Bank of Japan decided on Friday to maintain its benchmark interest rate at around 0.25%. What Happened: The decision aligns with predictions from a Reuters poll, where economists anticipated another rate hike by the end of the year. Following the announcement, the yen remained nearly unchanged at 142.52 against the dollar.
The U.S. stock market reached new heights today, following the Federal Reserve?s unexpected decision to cut interest rates for the first time in over four years. This bold move led to a surge in the S&P 500 and Dow Jones indices, reaching all-time highs of 5,700 and 42,000 points respectively.
Mortgage rates continue to fall toward 6% as the housing market absorbs the Federal Reserve?s 0.5% rate cut on Wednesday, raising demand for refinancing and buying, stated Freddie Mac. The average rate for a 30-year fixed mortgage fell to 6.09% on Thursday, down from 6.2% a week ago and 7.19% a year earlier, according to Freddie Mac?s Primary Market Mortgage Survey.
VinFast Auto Ltd. (VFS) shares traded higher Thursday after the Federal Reserve cut interest rates by 50 basis points on Wednesday. What Happened: VinFast Auto (VFS) shares closed higher Thursday amid a broad market rally as investors digested the Fed's larger-than-anticipated interest rate cut which marked the first in more than four years.
While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.
Shares of Rivian Automotive Inc (RIVN) gained some 2.25% to $13.19 Thursday afternoon, following the Federal Reserve's unexpected decision Wednesday to cut interest rates by 50 basis points at its September Federal Open Market Committee meeting.
Shares of Hewlett Packard Enterprise Co (HPE) rose some 3.09% to $18.87 Thursday afternoon after the Federal Reserve announced a 50-basis-point interest rate cut at its September Federal Open Market Committee meeting.
The city of Clyde defaulted in August and recently revealed it used debt proceeds for debt payments in a manner that "disguised the deficit cash flow."
Shares of Chinese tech giant Baidu Inc (BIDU) rose 3% to $87.24 Thursday afternoon after the Federal Reserve?s unexpected decision Wednesday to cut interest rates by 50 basis points. The Fed's move, which lowers the federal funds rate to a range of 4.75% to 5%, sparked renewed optimism for global tech stocks, particularly Baidu (BIDU), which is heavily reliant on growth and innovation capital.
CleanSpark, Inc. (CLSK) shares are trading higher Thursday amid strength in Bitcoin as investors digest the first interest rate cut from the Federal Reserve in four years. The Details: CleanSpark (CLSK) shares are climbing amid a broad market rally as investors digest the Fed's interest rate cut which marked the first in more than four years.
A Federal Reserve focused on supporting the economy through rate cuts is a robust bullish catalyst for U.S. small-cap stocks, according to Sean Gallagher, global head of Lazard?s small-cap equity platform. In an exclusive interview with Benzinga, Gallagher reaffirmed his strong optimism that small caps will close the performance gap with large caps that has widened in recent years.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.09 percent. ?Mortgage rates continued declining towards the six percent mark, reviving purchase and refinance demand for many consumers,? said Sam Khater, Freddie Mac?s Chief Economist.
In a noteworthy move to strengthen its financial resilience, the National Bank of Poland increased its gold reserves by 19 tons during the second quarter of 2024. Adam, President of the National Bank of Poland, emphasized the strategic nature of this move.
Upstart Holdings, Inc. (UPST) shares are trading higher Thursday after the Federal Reserve cut interest rates by 50 basis points on Wednesday. The Details: Upstart shares are climbing amid a broad market rally as investors digest the Fed's larger-than-anticipated interest rate cut which marked the first in more than four years.
The Federal Reserve has initiated its long-anticipated easing cycle, potentially setting the stage for a bullish trend in risk assets, including Bitcoin and other cryptocurrencies, according to industry experts.
Coinbase Global, Inc. (COIN) shares are trading higher Thursday as investors digest the first interest rate cut from the Federal Reserve in four years. The Details: The Federal Reserve announced a 50 basis point cut Wednesday, bringing the federal funds rate down to a range of 4.75% to 5% and increasing the appeal of risk assets like stocks and cryptocurrencies.
Applied Materials, Inc. (AMAT) shares are trading higher by 4.63% to $194.75 during Thursday?s session. Wall Street analysts also raised expectations for more rate cuts after the Federal Open Market Committee slashed rates by 50 basis points.
Nike Inc (NKE) shares are trading higher by 1.2% to $81.75 Thursday morning after the?Federal Reserve?cut interest rates by 50 basis points. Why This Matters: Rate cuts are typically designed to stimulate consumer spending by making credit more affordable, which can boost discretionary spending on items like apparel and footwear.
Greystone, a leading national commercial real estate finance company, has provided a $41,535,000 Freddie Mac Optigo? loan to refinance a 252-unit multifamily property in Winter Park, FL. The financing was originated by Haig Kilicyan and Donny Rosenberg of Greystone on behalf of White Eagle Group.
Key Highlights Existing-home sales fell in August, according to the National Association of Realtors?. Three out of four major U.S. regions posted sales declines while the Midwest registered no change. # # # For local information, please contact the local association of Realtors? for data from local multiple listing services.
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.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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