Month: July 2024
Fed recap: Chair Powell gives the September rate cut signal traders were hoping for
Powell says a potential September rate cut would be apolitical Federal Chair Powell said a rate cut at the September meeting would be unrelated to the upcoming presidential election. He said the central bank would be “absolutely” apolitical if it lowered borrowing costs at the meeting. But the Fed chief also cautioned against assuming that […]
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Trading the Fed decision: These stocks could get the biggest boost from lower rates
Certain stocks should be winners as the Federal Reserve seeks to lower short-term rates, if history is any guide. The Federal Reserve on Wednesday kept rates unchanged, as expected , and noted progress it was making on inflation. Traders are betting the central bank is preparing markets for a rate cut at its next meeting […]
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Healthy Returns: Here’s what GLP-1s are being tested for beyond weight loss, diabetes
Weight loss syringes of the brands “Wegovy”, “Ozempic” and “Mounjaro” are sold at In der Achat Apotheke in Mitte, Germany. Picture Alliance | Picture Alliance | Getty Images Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Good afternoon! The list of potential health benefits from […]
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UAW union endorses Vice President Kamala Harris for president over Trump
U.S. Vice President Kamala Harris speaks during an NCAA championship teams celebration on the South Lawn of the White House in Washington, D.C., on July 22, 2024. Andrew Harnik | Getty Images The United Auto Workers on Wednesday endorsed Vice President Kamala Harris over Republican presidential nominee and former President Donald Trump. The union’s endorsement […]
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Kamala Harris gets support of more than 100 VCs and tech execs in online pledge
U.S. Vice President Kamala Harris speaks at a campaign rally at the Georgia State Convocation Center in Atlanta on July 30, 2024. Elijah Nouvelage | AFP | Getty Images After Donald Trump, the Republican nominee for president, gained the vocal support of a slice of the tech investing world, a large group of venture capitalists […]
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in June. Text removed from the June statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
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Fed holds rates steady and notes progress on inflation
WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit […]
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Nvidia shares soar 11% after Microsoft quells fears that AI buildout is too fast
Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024. David Paul Morris/Bloomberg via Getty Images Nvidia shares popped more than 11% Wednesday after remarks from top customer Microsoft and rival chipmaker AMD signaled no slowdown in the multi-billion […]
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This AI-powered financial advisor has quickly gained $20 billion in assets
AI-generated responses are becoming more common, whether travelers know or not. Westend61 | Getty Images An automated financial advisor called PortfolioPilot has quickly gained $20 billion in assets in a possible preview of how disruptive artificial intelligence could be for the wealth management industry. The service has added more than 22,000 users since its launch […]
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GEHC gives reasons to look beyond temporary China woes and shares reverse higher
GE Healthcare on Wednesday morning reported a mixed second quarter and shares initially moved sharply lower. The stock then reversed higher as the post-earnings call got underway. Management made it clear that they think that weakness in China is temporary and see many other levers available to grow earnings. Revenue advanced less than 1% year over […]
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