Category: Latest News
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Optimism About Soft Landing Contributes To Rally On Wall Street
After ending Wednesday’s session moderately lower following late-day volatility, stocks moved sharply higher during trading on Thursday. The major averages all showed strong moves to the upside, with the Dow and the S&P 500 reaching new record closing highs. The major averages pulled back off their best levels late in the trading session but remained…
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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. First-Time Unemployment Benefit Claims Fall Unexpectedly
First-time claims for U.S. unemployment benefits unexpectedly fell to a nearly four-month low in the week ended September 14th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slid to 219,000, a decrease of 12,000 from the previous week’s revised level of 231,000. Economists had expected jobless…
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Futures Pointing To Sharply Higher Open On Wall Street
The major U.S. index futures are currently pointing to a sharply lower open on Thursday, with stocks likely to see an early rally after ending yesterday’s session moderately lower following late-day volatility. The considerable upward momentum on Wall Street comes as traders continue to digest the Federal Reserve’s decision on Wednesday to slash interest rates…
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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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U.S. Stocks Close Moderately Lower After Fed Slashes Interest Rates
Stocks saw considerable volatility late in the trading session on Wednesday following the Federal Reserve’s announcement of its decision to lower interest rates. The major averages showed wild swings back and forth across the unchanged line before eventually closing in negative territory. The Dow and the S&P 500 reached new record intraday highs immediately following…
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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. Residential Construction Rebounds
A report released by the Commerce Department on Wednesday showed a substantial rebound by new residential construction in the U.S. in the month of August. The Commerce Department said housing starts spiked by 9.6 percent to an annual rate of 1.356 million in August after plunging by 3.9 percent to a revised rate of 1.237…
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U.S. Stocks May Move To The Upside Ahead Of Widely Expected Rate Cut
The major U.S. index futures are currently pointing to a modestly higher open on Wednesday, with stocks likely to move to the upside after ending the previous session little changed. Traders may be reluctant to make significant moves early in the session ahead of the Federal Reserve’s monetary policy decision this afternoon. The Fed is…