Google's parent company Alphabet's pre-market gains expand to 4%

November 25th: In the United States, retail sales growth in September was lower than anticipated, taking a pause following the recent robust increases. The data released on Tuesday indicated a month-on-month retail sales growth of 0.2%, with August's growth remaining unchanged at 0.6%. Economists who were surveyed had previously forecasted a 0.4% growth in retail sales for the month. Sales had picked up in the previous months, partly because consumers were eager to purchase electric vehicles before the end of September for the tax credit. The slowdown in sales may not change economists' expectations for a rebound in third-quarter consumer spending. Excluding automobiles, gasoline, building materials, and food services, retail sales in September decreased by 0.1%, while August's retail sales were revised down to a 0.6% increase. These so-called core retail sales are closely in line with the consumer spending component of GDP. However, current consumption is mainly driven by high-incom

On November 25th, as reported by Fortune, the stablecoin issuer Paxos announced the acquisition of New York-based crypto wallet startup Fordefi in a deal exceeding $1 billion. Fordefi focuses on designing encrypted wallet solutions for Decentralized Finance (DeFi) and currently has around 40 employees, serving approximately 300 clients. This acquisition is aimed at meeting the increasing access demands of customers for DeFi. Fordefi will remain operationally independent for the time being, but Paxos plans to eventually integrate its technology into its own infrastructure. This is Paxos's second acquisition in the past year. It previously acquired Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.

On November 25th, Federal Reserve Governor Milan said that the economy requires a significant interest rate cut. He anticipates that the employment data will persuade other Federal Reserve members to reduce interest rates. Monetary policy is having a negative impact on the economy. It is challenging to quantify the influence of artificial intelligence on the economy. The Federal Reserve should promptly lower interest rates to a neutral level. (IG)

November 25th: The price of spot gold continues to ascend. It is currently trading at $4141 per ounce and has wiped out all the losses that occurred after the previous news about the progress in Russia-Ukraine talks. Previously, US officials stated that the Ukrainian delegation had reached an agreement with the US on the terms of a possible peace deal, which led to the weakening of gold.

On November 25th, in the U.S., Retail Sales Month-on-Month in September was 0.2%. The expected value was 0.4%, and the previous value was 0.6%.

November 25th: U.S. Treasury Secretary Yellen declared that the "abundant reserve regime" of the Federal Reserve might be eroding slightly. It is necessary to simplify measures as the Fed has an excessive number of tools. There is concern about the rising cost of living, but the Fed's policy needs to focus on the future. It is time for the Fed to step back. Fed officials seem to be inclined to cut interest rates.