ADVFN US – Market Content Editor
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Costco Increases Dividend by 14%, Meta Introduces ‘Artemis’ AI Chip, and More News
Meta Platforms (NASDAQ:META) – Meta Platforms disclosed details on Wednesday about its upcoming generation of internal AI accelerator chip, named Artemis, aiming to lessen its dependence on Nvidia’s AI chips and energy costs. The MTIA chip delivers thrice the performance of its preceding generation. Furthermore, Instagram intends to trial features to blur messages containing nudity,…
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U.S. Futures Dip Ahead of PPI and Unemployment Claims, Oil Prices Slide
U.S. index futures are down in Thursday’s pre-market trading, extending the decline seen the previous day. This movement comes after the release of a Consumer Price Index (CPI) above expectations, intensifying speculation that the Federal Reserve (Fed) may keep interest rates at high levels for an extended period, while the minutes from the last meeting…
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U.S. Stocks Plunge As Inflation Data Reignites Interest Rate Worries
Stocks moved sharply lower in early trading on Wednesday and continued to see significant weakness throughout the session. The major averages all showed notable moves to the downside, with the Dow falling to its lowest closing level in almost two months. The major averages remained firmly negative going into the close of trading. The Dow…
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April 10 Economic Digest: CPI Surge, Budget Deficit Shrinkage, and Market Movements in the US
The Consumer Price Index (CPI) for March recorded a 0.4% rise, surpassing expectations and underscoring persistent inflationary pressures in the economy. Excluding the volatile food and energy sectors, the core CPI also saw a 0.4% increase, maintaining a faster pace than anticipated. This uptick has pushed the annual inflation rate to 3.5% from February’s 3.2%,…
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U.S. Federal Budget Deficit Narrows in March with Reduced Outlays and Increased Receipts
The U.S. Treasury Department announced on Wednesday that the federal budget deficit experienced a significant contraction in March, attributed to a decrease in government spending and an uptick in revenue, coinciding with the peak of the tax-filing season. The deficit for the month stood at $236 billion, marking a substantial 38% decrease from the $378…
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Fed officials see progress on inflation amid new challenges
Richmond Fed President Tom Barkin and Chicago Fed President Austan Goolsbee shared optimistic yet cautious views on the state of inflation and the economic outlook during a panel discussion on Wednesday. Barkin highlighted significant progress being made in the battle against inflation. However, Goolsbee pointed out that the Fed is encountering more complex trade-offs this…
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EIA: US crude inventories up by 5.8M barrels
Crude oil stockpiles in the United States jumped by 5.8 million barrels to stand at 457.3 million barrels in the week ending April 5, the US Energy Information Administration shared in its report on Wednesday. The crude oil refinery inputs in the country averaged 15.8 million barrels per day, decreasing 115,000 barrels per day from…
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US wholesale inventories up by 0.5% in February
Wholesale inventories in the United States rose by 0.5% in February compared to the previous month and amounted to $901.1 billion, according to a report by the US Census Bureau on Wednesday. The figure came unchanged from the increase published at the end of February. Meanwhile, the sales of merchant wholesalers in February stood at…
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Federal Reserve FOMC Meeting Highlights: Navigating Uncertainties in Economic Activity and Inflation
Discussions about uncertainties surrounding the outlook for U.S. economic activity, the labor market, and inflation trends dominated the conversations at the latest Federal Open Market Committee (FOMC) meeting, the monetary policy committee of the Federal Reserve (the American central bank). This information was revealed in the minutes from the meeting held on March 19 and…
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Bitcoin Hits $68,000 on Wednesday, MetaMask’s New Daylight Integration, and More Crypto News
Bitcoin slides below $69,000 anticipating US inflation data Before the American inflation data release by the Bureau of Labor Statistics, Bitcoin (COIN:BTCUSD) dropped below $69,000 this Wednesday. The US CPI for March indicated inflation higher than expected, reaching 3.5% annually, surpassing the forecast of 3.4%. Despite intensified efforts by the Federal Reserve to control inflation,…