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Prominent Economist Paul Krugman Says 'Inflation Beaten,' Underlines This As Reason For Sticky Pricing Pressure
2024 Jun 30, 1:06pm | 649Paul Krugman, an authority in economics and Noble Prize winner, commented on Friday’s inflation data that showed a further easing in pricing pressure, prompting an increase in the odds of rate cuts. Inflation War Won? “Inflation looks beaten,” said Krugman in a post on X, formerly...
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US Banks Bump Up Dividends Following Fed's Successful Stress Test
2024 Jun 29, 12:11pm | 605Several prominent U.S. banks have declared their intentions to raise their dividends for Q3, following their successful performance in the Federal Reserve’s annual stress test. What Happened: U.S. banks such as JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), and Citigroup...
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Wall Street Falters Despite Drops In Fed's Favorite Inflation Rate; Energy Stocks, Yields Rise On Trump's Debate Performance: What's Driving Markets Friday?
2024 Jun 28, 1:31pm | 851Wall Street experienced a lackluster session during midday trading in New York, with major indices inching slightly lower despite the arrival of positive inflation data. In May 2024, the Personal Consumption Expenditure (PCE) price index, the Federal Reserve’s key measure of inflation, fell...
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Economists Endorse September Fed Rate Cut As Inflation Falls To March 2021 Level: 'The Policy Mistake Has Already Been Made'
2024 Jun 28, 11:46am | 763Economists have broadly welcomed the latest key piece of inflation data, with the Personal Consumption Expenditure (PCE) price index — commonly referred to as the Fed’s favorite measure of inflation — dropping to a 2.6% year-on-year rate in May 2024, its lowest level since March 2021. This...
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Inflation Data Shows Fed Policy Is 'Working', Daly Says
2024 Jun 28, 11:45am | 342The latest inflation data shows that it’s still too premature to know when it will be the right time for the Federal Reserve to lower interest rates. Federal Reserve Bank of San Francisco President Mary Daly spoke to CNBC on Friday soon after the Commerce Department released its latest update...
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5 Stocks to Buy on a Steady Rebound in Manufacturing Activity
2024 Jun 28, 11:33am | 865The U.S. manufacturing sector is finally showing signs of recovery after months of struggle that saw demand slowing due to inflationary pressures and higher borrowing costs. However, with inflation finally showing signs of cooling, demand is rebounding. The U.S. Census Bureau reported that orders...
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US Stocks Set To Finish Q2 On Upbeat Note But Will Inflation Play Spoilsport? Analyst Says Seasonality Data Supports Buying Potential Dips
2024 Jun 28, 7:30am | 1284The major index futures pointed up on Friday, potentially reacting to the outcome of the first presidential debate between the two presumptive 2024 candidates. Most experts view a victory for former President Donald Trump as a positive for the market, given his inclination toward deregulation and...
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Last Inflation Report Pushed Markets To Record Highs In June: Could It Happen Again Friday? 5 ETFs To Watch
2024 Jun 27, 4:53pm | 830The inflation report that’s closely watched by the Federal Reserve — the Personal Consumption Expenditure price index — was published on May 31 for April data and sparked a fresh market rally in June, pushing major indexes to their all-time highs. As traders brace for Friday’s PCE price...
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Fed Stress Test 2024: Large Banks Face Greater Losses But Maintain Strong Capital Positions In Severe Recession Scenario (CORRECTED)
2024 Jun 27, 3:53pm | 819Editor’s note: This story erroneously included stock information for Citizens Inc. rather than Citizens Financial Group Inc, which is the company mentioned in the Federal Reserve’s stress test report, and has been corrected. The Federal Reserve Board’s annual bank stress test...
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Bank of America Analyst Highlights Fed Stress Test Opacity, Varying Bank Impacts: 'Goldman Sachs Worst Hit, Huntington Best'
2024 Jun 27, 12:44pm | 763The latest Federal Reserve stress test results have highlighted “the inherent opacity” of the Fed evaluation process, according to Bank of America analyst Ebrahim H. Poonawala. The tests, which assess the resilience of banks under severe economic scenarios, revealed a wide range of...
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Fed's 2024 Stress Test Results Worse Than Expected, Says Goldman Analyst: 'The Market Will View The Results As Disappointing'
2024 Jun 27, 9:42am | 673The largest American banks were less than thrilled with the outcomes of the Federal Reserve’s 2024 Stress Tests, designed to measure the resilience of financial institutions’ capital in the event of a deep recession. Although the 2024 Stress Tests confirmed that all 31 banks analyzed...
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Wall Street Set For Weak Opening As Tech Rally Falters With Micron, Nvidia Edging Lower: Analyst Says Narrow Market Performance To Persists Unless One Of These Materializes
2024 Jun 27, 7:31am | 1334The two-day rally the broader market witnessed could stall, as traders choose to remain cautious ahead of a string of economic catalysts. The negative reaction to Micron Technology, Inc.‘s (NASDAQ:MU) earnings could generate weakness in the tech space. AI stalwart Nvidia Corp.’s (NASDAQ...
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Fed's Preferred Inflation Gauge Set To Drop To 38-Month Low: 'This Could Provide The Impetus For Another Rally To Fresh Highs'
2024 Jun 26, 4:53pm | 592Traders are preparing for the release of the Personal Consumption Expenditure (PCE) price index data, widely regarded as the Federal Reserve’s preferred inflation measure, scheduled for Friday. The Bureau of Economic Analysis will release this key inflation indicator alongside data on...
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Wall Street Wavers, Nvidia Resumes Losses, Tesla Eyes 4-Month High Close, Amazon Hits $2 Trillion Value: What's Driving Markets Wednesday?
2024 Jun 26, 2:14pm | 989Wall Street experienced a mixed session on Wednesday, as investors adopted a cautious stance following Tuesday’s gains while awaiting key economic data releases later this week, including the Fed’s preferred inflation report due on Friday. At noon in New York, major U.S. averages traded...
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Bond Traders Expect Much Deeper Interest Rate Cuts Than Projected
2024 Jun 26, 2:07pm | 354Bond traders predict that the Federal Reserve‘s interest-rate cuts will go well beyond what the agency has forecast for the next nine months. Traders in the U.S. rates options market expect a much higher 3 percentage points worth of cuts by March. This dwarfs the Fed’s recent...