adminDollar Eyes 2024’s Biggest Monthly Loss as Fed Signals Cut
(Bloomberg) — The proximity of the Federal Reserve’s shift to interest-rate cuts is battering the US dollar this month, sending the world’s reserve currency slumping and igniting rallies in major…
Recession forecasts have been wrong for years. Here’s why a ‘perfect indicator’ doesn’t exist.
It hasn't been a great time for folks in the business of predicting recessions. The Conference Board's Leading Economic Index signaled a recession in 2022. The highly regarded inverted yield…
US economic growth for last quarter is revised up to a solid 3% annual rate
WASHINGTON (AP) — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade…
Salesforce CEO on robot sales agents, Microsoft’s AI letdowns, and big earnings beat
A bounce-back quarter for Salesforce (CRM). Shares of the SaaS company popped 4% in after-hours trading on Wednesday as it bested Wall Street estimates on sales, operating margins, and earnings.…
Morning Bid: Nvidia watch party over, back to inflation vigil
A look at the day ahead in European and global markets from Stella Qiu It is a sea of red in Asia as AI darling Nvidia failed to meet expectations…
Fed’s Bostic: it is ‘time to move’ on rate cuts, but wants to be sure
(Reuters) -Federal Reserve Bank of Atlanta President Raphael Bostic on Wednesday said that with inflation down farther and the unemployment rate up more than he anticipated, it may be "time…
Oil Holds Two-Day Loss as Technicals Vie With Stockpiles, Libya
(Bloomberg) — Oil steadied after a two-day drop, as technical barriers stymied gains from a decline in US stockpiles and disruptions to Libyan production. Most Read from Bloomberg West Texas…
Stock market today: Tech leads losses as investors await Nvidia earnings
A decline in tech stocks led the market lower on Wednesday as investors awaited chipmaker Nvidia's (NVDA) earnings report, seen as crucial to keeping confidence in the broader market aloft.…
Russian economy shows solid growth despite Ukraine war sanctions
MOSCOW (Reuters) – The Russian economy has shown solid growth in many sectors while unemployment remains at a record low, new data showed on Wednesday, prompting officials to hint at…
Best Buy expected to post sluggish sales as consumers hold out for AI-enabled products
Best Buy (BBY) is expected to post another quarter of sluggish sales as consumers push off big-ticket purchases. On Thursday before the market open, the company is expected to post…
