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Biden Administration’s Historic Investment in Intel to Revitalize U.S. Semiconductor Industry
The Biden administration has unveiled a monumental plan to inject nearly $20 billion in grants and loans into Intel (NASDAQ:INTC), aiming to significantly enhance the United States’ semiconductor chip production capabilities. This ambitious initiative marks the government’s most substantial commitment yet to fostering advanced chip manufacturing on American soil. President Biden is set to announce…
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Market Watch: Fed Decision, Samsung-Nvidia Tie-Up, UK Inflation Dip
Fed’s Policy Meeting Draws to a Close Investors and market observers are on high alert as the Federal Reserve wraps up its two-day policy meeting, with widespread anticipation that interest rates will remain on hold. The spotlight is on Chair Jerome Powell’s upcoming press conference and the Fed’s updated economic forecasts, especially after Powell’s earlier…
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JPMorgan raises quarterly dividend to $1.15 per share
JPMorgan Chase & Co. (NYSE:JPM) disclosed on Tuesday that its Board of Directors set up an increase of its quarterly dividend to $1.15 per, which will be paid to stockholders next April 5 when the trading operations finish. This raise signified a 9.5% jump from the prior quarterly dividend of $1.05 per share and may…
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Fed March meeting expected to hold rates
United States Federal Reserve’s Federal Open Market Committee (FOMC) is largely expected to keep its key interest rate unchanged during its monetary policy meeting on March 19 and 20. However, rate cuts are expected in 2024 and the market will be looking for clues on the timing. The current federal funds rate target range is between 5.25% and 5.50%.…
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U.S. Stocks Show Notable Turnaround Amid Rebound By Nvidia
After coming under pressure early in the session, stocks showed a significant turnaround over the course of the trading day on Tuesday. The major averages climbed well off their worst levels of the day and into positive territory. The major averages reached new highs for the session going into the close of trading. The Dow…
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Crypto: Bitcoin Plummets, Grayscale Promises Lower Fees, and Latest News
Bitcoin’s fall affects market and traders with forecast of more instability Bitcoin (COIN:BTCUSD) faced a sharp decline in value over the last 24 hours, hovering around $64,329.32 at the time of writing. The negative movement, possibly intensified by the new adoption of Bitcoin ETFs, dragged along other cryptocurrencies and related assets. Amidst this volatility, optimistic…
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Futures Pointing To Initial Pullback On Wall Street
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to give back ground following the strong upward move seen in the previous session. A pullback by Nvidia (NASDAQ:NVDA) may generate some selling pressure, as the chipmaker is slumping by 2.7 percent in pre-market trading. Nvidia held its…
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US housing starts up by 10.7% in February
Privately‐owned housing starts in the United States saw a monthly increase of 10.7% in February to reach 1,521,000, the US Census Bureau unveiled in its report published on Tuesday. Compared to February 2023, the figure went up by 5.9%. Single-family housing starts rose by 11.6% on a monthly basis to hit 1,129,000. Privately‐owned housing completions…
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Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More
Unilever (NYSE:UL) – Unilever announced on Tuesday the spin-off of its ice cream unit, including Magnum and Ben & Jerry’s, into an independent business, accompanied by a cost-cutting program that would cut 7,500 jobs. The initial action resulted in a 3.2% increase in shares in pre-market trading. Berkshire Hathaway (NYSE:BRK.A) – Berkshire Hathaway has stepped…
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US Index Futures Decline Ahead of Federal Reserve Meeting, Oil Prices Retreat
In Tuesday’s pre-market trading, U.S. index futures are pointing to a decline, reflecting investors’ caution as they analyze revelations from Nvidia’s artificial intelligence conference and the growing anticipation for the future direction of U.S. monetary policy, especially with the commencement of the Federal Reserve’s (Fed) two-day meeting scheduled for today. By 06:30 AM, Dow Jones…