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…
U.S. stocks ended lower on Thursday, with tech stocks leading the decline as investors digested a batch of earnings from big tech companies and weighed Federal Reserve Chairman Jerome Powell’s hawkish comments from the previous day. All three major indexes ended in negative territory. The Dow Jones Industrial Average (DJI) declined 0.2% or 109.88 points…
Key stock indices on Wall Street were mixed on Thursday after mixed financial reports from major technology firms and comments from Federal Reserve Chair Jerome Powell raised doubts about further interest rate cuts this year. On Wednesday, the Federal Reserve lowered interest rates by 25 basis points but Chair Jerome Powell signaled a subtle shift…
The longer the government shutdown drags on, the more people will feel its impacts—especially when it comes to healthcare and food assistance. Open Enrollment begins for Affordable Care Act Marketplace plans on Saturday, and the enhanced premium tax credits that subsidized health care costs for millions of Americans are set to expire at the end…
The Federal Reserve on Wednesday lowered its benchmark interest rate by 0.25 percentage points, marking its second consecutive rate cut this year as the U.S. economy contends with a sharp slowdown in hiring. The Fed cut lowers the federal funds rate — what banks charge each other for short-term loans — to between 3.75% and…
US stock futures are narrowly mixed this morning as investors brace for a widely anticipated interest rate cut from the Federal Reserve. Attention is turning to what Chair Jerome Powell signals about the path ahead. Uncertainty around delayed economic data and stubbornly steady Treasury yields is keeping the mood cautious, prompting many investors to weigh…
US stock futures made gains Wednesday morning, as investors braced for the Federal Reserve’s policy decision following another record-setting session on Wall Street. Futures attached to the Dow Jones Industrial Average (YM=F) slipped 0.1% while contracts tied to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) gained 0.2% and 0.3% respectively. The…
US stock futures held steady Tuesday night, as investors braced for the Federal Reserve’s policy decision following another record-setting session on Wall Street. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) all traded sideways. The muted moves follow a strong session that pushed…
US stocks jumped to new record highs on Tuesday as investors fielded the latest rush of earnings and looked to the Federal Reserve meeting to confirm interest rate cuts are on the way. The Dow Jones Industrial Average (^DJI) rose 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) moved up around 0.8%, leading the way higher….