Dollar falls over 2% against yen as rate-gap narrows
The dollar fell over 2% against the yen Thursday, its steepest one-day drop since late-July intervention, as Japan rate expectations and narrowing yield gaps pressured USD/JPY to 155.48.
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The dollar fell over 2% against the yen Thursday, its steepest one-day drop since late-July intervention, as Japan rate expectations and narrowing yield gaps pressured USD/JPY to 155.48.
US 4-Week Bills were quoted at 3.700% with 58.44% at high.
US 4-week bill high yield posted 3.7%. Previous was 3.650%.
Good Morning Traders! Today’s economic calendar continues the first week of September with a packed schedule covering labor conditions, productivity, trade, and the services economy. The first major data arrives with the July Trade Balance, Imports and Exports, Final Q2 Non-Farm Productivity and Unit Labor Costs, and W
VersaBank said Q3 2026 brought record credit assets, revenue and net interest income, with net income up 53% year over year and total assets topping $7 billion for the first time.
VersaBank reported record Q3 credit assets, revenue and net interest income, with net income up 53% year over year and adjusted net income up 27%, driven mainly by its U.S. Structured Receivable Program.
U.S. stock futures advanced Thursday after Wednesday’s higher close, with President Donald Trump saying the market will go up despite Iran war and oil volatility.
U.S. equities advanced Wednesday, with the S&P 500 up 0.5% and the Dow up 0.4%, as AI dealmaking helped offset declines in software and cybersecurity shares.
Daktronics said first-quarter fiscal 2027 net sales rose 7.1% and EPS increased to $0.40, with operating income up 7.2% and cash from operations at $31.4 million.
FuelCell Energy said it secured its first order for FuelCell Energy Blocks for data center applications and lifted committed and awarded capacity backlog to $3.6 billion as of July 31.
Ed Yardeni said he is not buying the bond-market panic and argued that the 10-year Treasury yield below nominal GDP and inside its long-running range shows stress is not flashing.
Energy shares rose after U.S. Central Command said American forces began striking IRGC targets in Iran, lifting West Texas Intermediate crude to $90.46 and Brent to $95.05.
U.S. equities fell for a second straight session as Treasury yields climbed for a fifth day and crude oil extended gains, with markets increasingly pricing a Federal Reserve rate hike this month.
Minimed Group said first-quarter organic revenue grew 16% to $843 million and lifted fiscal 2027 organic revenue growth guidance to 10.5%, while reaffirming a 16% adjusted EBITDA margin target.
Five Wall Street analysts adjusted ratings or price targets on Ciena, Deere, Honeywell, NetApp and Tenax on Aug. 31.
Crude rallied Monday after renewed U.S.-Iran strikes, with West Texas Intermediate up 2.5% to $85.49 and Brent up 2.7% to $90.47. The 10-year Treasury yield hit 4.76%, while U.S. equities fell.
iShares 20+ Year Treasury Bond ETF TLT fell about 0.6% Monday as the 10-year yield traded near 4.73%, close to its highest since January 2025.
The Nasdaq 100 fell 1% to 29,359 after Kevin Warsh said inflation trends have not meaningfully improved, pushing September hike odds to about 60% from 35% before his Jackson Hole speech.
Cybersecurity shares jumped sharply after strong AI-demand optimism, while Nvidia rose 9% on a forecast for roughly 70% revenue growth next fiscal year. Technology was the only S&P 500 sector in the green midday.
Bitwise CIO Matt Hougan said Treasury Secretary Scott Bessent's market interventions and Iran sanctions messaging strengthen bitcoin's case as a scarce, neutral asset.
U.S. stock futures were mixed Thursday, with the Dow slipping and the S&P 500 and Nasdaq 100 rising after Wednesday’s lower close. Nvidia gained 7.32% in premarket after better-than-expected second-quarter results and a strong third-quarter revenue forecast.
U.S. new-home sales plunged 10.5% month over month in July to a seasonally adjusted annual rate of 607,000, missing economists’ expectation for a 1.4% decline.
U.S. stocks drifted lower midday Wednesday after July PCE inflation met monthly forecasts but ran hotter than expected annually, while second-quarter GDP growth was confirmed at an annualized 1.5%.
U.S. futures were mixed Wednesday, with Dow Jones futures higher and S&P 500 and Nasdaq 100 futures slightly lower, as investors awaited Nvidia's second-quarter earnings and key inflation and GDP data.
Strategy Inc. (NASDAQ: MSTR) rises after Canaccord Genuity keeps a Buy rating and raises its price forecast from $130 to $175, while the company also says it raised $2 billion through stock sales and formed a new liquidity pool.
Bitcoin briefly tops $80,000 while crude oil falls after President Donald Trump says the U.S. Navy removed “all mines” from the Strait of Hormuz.
Economists Jeremy Siegel and Ed Yardeni criticize Treasury Secretary Scott Bessent’s expanded bond buybacks, saying the intervention could distort yield-curve signals for the Fed.
President Donald Trump says tariffs on all cars, trucks, automotive parts and steel will rise to 50% on January First, 2027, pressuring industrial and auto supply chains.
Federal Reserve Chairman Kevin Warsh is due to debut at the Jackson Hole Symposium as markets track rising Treasury yields, a weaker dollar and policy signals.
BitMine Immersion (NYSE: BMNR ) stock staged a strong bullish breakout this week, reaching its highest level since May as Tom Lee’s aggressive dollar-cost-averaging (DCA) strategy began to pay off. Shares jumped to $22.83, up nearly 80% from their lowest point this year. Tom Lee Has Been Using an Aggressive DCA on Ethe