Major Wall Street indices soared on Wednesday after?Federal Reserve?Chair?Jerome Powell?said the central bank may slow the pace of rate hikes as soon as December while also noting that?bringing down inflation?remained a long battle.
The U.S. index futures point to a modestly lower opening on Thursday, as the market pauses for a breather after Wednesday's rally. With Wednesday's upside, the tech-heavy Nasdaq Composite settled at the highest level since Sept. 19 and the broader S&P 500 Index notched up a two-and-a-half month high.
US stocks closed sharply higher on Wednesday after Fed Chair Jerome Powell said that the Fed could slow the pace of rate hikes as soon as the December FOMC meeting but that there is a long way to go in bringing inflation down. Futures traders now see a 75% chance that the US Federal Reserve will increase interest rates by 50 basis points at its December meeting.
The CNN Money Fear and Greed index showed a sharp improvement in overall market sentiment following comments from Federal Reserve Chair Jerome Powell. Powell suggested the central bank could begin easing back on its interest rate hikes starting as early as next month.
Hong Kong stocks soared on Thursday with the benchmark Hang Seng opening 2.47% higher following Federal Reserve Chair Jerome Powell's speech that indicated the central bank may slow the pace of rate hikes as soon as December.
Major Wall Street indices soared on Wednesday after Federal Reserve Chair Jerome Powell said the central bank may slow the pace of rate hikes as soon as December while also observing there is a long way to go in bringing down inflation. 1. Tesla Inc: The EV-maker is looking forward to ramp-up its Model Y production output from Gigafactory Texas in the first quarter of 2023, reported Electrek.
The current contract with the operator of the Puerto Rico Electric Power Authority's transmission and distribution system has been temporarily extended until a debt deal gets done.
Bitcoin was spiking up over 3.8% higher on Wednesday, crossing above the $17,000 mark after Fed Chair Jerome Powell began to speak at the Brookings Institution. Powell suggested the central bank could begin easing back on its interest rate hikes starting as early as next month, causing the S&P 500 to jump about 2.8%. Bitcoin and Ethereum spiked in tandem.
The Federal Home Loan Bank of Indianapolis Board of Directors has elected Karen F. Gregerson as Chair of the Board and Robert M. Fisher as Vice Chair of the Board, each for a two-year term beginning Jan. 1, 2023, and ending Dec. 31, 2024. Since 2016, Karen Gregerson has been President and CEO of The Farmers Bank in Frankfort, Ind.
Ethereum was trading over 4% higher on Wednesday heading into Fed Chair Jerome Powell's Brookings Institution speech. After Powell suggested the central bank could begin easing back on its interest rate hikes starting as early as next month, the S&P 500 jumped about 2% and Ethereum began to climb higher in unison, to trade up over 6% from Tuesday's 24-hour closing price.
An increase in the volume of tax-exempt bond deals for long-term, fixed-priced natural gas contracts may signal a turnaround in the prepaid energy market.
As the Federal Reserve continues to grapple with historically high inflation, new data shows that wage growth may finally be headed lower after accelerating for nearly two years. What Happened: New data from employment platform?Indeed's economic research lab shows that wages appear to be slowing down.?The?trajectory of wages is critical for policymakers amid the?ongoing battle with inflation.
The baseline conforming loan ceiling for mortgages sponsored by Fannie Mae and Freddie Mac in 2023 will be $726,200, up 12.21%, or $79,000, from 2022, according to a report issued Tuesday by the Federal Housing Finance Agency.What Happened: The federal government will support mortgage loans over $1 million through GSEs for the first time ever.
Total November volume stood at $19.712 billion, the lightest of any month year-to-date, in 527 versus $37.073 billion in 1,055 issues a year earlier, according to Refinitiv data.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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