World
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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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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European markets close higher as euro zone inflation rises; tech stocks up 2.6% led by ASML
LONDON — European markets closed higher on Wednesday, maintaining positive momentum after euro zone inflation rose unexpectedly. The Stoxx 600 index preliminarily closed 0.79% higher, with technology stocks jumping 2.62%. Dutch chip firm ASML led the charge, rising as much as 10% before somewhat paring gains after a Reuters report suggested that the company could be exempted […]
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U.S. crude oil jumps more than 3% after Hamas political leader assassinated in Tehran
U.S. crude oil futures jumped more than 3% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran, Iran, renewing fears that the Middle East is teetering on the brink of a regional war. Here are Wednesday’s energy prices: West Texas Intermediate September contract: $77.28 per barrel, up $2.55, or 3.51%. Year to date, […]
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Middle East on knife-edge after killing of Hamas leader in Iran; Israel’s opponents vow retaliation
Hamas Political Bureau Chairman Ismail Haniyeh attending an exclusive interview with Anadolu in Istanbul, Turkiye on April 20, 2024. Anadolu | Anadolu | Getty Images The Middle East is on edge after a dramatic escalation that saw top Hamas leader Ismail Haniyeh killed in a strike in the Iranian capital of Tehran early Wednesday. Iranian […]
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Private payroll growth slowed to 122,000 in July, less than expected, ADP says
A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Private job growth slowed further in July while the pace of wage gains hit a three-year low, payrolls processing firm ADP reported Wednesday. Companies added just 122,000 jobs on […]
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Japan confirms $36.8 billion currency intervention as weak yen pushes BOJ to hike interest rates
New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan’s Institute for Monetary and Economic Studies. The new banknotes will start circulate from July 3, 2024. Sopa Images | Lightrocket | Getty Images Japanese authorities spent 5.53 trillion yen ($36.8 billion) to shore up the yen in July, official […]
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Banks get bullish on the British pound despite the possibility of an imminent snapback
LONDON — With sterling as one of the best performing major currencies so far this year, analysts at various investment banks believe that the British pound still has more room to run, despite the Bank of England likely cutting interest rates in the near term. In a recent research note, experts at Goldman Sachs were […]
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Euro zone inflation rises to 2.6% in July, above expectations
People shopping at the downtown market, Cour Lafayette, in Toulon, on July 27, 2024. Magali Cohen / Hans Lucas | Afp | Getty Images Headline inflation in the euro zone unexpectedly rose to 2.6% in July, the European Union’s statistics agency said Wednesday, even as price growth in the services sector eased slightly. In June, […]
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AMD jumps 9% in premarket trading as global chip stocks rally after earnings and geopolitics lift sector
Shares of global semiconductor firms rallied on Wednesday as they were boosted by some positive earnings in the sector and a report of potentially less severe U.S. export restrictions on China. AMD was among the morning’s big winners with shares up more than 9% in U.S. premarket trading after the company reported a top and […]
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