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 […]
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 […]
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, […]
Shiba Inu Undeterred By Market Crash As Burn Rate Surges 404% | Bitcoinist.com – Bitcoinist
Shiba Inu has been one of the altcoins particularly hit by the cryptocurrency market crash, dropping significantly from its 2024 highs. However, this has not stopped community members from their mission to reduce the meme coin's supply through burning. Over the past day, Shiba Inu's total burn rate has increased significantly, with the official SHIB […]
Trump vows to cut business tax rate to 15%, create government efficiency commission led by Elon Musk
NEW YORK CITY — Former President Donald Trump delivered a major economic speech in New York City on Thursday, announcing plans to cut the corporate tax rate to 15% and create a “Government Efficiency Commission” led by Elon Musk, while vowing to “make America a richer and stronger country” if elected president in November. President […]
‘I Do Not Want To Go’: Eagles’ Darius Slay Blasts NFL For Sending Players To ‘Somewhere With A Crime Rate This High’
Darius Slay has no interest in going to Brazil. of Star cornerback Philadelphia Eagles player Jonathan McClellan has made his feelings clear about the NFL's season-opening international game in Brazil. The game, scheduled for Friday, will be played between the Eagles and the Green Bay Packers. first time The NFL will play games in Brazil. […]
Americans moving at lowest rate in decades: Census Bureau analysis
(News Nation) — Americans are moving at the lowest rate they've seen in years, and a new survey suggests the rate is likely to stay low for some time to come. The immigration rate hovered around 20% from just after World War II through the 1980s, but has steadily declined since then, to just 8.4% […]
Fed interest rate cuts won’t help your credit card debt
Former CEO of the Federal Reserve Bank of St. Louis James Bullard discusses interest rate cuts and the labor market on “The Craman Countdown.” Wall Street and Main Street are poised to usher in the fall with the first interest rate cut since March 2020, when the COVID-19 pandemic began, raising hopes of lower borrowing […]