The tech-heavy Nasdaq led Wall Street declines, hitting a six-week low after fresh economic data indicated a deterioration in consumer sentiment.
Read More Nasdaq touches over one-month low after weak consumer sentiment data
Tag: U.S. Federal Reserve
Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target
Retailers are in for a mixed holiday season this year, marked by watchful consumers keeping big spending on a tight leash and vigilantly comparing prices on their mobile phones.
Read More Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target
Wall St edges higher after inflation data keeps Fed rate-cut hopes intact
Wall Street’s main indexes inched higher on Wednesday after in-line consumer price inflation data kept the Federal Reserve on track to deliver another interest rate cut in December.
Read More Wall St edges higher after inflation data keeps Fed rate-cut hopes intact
Fed is predicted to deliver three quarter-point rate cuts this year: Reuters poll
The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024.
Read More Fed is predicted to deliver three quarter-point rate cuts this year: Reuters poll
US consumers could become discouraged without rate cuts, Bank of America CEO says
If the U.S. Federal Reserve does not start cutting interest rates relatively soon, U.S. consumers could become dispirited.
Read More US consumers could become discouraged without rate cuts, Bank of America CEO says
Exclusive: Fed may tweak rule that could save biggest US banks billions
At issue is how the central bank calculates an extra layer of capital it imposes on U.S. global systemically important banks, known as the “GSIB surcharge.”
Read More Exclusive: Fed may tweak rule that could save biggest US banks billions