Category: Latest News
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Fed Keeps Interest Rates Unchanged, Citing High Inflation And Firm Wage Gains; Treasury hits 2-week low
The Federal Reserve’s Federal Open Market Committee (FOMC) kept the United States’ benchmark interest rate unchanged in the range between 5.25% and 5.50% this Wednesday, in line with market consensus. Today’s FOMC decision was “unanimous.” In the statement released with the decision, the FOMC reported that recent indicators suggest that American activity has been expanding…
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Traders May Cash In On Recent Gains As Fed Announcement Looms
US Market 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 mostly higher over the two previous sessions. Traders may look to cash in on the recent strength in the markets ahead of the Federal Reserve’s monetary policy announcement this…
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U.S. Private Sector Employment Increases Less Than Expected In October
A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by less than expected in the month of October. ADP said private sector employment climbed by 113,000 jobs in October after rising by 89,000 jobs in September. Economists had expected employment to jump by 150,000 jobs. “In all,…
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North American Morning Briefing: Fed Decision, Treasury Funding Announcement in Focus
Market Wraps Watch For: ADP National Employment Report for October; ISM Report on Business Manufacturing PMI for October; Interest-rate decision; EIA Weekly Petroleum Status Report; Earnings from CVS Health, Kraft Heinz, Mondelez International Today’s Top Headlines/Must Reads: – Fed Officials Debate Whether They Have Raised Rates Enough – UAW Deal Shows Unions Are Winning. How…
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WeWork’s Stock Plummets as Reports of Upcoming Bankruptcy Filing Emerge
WeWork (NYSE:WE) experienced a sharp decline in its stock value, plunging over 35% in premarket trading on Wednesday. This drastic drop followed reports in the media that the flexible workspace provider was contemplating filing for bankruptcy as early as the upcoming week. The New York-based company, grappling with a substantial debt burden and consistent losses…
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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations
Today, all eyes are focused on the U.S. Federal Reserve’s monetary policy decision later in the day. U.S. rate futures have priced in a 99.7% chance for the Fed to keep its federal funds rate range unchanged at 5.25-5.50%. In addition, market participants will be closely observing Fed Chair Jerome Powell’s post-decision press conference for…
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US Futures Slip, European Stocks Rise Ahead of Fed Decision
U.S. futures for the S&P 500 were down 0.2% and futures for the Dow Jones Industrial Average declined 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.5% in morning trading. Dr. Martens rose 4% and Uniper added 3.5%. On the other hand, Oersted…
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Top Company News of the Day: AMD, WeWork, BHP, Toyota
AMD’s revenue outlook comes in light, but cCompany gives a rosy AI forecast The company came up short with its revenue forecast but talked up its opportunities in artificial intelligence WeWork Plans to File for Bankruptcy as Early as Next Week Once a venture capital-backed star with an astronomical valuation, the flexible-office-space provider is now…
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U.S. Stocks Move Moderately Higher After Recovering From Early Weakness
Stocks moved back to the downside in early trading on Tuesday but have shown a significant turnaround over the course of the session. The major averages have bounced well off their early lows and into positive territory. Currently, the major averages are just off their highs of the session. The Dow is up 95.06 points…
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Crypto This Tuesday: Record-Breaking Profitable BTC Addresses, Tether Bolsters Reserves in Q3, and More
Bitcoin maintains stability after changes in the Bank of Japan’s liquidity policy Bitcoin (COIN: BTCUSD) is trading at around $34,300 following changes in the Bank of Japan’s (BOJ) approach to its “yield curve control” (YCC) program. The BOJ has chosen to consider the 1% limit for 10-year government bonds as a reference instead of a…