Here’s what Wall Street isn’t paying attention to from the Fed
The Federal Reserve has been telegraphing to the market that it intends to keep raising rates both to stave off high inflation and to prevent financial markets from getting unhinged. The market, though, seems to stop reading after the “inflation”...
Fed indicates it’s staying the course on rate hikes despite growing criticism from Trump
Federal Reserve officials remain convinced that continuing to gradually increase interest rates is the best formula to preserve a steady economy, according to minutes released Wednesday of the central bank’s most recent policy meeting. That may not please President Donald...
Speed restrictions give FX market participants the hump
Nikos Tsoskounoglou, head of algorithmic trading at ADS Securities, reckons the effect on pricing will depends on the quality of the flow. “For good customers, it would probably make no difference, but for others it might translate to slightly wider...
Housing stocks get hit hard amid weak data and worries on Wall Street about rising interest rates
Housing stocks fell broadly on Wednesday after analysts at Credit Suisse lowered their ratings and price targets on several companies in the sector because of fears of rising interest rates. A drop in housing starts data also weighed on the...
Bank of America CEO Moynihan says he cut jobs equal to the workforce of Delta Air Lines
Bank of America CEO Brian Moynihan said that the adoption of technology at the second-biggest U.S. lender has allowed him to cut 100,000 workers in less than a decade. “The straightforward way to get people to feel it is this:...
Market is rallying but ‘we’re not out of the woods yet,’ says trader
The U.S. stock market shook off the recent sell-off and rose sharply on Tuesday, but that doesn’t necessarily mean it’s time to celebrate yet, trader Matthew Cheslock told CNBC. The Dow Jones Industrial Average closed up more than 500 points...
Walgreens wants to be seen as a health-care company, not just a retailer
Walgreens wants to be seen as more than a retailer. Its competitor, CVS Health, has been touting itself as a health-care company dedicated to transforming the patient experience and lowering costs in the process. To help its case, CVS is...
Another great sign for the economy: Job openings hit an all-time high in August
Job openings hit a record in August, indicating companies could face more inflationary pressures ahead with a tight labor market. The vacancies level hit 7.14 million for the month, according to the Job Openings and Labor Turnover Survey, a report...
US industrial production increased for a 4th-straight month, but momentum slowed sharply in the third quarter
U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter. The Federal Reserve said on Tuesday industrial production rose 0.3 percent last month...
US economic outlook vs the rest of the globe is brightest in 11 years
The U.S. is putting more distance between itself and the rest of the world in terms of growth expectations from professional investors. The news keeps getting worse for global economic prospects, with respondents to the Bank of America Merrill Lynch...
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