It’s been a long and bumpy road to the Federal Reserve’s first interest rate cut in more than four years — a moment that could prove decisive to the finances of millions of Americans. On Wednesday, the Fed is expected to reduce its benchmark rate, which currently stands at its highest point in 23 years,…
Wall Street investors are betting the Federal Reserve will more likely opt for a jumbo interest rate cut over a quarter-point cut, according to the latest data. Futures on the Fed funds rate, which measures the cost of unsecured overnight loans between banks, have priced in a 61% chance of a 50 basis-point rate cut by the central bankers Wednesday….
The Dow hit an intraday record high, but technology stocks weighed on the S&P 500 and the Nasdaq on Monday ahead of the Federal Reserve’s pivotal monetary policy decision, due later in the week. In recent trading, the Dow Jones Industrial Average gained 121 points, or 0.3%, to 41,515. The blue-chip index had soared more than 300 points…
Federal Reserve Chair Jerome Powell announces interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin Building in Washington, D.C., on June 12, 2024. Kevin Dietsch | Getty Images A flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves…
Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. If this was forwarded to you, sign up here . This week’s highlights include a dive into what finance chiefs are saying and doing ahead of the Fed’s expected rate cut. Plus, the CFO of China-owned agricultural firm Syngenta…
Wall Street closed out its best week of the year, with interest rates expected to drop after the Federal Reserve meets next week. The three major stock market indexes, which measure how stocks perform, all rose on Friday. The S&P 500 increased 0.5 percent, just 0.7 percent below its record high in July. Meanwhile, the…
To buy or to rent – that has become a big question for locals as well as new arrivals to Hong Kong. Rents are set to shoot past the previous peak in August 2019. Robust demand comes from newly arrived residents, and potential buyers waiting for interest rates to drop are sitting on the sidelines….
Hopes for a big rate cut from the Federal Reserve next week got suddenly revived, sending the Dow near an all-time high. Stock and bond traders ramped up bets on Friday that the Fed could slash interest rates by 50 basis points — or half a percentage point — after the Wall Street Journal reported…
Former New York Federal Reserve President William Dudley said he sees scope for a half-point rate cut at next week’s meeting. “I think there’s a strong case for 50,” Dudley said on Friday at a forum organized by The Bretton Woods Committee in Singapore. Dudley left the New York Fed in 2018 and is now…
Tierney L. Cross / Bloomberg / Getty Images Federal Reserve Chair Jerome Powell, during an Economic Club of Washington event in Washington, DC, on July 15, 2024. Key Takeaways The Federal Reserve is set to cut interest rates at its policy meeting next week, but some economists wonder whether the central bank has waited too…