Here are the most important news you should know today:
Dow Jones hits record high
The Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt, with the S&P 500 hitting an intraday high, the Nasdaq Composite rising 0.4%, and the Russell 2000 rising 1.8%. , touching its highest level since 2022.
The prospect of Trump being re-elected is seen as a positive for small businesses, rising and marking the fourth positive day in a row.
Trump appears in public for the first time since the assassination attempt
Former United States President Donald Trump made his first public appearance since surviving an assassination attempt by attending the Republican National Convention.
Trump arrived at the event with a bandage on his right ear, where a bullet had struck him during a rally in Pennsylvania.
The shooting occurred on Saturday, killing one rally participant and wounding another when a gunman opened fire in what the FBI declared an assassination attempt and is considering an act of domestic terrorism.
Trump appeared to be in good spirits, and Elon Musk said he plans to pledge about $45 million a month to a newly formed super PAC that supports Trump.
Jerome Powell talk
Powell said yesterday that the central bank will not wait until inflation reaches its 2% target to cut interest rates, due to the delayed effects of monetary policy, and if you wait until inflation falls to 2%, you have probably waited too long.
Fed's Daly hints at possible interest rate cuts
San Francisco Fed President Mary Daly hinted at the possibility of interest rate cuts as the US economy shows signs of slowing.
Daly noted that although inflation has declined, the 2% target has not yet been achieved, expressing confidence that it is moving towards the target. She went on to stress the need for more information before a decision can be made on interest rate cuts, but declined to provide a specific timeline for these changes.
Bitcoin
BlackRock CEO Larry Fink, who was initially a bitcoin skeptic, said he now sees the cryptocurrency as digital gold and a potential safe haven for investors concerned about political instability and rising government debt.
Fink believes that Bitcoin could offer uncorrelated returns and act as a hedge against currency decline caused by excessive deficits.
Bitcoin rose yesterday to reach levels of $65,000 before making some corrections during the Asian period today.
Asian markets mixed, Nifty stock hits all-time highs
Asian markets were mixed as investors weighed Powell's cautious comments and former President Donald Trump's choice as running mate J.D. Vance, who has frequently criticized China. Hong Kong's Hang Seng Index fell 1.37%, while China's CSI 300 rose 0.21%, and Japan's Nikkei 225 rose as markets resumed trading after a year's holiday, while India's benchmark Nifty 50 index hit an all-time high.
Oil declines after Chinese demand concerns
Oil prices fell on Tuesday on fears that a slowdown in the Chinese economy will undermine demand, although a growing consensus that the Federal Reserve will begin cutting its key interest rate next September limited the declines.
What do we expect from the data today?
From the American economy, we will have monthly retail sales, and from the Canadian economy, we await inflation data represented by the Consumer Price Index.
