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12Aug2021 Midday Update: Dow, SP 500 Touch Records As Investors Assess Economic Data, DOW At 12:30 ET -40 Points, Nasdaq +0 1%, Bitcoin Slips To 42800
econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
Weekend reads: Rising inflation and the Federal Reserve s response to it
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On the heels of Biden s big blowout, the dollar is tumbling.(biggest 3-day slump since the election/vaccines in early Nov).
Source: Bloomberg
And bitcoin surged back up near $58,000, erasing the losses from its record highs in mid-Feb.
Source: Bloomberg
Did Washington just cut the rope from reality?
On Thursday China s parliament approved a resolution to impose sweeping changes on Hong Kong s electoral system which is ultimately aimed to ensure that mainland loyalists are in firm control of running the city.
The new requirement of patriotism to run for Hong Kong s legislature means the likelihood that future elections will merely be a competition among candidates over who is more loyal to Beijing, rather than running based on bettering the city.