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Fed Meeting Preview: Economists Predict Steady Rates In June, Fewer Cuts Ahead
2024 Jun 10, 10:43am | 969The Federal Reserve is poised to keep the federal funds rate at 5.25%-5.5% for the seventh consecutive meeting in June, likely emphasizing that more time is needed to be confident that inflation will hit its target before contemplating any rate cuts. The key focus for market participants will be on...
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Wall Street Set To Open Week In The Red On Fed Jitters, Inflation Data Anxiety: GameStop Rebounds, Nvidia Trades After Stock Split
2024 Jun 10, 7:28am | 1247U.S. stocks are poised to start Monday’s session in the red as traders brace for the all-important decision from the Federal Reserve’s monetary policy committee on Wednesday and the May inflation report ahead of the rate decision. Although the futures market has factored in a Fed pause...
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Stocks Hit Record Highs, Central Banks Cut Rates, Tight US Jobs Report Dampens Fed Easing Hopes: This Week In The Market
2024 Jun 07, 4:25pm | 738The stock market extended its bull market rally for another week, with fresh record highs for both the S&P 500 and the tech-heavy Nasdaq 100 indices. The tech sector – particularly the chipmaker industry, as tracked by the iShares Semiconductor ETF (NYSE:SOXX), led broader market gains, driven...
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6 Regional Banks' Ratings on Review for Downgrade by Moody's
2024 Jun 07, 3:40pm | 540Commercial real estate ("CRE") continues to be an area of concern amid the high-interest-rate environment. Because of their significant exposure to CRE loans, the long-term ratings of at least six regional banks in the United States have been placed under review for downgrade by Moody...
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Stocks Reclaim Record Highs As Jobs Data Fuels Growth Optimism; Gold, Bonds Tumble As Yields Rise: What's Driving Markets Friday?
2024 Jun 07, 1:54pm | 846Wall Street returned to reclaim record highs on Friday after a stronger-than-expected jobs report. In May, the increase in non-farm payrolls rose by 272,000 units, a jump from 165,000 and significantly higher than the economists’ consensus of 180,000. Hourly wages also surprised on the upside...
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Blowout May Jobs Data 'Closes The Door On A July Rate Cut': 6 Economists Make Best Guesses On Fed's Next Move
2024 Jun 07, 11:45am | 900The U.S. labor market showcased its resilience in May, with nonfarm payrolls surging by 272,000, far surpassing the anticipated 180,000. The upper range among economist predictions, as compiled by Econoday, was 225,000, so even the most optimistic forecasters had not anticipated the booming...
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Wall Street Reacts To Hot Jobs Report: Stocks Swing As Traders Abandon July Rate Cut Hopes
2024 Jun 07, 10:50am | 792The May labor market report delivered hotter-than-expected numbers in terms of job gains and wage growth. Last month, U.S. employers added 272,000 nonfarm payrolls, a sharp increase from April’s 165,000 and well above the expected 180,000. Average hourly earnings witnessed a 4.1% year-on-year...
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Nasdaq, S&P 500 Futures Teeter As Markets Brace For May Jobs Data Amid GameStop Frenzy: Why This Analyst Sees Bright Spot In Near Future
2024 Jun 07, 7:48am | 1132U.S. stocks are priming for a narrowly mixed start ahead of the all-important non-farm payrolls data, an important piece of economic evidence the Federal Open Market Committee would consider while deliberating on the Fed funds rate next week. The May consumer price inflation report is due only...
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Will Bitcoin ETFs Soar on Sooner-Than-Expected Fed Rate Cut?
2024 Jun 06, 3:50pm | 441Bitcoin (CRYPTO: BTC) surpassed the $71,000 mark, indicating increased market confidence in potential Federal Reserve interest rate cuts. This streak of daily increases is the longest in three months, just 4% below its all-time high of $73,798 set in mid-March, per Bloomberg. Investors should...
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Stocks Pause As Traders Await Jobs Data, Nvidia Falls On Antitrust Investigation, Crude Rises To $75: What's Driving Markets Thursday?
2024 Jun 06, 2:08pm | 931Wall Street experienced a relatively quiet day on Thursday, with major indices trading within tight ranges as investors remain cautious ahead of the highly anticipated May jobs report, set for release Friday. After driving the broader stock market to record highs on Wednesday, chipmakers saw a...
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Central Banks Are Cutting Interest Rates: Will The Fed Be The Next To Move?
2024 Jun 06, 11:58am | 690The two interest rate cuts delivered this week by the Bank of Canada (BoC) and the European Central Bank (ECB) likely marked the beginning of a phase of policy easing among major central banks. On Wednesday, the BoC reduced its policy rate by 25 basis points to 4.75%, citing that “monetary...
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Economist Mohamad El-Erian Says Fed 'Traumatized' By Big Mistake It Made In 2021, Calls For Rate Cut In July
2024 Jun 06, 8:25am | 623With the Bank of Canada and the European Central Bank becoming the first two G7 central banks to go ahead with rate cuts, traders’ eyes are now firmly on the U.S. Federal Reserve. According to economist Mohmad El-Erian, it is only right that the U.S. central bank starts cutting rates sooner...
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US Stock Futures Tread Water As Indices Perch At Record Highs: Amid Nvidia Spike And ECB Rate-Cut Hopes, Analyst Sees More Volatility In Summer
2024 Jun 06, 7:24am | 1360Early indications from the futures market suggest caution after Wednesday’s exhilarating run. Earnings news continues to be positive, reinforcing the strength in corporate profit growth. The rate-cut premise based on which the market has been rallying could be put to the test with a couple of...
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Are More Americans Looking For A Job? Here's What The Next Employment Report Might Show
2024 Jun 05, 12:50pm | 685Are more people looking for a job or is the U.S. labor market continuing to show continued tightness? Investors eagerly awaiting an update on the U.S. labor market will get more insight on Friday when the Bureau of Labor Statistics releases the employment situation report for May. Recent labor...
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Services Sector Activity Strongly Expands In May: 'Notable Higher Business Activity, Faster New Orders Growth'
2024 Jun 05, 10:30am | 567The sentiment in the U.S. service sector sharply expanded in May, far more than expected and reversing the decline that began in April. What Happened: After 15 straight months of expansion, business morale gauging the services sector activity temporarily entered into contraction in April, but...