July 28, 2023

Markets Now

Japan sends yen soaring and stocks tumbling with hint it could join rate-hiking party

Japan’s central bank kept interest rates unchanged Friday despite rising inflation but hinted that it could gradually abandon years of ultra-cheap money, sending the yen soaring and stocks tumbling.  
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Tupperware shares are up 165% this week as meme stock mania takes hold

The meme traders are back. Shares of Tupperware have exploded by about 165% this week and more than 300% over the last month for no discernible reason.  
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Why is the US dollar losing its shine?

The US dollar’s decline has gained speed this month as investors pare back their interest rate expectations.  
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Adidas clearing out more Yeezy shoes in second wave

Adidas is releasing a second wave of Yeezy shoes into the market as it moves to clear out the inventory of its defunct collaboration with Ye, formerly known as Kanye West.  
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Wind and solar are propping up the Texas power grid amid a brutally long heat wave

As Texas bakes under a sweltering heat dome, the power has stayed on and prices haven’t spiked tremendously. Thank wind and solar, energy experts say.  
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ExxonMobil earnings fell on sinking oil prices

ExxonMobil’s profit fell sharply in the second quarter on lower oil and natural gas prices, leaving earnings below Wall Street forecasts.  
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Source: CNN Business

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