Alejandro Mayorkas
US labor market remains stable; weather, strike distortions loom
October 3, 2024 – 6:48 AM PDT WASHINGTON (Reuters) – The number of Americans filing new applications for unemployment benefits rose marginally…
AI-led demand
Tech market values jump in September on Fed rate cuts, AI optimism
The market capitalization of many tech firms surged in September, buoyed by a Federal Reserve rate cut that typically enhances future profits and cash flows for high-growth companies.
Accenture
Wall St rises on AI euphoria after Micron’s upbeat forecast
Wall Street’s main indexes rose, with the S&P 500 hitting a record high, as Micron’s upbeat forecast revived the frenzy around AI.
borrowing costs
US consumer confidence ebbs in September on labor market fears
U.S. consumer confidence unexpectedly fell in September amid mounting worries over the health of the labor market.
Barclays
Fed to cut rates by 25bps in Nov and Dec, approach neutral level sooner
The U.S. Federal Reserve will cut the federal funds rate by 25 basis points in both November and December.
Advanced Micro Devices
Wall Street: Dow Skyrockets To All-Time High After Fed Delivers Rate Cut
Wall Street had another big day with the Dow and S&P 500 hitting another intraday record high, just a day after the Federal Reserve cut interest rates by half-a-percentage point and forecasted that more cuts could be coming.
Advanced Micro Devices
Wall St jumps with tech stocks in the lead after Fed kicks off easing cycle
Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction.
Daily Feed
The Scoop 9/18/24
The Federal Reserve cuts interest rates for the first time in 4 years; and the Teamsters Union declines to endorse a presidential candidate for the first time since 1996. One America’s Zach Petersen has The Scoop.
benchmark interest rate
Federal Reserve Meets, Decides To Cut Interest Rates Before 2024 Election
At their meeting on Wednesday, the Federal Reserve cut its benchmark interest rate by a half percentage point, satisfying investors who had been expecting a strong move given the weakening employment picture.
Alicia Summers
Fed Cuts Interest Rates By 0.5%; First Cut In Four Years
The Federal Reserve cut interest rates by 0.5% for the first time since 2020. This move comes after inflation dropped to 2.5% from 9.1% and follows a revision showing nearly one million fewer jobs added than initially reported. Ed Siddell, CEO & Chief Investment Advisor at EGSI Financial joins Alicia Read more…