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Fed's Kashkari Says Aggressive Rate Hikes Needed To Curb Inflation: 'Haven't Seen Anything Yet To Lower My Rate Path'
2023 Feb 07, 8:03am | 503Ahead of the market open on Tuesday, a Fed official warned that the war against inflation is far from over. What Happened: The strong January payrolls report showed that the central bank has more work to do in its fight against inflation, said Minneapolis Fed President Neel Kashkari in an...
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US Stocks Pause As Traders Await Powell's Speech: Analyst Warns Of Retest Of October Lows As Market, Economic Data Conspire Against Monetary Policy
2023 Feb 07, 6:51am | 1481Stocks look set for another nervous session on Tuesday as traders look ahead to comments from Fed Chair Jerome Powell and another batch of earnings reports. Cues From Monday’s Trading: The major U.S. averages ended Monday’s session lower, extending the losses from the previous session...
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What Happened After The Last Time The Labor Market Was This Tight?
2023 Feb 06, 1:23pm | 980An extremely tight labor market, coupled with historically low unemployment and high demand for workers put upward pressure on wages and prices, with inflation reaching 6.2%. Despite those conditions, a recession was on the horizon as the Federal Reserve tightened monetary policy to curb inflation...
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Apple's Rumored iPhone 'Ultra' Plan, Bill Gates' Dig At Elon Musk, Turkey's Massive Earthquake And More: 5 Key Stories You May Have Missed From The Weekend
2023 Feb 06, 7:08am | 1028It was hardly a slow-news weekend as the U.S. took some coercive action on the Chinese spy balloon hovering in its airspace, and Turkey and Syria suffered a horrendous earthquake that claimed hundreds of lives. On the business side of things, Apple Inc. (NASDAQ: AAPL) looks like it's coming up...
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Nasdaq Futures Indicate Subdued Start For Wall Street: Jerome Powell's Speech On Tuesday Key Highlight This Week
2023 Feb 06, 6:45am | 1455Stock futures indicate major Wall Street indices are expected to open lower this week that will see a crucial speech by Federal Reserve Chair Jerome Powell at the Economic Club of Washington on Tuesday. The speech will be watched carefully by market participants as it comes after Friday’s...
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Jim Cramer Says Jobs Report Indicates Economy Can Handle More Rate Hikes
2023 Feb 06, 6:35am | 391Prominent market commentator Jim Cramer reportedly said the January jobs report shows the economy will remain resilient, despite the Federal Reserve’s interest rate hikes. What Happened: “If the Fed Chief wants to raise interest rates quarter after quarter, this economy can actually...
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'Good Luck Fed:' MIT Professor Olivier Blanchard Sees Central Bank Facing 2 Tricky Scenarios
2023 Feb 05, 10:46pm | 375MIT Professor Olivier Blanchard has explained the dilemma faced by the Federal Reserve in the current economic environment as akin to avoiding ‘Charybdis and Scylla' — the proverbial notion of choosing the lesser of the two evils. According to the Labor Department’s...
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Larry Summers Says Jobs Report A Huge Miss From Consensus: 'Still Think There's Risk Of ... Wile E. Coyote Moment'
2023 Feb 05, 9:18pm | 403Former U.S. Treasury Secretary Lawrence Summers believes Friday’s jobs report is a huge miss from the consensus and the labor market is running very different than lots of other indicators in the economy that are showing some signs of real slowing. What Happened: “One idea would be that...
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Fed Chairman Jerome Powell Celebrates 5 Year Anniversary: 5 Things You Might Not Know About Him
2023 Feb 05, 5:34pm | 695Jerome Powell marked his five-year anniversary as the chairman of the Federal Reserve on Sunday. During his tenure, which began on Feb. 5, 2018, the S&P 500 has gained 56%, the Nasdaq Composite has risen 72%, and the Dow Industrial Average is up 39%. Powell is the Fed's 16th chairman...
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'Risk Of Overheating': 4 Experts On Hot January Jobs Report, How The Fed Will React
2023 Feb 03, 10:41am | 584The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower Friday after the Labor Department reported blowout U.S. jobs market numbers from January. The U.S. added 517,000 jobs in January, beating average economist estimates of 187,000 jobs. The unemployment rate dropped to 3.4%, below economist...
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Ray Dalio Says Cash Now Relatively More Attractive Than Stocks, Bonds
2023 Feb 03, 7:55am | 414Ray Dalio, founder, CIO Mentor and member of the Bridgewater Board believes cash is pretty attractive now, both in relation to stocks and bonds. What Happened: The billionaire’s statement is a reversal from his earlier stance when he believed cash was trash. “We are now in a...
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IMF Says Central Banks Must Be 'Resolute' In Inflation Fight: 'Ensure Policy Remains Appropriately Tight Long Enough'
2023 Feb 03, 7:09am | 503The International Monetary Fund has said in a blog that central banks must be resolute in their fight against inflation and ensure policy remains appropriately tight long enough to durably bring inflation back to target. What Happened: Authors Tobias Adrian, Christopher Erceg and Fabio Natalucci...
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Nasdaq Futures Deflate As Apple Leads Tech Disappointments: Traders Look To Jobs Data For Mitigating Impact
2023 Feb 03, 7:00am | 1410Trading in the U.S. index futures suggests stocks may end a solidly positive week on a negative note. That said, the data-dependency of the Fed places the onus of providing trading cues to each incoming economic data. The U.S. non-farm payrolls data due ahead of the market open, if perceived as...
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Tesla, Meta Stocks: Here Are The Crucial Levels To Watch Next Week
2023 Feb 03, 6:50am | 447Tesla Inc. (NASDAQ: TSLA) and Meta Platforms Inc. (NASDAQ: META) shares have surged significantly since the beginning of 2023. While Tesla gained over 74% this year, Meta has surged over 51%. What Happened: As tech stocks continue to rally with the Federal Reserve dialing down its rate hike pace...
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Cathie Wood Says Won't Be Surprised At Fed's Rate Cuts This Year: 'Bigger Risk Is Deflation…Also A Very Big Opportunity'
2023 Feb 03, 6:28am | 403Cathie Wood of ARK Investment Management reportedly said she won’t be surprised if the Federal Reserve cuts rates this year and that she believes the bigger risk is deflation. What Happened: “I would not be surprised to see the Fed cut rates this year. One of the other reasons that we...