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Jerome Powell To Testify Before Senate Banking Committee On Monetary Policy Amid Growing Calls For Rate Cuts
2024 Jun 18, 3:19am | 551U.S. Federal Reserve chair Jerome Powell is set to testify before the Senate Banking Committee on Jul. 9. This will be his semiannual testimony on monetary policy and comes at a time when calls for interest rate cuts are growing. What Happened: Powell’s testimony is expected to cover a wide...
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Fed's Harker Advocates For Single Rate Cut In 2024, Cites 'Very Welcome' May CPI Report
2024 Jun 18, 3:00am | 604In a recent statement, Patrick Harker, the President of the Federal Reserve Bank of Philadelphia, suggested that one interest-rate cut in 2024 would be appropriate, based on the current economic forecast. This announcement reinforces the likelihood of sustained high interest rates. What Happened:...
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Adobe, Oracle, Costco and AutoZone are Part of Zacks Earnings Preview
2024 Jun 17, 2:10pm | 1070For Immediate Release Chicago, IL – June 17, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Adobe (NASDAQ: ADBE), Oracle (NYSE: ORCL), Costco (NASDAQ: COST) and AutoZone (NYSE: AZO). Q2 Earnings Season Gets Underway The...
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China's Housing Funk Deepens As Manufacturing Falls Short
2024 Jun 17, 11:23am | 409China’s housing market continued to decline in May as manufacturing disappointed expectations. The real estate sector saw declines in investment and home prices, while industrial output gained 5.6% in May, according to the National Bureau of Statistics, the latter slowing from April and...
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Wall Street Set For Cautious Start After Record Run Last Week: Fed Speeches, Manufacturing Data In Focus, Expert Flags Key Stock Catalyst
2024 Jun 17, 7:35am | 1123U.S. stocks are gearing up for a cautious start following last week’s record run, with the index futures currently showing mixed sentiment. Tech stocks could extend the strength but it remains to be seen if that pervades into the broader market. Market strategists are upbeat about the...
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Mortgage Rates Fall For Second Straight Week In Response to Positive Economic Data
2024 Jun 14, 4:31pm | 379Mortgage rates dropped for a second consecutive week as inflation continued to ease. The average 30-year fixed-rate mortgage was 6.95% for the week ending June 13, according to Freddie Mac‘s (OTC:FMCC) latest Primary Mortgage Market Survey, Fox Business reported. That is down from an average...
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Inflation Cools In May, Fed Hints At Slower Pace Of Rate Cuts, Stocks Hit New Record Highs: This Week In The Market
2024 Jun 14, 4:06pm | 606In a week filled with market anticipation due to the release of May inflation data and the Federal Reserve Open Market Committee meeting on the same day, Wall Street demonstrated remarkable resilience, navigating these pivotal tests with confidence. The S&P 500 and Nasdaq 100 indices both...
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5 Low-Beta Stocks to Buy as Fed Indicates One Rate Cut in 2024
2024 Jun 14, 1:53pm | 966Expectations of multiple interest rate cuts in 2024 had faded long back and now the Federal Reserve has almost assured that it isn't going to happen anymore. On Jun 12, Federal Reserve Chairman Jerome Powell said in the post-FOMC meeting statement that the central bank sees the possibility of...
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US Stocks To End Record-Clinching Week On Subdued Note, GameStop Slides, Adobe Soars: Fed Speeches And More To Watch Heading Into Friday
2024 Jun 14, 7:44am | 1149The market could pause in the final trading session of the week following its record run, facilitated by tamer-than-expected inflation data. The major index futures were moderately lower in early trading. Adobe Inc. (NYSE:ADBE) will likely come to the aid of the tech sector, which has been on a hot...
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S&P 500 Hits 5400 Level: 5 Top-Performing Stocks in ETF
2024 Jun 13, 3:53pm | 849The S&P 500 Index has been on an incredible rally this year, achieving new milestones and gaining 13.6% so far. The index has now crossed the 5,400 level for the first time after hitting the 5,300 threshold last month, underscoring strong confidence. The latest leg of the rally came on cooler-...
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Buy 5 Growth ETFs as Fed Stays Put, Eyes Rate Cut
2024 Jun 13, 1:01pm | 699The Fed opted to maintain its benchmark interest rate within a range of 5.25% to 5.50%, a level it has maintained since July 2023 and has revised its rate cut prediction. While previously predicting three rate cuts for the year, the Fed scaled back its estimate to just one due to sticky inflation....
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Fed Indicates One Rate Cut in 2024: 5 Long-Term Picks
2024 Jun 13, 1:00pm | 1226On Jun 12, in his post-FOMC meeting statement, Fed Chairman Jerome Powell indicated just one cut of 25 basis points in the Fed fund rate in 2024. This is a significant reduction from three rate cuts for 2024, as hinted in the March FOMC meeting. Consequently, the terminal rate of the benchmark...
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Bond ETFs Unfazed By Fed Decision To Keep Rates Steady
2024 Jun 13, 12:41pm | 471The bond market remained stable on Thursday morning after the Federal Reserve kept interest rates unchanged on Wednesday, as bond exchange-traded funds stayed flat in early-morning trading. The Fed kept rates at a 23-year high of between 5.25% and 5.5% on Wednesday as it strives to lower the 3.3%...
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Goldman Sachs Reaffirms September Rate Cut Forecast, Downplays Fed's 'Hawkish Surprise'
2024 Jun 13, 12:26pm | 543Goldman Sachs has reiterated its forecast for two interest rate cuts in 2024, commencing in September, following the Federal Open Market Committee’s (FOMC) June meeting. Despite the Federal Reserve’s June dot plot presenting “a hawkish surprise” with a median projection of...
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Mohamed El-Erian Says Softer Than Expected May Inflation Makes A 'Solid Case' For Rate Cut, Peter Schiff Holds The View Latest Numbers Mean 'Nothing' (CORRECTED)
2024 Jun 13, 11:03am | 922Editor’s Note: A typo in the headline of this article has been corrected. The Federal Reserve, under Jerome Powell, kept interest rates within the 5.25-5.50% range for the seventh consecutive meeting on Wednesday, as widely anticipated by the market. This decision highlights the contrasting...