Author: Jack Mulligan

Central bank keeps interest rate at 2.75 percent The Bank of Canada (BoC) left its overnight interest rate unchanged at 2.75 percent on Wednesday, reflecting ongoing concerns about global trade tensions, particularly those involving the United States. The hold was widely anticipated by economists, who cited both domestic economic resilience and persistent external risks as influencing the decision. Governor Tiff Macklem emphasized the unpredictability of U.S. tariffs, noting that the BoC would continue to provide multiple economic outlooks rather than a singular forecast. “U.S. policy remains too uncertain to offer a single economic projection,” he said. The Monetary Policy Report…

Shares surge 49% YTD as AI chips boost sentiment Advanced Micro Devices, Inc. (NASDAQ:AMD) is seeing a strong rebound in 2025, with its stock up 49% year-to-date. The gains come as investors grow more confident in AMD’s ability to compete in the artificial intelligence (AI) chip market. After initially trailing Nvidia due to the latter’s early dominance in AI accelerators, AMD is now viewed as a credible challenger, particularly with the rollout of its own AI-focused GPUs and CPUs. Investor sentiment has been supported by comments from market observers and analysts who believe AMD could gain meaningful market share in…

Economists Expect Hiring to Hit 10-Month Low The upcoming U.S. jobs report is forecast to show a marked slowdown in hiring, with economists predicting that only 100,000 jobs were added in July. This would represent the weakest employment growth since October and a decline from the 147,000 jobs reported in June. The unemployment rate is expected to edge up to 4.2%, slightly above the previous 4.1% figure, continuing the narrow range observed since mid-2024. The Bureau of Labor Statistics is scheduled to release the report on Friday. If confirmed, the data may signal mounting pressure on the labor market stemming…

Fed Keeps Rates Steady, Avoids September Guidance U.S. stocks ended mixed on Wednesday following the Federal Reserve’s decision to maintain interest rates. The central bank acknowledged moderate economic growth and left room for future policy adjustments, but gave no clear signals about a potential rate cut in September. While the decision to hold was expected, two Fed governors opposed it, favoring an immediate cut. During the press conference, Chair Jerome Powell emphasized that any future rate decisions will depend on incoming data. He noted that it remains too early to assess the full impact of ongoing trade policies on economic…

Maggie Gauger to Lead Brand Amid Sales Decline Athleta, Gap Inc.’s women-focused activewear brand, has appointed Maggie Gauger — Nike’s head of North America women’s business — as its new CEO. Gauger, who spent over two decades at Nike, becomes Athleta’s third chief executive in just two years. She replaces Chris Blakeslee, who will stay on temporarily to ensure a smooth leadership transition. Gauger steps in during a pivotal period for Athleta, which has seen a series of quarterly sales declines despite recent partnerships with high-profile athletes and new product lines. The brand’s performance has weighed heavily on Gap’s overall…

Finance Minister Pushes for Copper Deal Inclusion Chile’s Finance Minister Mario Marcel said Monday that copper tariffs will be a key topic in this week’s U.S.-Chile trade negotiations in Washington. Speaking on Chilean radio, Marcel emphasized the need for copper to be part of a broader trade agreement, rather than a separate issue. This comes as President Donald Trump’s administration prepares to enforce 50% tariffs on copper imports starting August 1. Chile, the world’s largest producer of copper and the top supplier of refined copper to the U.S., fears the tariffs could significantly impact its trade flow. Although the majority…

Stronger Risk Sentiment Pressures Gold Prices Gold futures opened Monday at $3,321.10 per ounce, slipping 0.4% from Friday’s close and extending a pullback from last week’s high of $3,441. Market optimism around recent global trade developments appears to be softening investor demand for safe-haven assets like gold. The dip follows reports of a new 15% tariff agreement between the U.S. and the European Union, as well as speculation that Washington and Beijing may extend their tariff truce by another 90 days. These moves suggest greater global economic stability, historically linked to a decline in gold purchases as investors shift toward…

Boosted Price Range Signals Strong Demand for Tech IPOs Figma has raised its expected IPO price range ahead of its stock market debut, now targeting a valuation of $18.8 billion. The design platform plans to raise $1.18 billion by offering nearly 37 million shares at $30 to $32 each. This move marks a notable increase from the earlier range of $25 to $28, signaling rising investor interest in high-growth tech stocks despite trade-related uncertainty. The new valuation places Figma closer to the $20 billion price tag it once commanded in a now-defunct acquisition deal with Adobe. That deal was scrapped…

July data fuels speculation of another rate hike this year Consumer inflation in Tokyo eased slightly in July but remained well above the Bank of Japan’s 2% target, sustaining pressure on the central bank to consider another interest rate hike before year-end. The Tokyo core Consumer Price Index (CPI), which excludes fresh food prices, rose 2.9% compared to the same month last year, down from June’s 3.1% increase and just below the 3.0% market forecast. The slowdown is attributed primarily to a base effect from last year’s spike in energy prices, which followed the end of government subsidies for fuel…

AI chip restrictions spark a thriving black market in Shenzhen Despite strict U.S. export controls on high-end AI chips, Nvidia processors like the H100 and A100 are quietly flowing into China — and staying operational thanks to a growing underground repair network. In Shenzhen, about a dozen boutique tech firms have carved out a lucrative niche servicing GPUs that technically shouldn’t be in the country at all. One such shop recently spun off a dedicated repair division, now handling up to 500 graphics units monthly. This surge in demand highlights the enormous appetite for functional AI hardware and the resourcefulness…