U.S. stock markets will be closed on Monday, Jan. 20, in observance of the Martin Luther King Jr. Day holiday. President Ronald Reagan signed the King Holiday Bill into law on Nov. 2, 1983, thus designating the third Monday in January a federal holiday in observance of civil rights leader Dr. Martin Luther King, Jr,…
A benign December inflation report was all it took to ignite another strong rally on Wall Street, with major indices delivering their best weekly performance since the postelection surge in early November. Heading into the week, markets were gripped by concerns over inflation and interest rates, pricing in just one interest rate cut by year-end…
Wall Street opened in the green ahead of Donald Trump’s return to the White House on Monday. President-elect Trump’s inauguration is Monday, and his first days are expected to be filled with a flurry of executive orders on day one. “Reports suggest 100 or more,” wrote Morgan Stanley analysts in a report. Any signals of…
U.S. stocks dipped in early trading, taking a breather after the major stock indexes posted the largest daily percentage gain since Nov. 6 since Nov. 6 on Wednesday, amid cooling inflation and strong bank earnings. Investors mostly shrugged off a weaker-than-expected gain in December retail sales and a higher-than-expected jump in weekly unemployment claims. The…
U.S. crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and it bought more barrels from other countries including Russia and Iran. Exports of U.S. oil to China plunged to 81.9 million barrels over the course of the year, down 46% from 150.6 million barrels…
Wall Street clawed back some of Wednesday’s steep losses after the Federal Reserve pulled back its forecast for rate cuts next year. The Fed lowered its benchmark, short-term fed funds rate late Wednesday by a quarter percentage point, as expected, but pared back its forecast for rate cuts next year. It only expects to cut…
NEW YORK, Dec 19 (Reuters) – Wall Street rebounded and U.S. Treasury yields resumed their climb early Thursday as stocks recovered from their steep dive in the wake of the Federal Reserve’s hawkish outlook. The dollar gave back some of Wednesday’s gains and gold rallied as investors grew accustomed to the reality that the central…
The stock market swooned Wednesday in response to a piece of news that might not seem all that dire on first read: The Federal Reserve could cut interest rates fewer times than experts had predicted, in 2025. The Dow Jones Industrial Average shed 2.6%, or 1,123 points, closing at 42,327. The S&P 500 lost nearly…
Another day, another rally by mega tech stocks. Shares of iPhone maker Apple, Google-parent Alphabet, electric car maker Tesla and AI-chipmaker Broadcom all rallied to new all-time highs, which helped power the tech-heavy Nasdaq to its own record peak. The Nasdaq closed up 1.24%, or 247.17 points, at a record 20,173.89. The broad S&P 500 index ended up 0.38%,…
Despite stubbornly high inflation recently and a sturdy economy and job market, the Federal Reserve is expected to cut interest rates this week for the third straight meeting. What gives? Some economists say Fed officials could be making a blunder that risks reigniting inflation and undercutting their pledge to rely on the latest data when…