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2-year Treasury yield posts largest single-day gain in around six weeks

“The benchmark 10-year Treasury yield TMUBMUSD10Y, +2.09% climbed 4.7 basis points to 2.254%, the biggest single-day gain since July 25” writes Sunny Oh for marketwatch.com. While, the yield for the 30-year Treasury bond TMUBMUSD30Y, +1.42%  , known as the long bond, rose 3.4 basis points to 2.839%.The two-year note’s yield TMUBMUSD02Y, +1.82% sensitive to expectations for Federal Reserve policy,  rose 2.8 basis points to 1.351%, the largest single-day jump since July 3, extending the weeklong gains to 5.6 basis points.Bond prices move inversely to yields.Elsewhere, the U.K’s inflation numbers came…

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US retail sales jumped 0.6 percent in July

“Retail sales advanced 0.6 percent last month, the best showing since a gain of 0.9 percent last December, the Commerce Department reported Tuesday” writes The Associated Press for seattletimes.com. Sales by non-store retailers, the category that tracks internet commerce, posted a strong gain of 1.3 percent.For most of this year, retail sales have been lackluster, including a decline in May of 0.2 percent and a modest 0.3 percent June gain.WASHINGTON (AP) — Consumers went out shopping in a big way in July, pushing up retail sales by the largest amount…

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News Stocks 

Apple’s stock heads for 3rd straight gain as Tepper doubles stake, Buffett keeps large position

“Separately, billionaire George Soros’s hedge fund Soros Fund Management increased its stake in Apple to 1,700 shares from 1,400 shares” writes Reporter Editor for marketwatch.com. AAPL, +1.50% rose 0.5% in premarket trade, on track for a third-straight gain, after billionaire hedge fund manager David Tepper more than doubled his stake in the tech giant, and Warren Buffet maintained his large stake.BRK.B, +1.11% kept its Apple stake intact at 129.4 million shares, enough to make Berkshire the fifth largest shareholder.Tepper’s Appaloosa LP owned 625,000 shares of Apple as of June 30,…

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News Stocks 

S&P 500 on track for best daily gain in about 4 months

“Stock markets Monday afternoon were enjoying a sharp rally, putting the S&P 500 index in position to post its best daily gain in about four months” writes Mark Decambre for marketwatch.com. The S&P 500 index SPX, +1.01% was most recently up more than 1% at 2,466, which would represent the best daily gain for the broad-market benchmark since April 24, according to FactSet data.In fact, the S&P 500 has only seen a gain of at least 1% on two other occasions so far in 2017 (including March 1), with a…

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Futures Markets News Stocks 

Dow futures flirt with 100-point gain as North Korea fears put on back burner

“See: North Korea could take back seat as stocks face big week for consumer data” writes Markets Writer for marketwatch.com. U.S. stock futures gained early Monday, with Dow futures at times trading higher by more than 100 points, signaling a rally for the blue-chip gauge after last week’s 234-point fall that was driven in part by North Korea fears.Dow Jones Industrial Average futures YMU7, +0.43%  were recently up by 93 points, or 0.4%, to 21,941, after earlier showing a rise of 106 points. Source: marketwatch.com Share This:

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Crypto News 

Overstock expands cryptocurrency acceptance

“However, for Overstock, expanding the types of digital currencies it accepts could be a way overcome this hurdle” writes Ayoub Aouad for businessinsider.com. Merchant acceptance of bitcoin is at an all-time low — out of the leading 500 internet sellers, just three accept bitcoin, down from five last year.Adding more cryptocurrencies could be an advantage for Overstock, as the digital currency market becomes more fragmented — bitcoin’s market share of digital currency has dropped from over 80% to roughly 50%. Source: businessinsider.com Share This:

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Markets News 

Smart cities gain traction in the west

“The smart cities segment has enormous potential as a market for IoT solutions, but it is also an inherently slow-moving market” writes Nicholas Shields for businessinsider.com. This news gives some insight into where Telensa thinks future smart city growth will be: Smart cities are cities that leverage IoT devices like sensors, smart lights, and smart meters to gather data that can be analyzed to gain new insights regarding their infrastructure, population, and public services. Source: businessinsider.com Share This:

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News Regulators 

US wholesale prices edged down 0.1 percent in July

“The 0.1 percent dip in wholesale prices in July reflected a 0.3 percent drop in energy costs in July, which followed even bigger declines in May and June” writes The Associated Press for seattletimes.com. Core inflation, which excludes volatile food and energy costs, also fell last month by 0.1 percent.The Labor Department said Thursday that its producer price index, which measures inflation pressures before they reach the consumer, edged down 0.1 percent last month, reflecting a third month of declines in energy prices and a flat reading for food. Source: seattletimes.com…

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ABN AMRO posts massive gain in net profit

“ABN AMRO Group NV (ABN.AE) Wednesday reported a massive rise in its second quarter net profit, as it booked a 200 million euro ($234.7 million) gain on the sale of Private Banking Asia and refined two risk models” writes Ian Walker for marketwatch.com. The Dutch bank’s net profit for the three months ended June 30 was EUR938 million, compared with EUR380 million a year earlier. Source: marketwatch.com Share This:

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