Month: September 2024
These are the stocks that do best immediately after the first Fed rate cut of a cycle
The Federal Reserve just cut rates by a half point. CNBC Pro took a look at what stocks historically do best immediately after the start of an easing cycle. The Fed’s decision to cut interest rates has the potential to bolster several individual names, if history is any indication. CNBC Pro searched for the stocks […]
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Fed slashes interest rates by a half-point, an aggressive start to its first easing campaign in four years
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market […]
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Biotech stocks are an unappreciated way to profit from lower rates, Goldman says
As investors await the Federal Reserve rate decision Wednesday afternoon, Goldman Sachs highlighted to clients an overlooked group of stocks poised to benefit from the move. Biotechnology stocks offer an under-the-radar and unappreciated way to profit from the central bank’s looming campaign to start cutting the cost of borrowing, according to Goldman Sachs. “For those […]
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Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria’s Secret and more
Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. United States Steel — The U.S. steel producer saw shares jump more than 2% after news that a U.S. security panel has reportedly granted Nippon […]
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111 Republican former officials endorse Harris, say Trump is ‘unfit to serve’
Democratic presidential candidate Vice President Kamala Harris speaks at a campaign rally at the Bojangles Coliseum in Charlotte, North Carolina, on Sept. 12, 2024. Jim Watson | AFP | Getty Images More than 100 Republican former lawmakers and officials endorsed Democratic presidential nominee Vice President Kamala Harris in a letter, while warning that their own […]
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Fed meeting live updates: Fed set to cut rates — but market reaction may depend on size of move
Here’s where consumer rates stand as markets anticipate a cut from the Fed The Federal Reserve is expected to make its first cut to interest rates on Wednesday after more than two years of tight monetary policy. The central bank’s target rate range currently sits at 5.25% to 5.5%. Higher rates have been tough on […]
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Boeing starts furloughing tens of thousands of employees amid machinist strike
Workers with picket signs outside the Boeing Co. manufacturing facility during a strike in Everett, Washington, US, on Friday, Sept. 13, 2024. M. Scott Brauer | Bloomberg | Getty Images Boeing will furlough a “large number” of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, […]
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Republican House speaker floats deregulation, tax cuts — not tariffs — to pay for Trump proposals
Republican House Speaker Mike Johnson on Wednesday said former President Donald Trump could pay for his presidential campaign’s economic proposals by rolling back corporate regulation and expanding tax cuts to stimulate growth. “You have to bring about a pro-growth economy, and you do that with a combination of aggressive use of the tax code and […]
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ESPN’s Adrian Wojnarowski will retire from the company to take a job in college basketball
Adrian Wojnarowski looks on before the game on June 7, 2023 at Kaseya Center in Miami, Florida. David L. Nemec | National Basketball Association | Getty Images ESPN‘s star NBA insider Adrian Wojnarowski is retiring from the company, according to a post from his X account Wednesday morning. The longtime sports reporter will take a […]
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University of Tennessee to raise season ticket prices 10% in anticipation of revenue sharing
Nico Iamaleava #8 of the Tennessee Volunteers warms up prior to the Duke’s Mayo Classic against the NC State Wolfpack at Bank of America Stadium on September 07, 2024 in Charlotte, North Carolina. Jared C. Tilton | Getty Images The University of Tennessee is raising its season ticket prices by 10% across all its sports […]
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