Today: September 21, 2024
Today: September 21, 2024

Stock Markets

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Nike veteran Hill to replace Donahoe as CEO; shares jump  

By Juveria Tabassum, Nicholas P.

September 19, 2024
Nike veteran Hill to replace Donahoe as CEO; shares jump  
Americas|Business|Economy|Finance|Stock Markets

BMO raises S&P 500 target for 2024 to 6,100 from 5,600

BMO Capital Markets on Thursday said it was raising its S&P 500 target for 2024 to 6,100 from 5,600.

September 19, 2024
BMO raises S&P 500 target for 2024 to 6,100 from 5,600
Business|Finance|News|Stock Markets

Macquarie unit to pay nearly $80 million to settle SEC charges

A Macquarie Group investment adviser has agreed to pay $79.8 million to settle charges in connection with overvaluing collateralized mortgage obligations (CMO) held in advisory

September 19, 2024
Macquarie unit to pay nearly $80 million to settle SEC charges
Business|Economy|Finance|News|Stock Markets

Union Pacific expects revenue to grow faster than volumes over next three years

U.S. railroad Union Pacific said on Thursday it expects its revenue to grow faster than volumes over the next three years, outpacing the market.

September 19, 2024
Union Pacific expects revenue to grow faster than volumes over next three years
Business|Economy|Finance|Stock Markets

US holiday sales to grow 3% again with promotions in focus, Mastercard forecasts

U.S. retail sales are expected to rise 3.2% in the holiday season as companies look to deals to attract thrifty shoppers during a shorter-than-usual shopping window this year, a Mastercard

September 19, 2024
US holiday sales to grow 3% again with promotions in focus, Mastercard forecasts
Business|Economy|Finance|Stock Markets|Technology

US-listed crypto stocks jump after bumper rate cut from Fed

U.S.-listed crypto shares jumped on Thursday after a half-percentage point interest rate cut boosted risk appetite, adding to the momentum of an industry that has already

September 19, 2024
US-listed crypto stocks jump after bumper rate cut from Fed
Business|Economy|Finance|News|Stock Markets

US homebuilder stocks surge on hopes for demand boost after Fed rate cuts

Shares of major U.S. homebuilders rose in early trading on Thursday as the Federal Reserve's rate-cut cycle is expected to ease pressure on mortgage rates, driving demand

September 19, 2024
US homebuilder stocks surge on hopes for demand boost after Fed rate cuts
Business|Economy|Europe|Finance|Stock Markets

Cautious Bank of England hold rates, extends bond reduction plan

The Bank of England kept interest rates at 5.0% on Thursday, saying it would be careful about future cuts, and also held off from running down its

September 19, 2024
Cautious Bank of England hold rates, extends bond reduction plan
Business|Economy|Europe|Finance|Stock Markets

ECB's role in any UniCredit and Commerzbank combination

UniCredit, Italy's second-largest bank, has taken a 9% stake in Germany's Commerzbank and is seeking permission to potentially raise this to 29.9%, sources told Reuters, while

September 19, 2024
ECB's role in any UniCredit and Commerzbank combination
Economy|Finance|Stock Markets

Bank of England leaves rates at 5%, pound hits highest since March 2022

The Bank of England left interest rates at 5% on Thursday and voted to run down its stock of British government bonds by another 100 billion pounds ($132.86 billion) over the coming

September 19, 2024
Bank of England leaves rates at 5%, pound hits highest since March 2022
Business|Economy|Finance|Stock Markets

US bank stocks rise as jumbo rate cut eases credit risk, cost concerns

U.S. bank stocks rose on Thursday after the Federal Reserve's 50 basis point cut in interest rates raised hopes of lower deposit costs and reduced pressure

September 19, 2024
US bank stocks rise as jumbo rate cut eases credit risk, cost concerns
Business|Economy|Finance|News|Stock Markets

S&P 500 surges to record high close on euphoria over Fed rate cut

The S&P 500 surged to a record high close on Thursday, the day after the Federal Reserve cut interest rates by 50 basis points and indicated more rate

September 19, 2024
S&P 500 surges to record high close on euphoria over Fed rate cut
Asia|Economy|Finance|Stock Markets

Bullish bets steady on Asian currencies as Fed easing bets soften dollar, Reuters poll shows

