By Stephen Culp NEW YORK (Reuters) -U.S. stocks inched higher on Wednesday amid range-bound trading after investors parsed a steep downward revision in payrolls, and the release of the minutes from the most recent meeting of the Federal Reserve cemented expectations for a September rate cut. The S&P 500 and the Nasdaq were in positive
By Lawrence Delevingne and Huw Jones (Reuters) -Global shares idled on Wednesday after a lengthy rebound propelled them towards recent record highs, and as investors awaited clues on interest-rate cuts from the Federal Reserve to decide their next move. Fed Chair Jerome Powell is expected to further cement the view that the central bank is
US stock futures stalled on Wednesday after markets’ roaring comeback hit the buffers, as investors waited for Federal Reserve minutes and jobs data revisions likely to shape bets for interest-rate cuts. S&P 500 futures () were little changed after the benchmark index closed slightly lower to snap an eight-day winning streak. Futures on the Dow
Gold prices reached record highs on Tuesday as investors continue to flock to the precious metal ahead of the Federal Reserve’s expected rate cut in September. Spot gold surged above $2,525 per ounce on Tuesday while gold futures (GC=F) for December delivery climbed above $2,560 per ounce. Gold purchases by central banks, which hit a
(Bloomberg) — Stocks ticked higher after a buoyant session on Wall Street amid bets the Federal Reserve will soon signal it’s ready to start cutting interest rates. Most Read from Bloomberg MSCI’s all-country stock index headed for a ninth day of increases — the longest run of gains since December. Europe’s Stoxx 600 and US
Federal Reserve Chair Jerome Powell said the best thing the central bank could do for the housing market is beat back inflation. Recent trends in the mortgage market show that playing out. Housing advocates and real estate groups spent months arguing that the Federal Reserve had to lower rates to ease the nation’s housing woes,
Lower mortgage rates should ameliorate our housing situation, in theory. But where mortgage rates are at the moment, and where they’re expected to go in the next year or so, isn’t enough for that to happen, according to Capital Economics. Anxiety about a potential recession and sluggish economic data are leading to expectations about lowered
A closely watched report on US inflation showed that consumer price increases came in line with estimates during the month of July, according to the latest data from the Bureau of Labor Statistics released Wednesday morning. The Consumer Price Index (CPI) rose 0.2% over the previous month, an uptick from June’s 0.1% decline amid a
Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers Bank, one of the only crypto-friendly banks in the U.S., was served with a 13-page regulatory enforcement action by the Federal Reserve related to its digital asset and dollar token
Average mortgage rates open the week lower, with 30-year fixed terms hovering around 6.50% as of Monday, August 12, 2024, as the market awaits key inflation and consumer spending data for July, starting with the release of the Producer Price Index tomorrow and followed by the Consumer Price Index on Wednesday. Fresh data within these