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S&P 500 Futures Steady as Powell Comments Awaited
Stock futures paused on Friday after a final flourish to a fantastic month, as investors awaited comments from Jerome Powell. The S&P 500 rose 8.9% in November–the best monthly gain since July 2022–as the 70 basis point peak-to-trough decline in the 10-year Treasury was the steepest since the 2008 global financial crisis, according to Goldman…
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US Futures Flat, European Stocks Gain Ahead of Regional PMI Data and US Federal Reserve Chair’s Speech
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average climbed 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.5% in morning trading. Signify rose 6% and Orpea added 3.8%. On the other hand, Viaplay Group Series…
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Top Company News of the Day: TikTok, X, VF Corp, Microsoft
Montana Judge Says TikTok Ban ‘Likely Violates First Amendment’ The social-media app sued after the state passed a law banning TikTok to protect residents’ privacy. Elon Musk’s F-Bombs Make Linda Yaccarino’s Job at X Even Harder Musk’s outburst is “a line in the sand that can’t be undrawn,” one ad-industry insider said. VF Corp. Lays…
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Dow Jumps To Best Closing Level In Over A Year But Nasdaq Dips
After ending the previous session narrowly mixed, the major U.S. stock indexes once again moved in opposite directions during trading on Thursday. While the Dow moved sharply higher to reach its best closing level in well over a year, the tech-heavy Nasdaq finished the day in the red. The Dow jumped 520.47 points or 1.5…
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Crypto this Thursday: Robinhood Aims for British Market, MicroStrategy Expands Investment in BTC, and More
Divergent views: Bitfinex and Pereira analyze the impact of Fed policies and US GDP on Bitcoin’s future Analysts from Bitfinex and Bitget provide different perspectives on the future of Bitcoin (COIN:BTCUSD). While Bitfinex suggests that a pause in the Federal Reserve’s U.S. interest rate hikes at their December 13 meeting could attract more investments in…
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NY Fed President John Williams Stresses Tight Monetary Policy to Tackle Persistent Inflation
New York Fed President John Williams reiterated that the Fed’s benchmark lending rate is at or near its highest level and stated that monetary policy is ‘quite restrictive’ (‘the most restrictive in 25 years’). Speaking at the Bretton Woods Committee conference at the New York Fed, he said he expects it to be appropriate to…
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U.S. Consumer Price Growth Slowed In October
Consumer price growth in the U.S. slowed in line with economist estimates in the month of October, according to closely watched inflation readings released by the Commerce Department on Thursday. The report said the annual rate of consumer price growth decelerated to 3.0 percent in October from 3.4 percent in September. The slowdown matched expectations.…
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Inflation Data May Contribute To Initial Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to move to the upside following the lackluster performance seen in the previous session. Early buying interest may be generated in reaction to a Commerce Department report showing consumer price growth in the U.S. slowed in line with…
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Federal Reserve’s Preferred Inflation Measure Indicates Cooling Trend Amidst High Interest Rates
The Federal Reserve’s preferred inflation measure showed signs of cooling last month, indicating a decrease in price pressures amidst elevated interest rates and a slowing economic growth trajectory. According to a report released by the Commerce Department on Thursday, prices remained unchanged from September to October, a notable shift from the 0.4% increase observed in…
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Applications for US Jobless Benefits Rise Modestly
Slightly more Americans filed for jobless claims last week, pushing the overall number of people in the U.S. collecting unemployment benefits to its highest level in two years. Applications for unemployment benefits rose by 7,000 to 218,000 for the week ending Nov. 25, the Labor Department reported Thursday. Jobless claim applications are seen as representative…