Breaking News: Economy
Russian central bank surprises markets by holding key rate at 21%
MOSCOW, Russia: The Russian central bank has cut its key interest rate by 300 basis points for a third time since its emergency hike in late February, citing cooling inflation and a recovery in the ruble. KIRILL Kudryavtsev | AFP | Getty Images Russia’s central bank on Friday unexpectedly left its key interest rates unchanged […]
Read More
Stocks making the biggest moves after hours: FedEx, Nike, U.S. Steel and more
Check out the companies making headlines in after-hours trading. FedEx – Shares rose 8% following the delivery giant’s better-than-expected earnings. For its fiscal second quarter, FedEx reported adjusted earnings of $4.05 per share, above the $3.90 per share that analysts surveyed by LSEG were expecting. Revenue, however, came in weaker-than-expected. The company also announced that […]
Read More
Trump endorses House GOP deal to avert government shutdown, suspend debt ceiling
WASHINGTON — President-elect Donald Trump endorsed a House Republican deal Thursday to fund the government for three months and avert a shutdown that would have begun late Friday night. “SUCCESS in Washington!” Trump posted Thursday afternoon, as negotiations ended in House Speaker Mike Johnson’s offices in the Capitol. “The newly agreed to American Relief Act […]
Read More
Stocks making the biggest moves midday: Darden Restaurants, Micron Technology, Lamb Weston, Hims & Hers and more
Check out the companies making headlines in midday trading. Hims & Hers — Shares of the telehealth startup shares lost more than 10% after the U.S. Food and Drugs Administration said the active ingredient in Eli Lilly’s Mounjaro and weight loss drug Zepbound is no longer in shortage . Hims & Hers gives access to […]
Read More
The Fed’s rate outlook has rattled markets. Here’s what it means for global central banks
U.S. Federal Reserve Chair Jerome Powell speaks during a press conference where he announced the Fed had cut interest rates by a quarter point following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., Dec. 18, 2024. Kevin Lamarque | Reuters The U.S. Federal Reserve roiled markets Wednesday […]
Read More
New Zealand sinks into recession, more rate cuts coming
Buildings in Auckland, New Zealand, on Tuesday, Sept. 13, 2022. Photographer: Fiona Goodall/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images New Zealand’s economy sank into recession in the third quarter as activity dived far more sharply than expected and output in the prior quarter was slashed, a dire result that cements the case for […]
Read More
Fed cuts by a quarter point, indicates fewer reductions ahead
WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional reductions in coming years. In a move widely anticipated by markets, the Federal Open Market Committee cut its overnight borrowing rate to a target […]
Read More
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 November. Text removed from the November 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 […]
Read More
The Fed has a big interest rate decision coming Wednesday. Here’s what to expect
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C. Andrew Caballero-Reynolds | AFP | Getty Images Inflation is stubbornly above target, the economy is growing at about a 3% pace and the […]
Read More
Stocks making the biggest moves midday: Pfizer, Broadcom, Teva Pharmaceuticals and more
Check out the companies making headlines in midday trading: Teva Pharmaceuticals , Sanofi — Shares of Teva Pharmaceuticals and Sanofi rose more than 23% and 6%, respectively, after the companies announced positive Phase 2b results for duvakitug, their joint treatment of moderate to severe inflammatory bowel disease. Pfizer — Shares traded around 4% higher on […]
Read More