Category: Latest News
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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.
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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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Tesla Offers No Yearly Merit Bonuses, FedEx EPS Falls Short, Alibaba Leadership Shift, and More
U.S. index futures show a negative trend in pre-market trading this Wednesday, in contrast to the robust recovery observed in the major indices in 2023. At 05:02 AM, the Dow Jones futures (DOWI:DJI) fell 19 points, or 0.05%. The S&P 500 futures fell 0.15%, and the Nasdaq-100 futures declined 0.28%. The 10-year Treasury bond yield…
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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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Crypto: BlackRock’s ‘IBIT’ ETF Revamp, SEI & BNB Surge on Tuesday, and More
Bitcoin faced its first weekly drop after eight weeks of gains After eight consecutive weeks of gains, Bitcoin (COIN:BTCUSD) recorded its first weekly decline last week, with about $345 million in long and short positions liquidated, mostly in long positions. According to analyst Matteo Greco of Fineqia International, this movement resulted in high volatility and…