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Stocks making the biggest moves premarket: AMD, Cava, Pinterest, Super Micro Computer and more
Check out the companies making headlines before the bell. Advanced Micro Devices — The semiconductor maker fell 5% after sharing adjusted margin guidance for its current quarter that was in line with estimates. However, Advanced Micro Devices beat expectations for both its third-quarter earnings and revenue . McDonald’s — Shares slipped 1% after the fast-food […]
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Bessent says U.S. has ‘lots’ of options to use on tariffs if it loses Supreme Court case
Treasury Secretary Scott Bessent said Tuesday that there are other options in case of defeat as the Supreme Court is about to hear a landmark case on President Donald Trump’s tariffs. The high court is set Wednesday to hear arguments on whether Trump exceeded his authority under the International Emergency Economic Powers Act to enact […]
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Fed Governor Lisa Cook, in first policy speech since Trump suit, says she’s undecided on Dec. rate cut
Key Points Federal Reserve Governor Lisa Cook, in her first policy speech since President Donald Trump tried to remove her from office, said Monday that she supported the recent interest rate cut. She noted that December is a “live meeting,” with the rate decision dependent on how risks break down between stubborn inflation and a […]
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Powell forced to stave off uprisings in markets and on his own Fed board as his term ends
Key Points Fed Chair Jerome Powell will have to steer his way through a suddenly very contentious atmosphere among policymakers that will make whichever direction the Fed chooses divisive. While Wall Street economists were split over whether the FOMC will in fact approve another reduction at the Dec. 9-10 meeting, they were in agreement that […]
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Fed cuts rates for the second time this year, will end balance sheet run-off in December
The Federal Reserve on Wednesday approved its second straight interest rate cut, though Chair Jerome Powell rattled markets when he threw doubt on whether another reduction is coming in December. By a 10-2 vote, the central bank’s Federal Open Market Committee lowered its benchmark overnight borrowing rate to a range of 3.75%-4%. In addition to […]
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Fiserv stock craters 44%, on pace for worst day ever after company slashes guidance
Key Points Fiserv shares were on track for their worst day ever after the fintech company slashed full-year guidance. “Our current performance is not where we want it to be nor where our stakeholders expect it to be,” wrote CEO Mike Lyons in a release. Fiserv added three new board members and announced a new […]
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The Fed has a rate cut plus a bunch of other things on its plate this week. Here’s what to expect
Key Points Markets are assigning a nearly 100% probability that the Federal Open Market Committee will approve a second consecutive quarter percentage point at its meeting this week. Beyond that, policymakers are likely to debate the future path of reductions, the challenges posed by a lack of economic data and the timetable for ending the […]
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Bessent lists five finalists for Fed chair job, and Trump says decision coming before the end of the year
Key Points Treasury Secretary Scott Bessent confirmed that the list of candidates to replace Federal Reserve Chair Jerome Powell has been winnowed down to five. President Donald Trump told reporters that he anticipates naming a replacement by the end of the year. Powell’s term doesn’t expire until May. Source
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Inflation rate hit 3.0% in September, lower than expected, long-awaited CPI report shows
Prices that people pay for a variety of goods and services rose less than expected in September, according to a Bureau of Labor Statistics report Friday that is the only official economic data allowed to be released during the government shutdown. The consumer price index showed a 0.3% increase on the month, putting the annual […]
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Take Back Tesla campaign urges shareholders to reject Musk $1 trillion pay plan
Elon Musk interviews on CNBC from the Tesla Headquarters in Texas. CNBC A day ahead of Tesla’s quarterly earnings report, a coalition of unions and corporate watchdogs wants investors to focus their attention on matters of governance. On Tuesday, a group that includes the American Federation of Teachers and Public Citizen launched a website for […]
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