Dow drops over 600 points as inflation data dashes hopes for big Fed rate cut
Wall Street's main stock indexes fell on Wednesday after the latest inflation reading beat expectations of further interest rate cuts from the Federal Reserve, while Democrat Kamala Harris' chances of winning the presidential election rose following the televised debate. In recent trading, the Dow Jones Industrial Average fell 635 points, or 1.6%, to 40,102. The […]
Gold (XAU) Daily Forecast: Key Support at $2,500 Holds as Fed Rate Cut Speculation Fades – FX Empire
The US Dollar Index (DXY), which tracks the dollar's relative value against a basket of major currencies, is approaching last week's monthly high, reducing gold's appeal as a non-yielding asset. Strong dollar and Fed interest rate expectations weigh on gold prices The recent rise in the US dollar has contributed to gold's decline as hopes […]
Here's how much your Social Security benefits could be cut without a fix – CBS News
Social Security is approaching a fiscal cliff that could ultimately result in steep cuts to benefits for 70 million Americans, with a recent study showing that the typical couple would face a $16,500 annual payment reduction in 2033. analysis From the Committee for a Responsible Federal Budget. Benefits for a middle-income single worker would be […]
Gold surges above $2,500 ahead of US CPI as Fed rate cut looms – FXStreet
Gold is rising despite the general strength of the US dollar, as traders focus on the upcoming release of the US Consumer Price Index (CPI). The CME FedWatch tool indicates a 73% probability of a 25 bps rate cut by the Fed, a change from previous speculation of a 50 bps cut. Treasury yields are […]
EUR/USD slumps as Fed seems to cut interest rates gradually – FXStreet
EUR/USD fell below 1.1050 as the US Dollar strengthened on expectations that the Federal Reserve will opt for a small interest rate cut this month. Investors are awaiting the US Consumer Price Index (CPI) on Wednesday for new guidance on interest rates. The ECB is expected to cut interest rates this week. EUR/USD is trading […]
Rate Cut Mania Now Crushing Stocks after Whipping Stocks into Frenzy or Whatever. Mag 7 Down $2.5 Trillion from Peak, Nasdaq Bloodied, Semis Crushed – WOLF STREET
A 4% drop puts the Nasdaq back to where it was in November 2021. Amazon, Tesla and Alphabet are already back to levels from 3-4 years ago. Nvidia is -24% from its peak. From WOLF STREET by Wolf Richter. The rate cut is coming, and will take effect on September 18. The stock market dream […]
Gold retreats from near record high as Fed rate cut speculation grows – FXStreet
Gold failed to break above the resistance of $2,531 and fell to close at $2,493 amid growing expectations of a Fed interest rate cut. U.S. nonfarm payrolls came in weaker than expected, but improving numbers and rising hourly wages raised uncertainty around a 25 or 50 basis point cut. Despite the decline in Treasury yields, […]
Left Wing Activist Pleads Not Guilty Over ‘Cut All Their Throats’ Speech
The former Labour MP has denied inciting violent disorder with a speech in which he called for the beheading of political opponents. Ricky Jones, 57, appeared in court again on a charge of inciting violent disorder over his speech in August at a “peace rally” held in response to days of unrest across England and […]
US adds 142K jobs in August, with Fed poised to cut rates
The U.S. added 142,000 jobs in August, and the unemployment rate fell to 4.2%, according to data released Friday by the Labor Department. The new report is in line with economists' forecasts of 161,000 jobs and an unemployment rate of 4.2 percent, and will be closely watched as the Federal Reserve prepares to cut interest […]
Skip Bayless cut Stephen A. Smith out after Shannon Sharpe drama
Skip Bayless apparently wants nothing more to do with Stephen A. Smith. After Bayless personally criticized Shannon Sharpe's playing career on FS1's “Undisputed” in December 2022, leading to the Hall of Fame tight end leaving the network last year, Smith called Bayless to let him know how “wrong” he had acted. Smith is Chris Carter's […]