Analysts remained bullish on most Asian currencies despite marginally dialling back some bets, a Reuters poll showed on Thursday, as a defensive U.S. dollar driven by a

September 19, 2024
Bullish bets steady on Asian currencies as Fed easing bets soften dollar, Reuters poll shows
Economy|Finance|Stock Markets

BofA now expects Fed to go for 75 bps in rate cuts in Q4

BofA Global Research raised its forecast for the Federal Reserve's anticipated interest rate cuts for the remainder of this year to 75 basis points, after the U.S. central bank kicked off

September 19, 2024
BofA now expects Fed to go for 75 bps in rate cuts in Q4
Asia|Economy|Finance|News|Stock Markets

Wall Street soars to records as Dow leaps 500 in a rate-cut rally that swept the world

Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates

September 19, 2024
Wall Street soars to records as Dow leaps 500 in a rate-cut rally that swept the world
Business|Economy|Stock Markets

China expected to trim main policy rate and lending benchmarks: Reuters poll

China is widely expected to trim its main policy and benchmark lending rates on Friday, a Reuters poll showed, after the Federal Reserve's outsized interest rate cut removed some

September 19, 2024
China expected to trim main policy rate and lending benchmarks: Reuters poll
Business|Finance|Stock Markets

Market calm yields to stocks surge as investors cheer Fed rate cut

An initial muted market reaction following the Federal Reserve’s first rate cut in four years gave way to a surge in U.S.

September 19, 2024
Market calm yields to stocks surge as investors cheer Fed rate cut
Economy|Finance|News|Stock Markets

Dollar slips in choppy trading as traders grapple with Fed's giant rate cut

The U.S. dollar slipped in choppy trading on Wednesday as markets grappled

September 18, 2024
Dollar slips in choppy trading as traders grapple with Fed's giant rate cut
Business|Economy|Finance|News|Stock Markets

US borrowers get quick relief as Fed cuts rates

U.S. consumers got an immediate reprieve on borrowing costs from banks after the Federal Reserve cut interest rates on Wednesday for the first time

September 18, 2024
US borrowers get quick relief as Fed cuts rates
Business|Economy|Finance|Stock Markets

Hear Chair Powell explain decision to slash interest rates

The Federal Reserve announced a jumbo-sized rate cut, its first rate reduction cut since Covid. Federal Reserve chair Jerome Powell held a press conference to share more about the supersized rate cut. 

September 18, 2024
Hear Chair Powell explain decision to slash interest rates
Business|Economy|Finance|News|Stock Markets

Fed policymakers see end-2024 policy rate at 4.4%: projections

U.S. central bankers think they’ll need to lower interest rates to a range of 4.25%-4.50% by year-end, more than they anticipated in June, as inflation approaches their 2% goal

September 18, 2024
Fed policymakers see end-2024 policy rate at 4.4%: projections
Business|Economy|Finance|News|Stock Markets

Fed Bowman's dissent is first from Fed governor since 2005

Federal Reserve Governor Michelle Bowman on Wednesday became the first Fed governor to vote against an interest-rate decision by the U.S. central bank since 2005, denying Fed

September 18, 2024
Fed Bowman's dissent is first from Fed governor since 2005
Business|Economy|Finance|Stock Markets

JPMorgan takes on Wall Street's overwork concerns with new role, memo shows

JPMorgan Chase has created a new role that will oversee its junior bankers and analysts amid a focus to tackle the persistent problem of overworking on Wall Street.

September 18, 2024
JPMorgan takes on Wall Street's overwork concerns with new role, memo shows
Business|Finance|Stock Markets

US SEC votes to allow half-penny stock pricing

Wall Street's top regulator on Wednesday unanimously voted to allow stock exchanges to price many shares in increments of half a penny, rather than the current minimum

September 18, 2024
US SEC votes to allow half-penny stock pricing
Business|Finance|Stock Markets|Technology

Facebook parent Meta Platforms beats lawsuit over Apple privacy, Sandberg disclosures

Meta Platforms won the dismissal of a lawsuit claiming it defrauded shareholders by concealing how changes to Apple's privacy settings would make Facebook and Instagram

September 18, 2024
Facebook parent Meta Platforms beats lawsuit over Apple privacy, Sandberg disclosures

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