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Nike and Dick’s Sporting Goods are likely to struggle near term as the footwear market weakens, according to Truist Securities. The bank downgraded both the apparel giant and Foot Locker owner to hold from buy. It lowered its price target on Dick’s to $135 from $270, suggesting nearly 9% upside from Tuesday’s close. Truist also cut its target on Nike to $42 from $47, or 6% above the price at which shares last closed. “We were previously more optimistic … but we now see headwinds as too severe,” analyst Joseph Civello said Wednesday in a note to clients. The downgrades…

Free NewsletterGet the hottest Fintech Singapore News once a month in your InboxRevolut has launched its first stablecoin as part of plans to expand its cryptocurrency services.The euro-denominated token, called EURR, is designed to maintain a value of €1.It is issued by payments infrastructure provider Bridge and integrated into the Revolut app.Eligible customers can use EURR across supported crypto services, external wallets and blockchain networks.The token offers a euro-based alternative to stablecoins pegged to the US dollar.Revolut will begin rolling out EURR in phases this month, starting with customers in Denmark, Poland and Portugal.The company plans to expand availability to…

Key PointsBoth Anthropic and OpenAI filed confidential S-1s in June, indicating that they’re planning IPOs in the not-too-distant future. OpenAI’s CFO recently indicated that its IPO won’t take place until 2027, as the company raised $122 billion in fresh capital earlier this year and isn’t in any hurry. On the other hand, Anthropic, the company behind the Claude AI tools, is reportedly targeting a public debut later this year, and at an eye-popping valuation. In fact, if the reports are accurate, Anthropic could surpass SpaceX as the largest IPO of all time.Missed Nvidia in 2009? This Rare Signal Is Flashing…

The S&P 500 Index ($SPX) (SPY) closed up by +0.32% on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.64%.  E-mini S&P futures (ESU26) rose +0.30%, and September E-mini Nasdaq futures (NQU26) rose +0.63%.Stock indices settled higher on Tuesday, supported by weakness in crude oil prices, which sent bond yields lower.  WTI crude oil fell more than -3% on Tuesday, easing inflation expectations and knocking the 10-year T-note yield down by -6 bp to 4.64%.  Crude prices tumbled on Tuesday on a news report that the US would be returning…

A Boeing 737 MAX 10 fuselage is pictured during the opening ceremony for the company’s new North Line assembly line, which will produce 737 MAX aircraft, at the Boeing Everett Factory in Everett, Washington, on July 10, 2026. Jason Redmond | Afp | Getty ImagesIn August 2018, the then-president and now CEO of United Airlines Scott Kirby told a room of reporters at an aviation conference in Denver about the airline’s big plans for the new Boeing 737 Max 10: lie-flat, premium seats and a host of profitable, transcontinental routes.The plane was supposed to start flying in 2020.Hundreds of those…

Blockchain analytics firm Chainalysis said a global operation it led identified more than 7,700 suspect accounts linked to child sexual abuse material (CSAM).According to a Tuesday press release shared with Cointelegraph, Operation Lighthouse investigated 29,120 crypto addresses and digital identifiers connected to over 100 CSAM platforms, forums and distribution networks across the surface and dark web. The operation also generated 14,300 investigative leads across 11 crypto exchanges and payment services and flagged suspects across 125 countries. Among the suspects identified were 16 registered sex offenders.Tom McLouth, senior intelligence analyst at Chainalysis, said the suspect pool also included military personnel, law…

BofA says investors continue to overlook value stocks, which work particularly well in a new era of higher interest rates and inflation.

Investors misread the mood music on U.S.-Canadian talks, in a big way.

A man has been arrested on suspicion of arson after a fire tore through a car park used by people flying from Gatwick airport, destroying about 140 vehicles.The blaze erupted at Caldyne business park near Crawley, about eight miles from the airport just after 9pm on Saturday. Images showed vehicles on fire and enormous plumes of smoke rising close to overhead power lines.As well as causing misery for those returning from summer holidays to find their cars destroyed, the fire led to power cuts at more than 2,000 businesses and homes.Emergency services described extinguishing the blaze as a “significant and…

Dagen McDowell explains how New York City’s government-run grocery store proposal faces a potential lawsuit from local private grocers over unfair competition, calling the taxpayer-funded plans ‘the spread of socialism.’ A coalition representing immigrant-owned grocers is targeting New York City in a lawsuit over democratic socialist Mayor Zohran Mamdani’s plans to open multiple government-owned grocery stores in the Big Apple, a government intervention that is expected to cut into the profits of regular markets. The lawsuit was expected to be filed Monday at 8 a.m. ET, following efforts to resolve the solution out of court.”Although we have not heard from…