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- US Credit Rating Downgraded
Market Overview
Read time 0.9 minutes
Year To Date Performances:
| Dow Jones | 35,282.52 | 6.48% |
| S&P 500 | 4,513.39 | 18.02% |
| Nasdaq | 13,973.45 | 34.53% |
| Rusell 2000 | 1,966.83 | 12.34% |
| TSX | 20,218.21 | 3.98% |
| Bitcoin | $29,203.90 | 76.68% |
| Ethereum | $1,844.11 | 54.25% |
| US to Canadian Dollar | $1.33 | -1.64% |
The United States’ credit has decreased as Fitch Ratings lowered its credit rating from AAA to AA+. It's the first time in more than ten years that a big rating company has done this. During the debt limit ceiling debate in May, Fitch put the US on its downgrade watchlist. The downgrade happened because Fitch was worried about how the country is being governed, increasing government deficits, and a possible recession later in the year. Treasury Secretary Janet Yellen didn't like the decision and called it "arbitrary," saying that Fitch used old data.
Threads is facing challenges with keeping users engaged. To tackle this, its parent company Meta plans to launch AI chatbots called "personas." These chatbots will have different personalities, like Abraham Lincoln or a helpful travel assistant. Users can talk to them, ask questions, or seek advice. Moreover, these chatbots will collect more user data. This is part of Meta's effort to improve user experiences and retain users on their platforms.
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Headlines
The US labour market started showing signs of easing in June as job openings fell to their lowest since April 2021.
AMD could develop a semiconductor chip specifically for the Chinese market to comply with US export restrictions.
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