Category: Financial News

June 6, 2024
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Nvidia led global companies in market cap gains in May, buoyed by a stunning rally as its bumper revenue forecast reinforced investor confidence in the AI-driven surge in chip demand. Nvidia’s market cap soared to $2.69 trillion at the end...

May 28, 2024
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Home-price growth in 20 major US cities picked up pace in March, pressuring buyers as the key selling season kicks into gear. Prices in a measure of 20 cities increased 7.4% from a year earlier, larger than the 7.3% annual...

May 21, 2024
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The United States has long had the world’s biggest defense budget, with spending this year set to approach $900 billion. Yet this spending is rapidly being eclipsed by the fastest-growing portion of federal outflows: interest payments on the national debt....

May 14, 2024
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Producer price index data out Tuesday showed that inflation ran hotter in April, but downward revisions to earlier data assuaged concerns. Meanwhile, health care prices, the biggest input to the Federal Reserve’s primary core inflation rate, moderated a bit as...

May 9, 2024
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Minneapolis Fed president Neel Kashkari said Tuesday that he believes interest rates will likely need to be held at current levels for an “extended period” and didn’t rule out a hike if inflation stalls near 3%. “I think it’s much...

May 7, 2024
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US consumer borrowing rose in March by the smallest amount this year as Americans relied less on credit cards. Total credit increased $6.3 billion after an upwardly revised $15 billion gain in February, according to Federal Reserve data released Tuesday....

April 23, 2024
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The bid for Treasuries that swept through markets ahead of the weekend is unwinding amid hopes the conflict between Iran and Israel will now calm, with attention returning to the inflationary forces dogging the world economy. The yield on 10-year...

April 11, 2024
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Another hotter-than-expected inflation reading is fueling investor fears that the Federal Reserve will have to push back the number and timing of interest rate cuts this year. The Consumer Price Index (CPI) rose 3.5% over the prior year in March,...

April 4, 2024
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Stocks and bonds dropped around the globe as solid economic readings and a rally in commodities spurred speculation that major central banks will keep interest rates higher for longer. In a revival of the “good news is bad news” trade,...

March 28, 2024
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Ratings agency S&P Global on Tuesday downgraded its outlooks for five regional U.S. banks to due to their commercial real estate (CRE) exposures, in a move likely to reignite investor concerns about the health of the sector. The ratings agency...

March 26, 2024
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The stock market is at odds with what is going on in the economy, top economist David Rosenberg says. The latest market frenzy has shades of July 2007, when stocks were caught in a swift decline  just three months later,...

March 12, 2024
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Inflation pressures remained persistent in February, as prices for shelter and gas rose, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) showed prices rose 0.4% over the previous month...

March 5, 2024
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The S&P 500 closed slightly lower on Monday after a choppy trading day as investors took a pause ahead of economic data and Fed Chair Jerome Powell’s congressional testimony. Apple closed down 2.5% following a $2-billion EU antitrust fine for...

February 27, 2024
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Pandemic disruptions may have muddled the measurement of home prices in inflation data. That could complicate the Fed’s course on interest rates. The Federal Reserve may have a housing problem. At the very least, it has a housing riddle. Overall...

February 22, 2024
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The U.S. Federal Reserve will cut the federal funds rate in June, according to a slim majority of economists polled by Reuters, who also said the greater risk was the first rate cut would come later than forecast rather than...