China kept its benchmark lending rates unchanged on Friday, with the one-year loan prime rate held at 3.1% and the five-year LPR at 3.6%. The People's Bank of China's decision comes as it works to stimulate economic growth and support the weakening yuan. This move follows a 25-basis-point rate cut by the U.S. Federal Reserve on Wednesday.
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 100 points on Thursday. The Dow traded up 0.55% to 42,557.62 while the NASDAQ rose 0.52% to 19,492.93. The S&P 500 also rose, gaining, 0.46% to 5,899.14. Check This Out: Top 3 Consumer Stocks You May Want To Dump This Quarter Leading and Lagging SectorsUtilities shares rose by 1.3% on Thursday.
If markets hope to recover from the sharp sell-off triggered by the Federal Reserve?s December meeting, Friday's release of the Personal Consumption Expenditure price index ? widely regarded as the Fed?s preferred inflation measure ? will play a crucial role. Unfortunately for investors, the outlook is far from reassuring.
Applied Materials Inc (AMAT) shares are trading lower by 1.48% to $163.11 during Wednesday?s session following the Federal Reserve?s cautious pivot on interest rate policy, alongside broader sector challenges.
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The U.S. economy expanded at an annualized real growth rate of 3.1% in the third quarter of 2024, exceeding the prior estimate of 2.8%, according to the official final reading released on Thursday. This marks the fastest pace of economic expansion since the fourth quarter of 2023 and signals a stronger-than-expected rebound in activity.
Jeremy Siegel, professor emeritus at the University of Pennsylvania?s Wharton School, described the stock market?s recent downturn as a ?healthy? reaction to the Federal Reserve?s cautious approach to future interest rate cuts.
The Federal Reserve announced a widely anticipated 25-basis-point interest rate cut at its December meeting Wednesday, lowering the federal funds rate to a range of 4.25% to 4.5%. The cut is the third consecutive reduction in borrowing costs following a 50-basis-point cut in September and a 25-basis-point move in November and brings rates to the lowest level since January 2023.
In a year marked by three consecutive rate cuts totaling 100 basis points, Federal Reserve Chair Jerome Powell said the Fed is shifting gears to a more cautious stance heading into 2025 as interest rates move tantalizingly close to a neutral environment for the economy.
The Federal Reserve closed out the year with a widely anticipated 25 basis-point interest rate cut Wednesday, lowering the federal funds rate to a range of 4.25%-4.5%. This marks the lowest level since January 2023 and is the third consecutive reduction in borrowing costs, following a 50-basis-point cut in September and a 25 basis-point move in November.
The Federal Reserve closed out the year with a widely anticipated 25 basis-point interest rate cut Wednesday, lowering the federal funds rate to a range of 4.25%-4.5%. This marks the lowest level since January 2023 and is the third consecutive reduction in borrowing costs, following a 50-basis-point cut in September and a 25 basis-point move in November.
QCP Capital has issued a cautious outlook for markets ahead of the Federal Reserve's final meeting of 2024, citing potential volatility amid decreasing liquidity and technical signals for Bitcoin . The firm also noted growing optimism for crypto in 2025, fueled in part by speculation surrounding Donald Trump's return to office and emerging Bitcoin-related policy proposals, such as a draft Execu...
The Federal Reserve is set to wrap up 2024 with its last Federal Open Market Committee meeting on Wednesday, delivering what's expected to be its third consecutive interest rate cut.
Markets are on edge ahead of the Federal Reserve?s final meeting of 2024, with investor focus shifting to the central bank's projections for 2025 rate cuts rather than the widely expected 25-basis-point reduction. What Happened: The outcomes of the projections could trigger vastly different market reactions, from relief rallies to sharp declines.
The U.S. stock market has generally delivered solid gains around Federal Reserve meetings in 2024, signaling investor optimism as the central bank prepares for its final policy decision of the year on Wednesday.
Occidental Petroleum Corp (OXY) shares are trading lower by 3.2% to $46.16 this week as China's latest economic data points to slowing growth, raising concerns about global energy demand. What To Know: The National Bureau of Statistics reported that November retail sales increased by just 3% year-on-year, falling short of economists' 5.3% expectations and marking a slowdown from October's 4.8% growth.
Exxon Mobil Corp (XOM) shares are trading lower by 3.3% to $107.10 since Monday?s open. What Happened: Fresh data from China's National Bureau of Statistics revealed that key economic indicators, including retail sales and property investment, underperformed in November.
In a recent survey, the Federal Reserve is anticipated to announce a reduction in interest rates this Wednesday, despite ongoing debates about the appropriateness of such a move. What Happened: A December survey indicates that the Federal Reserve is poised to reduce interest rates on Wednesday.
The Federal Reserve is widely expected to announce a 25-basis-point rate cut on Dec. 18, marking its third consecutive reduction after slashing rates by 50 basis points in September and by 25 in November. Markets have fully priced in this move, assigning nearly a 100% probability, as per CME FedWatch tool.
JPMorgan Chase & Co (JPM) shares are trading lower by 3% to $239.54 this week. The decline comes as wholesale inflation rose more than expected, while jobless claims surged, clouding the Federal Reserve's path forward. What To Know: The Producer Price Index soared 3% year-over-year in November, surpassing economist forecasts and marking the steepest rise since February 2023.
Traders betting big on aggressive Federal Reserve interest rate cuts in 2025 might be in for a brutal reality check as soon as next week. At the upcoming Federal Reserve meeting on Dec. 18, policymakers are expected to signal a more cautious approach, with only three interest rate cuts projected for next year.
At the Benzinga Future of Digital Assets conference, a panel discussion spotlighted Bitcoin's growing influence in global economic strategies and its potential as a hedge against sanctions. Pompliano highlighted a shift in how nations perceive Bitcoin, particularly as a defensive tool against sanctions.
