Markets
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the Covid-19 pandemic — and despite the move being widely forecast, global investors are braced for impact. The Fed is behind a swathe of its central bank peers, including those in the euro zone, the U.K., Canada, […]
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Ray Dalio names the top five forces shaping the global economy
Ray Dalio, founder of Bridgewater Associates LP, speaks during an interview on the sidelines of the Milken Institute Asia Summit in Singapore, on Wednesday, Bloomberg | Bloomberg | Getty Images SINGAPORE — U.S. billionaire Ray Dalio named the top five forces at the front and center of the world’s economy. Speaking at the Milken Institute’s […]
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CFIUS grants Nippon Steel’s request to refile bid for U.S. Steel, source says
A tugboat pushes a barge near the United States Steel Corp. Clairton Coke Works facility in Clairton, Pennsylvania, US, on Monday, Sept. 9, 2024. Justin Merriman | Bloomberg | Getty Images CFIUS, the Committee on Foreign Investment in the United States, that is reviewing a bid by Japan’s Nippon Steel to buy U.S. Steel has granted a request from the Japanese company to refile its takeover […]
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Stock futures are little changed as Wall Street anticipates a long-awaited Fed rate cut: Live updates
A trader works, as a screen broadcasts a news conference by Federal Reserve Chair Jerome Powell following the Fed rate announcement on the floor of the New York Stock Exchange on June 12, 2024. Brendan Mcdermid | Reuters Stock futures were flat in overnight trading Tuesday as Wall Street anticipated a long-awaited rate cut from […]
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Point72’s Steve Cohen is stepping back from trading his own book
Key Points Steve Cohen is retiring from the trading floor at his hedge fund Point72. Point72, which uses long/short, macro and systematic strategies, manages more than $35 billion. The firm is planning to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom. Source
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Stocks making the biggest moves midday: Gannett, Accenture, Hewlett Packard and more
Check out the companies making headlines in midday trading: Hewlett Packard Enterprise — The tech hardware stock jumped 6% after Bank of America upgraded the stock to a buy rating from neutral. The Wall Street firm believes the stock’s valuation is now “compelling,” while highlighting a slew of positive catalysts including new Chief Financial Officer […]
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The Fed’s biggest interest rate call in years happens Wednesday. Here’s what to expect
Federal Reserve Chairman Jerome Powell takes a question from a reporter during a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. Andrew Harnik | Getty Images For all the hype that goes into them, Federal Reserve meetings […]
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Bitcoin climbs above $60,000 ahead of Fed rate decision
Avishek Das | Lightrocket | Getty Images Bitcoin reclaimed $60,000 on Tuesday as investors awaited details of the Federal Reserve’s rate cutting plans. The price of the flagship cryptocurrency was last higher by 4.3% at $60,394.41, according to Coin Metrics. At one point, it rose as high as $61,335.83. It got an initial lift on […]
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DoubleLine’s Gundlach says the Fed needs to cut rates quickly, sees a half-point reduction Wednesday
DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that the Federal Reserve needs to ease policy swiftly amid the current economic slowdown, seeing a half-point interest-rate reduction this week. “The Fed just follows the two-year Treasury and the two-year Treasury is down at 3.6% so the Fed needs to cut rates [by] 150 [basis points] pretty quickly,” Gundlach […]
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Alaska-Hawaiian merger clears DOT review, but airlines must preserve miles, routes
Boeing 737-790 aircraft belonging to Alaska Airlines is seen flying at Anchorage Ted Stevens International Airport in Anchorage, Alaska, United States on July 2, 2024. Hasan Akbas | Anadolu | Getty Images Alaska Airlines and Hawaiian Airlines can go through with their planned merger, but they must maintain the value of their airline reward systems […]
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