British Prime Minister Rishi Sunak today called for a general election to be held on July 4th.
Speaking today, Sunak said, “Earlier today I spoke with His Majesty the King to ask for the dissolution of Parliament. The King has granted this request, and we will have a general election on the 4th of July.”
Today’s decision came as inflation in the UK fell to 2.3% in April, a decline of 3.2% from March.
Sunak added, “Economic stability is the bedrock of any future success. And because of our collective sacrifice and your hard work, we have reached two major milestones in delivering that stability.”
The FTSE 100 closed lower despite the news.
Nvidia Set to Report Q1 Earnings After Closing Bell
Shares in Nvidia were in the red on Wednesday ahead of the company’s latest earnings report.
The chipmaker is expected to report revenue of $24.65 billion for the first three months of 2024.
This is expected to come in on earnings of $5.59 per share and comes as revenue has risen by over 200% in the last two quarters.
Nvidia has become an earnings powerhouse in recent years following the latest boom of AI products like ChatGPT.
As of writing, the stock is down 1.57%.
Ethereum, Bitcoin Surge on Fresh ETF Hopes
Ethereum surged to a two-month high in today’s session, with Bitcoin climbing above $71,000 on hopes of new ETF products being approved.
Grayscale, BlackRock, and other providers have filed for SEC approval of spot Ethereum ETF products.
This comes as Bitcoin and Ethereum ETPs were also recently approved for listing on the London Stock Exchange.
The surge in crypto prices comes after several months of consolidation, following the initial rally that took place after Bitcoin ETFs were approved in January.
ETH is up 25% in the last week, with BTC 7% higher in the same period.
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.
William Feather
