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Michele Says Three Fed Dissenters Signal Continued Pressure on Rates

Bob Michele of J.P. Morgan Asset Management said the Federal Reserve’s decision on Wednesday to stay on hold was opposed by three members, suggesting that upward pressure on rates may persist. “The three dissenters in the most recent statement are the more imp…

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Michele Says Three Fed Dissenters Signal Continued Pressure on Rates

Bob Michele of J.P. Morgan Asset Management said the Federal Reserve’s decision on Wednesday to stay on hold was opposed by three members, suggesting that upward pressure on rates may persist. “The three dissenters in the most recent statement are the more imp…

Euro tops 1.1467 as major currencies move in New York trading

On Wednesday (July 29) in New York late trading, the euro rose more than 0.6% against the U.S. dollar, hitting a session high of 1.1467 after Fed Chair Wosh’s press conference ended. The British pound rose 0.51% against the dollar, while the Swiss franc gained…

U.S. stocks fall after the Fed holds rates steady

On the day the Federal Reserve announced it was holding rates steady, the S&P 500 closed down 112.63 points, or 1.52%, at 7,316.15. After a modestly lower open, U.S. stocks kept falling through the morning session, then began recovering from 00:17 Beijing time…

U.S. senators press Apple over chips from two Chinese firms

According to a Bloomberg report on July 30, several U.S. senators said in a joint letter to Apple CEO Tim Cook that Apple should not use memory chips made by the two Chinese companies in its products, even if those products are sold only in the China market. T…

Nasdaq Golden Dragon China Index rises 1.73% as China ETFs end mixed

The Nasdaq Golden Dragon China Index rose 1.73% to 6,434.96, approaching its June 4 closing level of 6,597.34. It has now closed above its 50-day moving average for two straight sessions; that indicator currently stands at 6,272.15. The index is also nearing i…

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Cook Says Apple’s Supply-Chain Flexibility Is Lower Than Usual

Apple CEO Tim Cook said that the supply chain is currently less flexible than it used to be. He said the issue lies in cutting-edge chip production. That means TSMC is not providing Apple with more wafers, or at least not the amount Apple had expected. “We are…