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Today’s Headlines from Investopedia (5-July 2021)
by 趙永祥 2021-07-06 22:24:33, 回應(1), 人氣(753)


       Today’s Headlines from Investopedia(5,July 2021)


          By Caleb Silver, Editor in Chief  & 

                       Samuel Taube,
Newsletter Contributor

  • ransomware attack by hacking group REvil, which extracted a ransom payment from meat producer JBS last month, targeted IT firm Kaseya and subsequently infected hundreds of businesses over the weekend. The hackers used Kaseya's IT software to attack its clients' computers, and are demanding a single $70 million ransom payment. Affected organizations include Swedish supermarket chain Coop and school systems in New Zealand. 
  • The number of people passing through airports ahead of the July 4th holiday outpaced 2019 levels for the first time since the pandemic began. The Transportation Security Administration screened 2.2 million people on Friday, and a bit less than 1.7 million on the holiday itself. 
  • Bitcoin mining difficulty recorded its largest drop in history Saturday amid an ongoing Chinese government crackdown on cryptocurrency miners in the country. Mining difficulty plunged 28% at block 689,471. The drop is an automatic stabilizing mechanism which was triggered by the massive drop in hashrate (mining computing power) caused by the Chinese crackdown. It could make operational miners more profitable by increasing their bitcoin output. 
  • Oil prices rose to a 6-year high Monday after talks between OPEC and other oil-producing countries fell apart without an agreement on production policy for August and beyond. The group voted against a proposal which would have returned 400,000 barrels per day to the market each month between August to December on Friday. Talks were set to resume Monday but were called off. 
  • The Cyberspace Administration of China banned ride-hailing app DiDi from app stores on Sunday after saying it posed a cybersecurity risk for customers, and launched a wider cybersecurity probe of U.S.-listed Chinese tech firms. Other affected firms include Kanzhun Ltd, which owns the online recruiter Zhipin.com, and Full Truck Alliance (the result of a merger between truck-hailing apps Huochebang and Yunmanman).  
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What's Happening

U.S. stock futures are flat Tuesday morning, and the S&P 500 is expected to hover near its seventh consecutive record high when markets open.

 

The IHS Markit services purchasing managers' index (PMI) will be released at 9:45 a.m. and the Institute of Supply Management (ISM) services index at 10:00 a.m., both of which are vital indicators of non-manufacturing business activity in the U.S. Treasury yields are higher ahead of the data releases and tomorrow's Federal Reserve meeting minutes. 

 

Oil futures are trading higher after Baker Hughes reported Friday that the total number of active U.S. rigs rose by 4 to 376 rigs in the latest week, and after OPEC leaders failed to reach an agreement on production quotas.

 

European markets were mostly lower after the IHS Markit Eurozone construction PMI remained at 50.3 for June and the ZEW Indicator of Economic Sentiment for the bloc dropped to 61.2 in July.

 

Eurozone retail sales rose 4.6% in May. German factory orders fell 3.7% in May while the country's Zew Indicator fell to 63.3 in July. The U.K.'s construction PMI rose to 66.3 in June, while France's dropped to 48.9 in June. Spain's industrial production rose 26% year-over-year in May.

 

Asian markets were mostly lower amid an escalating Chinese cybersecurity crackdown on U.S.-listed tech companies. DiDi Global (DIDI), the Chinese ride-hailing app which began trading on the NYSE as an ADR on June 30, is down 20.22% in premarket trading, after a regulatory order to pull the app from app stores in China on Sunday, amid a government probe. 

 

The Reserve Bank of Australia held its cash rate at 0.1% during its recent meeting, but announced plans to gradually withdrawal emergency policy support. The IHS Markit Hong Kong PMI dropped to 51.4 in June. Household spending in Japan grew 11.6% year-over-year, while average cash earnings rose 1.9% in May.