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Markets are bracing for a cautious week as uncertainties surrounding the upcoming US elections intensify, with Kamala Harris and Donald Trump in a tight race. Attention turns to Tesla's earnings, expected to show a revenue rise but a decline in EPS, while the Nasdaq 100 remains close to its record high, awaiting catalysts for further movement. Sector performances were mixed, with utilities leading gains and healthcare lagging due to disappointing profit guidance from UnitedHealth.
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Donald Trump has reentered the Bloomberg Billionaires Index, ranking 481st with a fortune of $6.5 billion, marking his return after 11 weeks. His wealth surged as the stock of his media startup, Trump Media & Technology Group Corp., which owns Truth Social, nearly tripled in value since late September.
Federal student loan borrowers enrolled in the SAVE plan will remain in interest-free forbearance for at least six more months as legal challenges to the plan continue. While applications for income-driven repayment plans have reopened, borrowers may still face delays and potential forbearance during processing. The outcome of ongoing lawsuits could significantly impact the future of the SAVE plan and other debt relief initiatives.
The healthcare gamification market is poised for growth, driven by increased adoption and technological advancements, though challenges in sustaining long-term user engagement may hinder progress. Key players include Cognifit, Fitbit, and Nike, with regional dynamics influencing market potential. The report highlights current trends, growth opportunities, and industry barriers, providing a comprehensive view of the market landscape.
U.S. Treasury Secretary Janet Yellen announced that G7 and EU allies are nearing the finalization of a $50 billion loan to Ukraine, with the U.S. contributing approximately $20 billion, backed by frozen Russian assets. Yellen expressed confidence that these assets will remain immobilized, ensuring that U.S. taxpayers will not bear the loan's repayment burden. Additionally, she indicated that new sanctions targeting intermediaries supplying Russia's military will be unveiled soon.
As a potential Trump return raises concerns, EU's Lagarde emphasizes the importance of fair trade for growth and innovation, warning against protectionism. She acknowledges the risks posed by China's market practices while highlighting the negative impact of proposed tariffs on European exporters. The IMF has identified protectionism as a major threat to the global economy, revising its growth forecast for next year.
Goldman Sachs warns that the euro could decline by up to 10% against the dollar if Donald Trump and the Republicans win the upcoming US elections and implement high global tariffs alongside significant domestic tax cuts. The bank anticipates that a robust US economy and relatively high interest rates will sustain dollar strength, potentially extending beyond current forecasts if tariffs increase significantly. Additionally, it predicts a 12% drop in the yuan under similar circumstances.
Congress is urged to act this fall to enhance Medicare coverage for breakthrough medical technologies, as current policies are insufficient. While the FDA's expedited review process for innovative devices exists, Medicare's slow coverage can delay access for millions of beneficiaries, particularly those in underserved communities. Legislative efforts, such as H.R. 1691, aim to provide a more comprehensive solution, promoting health equity and encouraging medtech innovation.
European Central Bank President Christine Lagarde suggested that Donald Trump should visit Frankfurt to understand the challenges faced by Federal Reserve Chair Jerome Powell. In an interview with Bloomberg Television, she emphasized that setting interest rates is far from an easy task, countering the presidential contender's claims.
UBS forecasts a volatile EUR/USD currency pair, expecting it to rise to 1.16 by the end of 2025, despite short-term risks from the US election. The bank advises selling during USD strength phases, particularly if Trump wins, while maintaining a positive outlook for European growth. Recent US labor market strength and ECB rate cuts are influencing the currency dynamics, with key support at 1.08 and resistance at 1.12 and 1.15.

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