Category: Latest News
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Daily Analyst Recommendations: Block, Chubb, Doordash, Coinbase…
Every morning, traders and investors can access a curated list of analyst recommendations covering key companies. This list, essential for understanding market movements and sentiments towards specific stocks, includes changes in opinions, price targets, or new coverage and may be updated throughout the trading session. Here are some notable updates: Archer-Daniels-Midland Company: Zacks has upgraded…
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U.S. Manufacturing Sector Faces Job Cuts and Hiring Freezes Amid Economic Slowdown
Dan Ariens, leading his family’s fourth-generation business, Ariens Company, known for its distinctive bright orange snow blowers and lawnmowers, has been forced to make tough decisions in response to a sales downturn. The company, based in Brillion, Wisconsin, saw a 20% reduction in its workforce, dropping to 1,600 employees, with no anticipated business improvement until…
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Major Averages Fluctuate Before Closing Narrowly Mixed
Stocks recovered from an initial move to the downside and spent most of Wednesday’s trading session in positive territory. Buying interest waned in the latter part of the session, however, with the major averages eventually ending the day narrowly mixed. While the Dow (DOWI:DJI) edged down 43.10 points or 0.1 percent to 39,127.14, closing lower…
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EIA: US crude inventories grow by 3.2 million barrels
Commercial crude oil inventories in the United States, which are not taking into account those in the Strategic Petroleum Reserve, increased by 3.2 million barrels to 451.4 million barrels in the week ending March 29, the Energy Information Administration (EIA) revealed in its report on Wednesday. The figure marked a larger-than-expected buildup. The country’s inventories…
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Fed’s Bostic: Rate cuts in Q4 ‘appropriate’
Federal Reserve Bank of Atlanta President Raphael Bostic (pictured) stressed on Wednesday that he considers it “appropriate” to cut interest rates in the last quarter of 2024, as he believes inflation will not reach the 2% target until 2026. “If the economy evolves as I expect, and that’s going to be seeing continued robustness in…
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ISM: US services sector activity eases in March
Growth in activity in the United States services industry eased in March, the Institute for Supply Management (ISM) reported on Wednesday. The ISM Services Purchasing Managers Index (PMI) landed at 51.4%, down 1.2 percentage points from February’s 52.6%. The Business Activity index increased by 0.2 percentage points to 57.4%, while the Employment index expanded by…
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US composite PMI down slightly in March
The United States Composite PMI Output Index came in at 52.1 in March, slipping from 52.5 registered in February, “but still pointing to a solid monthly increase in overall business activity,” S&P Global revealed in its report on Wednesday. The figure was slightly lower than was predicted in the flash estimate. The US Services PMI Business…
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Crypto: Paradigm Seeks Investment for New Web3 Fund, KBW Initiates Cautious Coverage on Robinhood, and Other Updates
Paradigm seeks record funding for new Web3 fund Paradigm, a leading venture capital firm focused on Web3, is advancing to raise a new investment fund, targeting between $750 million and $850 million. This move could mark the largest fund since the crypto market turmoil in May 2022, according to Bloomberg. Paradigm’s step is seen as…
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Futures Pointing To Continued Weakness On Wall Street
The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to see further downside following the steep drop seen in the previous session. Concerns the Federal Reserve may hold off on lowering interest rates may continue to weigh on the markets following the release of more upbeat U.S.…
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ADP: US private payrolls up by 184,000 in March
The number of jobs in the United States private sector saw a monthly increase of 184,000 in March, significantly more than analysts expected, Automatic Data Processing Inc. (ADP) revealed in its National Employment Report published on Wednesday. Most new jobs – 87,000 – were registered in large enterprises, followed by mid-sized ones with between 50…