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Gold Prices Set To Climb To $3,000 On Fed Rate Cuts, Geopolitical Tensions, Bank of America Says
2024 Jun 24, 9:28am | 780Gold prices could skyrocket to $3,000 per ounce within the next 12 to 18 months, according to Bank of America’s latest analysis. Michael Widmer, a commodity strategist at the bank, suggests that a combination of factors — increasing investment demand, geopolitical tensions, Federal Reserve...
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Nasdaq Futures Slip As Nvidia Sell-Off Continues, S&P 500 Futures Hold Up: Analyst Says 'Valuations Will Go Parabolic And It Will Be A Perfect Time To Sell'
2024 Jun 24, 7:33am | 1260The U.S. market is on track to open Monday’s session on a firmer note after retreating from its record high in the final two sessions of last week. Potential clues on the near-term rate outlook from Federal Reserve officials’ speeches could potentially move stocks. The tech rally will...
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In The Event Of Failure, 4 Major Banks Have 'Shortcomings': FDIC
2024 Jun 21, 4:17pm | 581Bank regulators have uncovered faults in living wills provided by major U.S. banks: Bank of America Corp. (NYSE:BAC), Citigroup. (NYSE:C), The Goldman Sachs Group, Inc. (NYSE:GS) and JPMorgan Chase (NYSE:JPM). What Happened: The Federal Deposit Insurance Corporation and the Federal Reserve Board...
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3 Utility Stocks to Buy With Rate Cuts on the Horizon
2024 Jun 21, 12:21pm | 652Demand for defensive stocks is not affected much when markets are volatile because of the very nature of the stocks. Even during the 2008 financial crisis, they had not faltered. Utility stocks are examples of such defensive instruments that protect investments when the goings are not good....
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US Private Sector Activity Exceeds Estimates, Fastest Growth In 2 Years – Will The Fed Welcome The Data?
2024 Jun 21, 10:33am | 561The latest surveys by S&P Global reveal an American economy firing on all cylinders in June, with robust activity and cooling inflation creating a goldilocks environment, giving the Fed more leeway to cut interest rates. S&P Global Purchasing Managers’ Indices (PMIs) For June: Key...
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Bank Of America Predicts First Rate Cut In December: 'Higher-For-Longer Flavor'
2024 Jun 21, 10:25am | 687Bank of America’s latest economic outlook for the U.S. paints a complex picture of steady but gradually fading economic growth, persistent inflation and a delayed start to the Federal Reserve’s rate cuts. The bank’s economist, Michael Gapen, emphasizes a “higher-for-longer...
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Wall Street Looks Set For Modestly Lower Start Ahead Of Key Data, Tech Stocks Muted In Premarket: Analyst Says 'Bearish Sentiment Has Become Understandably Quiet'
2024 Jun 21, 7:25am | 1235Wall Street is on track for a lackluster open after the S&P 500’s back-to-back record performances in the first two sessions of the week. The major index futures were all uniformly lower in early trading. Given the wall of worry over growth, traders are expected to closely watch data on...
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Here's What You Need to Know About Tech ETF XLK's Shake-Up
2024 Jun 20, 4:04pm | 619The Technology Select Sector SPDR Fund (ARCA:XLK), the second-largest ETF in the sector, is poised for a big rebalance this week. This shake-up will increase the exposure to NVIDIA Corp. (NASDAQ: NVDA) at the expense of Apple Inc. (NASDAQ: AAPL). A Major Shift The change comes as NVIDIA has been on...
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Interest Rate Decisions: Bank Of England Holds Firm, Swiss National Bank Reduces Further — Will Fed Cut In September?
2024 Jun 20, 11:29am | 554UK-related exchange-traded funds ticked up in Thursday’s early-morning trading as the Bank of England decided to keep rates steady, while the Swiss National Bank cut its key rate. iShares MSC United Kingdom ETF (NYSE:EWU) edged up 0.66% by mid-morning trading on Thursday, while Franklin FTSE...
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Wall Street On Track To Resume Meteoric Climb, Nvidia Builds On Gains: Analyst Says 'Now Until Later In The Month Is…Seasonally Worst Times'
2024 Jun 20, 7:25am | 1457U.S. stocks will likely carry over from where they left off as the market reopens after the Juneteenth holiday on Thursday. The major index futures were all uniformly higher, underpinned by the continued buoyancy in the tech space. The sector’s accelerated runup, though, has caused concerns...
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Jerome Powell 'Playing With Fire,' Says Recession Rule Creator Claudia Sahm About Fed's Inaction On Interest Rate Cuts: 'I'm Not Sure What They're Waiting For'
2024 Jun 18, 10:38pm | 677Economist Claudia Sahm cautioned that the Federal Reserve’s reluctance to cut interest rates could potentially push the economy into a recession. What Happened: Sahm, the economist behind the “Sahm Rule,” which predicts recessions based on unemployment rates, is concerned about...
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Fed Members Cool On Raising Interest Rates: 'These Conditions Could Take Months, And More Likely Quarters To Play Out'
2024 Jun 18, 6:10pm | 1624Members of the Federal Reserve have indicated that they are in no rush to raise interest rates in speeches given on Tuesday. “We’re Clearly On The Backside Of Inflation“ Federal Reserve Bank of Richmond President Thomas Barkin said he needs to see more progress in getting...
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Fed Will Cut Interest Rates — But When? Most Investors Agree It Won't Be July, Bank Of America Says
2024 Jun 18, 12:20pm | 460According to Bank of America‘s monthly global fund manager survey, investors are confident the Federal Reserve will lower interest rates at least twice in the next year. What Happened: Here’s a breakdown of the findings, per Barron’s: 84% of investors anticipate a rate cut...
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Wall Street Looks Jaded After Record Run As Traders Shift Focus To Retail Sales Data, Fed Speeches: 'FOMO Still Rules The Market For AI-Related Stocks,' Says Analyst
2024 Jun 18, 7:30am | 1559Tech optimism hasn’t worn out yet, with the Nasdaq futures pointing to a strong start for these stocks, while the Dow and S&P 500 futures were modestly lower. Sentiment going into the session will largely hinge on the retail sales report that is due ahead of the market open and a slew of...
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El-Erian Warns Of Economic Risks Without Prompt Fed Rate Cuts: 'What Really Matters Is Where They Finish'
2024 Jun 18, 4:51am | 572Mohamed El-Erian, the chief economic adviser at Allianz, has urged the Federal Reserve to initiate interest rate cuts to prevent potential economic instability. What Happened: El-Erian, in an opinion piece for the Financial Times, emphasized the need for the Fed to act swiftly in reducing interest...