Wall Street closed mixed on Tuesday, driven by utilities and financial stocks. While producer-side inflation released on the day boosted morale, investors currently await consumer inflation numbers eagerly. Two of the three most widely followed indexes closed the session in the green, while one ended in the red. The Dow Jones Industrial Average (DJI) rose…
New data from the Bureau of Labor Statistics out Wednesday showed that a key inflation metric eased for the first time since July. On a “core” basis, which strips out the more volatile costs of food and gas, the December Consumer Price Index (CPI) climbed 0.2% over the prior month, a deceleration from November’s 0.3%…
Hong Kong’s six biggest lenders lowered their prime lending rates for a third time this year, trimming borrowing costs to the lowest level in more than two years. HSBC and subsidiary Hang Seng Bank said they would trim their prime rate by 12.5 basis points to 5.25 per cent from Friday, the lowest since August…
A trader works on the floor of the New York Stock Exchange on Dec. 12. – Photo: Liu Yanan/Xinhua (Getty Images) The Dow Jones Industrial Average fell almost 250 points on Tuesday in what could be its longest losing streak since the 1970s. The index was down 244 points in midday trading, falling 0.56% to…
By Lewis Krauskopf NEW YORK (Reuters) – A banner year for U.S. stocks gets one of its last big tests with the coming week’s Federal Reserve meeting, as investors await the central bank’s guidance on interest rate cuts. The Nasdaq Composite index breached 20,000 for the first time ever in the past week, another milestone…
(Bloomberg) — Asian stocks rose Thursday after US equities snapped a two-day slide on benign inflation data that supported expectations of a Federal Reserve interest-rate cut this month. Most Read from Bloomberg Japanese stocks led gains in the region, with equities in China, Hong Kong and South Korea also rising. The rally was driven by…
(Reuters) – U.S. stock index futures slipped on Wednesday as investors awaited key economic data, including a crucial inflation report, which is expected to influence the Federal Reserve’s future monetary policy path. The Personal Consumption Expenditure report, the central bank’s preferred inflation data, is due at 10 a.m. ET. Economists polled by Reuters expect prices…
(Bloomberg) — India’s youngest infrastructure lender has increased hedging in the interest-rate derivatives market to such an extent that it’s helping keep a lid on funding costs in the country, an unintended benefit to a slowing economy. Most Read from Bloomberg The lender’s more active presence has played a key role in causing India’s five-year…
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All three major indexes pressed to record highs after Donald Trump won the 2024 presidential election. For the week, the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) rose more than 4.5%, while the Nasdaq Composite (^IXIC) rose nearly 6%. In the week ahead, a fresh reading on inflation and retail sales will…