: Everyone should be able to express themselves freely without fear of attack.’

UN chief demands big tech accountability to fight hate speech

Owners of the famous Trianon building in Frankfurt have filed for insolvency. This comes as the biggest economy in Europe reels with a severe property crisis.

Germany’s property sector contributes a fifth of the country's total output but has faced the test of high borrowing costs and dried real estate financing since mid-2022. Major developers have gone bankrupt in recent times, echoing the need for government intervention.

In 2023, around 294,400 apartments were built, far below the government’s target. The authorities approved 260,00 constructions, the lowest since 2012. In the first quarter of 2024, prices declined 5.7 per cent year-on-year. This marks the sixth consecutive quarter of decline in both cities &amp; rural regions. The housing construction backlog, apartments that have been approved but not yet built, has fallen for the first time since 2008.

Investors looking to diversify?

Investors are now sceptical about betting on major economies like Europe, China, and the US. This is because the demand for housing remains subdued due to rising costs. Especially for Europe, the abrupt end to cheap energy from Russia has hit German property demand. Europe is currently locked in a trade battle with China to ‘protect’ its domestic market from the influx of Chinese goods. However, the domestic market, especially in Germany, has been vocal about the potential harm lurking if such a tariff battle moves ahead. One of the reasons for this resistance is possibly a fragile situation at home. If consumption drives the economy, then your markets are pre-determined, and China is the largest consumer and producer in the world. Not only that, but it is also the biggest raw material market for EVs and other essential minerals. Isolation from China can further dent Europe’s growth prospects.

As for their reeling housing market, one can try China’s stimulus measures, though that also doesn’t seem enough, according to some analysts. China’s recent home prices &amp; sales continue to decline, showing no respite despite the government's intervention. Still, lowering borrowing costs can be a start. European Central Bank recently took a diversion from the US Fed's 'wait-and-watch' approach by lowering interest rates for the first time since 2019. Another possible solution is around immigration. While immigration is a hot topic in the UK before elections on 4th July, Other countries are equally feeling the pump. Controlling the illegal immigrants is paramount for controlling supply and, thus, controlling demand.&nbsp;

Owners of the famous Trianon building in Frankfurt have filed for insolvency. This comes as the biggest economy in Europe reels with a severe property crisis. Germany’s property sector contributes a fifth of the country's total output but has faced the test of high borrowing costs and dried real estate financing since mid-2022.

Owners of the famous Trianon building in Frankfurt have filed for insolvency. This comes as the biggest economy in Europe reels with a severe property crisis. Germany’s property sector contributes a fifth of the country's total output but has faced the test of high borrowing costs and dried real estate financing since mid-2022. Major developers have gone bankrupt in recent times, echoing the need for government intervention. In 2023, around 294,400 apartments were built, far below the government’s target. The authorities approved 260,00 constructions, the lowest since 2012. In the first quarter of 2024, prices declined 5.7 per cent year-on-year. This marks the sixth consecutive quarter of decline in both cities & rural regions. The housing construction backlog, apartments that have been approved but not yet built, has fallen for the first time since 2008. Investors looking to diversify? Investors are now sceptical about betting on major economies like Europe, China, and the US. This is because the demand for housing remains subdued due to rising costs. Especially for Europe, the abrupt end to cheap energy from Russia has hit German property demand. Europe is currently locked in a trade battle with China to ‘protect’ its domestic market from the influx of Chinese goods. However, the domestic market, especially in Germany, has been vocal about the potential harm lurking if such a tariff battle moves ahead. One of the reasons for this resistance is possibly a fragile situation at home. If consumption drives the economy, then your markets are pre-determined, and China is the largest consumer and producer in the world. Not only that, but it is also the biggest raw material market for EVs and other essential minerals. Isolation from China can further dent Europe’s growth prospects. As for their reeling housing market, one can try China’s stimulus measures, though that also doesn’t seem enough, according to some analysts. China’s recent home prices & sales continue to decline, showing no respite despite the government's intervention. Still, lowering borrowing costs can be a start. European Central Bank recently took a diversion from the US Fed's 'wait-and-watch' approach by lowering interest rates for the first time since 2019. Another possible solution is around immigration. While immigration is a hot topic in the UK before elections on 4th July, Other countries are equally feeling the pump. Controlling the illegal immigrants is paramount for controlling supply and, thus, controlling demand.

Germany’s property crisis worsens: Frankfurt skyscraper owner files for insolvency

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Zee News Rajasthan

Editor

Hardik Bhardwaj

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