Author: iHub News
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Stock Futures Bounce Back After Worst One-Day Slide in Three Months
Stock futures pointed to opening gains on Thursday, following the worst one-day decline in three months. There wasn’t any clear fundamental trigger for Wednesday’s sell-off, setting the stage for a better day on Thursday. But the market has been rallying hard and fast, with the S&P 500 up 22% this year. “The turnaround happened around…
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US Futures Up, European Stocks Down in the Wake of the U.S. Federal Reserve’s More Dovish Pivot
U.S. futures for the S&P 500 were up 0.5% and futures for the Dow Jones Industrial Average rose 0.4%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 fell 0.3% in morning trading. DocMorris climbed 12.8% and Assura added 3.7%. On the other hand, Indutrade lost…
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Top Company News of the Day: Warner, Paramount, Wells Fargo, Blackberry
Warner and Paramount CEOs Discussed Possible Merger of Companies Warner Bros. Discovery CEO David Zaslav met Paramount CEO Bob Bakish and discussed a possible merger between the media giants, people familiar with the matter said-a deal that would unite some of Hollywood and cable’s biggest brands. Wells Fargo Workers in Albuquerque Vote to Form Union,…
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Profit Taking Contributes Late-Day Sell-Off On Wall Street
Stocks recovered from initial weakness and moved mostly higher over the course of morning trading on Wednesday but came under significant pressure in the latter part of the session. The major averages moved sharply lower in late-day trading, partly offsetting recent strength. The major averages saw further downside going into the close, ending the session…
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Consumer Confidence, Home Sales and Oil Inventories Reports Due
The Conference Board is scheduled to release its report on consumer confidence in the month of December at 10 am ET. The consumer confidence index is expected to rise to 103.4 in December after climbing to 102.0 in November. Also at 10 am ET, the National Association of Realtors is due to release its report…
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Profit Taking May Contribute To Initial Weakness On Wall Street
The major U.S. index futures are currently pointing to a modestly lower open on Wednesday, with stocks likely to give back ground after moving notably higher in recent sessions. Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on the recent strength in the markets. The Dow…
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Market Optimism Pushes Metals Higher
Metals ticked higher supported by market optimism around interest rate cuts next year and hopes of a brighter demand outlook. The Democratic Republic of Congo, the world’s top producer of cobalt, is ready to welcome more U.S. investments in its mining industry, which is dominated by Chinese miners, the country’s president said. For over a…
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Oil Edges Up
Oil prices edged higher on concerns about global trade disruptions after major companies paused transit through the Red Sea due to recent attacks by Yemen’s Houthi forces. “The attacks in the Red Sea are the third major disruption to maritime transport this year, alongside low water levels in the Panama Canal and collapse of the…
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Investors Remain Bullish On Bonds
Investors surveyed in BofA’s global fund manager survey in December remain bullish on bonds with allocation up one percentage point on the month to net 20% overweight, the biggest overweight since March 2009. Regarding which asset class fund managers expect to perform best in 2024, 45% said bonds. Short-term rates will be lower over the…
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Sterling Falls On Expectation Of Base Rate Cut
Sterling declined as markets price in Bank of England rate cuts in early 2024 after weaker-than-expected U.K. November inflation data. “There’s growing confidence cuts to the base rate could begin as early as March and that by this time next year the economic landscape will look very different,” AJ Bell said.