The inflation fight may be nearing the end, but the political one is just beginning. Former Federal Reserve vice chair Lael Brainard said she would support a rate cut at the central bank’s December meeting, warning that cracks are forming “under the hood” of an economy increasingly defined by an AI-fueled divide. “I would be…
To say this year has been huge for investors is an understatement. Stock prices are near a record. The unrelenting AI boom has cemented Nvidia (NVDA) as a $5 trillion giant. Bitcoin is going mainstream and hitting new heights, though a recent pullback has rattled some bulls. Corporate America has its first $1 trillion compensation…
Imagine, for a moment, America without the Bureau of Labour Statistics (BLS). To some wonks, few scenarios are more terrifying. After President Donald Trump threw a tantrum over weak job figures and sacked the head of the largely apolitical body in August, putting forward EJ Antoni, a partisan figure, to replace her, such a scenario…
Gold (GC=F) futures sat near $4,000 per ounce on Friday, remaining steady after last month’s sharp sell-off but raising questions over where the precious metal is headed next. Gold remains on pace for its best year since 1979, driven by central bank purchasing, increased inflows into exchange-traded funds (ETFs), and bar and coin purchases. But…
Stocks rose on Wall Street Wednesday as more U.S. companies turn in their latest quarterly reports and several economic updates shed some light on the U.S. economy. The S&P 500 rose 0.5%. The Dow Jones Industrial Average rose 62 points, or 0.1%, as of 11:35 a.m. Eastern time. The Nasdaq composite rose 0.8%. The gains…
Private employers added 42,000 jobs to the US economy in October, according to ADP’s private payrolls report, rebounding from an upwardly revised loss of 29,000 jobs in September. Forecasters were expecting the economy to add 30,000 jobs during the month, according to S&P Global Market Intelligence. “Private employers added jobs in October for the first…
Some indicators of mixed breadth emerged in the stock market Monday, with small caps lagging while the Nasdaq composite and the S&P 500 finished higher. The Dow industrials underperformed, with Merck (MRK) and Nike (NKE) among the losing issues. But gains for tech giants Amazon (AMZN) and Nvidia (NVDA) helped keep the blue-chip index from…
Wall Street closed out October on a high. AI optimism, solid earnings, and easier financial conditions lifted stocks to their sixth consecutive month of gains while credit just notched its third straight advance. But as risk assets surged afresh, the Federal Reserve sent a quieter, more complicated signal. Source link
Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week special contributor Larry Summers of Harvard took us through the results of the summit between President Trump and President Xi, and Nobel…
Two federal judges ruled that the Trump administration must use emergency funds to keep SNAP afloat during the shutdown. President Donald Trump visited Asia, striking a trade deal with China. Speculation about a Trump third term heated up again, despite its near impossibility. And judges made consequential rulings regarding federal workers and voter registration.Here are…