By Mike Dolan -What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Markets have already effectively priced in the U.S. government’s reopening on Monday, with today’s House vote to restore funding through January seen as a formality. Attention has now turned more to tech sector wobbles and the deluge…
The Federal Reserve cut interest rates by a quarter percentage point Wednesday for the second meeting in a row, even as the government shutdown has left policymakers without key data to guide monetary policy. The central bank voted in a split decision to cut its benchmark interest rate to a range of 3.75% to 4.00%….
Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER”…
Americans just keep spending. Retail sales in August rose 0.6% from the prior month, more than the 0.2% expected and the latest sign that US consumers continue to be resilient in the face of a labor market that has shown some signs of stress. Excluding spending on cars and gas, sales rose 0.7% last month….
US stock futures climbed on Tuesday after the Senate confirmed President Trump’s pick, Stephen Miran, as a Federal Reserve board governor, following another record-setting day on Wall Street. Futures attached to the Dow Jones Industrial Average (YM=F) rose just above the flatline, the benchmark S&P 500 (ES=F) edged higher 0.2%, and the tech-heavy Nasdaq 100…
Stephen Miran pledged to lawmakers Thursday that he will act independently if he were confirmed as a new governor on the Federal Reserve Board, but he won’t step down from his current White House post. He said that he was counseled to take a leave of absence as chair of the Council of Economic Advisers…
By Mike Dolan LONDON (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Ailing long-dated sovereign bonds around the world caught a break yesterday on a mix of soft U.S. jobs signals, decent auction buying and ebbing oil prices. The bond bounce and Federal Reserve easing speculation…
WASHINGTON (AP) — President Donald Trump’s attempt to fire a member of the Federal Reserve’s governing board has raised alarms among economists and legal experts who see it as the biggest threat to the central bank’s independence in decades. The consequences could impact most Americans’ everyday lives: Economists worry that if Trump gets what he…
SoundHound AI (SOUN) reported record revenue in its second quarter results, as its expansion into new verticals, such as restaurants and hospitals, helped fuel 217% year-over-year revenue growth. The stock rocketed 2% higher in premarket trading on Friday. SoundHound develops artificial intelligence solutions that businesses use for automation and to create conversational experiences for their…
WASHINGTON (AP) — In the past week, President Donald Trump has managed to make his erratic trade policies even more baffling to countries desperate to negotiate an escape from his wrath. Doubling down on his trade wars, Trump is threatening to raise taxes on many goods from Canada, hike his universal tariff on imports from…