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The profit of the US banking sector fell to US$70.4 billion in the second quarter, down 8.3% month-on-month
The US Federal Deposit Insurance Corporation (FDIC) reported on Wednesday that US banking profits fell 8.3% in the second quarter to US$70.4 billion as companies slowed the pace of reducing credit loss reserves. Although profits are still significantly higher than a year ago — up 281% from the second quarter of 2020 — banks have slowed the rate of shrinking the huge buffer established during the peak of the COVID-19 pandemic. The banking sector recorded a profit of $76.8 billion in the first quarter. The report said that in the second quarter, banks raised their credit loss reserves by 3.7 billion US dollars, but still fell sharply by 73 billion US dollars from the same period last year, or 117.3
The S & P 500 index has risen 100% since the low point of the COVID-19 outbreak.
The S & P 500 has risen 100 per cent since the low of the COVID-19 outbreak. The market is assessing risk factors such as the development of the international geopolitical situation, the epidemic in the United States and for global economic growth. The strong earnings report relieved the market pressure to some extent. Experts believe that a strong rebound in corporate profits has and may continue to push the market forward, helping to offset concerns about a slowdown in economic growth. Investors will pay close attention to Federal Reserve Chairman Colin Powell's speech and minutes of the Fed meeting this week for more clues about a possible reduction in bond purchases. August is halfway through, and it looks like this month is going to be
The climate import tax to be implemented by the European Union makes trading partners unhappy
The EU's initiative to implement the carbon Boundary Adjustment Mechanism (CBAM) is bold, but it is not surprising given the growing gap in attitudes to tackling climate problems in different parts of the world. The EU's carbon price for imported goods and services is essentially a transmission of its determination to address the climate problem to its trading partners. This ensures that the competitiveness of local producers will not be undermined by the fact that imported goods are not subject to the same level of environmental review or cost. Not surprisingly, the EU's trading partners are resistant to the border adjustment mechanism. Threats of a trade war and international disputes abound in the press, but the EU's position is that
The impact of US Treasury yields on emerging market currencies is bound to increase
If US bond yields rise again, a slowdown in the economic recovery as a result of the rebound in the epidemic will put emerging market currencies at risk of selling. Companies such as Fidelity International and Oriental Huili Bank believe that while the impact of US borrowing costs on currencies in developing countries has weakened in recent months, as China's economic growth has rebounded and the cushioning effect of low inflation has declined, then its impact on high-risk currencies is once again significant. "for emerging market currencies, a very large and rapid rise in US front-end real yields would be a very bad outcome," said Paul Gr, a fund manager at Fidelity in London.
Late trading: us stocks continued to slide, the Nasdaq fell 150 points.
In the early morning of the 16th Beijing time, U. S. stocks continued to decline late Thursday. Morgan Stanley and others beat expectations. The United States applied for unemployment benefits at the beginning of last week to record a new low during the epidemic. For the second day in a row, Federal Reserve Chairman Colin Powell defended the position of maintaining loose policy. A senior Fed official urged the central bank to reduce the size of its national debt. The Dow fell 29.24 points, or 0.08%, to 34903.99; the Nasdaq fell 153.04 points, or 1.04%, to 14491.92; and the S & P 500 fell 25.56 points, or 0.58%, to 4348.74. On Thursday morning, the United States
KE Holdings Inc. fell more than 11% before the market, and Zuo Hui, founder and chairman of the company, died of illness.
KE Holdings Inc. fell 11.14% before trading, after the company announced that its founder and chairman, Zuo Hui, had died on May 20, 2021 due to an unexpected deterioration of his illness.
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