United States

The benchmark S&P 500 index has gained 16 per cent this year, pushed higher by Wall Street's obsession with artificial intelligence that has propelled mega-cap technology stocks to dizzying heights, CNN reported.

The monthly job total came in similar to last month’s job gains; however, the July total was revised down by 30,000 jobs to 157,000. June was revised down significantly as well, from 185,000 to 105,000, CNN reported.

Gross domestic product, the broadest measure of economic output, rose at an annualised rate of 2.1 per cent in the second quarter, according to the Commerce Department’s second estimate released on Wednesday, CNN reported.

This is the first time the authority has taken enforcement action against a company for selling unregistered NFTs.

He did not offer clear guidance on upcoming rate decisions, but maintained optionality for additional tightening and emphasised that rates will likely remain elevated until inflation returns to target.

In a highly anticipated speech Friday at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming Powell said the Fed will pay close attention to economic growth and the state of the labor market when making policy decisions, CNN reported.

One, the resilient US economy is supporting global growth and global equity markets; this is a positive. Two, the sharp spike in US bond yields (the 10-year yield at 4.34 per cent is the highest since 2007) is impacting capital flows to emerging markets like India; this is a negative for Indian markets, V. K. Vijayakumar said.

The Department of Justice (DoJ) announced that Teva will also make a $50 million drug donation to humanitarian organisations, along with a $225 million criminal penalty -- the largest to date for a domestic antitrust cartel. Glenmark will pay $30 million to resolve charges alleging that it conspired with Teva to fix prices for that cholesterol drug, called pravastatin.

Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes, CNN reported.

During an appearance on Seven Bartlett's 'Diary of a CEO' podcast, the 45-year-old tech guru -- whose desire to restore his organs to those of an 18-year-old -- stated that he would begin each day with three ounces of wine, reports The New York Post. Johnson also said that he cut out the morning drinking because he couldn't spare the calories.