Markets
Fed Chair Powell indicates interest rate cuts ahead: ‘The time has come for policy to adjust’
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of […]
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Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar
Long gone are the days when venture capital was flowing into fintech startups with bold ideas — and little to show in terms of business metrics and fundamentals. Bloomberg | Getty Images As crypto investing becomes more mainstream and institutionalized with bitcoin ETFs, Wyoming is already pushing into the next phase of growth for crypto: […]
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Watch live: Fed Chair Jerome Powell speaks from Jackson Hole conference
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank’s annual retreat in Jackson Hole, Wyoming. Powell was widely expected to chart a path forward […]
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European markets higher ahead of Powell speech; Nestle down 1.65%
LONDON — European stocks were higher Friday as investors looked ahead to U.S. Federal Reserve Chair Jerome Powell’s speech later in the session from Jackson Hole, Wyoming. The Stoxx 600 index was up 0.26% by 1:23 p.m. London time, with all major bourses and the majority of sectors trading in the green. Utilities stocks rose 0.81%, while tech […]
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How China became the leading car supplier to Mexico and what it means for the U.S.
Blocked from the U.S. by tariffs, Chinese electric vehicle makers have looked elsewhere to sell their high-tech cars. But as Mexico has emerged as a hot spot for Chinese EVs, Washington officials worry the country may be used as a “backdoor” to the U.S. market. Last year, China was the leading car supplier to Mexico, […]
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Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
Check out the companies making headlines before the bell. Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. Piper Sandler believes gross margin expansion and efficiency gains are upside catalysts for the stock. Peloton — Shares of the connected fitness company slid about 2.4%, […]
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Stock futures rise with all eyes on Powell’s key Jackson Hole speech: Live updates
Traders on the floor of the New York Stock Exchange on Aug. 4, 2022. Source: NYSE Stock futures rose Friday as traders await an all-important policy speech from Fed Chair Jerome Powell for any guidance on future rate cuts. Futures on the Dow Jones Industrial Average gained 157 points, or 0.4%. S&P 500 and Nasdaq-100 […]
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Alibaba to upgrade Hong Kong listing in a bid to attract Chinese investment
Alibaba is operating in Suqian City, Jiangsu Province, China, on December 29, 2023. Costfoto | Nurphoto | Getty Images Shareholders of Chinese e-commerce giant Alibaba have approved a plan to upgrade its Hong Kong listing to primary status, the company said on Friday, a move that is expected to attract huge investments from mainland China. […]
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Baidu reports slower growth in robotaxi rides
Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. Baidu BEIJING — Chinese tech company Baidu is reporting slower growth in its Apollo Go robotaxi rides than in prior quarters. Figures Baidu reported Thursday showed the number of robotaxi rides operated publicly grew by 26% […]
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Asia markets set for lower open as investors await Jackson Hole meeting, assess Japan inflation data
A customer shops at a supermarket in Tokyo on Feb. 27, 2024. Kazuhiro Nogi | Afp | Getty Images Asia-Pacific markets were set to open lower on Friday as investors await U.S. Federal Reserve chairman Jerome Powell’s comments at Jackson Hole. In the past, Powell has outlined broad policy initiatives and provided clues about the […]
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