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On the Margin Newsletter: What would a Trump sweep mean for markets?
On the Margin Newsletter: What would a Trump sweep mean for markets?

Plus, a look into US spot BTC funds six months into trading

Blockworks·2024/07/12 07:31
Federal Reserve’s strategy for fighting inflation is working
Federal Reserve’s strategy for fighting inflation is working

Share link:In this post: The Fed’s Alberto Musalem says we’re making good progress on lowering inflation but didn’t say when rates might drop. The latest CPI report shows inflation falling more than expected, raising hopes for possible rate cuts later this year. Jerome Powell said that the Fed needs to see sustained inflation control before cutting rates.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provide

Cryptopolitan·2024/07/12 06:43
Flash
14:37
Ventuals: HIP-3DEX Fully Closed, vHYPE Withdrawal Now Available
BlockBeats News, June 19th, Ventuals announced that HIP-3 DEX has been fully shut down, and vHYPE withdrawals have now begun. Approximately 380,775 HYPE in the full withdrawal queue was processed around 10 a.m. EST today. Previously queued vHYPE withdrawals were all included in this batch processing. Ventuals advised all vHYPE holders to initiate withdrawals, stating that 100% of vHYPE holders can redeem their HYPE at a 1:1 ratio and receive accrued native staking rewards since deposit.
14:36
Economist: Spending in Canada shows significant weakness excluding cars and gasoline
Jasleen Trehan, an economist at the Canadian Chamber of Commerce, stated that Canadians' spending on daily categories such as groceries and general merchandise weakened significantly in April. Nominal retail sales grew by 0.5% in April, but core sales excluding autos and gasoline declined by 0.7%. Trehan said that the estimated growth for May shows signs of consumer resilience, but given the weakness in the labor market, lingering uncertainty over U.S. trade policy, and concerns about energy-driven inflation, the path ahead remains uncertain.
14:33
According to the Financial Times, ongoing negotiations reveal that pharmaceutical giant AbbVie plans to acquire shareholders' equity in biotech company Apogee Therapeutics for a total of $10.9 billion in cash.
If this move is ultimately implemented, it will mark AbbVie's further strengthening of its presence in the innovative biologics sector beyond its core immunology field. Market analysts point out that this potential massive deal highlights large pharmaceutical companies’ strong desire to acquire biotech firms with promising pipelines, aiming to supplement their own product portfolios and drive future growth. Currently, neither party has formally commented on the transaction details, and subsequent developments are worth close attention.
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