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…
Photo: Spencer Platt (Getty Images) In This Story The Christmas holiday is fast approaching, and the festive spirit is in full swing as people gear up for celebrations, shopping sprees, and family reunions. While only a few companies are set to release earnings reports this week, the stock market is bracing for a potentially pivotal…
US stocks jumped on Friday, partly driven by Broadcom’s blowout earnings report. Broadcom’s AI revenue soared 220% this year, helping drive its stock up 18% on Friday. Investors are eyeing the Fed meeting next week, anticipating a 25 basis point rate cut. US stocks jumped on Friday, with technology stocks leading the market higher after…
Dow Extends Losing Streak. Up Next: the Fed. The Dow Jones Industrial Average fell for a seventh trading day in a row as bond yields continued to rise ahead of next week’s Federal Open Market Committee meeting. The Dow fell 86 points, or 0.2%, marking its longest losing streak since Feb. 28, 2020. The Nasdaq…
To get John Authers’ newsletter delivered directly to your inbox, sign up here. Points of Return has dwelt on so many geopolitical risks this year. Somehow the conflicts in neither Gaza nor Ukraine have upset oil markets, or averted the ongoing freight train that is the US stock market. Incumbent governments have been booted out…
US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to bring price pressures fully under control. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month, Bureau of Labor Statistics figures showed Wednesday. Over the last three months…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy likely maintained a moderate pace of job growth in September while the unemployment rate is expected to have held steady at 4.2%, which would further reduce the need for the Federal Reserve to deliver large interest rate cuts in its final two meetings of the year….
To get John Authers’ newsletter delivered directly to your inbox, sign up here. The last few days have been an exercise in game theory. What were the main motivations for the Federal Reserve, and would that prompt them toward a cut of 0.25% or 0.5% in the fed funds rate? We have our answer, and…
For Rhode Island, the advent of a rate cut comes at a time when the unemployment rate has gone up while the labor market is seeing fewer jobs available for workers. Meanwhile, the housing market has registered record prices for homes amid elevated mortgage rates and limited supply of homes in the market. Get Rhode…
To get John Authers’ newsletter delivered directly to your inbox, sign up here. The Fed went for it. The first cut to the benchmark fed funds rate in four years was a big one of 50 basis points. Market pricing had moved in the last few days to imply that there was a slightly better…