Egg prices are once again spiraling out of control in the U.S., with the Producer Price Index for ?eggs for fresh use? surging 55.6% month-over-month in November and a staggering 80.2% year-over-year, according to official data released Thursday.
Ahead of next week's Bank of Japan meeting, investor sentiment is shifting back toward the ?BoJ trade? ? a strategy that plays on long Japanese equities and banks, while shorting the yen and Japanese government bonds.
Editor's Note: This article has been updated to include comments from ECB President Christine Lagarde. The European Central Bank on Thursday lowered the deposit rate by 25 basis points. The Details: The Governing Council lowered the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility to 3.00%, 3.15% and 3.40% respectively.
The European Central Bank on Thursday lowered the deposit rate by 25 basis points. The Details: The Governing Council lowered the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility to 3.00%, 3.15% and 3.40% respectively.
The inflation measured on U.S. producer prices rose more sharply than anticipated in November, marking its second consecutive increase and casting a shadow over the broader outlook for disinflation in the economy.
Cryptocurrency analyst Benjamin Cowen provided an in-depth analysis of market trends, inflationary pressures and Bitcoin?s rally following Wednesday?s CPI report. What Happened: Bitcoin surged past $100,000, reflecting bullish sentiment as consumer price inflation data for November came in at 2.7%, close to the Federal Reserve's 2% target.
The Consumer Price Index rose from 2.6% in October to 2.7% in November, in line with economist predictions. Experts Weigh In: Most experts are anticipating another quarter-point rate cut from the Federal Reserve next week after November's inflation data came in as expected.
Inflationary pressures intensified as expected in November, but the trend is beginning to show signs of stickiness, posing fresh challenges to the Federal Reserve?s 2% target after months of disinflation. The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October?s 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics.
The Federal Reserve is widely expected to cut interest rates by 25 basis points during its Dec. 18 meeting, with fed funds futures pricing in a nearly 90% chance of the move. Not all voices in the financial world are cheering for lower rates.
Editor?s note: This story has been updated to remove a sentence that was erroneously included. The November Consumer Price Index, released at 8:30 a.m. ET Wednesday, could deliver the final piece of the puzzle for the Federal Reserve?s much-anticipated Dec. 18 meeting.
U.S. policymakers will decide whether to cut interest rates. The November Consumer Price Index, released at 8:30 a.m. ET Wednesday, could deliver the final piece of the puzzle for the Federal Reserve?s much-anticipated Dec. 18 meeting.
In anticipation of the year-end, investors are eyeing a potential rally in stocks and cryptocurrencies, driven by lower interest rates, decreasing inflation, and rising corporate profits. What Happened: The current economic environment is favorable for risk assets such as stocks and cryptocurrencies.
President-elect Donald Trump said on Sunday, that he has no immediate plans to remove Federal Reserve Chairman Jerome Powell after getting elected in November, marking a notable shift in his stance toward the central bank leader ahead of a crucial December Fed meeting.
The November jobs report released Friday showed nonfarm payrolls surged by 227,000, a significant jump from October's weather and Boeing strike-related disruptions. Expert Ideas:? Glen Smith, chief investment officer of GDS Wealth Management, said Friday's stronger-than-expected jobs report helps to quell fears that the labor market was softening following October's report.
The University of Michigan?s closely watched Consumer Sentiment Index surged to a seven-month high in December, reflecting improved current economic conditions while also signaling growing concerns over rising near-term inflation expectations.
The governor of the Bank of Korea,?Rhee Chang-yong, expressed that the South Korean economy is more threatened by the trade policies of President-elect Donald Trump than the current political crisis in the country.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Greed? zone on Thursday. U.S. stocks settled lower on Thursday ahead of the much-awaited jobs report for November, with the Dow Jones index falling more than 200 points during the session.
Traders are laser-focused on November's jobs data, slated for release this Friday, as one of the last pivotal data points ? along with next week's inflation report ? that could shape the Federal Reserve?s decision on a potential rate cut at its Dec. 18 meeting. With market odds sitting at about a 70% chance for a 25-basis-point reduction, the stakes are high.
Amazon.com Inc. founder Jeff Bezos offered an optimistic perspective on addressing America?s national debt crisis, emphasizing economic growth over spending cuts at the New York Times DealBook Summit on Wednesday. What Happened: ?The way out is by outgrowing them,? Bezos said, referring to economic challenges including the deficit and national debt.
Federal Reserve Chair Jerome Powell said the U.S. economy remains strong and even commented on Bitcoin at the New York Times DealBook Summit on Wednesday. The Details: "The U.S. economy is in very good shape right now.
Federal Reserve Chair Jerome Powell addressed the perception of Bitcoin at the DealBook Summit on Wednesday, asserting that the cryptocurrency is more akin to gold than the U.S. dollar. ?People use Bitcoin as a speculative asset.
Federal Reserve Chair?Jerome Powell?painted a rosy picture of the U.S. economy ahead of key jobs data due Friday. What Happened: Speaking at the New York Times DealBook Summit on Wednesday, Powell stressed that the current state of the economy allows the Fed to exercise caution in moving rates back down to a more neutral level. ?The U.S. economy is in very good shape right now.
An interest rate cut at the upcoming Federal Reserve?s Dec. 18 meeting remains far from being a done deal, as St. Louis Fed President Alberto Musalem's latest remarks suggest policymakers may face a heated debate in the weeks ahead.
Poland?s GDP is set to expand further in 2025, cementing its position as the European Union?s fastest-growing economy. Polish economic growth is projected at 3.7% next year, supported by private consumption and investments, European Commission data showed.
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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