ADVFN US – Market Content Editor
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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…
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Analyst Ratings and Price Targets: Costco, UPS, Coinbase, United Rentals, Airbnb…
In the constantly evolving landscape of the stock market, keeping abreast of the latest analyst ratings and price target adjustments is crucial for investors. Our team has compiled a succinct summary of significant movements and recommendations for various listed companies, providing investors with key insights for their investment decisions. Here’s a rundown of the notable…
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Oil Prices Edge Up Amid Geopolitical Tensions and Supply Risks
Oil prices saw a moderate increase today as investors weighed the supply risks stemming from ongoing Ukrainian attacks on Russian refineries and the potential for escalating conflict in the Middle East. As of the latest updates, Brent crude for June delivery (CCOM:OILBRENT) was up by 0.42% at $89.29, while West Texas Intermediate (WTI) for May…
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Intel Reports Significant Operating Loss in Chip Manufacturing Division, Aiming for Recovery by 2027
Intel disclosed a substantial operating loss for its chip manufacturing business on Tuesday, marking a significant setback for the company as it strives to regain the technological lead it has lost over the years to TSMC. The tech giant reported that its manufacturing unit suffered an operating loss of $7 billion in 2023, widening from…
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US mortgage applications down by 0.6%
Mortgage applications in the United States declined by 0.6% on a seasonally adjusted basis for the week ending March 29, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey revealed on Wednesday. The Purchasing Index went down slightly from the previous week’s 145.7 to 145.6. The Mortgage Market Index fell from 196.8 seen the week…