Author: iHub News
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S&P 500 Futures Dip with Fresh Record in Sight
Stock futures were softer early Wednesday, not far below levels that would represent a fresh record for the S&P 500. Futures showed the S&P 500 in line to open less than 1% shy of the record closing closing high of 4796.56 it recorded at the start of January 2022. The benchmark has jumped 24.2% this…
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US Futures Flat, European Stocks Up as Rate-Cut Hopes Underpin Sentiment
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average were flat. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.4% in morning trading. Raiffeisen Bank Intl climbed 10.3% and United Internet rose 6.7%. On the other hand,…
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Top Company News of the Day: Starbucks, Universal, Bird Electric Scooter Company, FedEx
Starbucks CEO Takes On Chain’s Social Media Controversy Over Israel-Hamas War “We see protestors influenced by misrepresentation on social media of what we stand for,” CEO Laxman Narasimhan said in a letter. Universal Eyes European Theme-Park Challenge to Disney The company has bought land north of London while weighing opening a competitor to Paris Disneyland.…
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Dow, Nasdaq Close Higher For Ninth Consecutive Session
Stocks moved mostly higher early in the session on Tuesday and saw continued strength throughout the trading day. With the upward move, the Dow and the Nasdaq extended their recent winning streaks to nine consecutive sessions. The major averages saw further upside going into the close, reaching new highs for the session. The Dow advanced…
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New Residential Construction Increases, Building Permits Slumped
The Commerce Department released a report on Tuesday unexpected showing a substantial increase in new residential construction in the U.S. in the month of November. The report said housing starts soared by 14.8 percent to an annual rate of 1.560 million in November after inching up by 0.2 percent to a downwardly revised rate of…
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Futures Pointing To Continued Strength On Wall Street
The major U.S. index futures are currently pointing to a modestly higher open on Tuesday, with stocks likely to see further upside after ending the previous session mostly higher. Optimism about the outlook for interest rates may contribute to continued strength on Wall Street, as stocks appear poised to extend the upward trend seen over…
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Copper Edges Up, Gold Heading For Record Year
Copper prices edged higher despite broad concerns over weak demand in top metals consumer China, and as investors continued to keep a close eye on the path of interest rates. According to analysts, markets continue to price in a 25 basis-point interest rate cut by the Fed as early as March. “The communication and timing…
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Oil Prices Mixed
Oil prices were mixed on concerns over global trade disruptions after major shipping and oil-and-gas companies paused transit in the Red Sea due to escalating attacks from Yemen’s Houthi rebels. The U.S. and other nations have set up a naval force to protect vessels in the area, while an increasing number of companies were rerouting…
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Yen Falls
The yen fell after the BOJ kept its ultra-loose policy unchanged and offered no hints of a possible switch in direction, but losses were limited, suggesting investors still expect the central bank to tighten next year, UniCredit Research said. “This relatively moderate reaction… suggests that investors are still confident that a change in the BOJ…
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S&P 500 Eyes Record High as Rate Cut Hopes Underpin Sentiment
Stock futures hovered on Tuesday as investors continued to revel in an expected loosening of monetary policy in 2024 amid a ‘soft landing’ for the economy. Some Fed officials in recent days appeared to push back against the market’s hopes for lower borrowing costs as early as March, but equity investors seem to have shrugged…