Stocks, Dow, Fed, rate cuts, Trump, Harris, Paris Olympics
Kamala Harris, economy, tax proposals Stocks surge after inflation data released on hopes of September rate cut Trump-Harris battle heats up 2024 White House race Bitcoin nears $70,000 as cryptocurrency could play role in election campaign Tesla CEO Elon Musk appears before Congress as President Trump makes clear his stance on EVs Delta’s Crowdstrike Nightmare […]
Dow soars over 600 points on tech rebound, optimism about Fed rate cuts
Wall Street’s major stock indexes closed higher on Friday, regaining some of the ground lost earlier in the week as investors again flocked to big tech stocks following a broad sell-off and inflation data stoked optimism that interest rate cuts could soon begin. The Dow Jones Industrial Average surged 800 points, closing at 40,589.34, up […]
GDP surges by 2.8%, giving hope for rate cuts in September
GDP is growing at 2.8% annually, which indicates that the economy is doing well. (iStock ) The pleasant surprise was that gross domestic product (GDP) grew 2.8% year-on-year in the second quarter. Advance quote This is good news for the overall economic outlook, as a GDP growth of between 2% and 3% indicates the U.S. […]
Dow surges more than 700 points as the stock market gears up for rate cuts – CNN
Spencer Pratt/Getty Images Economic data has also been surprisingly strong, even as interest rates remain at 23-year highs. new york CNN — There’s a clear shift in mood on Wall Street. Strong corporate earnings have driven stocks to repeatedly hit record highs in 2024, even as persistent inflation has forced investors to lower their estimates […]
House passes Interior bill with steep cuts to EPA
The House passed a partisan appropriation bill Wednesday for the Interior Department, the Environmental Protection Agency, and other related agencies. The measure, which passed 210 to 205, would impose a 20% cut to the EPA and includes several conservative provisions that are likely to doom it in the Senate. The fiscal 2025 spending bill proposes […]
Tesla revenue misses estimates as price cuts dent profit
Tesla Inc said on Tuesday its second-quarter profit margins fell as price cuts and stimulus measures to combat sluggish demand continued to weigh on profits even as it stepped up efforts to push self-driving technology. Elon Musk’s Tesla Inc.’s second-quarter gross profit margin for its auto division was 14.65% excluding regulatory deductions, beating expectations of […]
Tesla’s quarterly results miss estimates after price cuts hit bottom line
Constellation Research founder R Ray Wang analyzes Tesla and Google at Varney & Co. Tesla Inc. on Tuesday reported second-quarter profit margins that fell short of analysts’ expectations as the company ramps up efforts in self-driving technology while price cuts and incentives to stimulate sluggish demand continued to weigh on profits. Tesla’s second-quarter auto gross […]
Biden Admin Cuts Multi-Billion Dollar Check To Push ‘Community-Driven’ Green Projects All Over America
The Biden administration announced Monday that it is sending billions of dollars across the country to advance climate change-related projects. The Environmental Protection Agency (EPA) said Monday that it is sending a combined $4.3 billion to help fund 25 applicants build “community-driven” climate projects across 30 states. The projects include electric vehicle (EV) charging station […]
Aussie, kiwi dollars struggle on China's rate cuts; dollar adrift By Reuters – Investing.com
By Ray Wee SINGAPORE (Reuters) – The Australian and New Zealand dollars languished near multi-week lows on Tuesday after China cut several key interest rates, while the greenback was little changed awaiting fresh stimulus measures. China surprised markets on Monday by cutting key short- and long-term interest rates for the first time since August last […]
More Biden-Harris Chaos = Fewer Fed Cuts
Biden declines, Fed to close in September The announcement was President Biden has suspended his campaign With President Trump seeking a second term, the Federal Reserve will be under pressure to hold off on raising interest rates until after the election. The U.S. economy currently appears to be growing at a healthy pace in the […]