Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Meta-backed research finds exposure to ‘untrustworthy’ social media is rare. The fine print is less reassuring 
Gold Slips Below $4050 as Bond Yields Surge to 4.7% on Fed Inflation Concerns – Sell Rallies at $4060 Targeting $3940 
Same sparkle, different story: how lab-grown diamonds are transforming the market 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
‘Vibe coding’ is fun and easy, but there’s a major catch 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Ukraine’s drone strikes are having an impact on Russia — but Russian leaders remain committed to war 
Is Netanyahu’s star waning in Washington? His latest meeting with Trump suggests it may be 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
UK Services PMI Returns to Growth in July as New Orders and Confidence Rebound 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
Bank of America economist Aditya Bhave says this year’s holiday gatherings may bring more than cold weather—they may spark tough conversations about inflation, housing, interest rates, and the broader U.S. economy. In a recent note, Bhave highlighted the key economic questions families are likely to ask and how consumers can make sense of today’s shifting financial landscape.
According to BofA, inflation remains a major concern. Prices are rising at nearly 3%, and tariffs continue to squeeze household budgets. While select items like computers and apparel have become cheaper compared to last year, Americans may still feel the sting when credit card statements arrive. Elevated borrowing costs and higher prices for everyday goods continue to challenge consumers, making this holiday season more expensive for many families.
Housing affordability is another pressure point. Mortgage rates hover near 6.4% and home prices remain roughly 16% above their pre-pandemic trend, creating significant barriers for new buyers. The median age of first-time homebuyers has surged to 40—an all-time high—reflecting how difficult it has become to enter the housing market.
As for interest rates, BofA notes that while some relatives may wonder why the Federal Reserve isn’t cutting rates faster, aggressive cuts could backfire. Lowering rates too quickly risks overheating the economy and could push the 10-year Treasury yield—which influences mortgage rates—even higher. Despite a softer labor market, the bank highlights a “K-shaped” economy where tech stocks soar on AI optimism and wealthier households maintain strong spending patterns.
Artificial intelligence continues to play a pivotal economic role. Data centers are described as the “poster child of the AI boom,” with heavy investment in infrastructure, software, and equipment providing a meaningful lift to U.S. growth.
Looking ahead, BofA remains cautiously optimistic about 2025, pointing to supportive fiscal policy, easing financial conditions, and sustained AI-driven investment as key drivers of continued growth.
