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Nordstrom Posts Mixed Q2 Results, Cuts FY19 Outlook

  Shares of the luxury department store chain Nordstrom, Inc. (NYSE: JWN) soared 15.26% or $4.21 to close at $30.75 after the company posted mixed quarterly results that showed a decline in sales, but blew away Wall Street earnings forecasts.

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Ruble Up As Russia Posts 1.7% y-o-y GDP Growth in July

  The Russian ruble started gaining against the greenback yesterday after recent calls were made to bring back Moscow into the G7 group. Following the invasion and takeover of Crimea, Russia was booted out of the group of eight economies

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EU Begins Antitrust Scrutiny Of Facebook’s Libra Project

  The cryptocurrency market has turned bearish as there was not enough momentum to trigger another round of rally. Once again, Bitcoin (BTC) succumbed to pressure, falling below $10,000 levels. The most popular cryptocurrency has lost 4.2% in the past

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Pound Remains Weak Despite Budget Surplus In July

  The British pound remains range-bound against the greenback despite news reports of a small budget surplus in July. The rebound in the US existing home sales is one of the reasons for the range-bound movement of the pound. In

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Euro Remains Range Bound Despite Positive German PPI Data

  The eurodollar remains range-bound against the greenback despite the release of better than anticipated macroeconomic data from Germany. In fact, the eurodollar continues to hover near the two-year low mainly because the higher US Treasury yields have lent the

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GE Down Despite Clarification Given To Fraud Investigator

  The stock of General Electric Company (NYSE: GE) plunged last week after Harry Markopolos, a whistleblower known for bringing to light Bernie Madoff’s Ponzi Scheme, cautioned investors of accounting fraud “bigger than Enron and WorldCom combined.” In his 175-page

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Thai Baht Turns Weak As GDP Growth Slows To 5-yr Low

  The Thai baht turned volatile yesterday against the greenback after the National Economic and Social Development Council reported a five-year low economic growth in the second quarter due to weak domestic demand and sluggish exports. The institution also downgraded

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Kelly Services Opts For Blockchain-Powered Hiring Platform

  The cryptocurrency market remains mixed with some of the top 20 altcoins showing gains and rest of them in the red. Bitcoin (BTC), however, managed to cross above $10,000 level to trade at $10,813.17, representing a gain of 4.2%

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NVIDIA Beats Q2 EPS Estimates, Issues Weak Q3 View

  The computer hardware manufacturer NVIDIA (NASDAQ: NVDA) posted higher earnings in fiscal 2020 second quarter, compared with the similar period last year. However, on a y-o-y basis, the company posted a decline in revenue, primarily due to the poor

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US Dollar Weakens On Drop In UoM Consumer Sentiment Index

  The greenback fell against the euro on Friday after the University of Michigan consumer sentiment data did not meet analysts’ expectations. The decline in housing starts also fueled the US dollar’s weakness. However, the euro was unable to record

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