Various stocks are making moves in premarket trading, including Darden, DoorDash, and Nvidia. Schlumberger’s stock rose after announcing a collaboration with Nvidia on AI solutions for the energy sector. The Bank of England decided to hold interest rates steady, while solar stocks rallied following the Fed rate cut. European markets opened higher, and DoubleLine’s Gundlach…
Federal Reserve Chairman Jerome Powell recently announced a jumbo-sized 50-point cut in interest rates, bringing the federal funds rate to 4.75%–5%. The Fed also projects another half-point cut before 2025, with a higher estimated unemployment rate for this year. While U.S. markets initially rose on the news, they couldn’t sustain their gains. A CNBC survey…
At the Skybridge Capital SALT New York 2021 conference, Ray Dalio, co-chairman of Bridgewater Associates, highlighted the significant amount of debt still facing the U.S. economy. With the Federal Reserve’s recent interest rate cut, concerns are raised about balancing the needs of creditors and debtors. Dalio emphasized the unprecedented levels of debt being created by…
The U.S. Federal Reserve announced a half percentage-point cut in its key lending rate, the first reduction since the pandemic, just before the upcoming presidential election. This decision will lower borrowing costs for consumers and businesses, impacting everything from mortgages to credit cards. The Fed also plans to make further cuts by the end of…
In a recent CNBC Fed Survey, 48% of respondents believe Vice President Kamala Harris is more likely to win the 2024 U.S. presidential election compared to former President Donald Trump, who garnered 41% of the vote. This marks a shift from previous surveys, with Harris gaining momentum in the race. Harris has focused on economic…
A trader is watching a news conference by Federal Reserve Chair Jerome Powell on the floor of the New York Stock Exchange, as stock futures remain flat in anticipation of a rate cut from the Federal Reserve. This rate cut comes after a period of aggressive hikes to combat inflation. Investors are eager for the…
The United States has made it clear that it will not support Pakistan’s ballistic missile programme, using sanctions and other tools to protect its own national security. Despite being long-term partners, there are disagreements between the two countries, and America will act to protect its interests. Recent sanctions have targeted Chinese companies for supplying missile-related…
At the Asia Pacific Petroleum Conference, the focus was on the decline in oil demand due to China’s slowing economy. China, the largest oil importer and second-largest consumer, saw a contraction in consumption for the fourth consecutive month. This, along with oversupply, led to lower U.S. crude prices. Experts predict that oil prices could fall…
The United States has imposed sanctions on China’s semiconductor industry, prompting China to focus on boosting its domestic chip sector. The rise of artificial intelligence has fueled China’s goal of becoming a leader in the chip industry. While American firm Nvidia has been in the spotlight for designing GPUs for training AI models, Chinese competitors…
Novak Djokovic won the US Open, extending his record for most grand slam singles titles to 24. He cemented his status as one of the greatest tennis players ever and made history by becoming the oldest man to win the US Open singles title in the Open era. Djokovic honored the late Kobe Bryant after…