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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…
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U.S. Index Futures Steady Ahead of Fed Rate Decision; Oil Prices Dip
U.S. index futures showed modest fluctuations in premarket trading this Wednesday as Wall Street gears up for a highly anticipated rate cut by the Federal Reserve. CME Group’s FedWatch tool shows traders pricing in a 63% chance of a 50-basis-point cut and 37% odds of a 25-basis-point move. At 5:36 AM ET, Dow Jones futures…
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Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles
Meta Platforms (NASDAQ:META) – Meta could face a significant fine from the European Union for attempting to dominate the classifieds ad market. Regulators allege the company links its Marketplace services to Facebook to disadvantage competitors. The decision may be announced next month, under the supervision of Margrethe Vestager. Additionally, Meta is introducing privacy controls for…
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U.S. Stocks Close Little Changed After Seeing Early Strength
After moving mostly higher early in the session, stocks gave back ground over the course of the trading day on Tuesday. The Dow and the S&P 500 reached new record intraday highs in early trading but subsequently pulled back near the unchanged line. The major averages ended the day narrowly mixed. While the Dow edged…
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Circle Expands USDC in Brazil and Mexico, TON and Curve Join Forces, Trump Unveils WL Token
Circle expands USDC in Brazil and Mexico with local banking integrations Circle has connected its stablecoin USDC (COIN:USDCUSD) to payment systems in Brazil and Mexico, enabling corporate access via local bank integrations. In Brazil, USDC is accessible through PIX, and in Mexico, via SPEI. This expansion comes as Circle plans to bring USDC to the…
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U.S. Retail Sales Up Unexpectedly
Retail sales in the U.S. unexpectedly crept higher in the month of August, according to a report released by the Commerce Department on Tuesday. The Commerce Department said retail sales inched up by 0.1 percent in August after surging by an upwardly revised 1.1 percent in July. The uptick surprised economists, who had expected retail…
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Interest Rate Optimism May Lead To Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Tuesday, with stocks likely to move to the upside following the mixed performance seen in the previous session. Stocks are likely to benefit from optimism about the outlook for interest rates ahead of the Federal Reserve’s monetary policy announcement on Wednesday. While…