The Soft Landing

US job openings drop below 9 million for the first time since March 2021: The job market in the United States has worsened for the third consecutive month, with available jobs dropping below 9 million for the first time since early 2021. The Bureau of Labor Statistics released data that fewer workers are quitting, businesses are hiring less, and a slight increase in layoffs. The job market appears to be stabilizing, with job openings in July at around 8.827 million, the lowest since March 2021. Surprisingly, there are now 1.5 available jobs for every unemployed person.

Bitcoin rallies more than 7% as court sides with Grayscale over the SEC in crypto ETF case. The price of bitcoin skyrocketed on Tuesday thanks to a ruling by the U.S. Court of Appeals. The court said the Securities and Exchange Commission was wrong in denying Grayscale permission to convert their bitcoin trust into an ETF. Bitcoin jumped 7.5% to $27,911.67, as reported by Coin Metrics. This positive move also lifted other cryptocurrencies and crypto equities higher.

Former White House economic advisor says more Fed hiking is coming: According to a former White House economist, it looks like the Federal Reserve is planning to raise interest rates once again! Kevin Hassett, who used to be the chairman of the Council of Economic Advisers under President Donald Trump, spilled the beans on CNBC's "Squawk Box." He believes this move is in response to the increasing inflation numbers and energy prices. So, get ready for some more hiking action!

Shares of BYD jump after Chinese EV maker posts 200% surge in first half profit: Exciting news from a Chinese automaker! Shares of a certain automaker from China skyrocketed by over 5% on Tuesday after announcing a record-breaking surge in first-half profit. This Chinese electric car maker delivered a record number of cars, resulting in a staggering 204.68% increase in net profit for the first half of the year. They earned a whopping 10.95 billion yuan ($1.50 billion) in net earnings from January to June, compared to 3.59 billion yuan last year. Additionally, the automaker's shares listed in Hong Kong rose by 5.6%, while stocks in Shenzhen saw a fantastic rise of up to 4.75% on Tuesday.

Is Covid back?! School districts in Kentucky, Texas cancel classes amid 'surge' of illnesses including COVID. Some districts in different states are already canceling in-person classes due to respiratory viruses, including COVID-19. Two school districts in Kentucky, Lee County School District and Magoffin County Schools, have closed down due to illness. Stay safe!