SEC Halts Approval of Bitwise ETF
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
Gold Surges to $3350 as Tariffs and Weak Jobs Data Rattle Markets
Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated assets— and may continue to in the future. Here's what you need to know: Gold spot prices surged to $3350/oz Friday after a weak Jobs Report and new tariffs triggered a market shock. Earlier in the week, gold briefly dipped below $3300/oz amid Fed uncertainty and profit-taking. The Fed held rates steady but hinted that future moves depend on inflation and tariff-driven risks. Volatility is expected to carry over into next week due to limited economic data and elevated uncertainty. So, What Kind of a Week Has it Been? Financial markets, both as a technical marketplace and as a mass of people, appeared to be riding the waves pretty smoothly for much of this week. Those waves being one of the highest profile weeks, from a macroeconomic data perspective, in some time, as well as the potential pivot-points of the July FOMC meeting and the enactment of another raft of Trump Tariffs against many of the US' foundational trading partners. Gold Slides Early, Then Spikes For gold specifically, trading in the first days of the week was frothy at times as traders positioned themselves for mid-week fireworks and made liquidations to lock in profits before closing the book of business for July. On net, the yellow metal slid slightly lower during these sessions but appeared to have healthy support and ultimately traded comfortably in a band between $3320-3330/oz in the spot market. Very early Wednesday morning, as managers and investors prepared for the FOMC announcement (and, to a lesser extent, the first-look at US GDP for Q2,) gold endured the sharpest sell-off of the week, breaking down support and taking spot below $3300 just before the US cash-market opened and continuing to slide to the weekly nadir at $3270/oz. FOMC Holds Steady, Market Digests The FOMC's July announcement was delivered largely as expected: No rate cut yet, to the chagrin of the US administration among others, and a refusal to directly suggest that a cut in September (to say nothing of the Jackson Hole summit this month) is anything more than a possibility while pointing to the potential inflationary effects of the US' Trump Tariff policy clicking into effect in August as the main reason for needing to 'wait and see.' Gold prices reacted with a moderate rebound, although any rally higher for the precious metal was going to be muted by headwinds following on from the Fed announcement (recall, much of gold's upward mobility in 2025 has been based on an expectation of lower rates.) When Asian markets opened for Thursday's trading, however, the chop-and-change as traders unwound pre-FOMC positions or otherwise locked in positions and/or profits ahead of both month-end and the eleventh hour before the US' threatened trade restrictions had an unexpected effect of pushing gold higher. The yellow metal peeked briefly back above $3300 before the start of US trading, and another US Dollar rally wound gold back to the neighborhood of $3290. Jobs Report Shock and Tariffs Ignite a Rally From here, it looked as if gold would end up closing the week at a moderate loss between Sunday evening's opening bids and Friday's close. But the double-whammy of a slew of the Trump Administration's punitive tariff rates going into effect as of August 1, combined with a very ugly July Jobs Report, has tripped markets into a powder keg. The resulting explosion in volatility has shot gold spot prices sharply higher. July's Non-Farm Payrolls data, expected to show +100K jobs added to the US economy, instead came in at a disappointing 73K while also making drastic downward revisions to the prior two months' reporting. This, as much as anything, has been the catalyst for gold's aggressive spike to end the week, quickly jumping $40/oz to $3340 minutes after the print before picking up another +$10/oz once US markets opened. The primary signals here were clear pluses for gold as an asset. On one hand, gold benefits from the inherent shock of instability and uncertainty the Jobs Report has flushed into markets (which has, at the same time, rocked equities lower.) On the other hand, the dominant read of this data is that it piles much stronger pressure on the Fed to begin easing conditions by cutting rates, another boon for gold. What's Next? This shock has been so acute and aggressive, and has come so close to the end of the week, that it is likely we will see momentum carry on when markets reopen on Sunday evening. If it can hold serve, we may see more risk-off rebalancing into gold positions as the calendar ahead is much, much lighter on consequential macro data. In the meantime, traders, I hope you can get out and safely enjoy your weekend for the next couple of days. After that, I'll see you back here next week for another market recap. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31 minutes ago
- Yahoo
Flora Growth Corp. (FLGC) Reports Q2 Loss, Tops Revenue Estimates
Flora Growth Corp. (FLGC) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to a loss of $0.22 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -83.33%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced a loss of $0.04, delivering a surprise of -300%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Flora Growth, which belongs to the Zacks Medical - Products industry, posted revenues of $14.8 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 25.71%. This compares to year-ago revenues of $15.68 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Flora Growth shares have lost about 42.9% since the beginning of the year versus the S&P 500's gain of 7.8%. What's Next for Flora Growth? While Flora Growth has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Flora Growth was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.06 on $12.52 million in revenues for the coming quarter and -$0.40 on $47.63 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Allurion Technologies, Inc. (ALUR), has yet to report results for the quarter ended June 2025. This company is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of -360%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Allurion Technologies, Inc.'s revenues are expected to be $5.95 million, down 49.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Flora Growth Corp. (FLGC) : Free Stock Analysis Report Allurion Technologies, Inc. (ALUR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
31 minutes ago
- Yahoo
Why AppLovin (APP) Dipped More Than Broader Market Today
In the latest close session, AppLovin (APP) was down 2.95% at $379.17. This change lagged the S&P 500's daily loss of 1.6%. Elsewhere, the Dow saw a downswing of 1.23%, while the tech-heavy Nasdaq depreciated by 2.24%. Shares of the mobile app technology company have appreciated by 14.36% over the course of the past month, outperforming the Business Services sector's loss of 1.38%, and the S&P 500's gain of 2.25%. The investment community will be paying close attention to the earnings performance of AppLovin in its upcoming release. The company is slated to reveal its earnings on August 6, 2025. The company is expected to report EPS of $1.99, up 123.6% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.21 billion, showing a 12.34% escalation compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of $8.39 per share and revenue of $5.51 billion, which would represent changes of +85.21% and +17.02%, respectively, from the prior year. Investors should also note any recent changes to analyst estimates for AppLovin. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. AppLovin is currently a Zacks Rank #3 (Hold). In the context of valuation, AppLovin is at present trading with a Forward P/E ratio of 46.54. This indicates a premium in contrast to its industry's Forward P/E of 21.61. We can additionally observe that APP currently boasts a PEG ratio of 2.33. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.79. The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 40% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AppLovin Corporation (APP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
