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6 Biggest US Banks Ramp Up Buybacks, Undeterred By Stress Tests
2024 Jun 26, 11:37am | 551The six biggest banks in the U.S. have not let this week’s stress tests on capital levels deter them from returning value to shareholders. JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC), Wells Fargo & Company (NYSE:WFM), Citigroup Inc. (NYSE:C), U.S. Bancorp (...
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Nasdaq, S&P 500 Set To Open Higher On Nvidia Prop, FedEx Earnings, But Traders Could Move To Sidelines Ahead Of Key Data: Analyst Says Underweighting Techs 'Contrarian Bet'
2024 Jun 26, 7:36am | 1327Futures trading reflects the same trend seen on Tuesday, with the Nasdaq and S&P 500 futures firming up in early trading, while the Dow futures slipped. Notwithstanding the tech strength, the underlying sentiment is likely to be one of caution ahead of some key market-moving economic catalysts...
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Fed Gov. Cook Calls For Lower Interest Rates 'At Some Point'
2024 Jun 25, 6:32pm | 543Federal Reserve Gov. Lisa Cook is recommending the Fed lower its interest rate, but she has not said when she thinks that should happen. The Fed has kept its federal funds rate at 5.25% to 5.50% since meeting earlier this month as part of its goal to bring the inflation rate down to 2%. It is...
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Large Banks to be Conservative About Shareholder Payouts
2024 Jun 25, 3:32pm | 762The Federal Reserve is slated to announce its annual bank health check results on Jun 26. Also known as the ‘stress test' the results will show how much capital large banks need to withstand any renewed turmoil in the sector. This annual exercise will also dictate how much banks will...
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Chipmakers, Cruise Lines, Crypto Rally, Nvidia Reclaims $3 Trillion; Blue Chips, Small Caps Dip: What's Driving Markets Tuesday?
2024 Jun 25, 1:19pm | 974Tech stocks are poised to break a three-day losing streak on Tuesday, driven by a robust rally in chipmakers, with Nvidia Corp. (NASDAQ:NVDA) rising over 4% and reclaiming its $3-trillion valuation. The VanEck Semiconductor ETF (NASDAQ:SMH) rose 1.8% after dropping over 7% in the last three...
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Fed's Bowman Shocks Traders: 'I Remain Willing To Raise' Interest Rates If Progress On Inflation Stalls
2024 Jun 25, 9:13am | 577Federal Reserve Governor Michelle Bowman stated on Tuesday that it is premature to lower the policy rate, and indicated her readiness to support further rate hikes if inflation worsens. While giving a speech in London, Bowman noted that “we have seen only modest further progress on inflation...
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Nasdaq, S&P 500 Futures Firm Up As Nvidia Poised To Lead Tech Rebound: Expert Says 'A Major Gaffe By One Of The Candidates' In Presidential Debate Could Alter Market Trajectory
2024 Jun 25, 7:34am | 1160The U.S. stocks could be primed for another mixed session on Tuesday, with techs looking poised for a bounce back from the previous session’s losses. Nvidia Corp. (NASDAQ:NVDA) could lead from the front, with the stock climbing over 2% in the premarket. The spotlight is likely to be on a...
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Larry Summers Slams Fed's 'Excessive Optimism' On Inflation And Underestimation Of Long-Term Interest Rates, Says The Central Bank 'Is Badly Wrong…'
2024 Jun 25, 4:41am | 547Former U.S. Treasury Secretary Larry Summers has criticized the Federal Reserve’s optimistic stance on inflation, warning that the central bank is underestimating the long-term interest rates necessary to curb inflation. What Happened: Summers, speaking at an event organized by the Council on...
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Janet Yellen Says 'Inflation To Come Down' To 'Fed's 2% Target' By 2025, Dismisses Possibility Of US Recession
2024 Jun 24, 9:29pm | 694U.S. Treasury Secretary Janet Yellen expressed confidence in the American economy, dismissing the possibility of a recession and predicting that inflation will reach the Federal Reserve’s 2% target by next year. What Happened: Yellen, in an interview on Monday, stated that she does not see...
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Bank Stocks Trend Upward As Fed Shares Possible Changes To Bank-Capital Overhaul
2024 Jun 24, 6:22pm | 536Shares of the largest banks in the U.S. made modest gains on Monday as the Federal Reserve showed other U.S. regulators possible changes to its bank-capital overhaul that would lighten the load on Wall Street lenders, according to sources familiar with the matter. The revisions would walk back key...
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JPMorgan, Others Living Will Plan Chided by Regulators
2024 Jun 24, 3:58pm | 549U.S. banking regulators have detected flaws in strategies that JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) and Goldman Sachs (NYSE: GS) submitted. These outline the companies' plans for winding down in the event of a catastrophic event. The Federal Reserve...
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Morgan Stanley Direct Lending Fund Soars 5.4%: Is Further Upside Left in the Stock?
2024 Jun 24, 1:20pm | 411Morgan Stanley Direct Lending Fund (NYSE: MSDL) shares rallied 5.4% in the last trading session to close at $24.13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3% gain over the past four...
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Market's Higher Neutral Rate Expectations May Challenge Bond ETFs
2024 Jun 24, 12:16pm | 542Markets are expecting the neutral rate — a theoretical rate that remains stable due to full employment and stable inflation — to stay higher than policymakers are forecasting. What does this mean for bond exchange-traded funds? A higher neutral rate may limit the Federal Reserve’s...
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US Bank Stress Tests This Week, Analyst Expects Improvement: 8 Stocks, 3 ETFs To Watch
2024 Jun 24, 12:15pm | 887The U.S. banking sector is bracing for the 2024 stress test results, scheduled to be released Wednesday after the market closes. Bank of America analyst Ebrahim H. Poonawala expects this year’s stress test to show overall improved capital buffers compared to 2023, given the moderately better...
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5 Growth Stocks to Buy for an Imposing Election Year Rally
2024 Jun 24, 11:55am | 829The year 2023 was impressive for Wall Street. Heading into 2024, some bottlenecks, including geopolitical upheavals and stretched valuations, raised doubts about whether the rally will endure. However, major bourses shrugged off all these apprehensions and notched record highs. Dow Jones Market...