China gears up for a big week as markets await U.S. elections and stimulus details

Key Points

Investors expect details on China’s fiscal stimulus plans be come out Friday, after Beijing considers the U.S. presidential election earlier in the week.
“The size of China’s fiscal stimulus package would be around 10~20% bigger under a Trump win than under the scenario of a Harris win,” Ting Lu, chief China economist at Nomura, said in a note.
Liqian Ren, leader of quantitative investment at WisdomTree, expects the scale of Beijing’s stimulus will be determined not by who wins the election, but the stock market reaction.

Source

Finance

CFPB announces rule limiting bank overdraft fees

December 12, 2024

Key Points The Consumer Financial Protection Bureau on Thursday announced the final version of a rule limiting banks’ ability to charge overdraft fees. It says the rule will save American consumers $5 billion annually. The CFPB said that its overdraft rule will take effect Oct. 1, 2025, though its ultimate fate is unclear. Source

Finance

Stocks making the biggest moves midday: Broadcom, GE Vernova, Stitch Fix, GameStop and more

December 11, 2024

Check out the companies making headlines in midday trading: Broadcom — Shares added 5% following a report from The Information that the semiconductor manufacturer was assisting Apple in creating an artificial intelligence chip. Shares of Apple traded less than 1% higher. C3.ai — The enterprise artificial intelligence software company shed 7.2% following a downgrade to […]

Finance

Here’s the inflation breakdown for November 2024 — in one chart

December 11, 2024

Key Points The consumer price index increased 2.7% in November 2024 from a year earlier, according to the Bureau of Labor Statistics. Inflation is not accelerating, but remains persistently too high, economists said. Inflation for groceries, gasoline and new vehicles increased. The good news is underlying trends still appear positive and disinflation is likely to […]