Author: Fernanda T
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U.S. Futures Dip After Fed Rate Cut Rally; Oil Prices Dip but Head for Second Weekly Gain
U.S. index futures are down in premarket trading this Friday, following a strong rally the previous day, fueled by the Federal Reserve’s interest rate cut and encouraging unemployment data. With no major economic events on the calendar, traders expect light trading activity today. As of 5:11 AM, Dow Jones futures (DOWI:DJI) fell 14 points, or…
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Nike Shares Surge 7% Pre-Market as Elliott Hill Becomes CEO; FedEx Shares Tumble 13% After Profit Miss
Nike (NYSE:NKE) – Elliott Hill, who started as an intern at Nike in 1988, will become the next CEO on October 14, replacing John Donahoe. Hill, with a 32-year career at Nike, is known for his work ethic and dedication. This change comes at a critical time, with the company facing declining sales and increasing…
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Bitcoin Surges After Interest Rate Cut; Ethereum Divides Pectra into Two Phases; IBIT Reports Slower Inflows in September
Bitcoin surpasses $63,500 on Thursday The price of Bitcoin (COIN:BTCUSD) is up 3.3% to $63,705 at the time of writing, following the rise in stocks and gold, driven by the 0.5% interest rate cut by the Fed. The financial market is optimistic, with the S&P 500 reaching new highs on Thursday. Data shows that institutions…
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U.S. Index Futures Rise After Fed Rate Cut; Oil Prices Climb
U.S. index futures rose in premarket trading on Thursday after the Federal Reserve unexpectedly cut interest rates by half a percentage point. At 5:31 AM ET, Dow Jones futures (DOWI:DJI) climbed 466 points, or 1.11%. S&P 500 futures gained 1.48%, and Nasdaq-100 futures advanced 1.96%. The 10-year Treasury yield stood at 3.698%. Today’s U.S. economic…
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AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension
American International Group (NYSE:AIG) – AIG has appointed Keith Walsh as Executive Vice President and Chief Financial Officer, effective October 21. Walsh brings over 20 years of experience, having been CFO at Marsh and an equity analyst at Citi. He will succeed Sabra Purtill and report to CEO Peter Zaffino. Progyny (NASDAQ:PGNY) – Progyny announced…
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SIX Plans Institutional Exchange; Former Coinbase Execs Launch TrueX; River Enhances Transparency with Proof of Reserves
Interest rate cuts may impact Treasury bonds and stablecoins The Federal Reserve cut interest rates by half a percentage point, the first reduction since the onset of the pandemic, aiming to prevent a slowdown in the labor market. With inflation decreasing, the committee projects further cuts until 2025. Despite a growing GDP, concerns about employment…
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U.S. Index Futures Steady Ahead of Fed Rate Decision; Oil Prices Dip
U.S. index futures showed modest fluctuations in premarket trading this Wednesday as Wall Street gears up for a highly anticipated rate cut by the Federal Reserve. CME Group’s FedWatch tool shows traders pricing in a 63% chance of a 50-basis-point cut and 37% odds of a 25-basis-point move. At 5:36 AM ET, Dow Jones futures…
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Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles
Meta Platforms (NASDAQ:META) – Meta could face a significant fine from the European Union for attempting to dominate the classifieds ad market. Regulators allege the company links its Marketplace services to Facebook to disadvantage competitors. The decision may be announced next month, under the supervision of Margrethe Vestager. Additionally, Meta is introducing privacy controls for…
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Circle Expands USDC in Brazil and Mexico, TON and Curve Join Forces, Trump Unveils WL Token
Circle expands USDC in Brazil and Mexico with local banking integrations Circle has connected its stablecoin USDC (COIN:USDCUSD) to payment systems in Brazil and Mexico, enabling corporate access via local bank integrations. In Brazil, USDC is accessible through PIX, and in Mexico, via SPEI. This expansion comes as Circle plans to bring USDC to the…
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Investors Anticipate Retail Sales Data and Fed Decision; Oil Prices Dip as Investors Weigh U.S. Production
Investors are eagerly awaiting retail sales data and the Federal Reserve meeting. Expectations for rate cuts remain divided between 25 and 50 basis points, with potential impacts on economic growth and inflation being closely watched. The 10-year Treasury yield stood at 3.614% in Tuesday’s premarket. In commodities, oil prices slightly dipped as investors assessed U.S.…