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S&P 500 Outpaces Wall Street Projections As Year-End Nears: Will The Rally Hold?
2024 Sep 23, 4:25am | 1030The S&P 500 Index – a measure of broader market performance, has been on a tear this year, thanks to inflation’s downward trajectory that allowed the Federal Reserve the leeway to cut rates, the resilient economy and robust corporate profit growth. With the year approaching its last...
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JPMorgan, BOfA And Other US Banks Reportedly Reap $1 Trillion Windfall From Fed's High Interest Rates
2024 Sep 23, 4:13am | 638U.S. banks have reportedly gained a $1 trillion windfall due to the Federal Reserve’s prolonged period of high interest rates. What Happened: The Federal Reserve maintained elevated interest rates for two and a half years, allowing banks to earn higher yields on deposits held at the Fed....
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Federal Reserve's Bold Rate Cut, Retail Sales Rise And More: This Week In Economics
2024 Sep 22, 6:00am | 563The past week was a rollercoaster ride for the financial world, with the Federal Reserve making a bold move, retail sales showing unexpected resilience, and prominent voices sharing their views on the economy. Here’s a quick recap of the top stories that made headlines. Federal Reserve...
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Fed Rate Cut May Drive Investors Away From Money Markets, Says Portfolio Manager
2024 Sep 20, 4:10pm | 467The Federal Reserve’s decision cut interest rates by 0.5% on Wednesday may pull investors away from money market funds and into longer duration bonds, according to a portfolio manager. Total money market fund assets decreased by $20.02 billion to $6.30 trillion for a week ending on...
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Fed Delivers Large Rate Cut In Bid To Sustain Labor Market; Stocks, Gold Set New Record Highs: This Week In The Markets
2024 Sep 20, 4:03pm | 564The Federal Reserve cut interest rates by 50 basis points at its September meeting, lowering the target range to 4.75%-5%. This bold move defied the predictions of most economists who had anticipated a more modest 25-basis-point reduction. The Fed also hinted at the potential for additional cuts in...
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Fed's Historic Dissenter Bowman Says Smaller Interest Rate Cut Was Justified: 'We Have Not Yet Achieved Our Inflation Goal'
2024 Sep 20, 3:43pm | 508Federal Reserve Governor Michelle W. Bowman defended her decision on Friday to withhold support for a 50-basis-point interest rate cut during this week’s Federal Open Market Committee’s meeting. Instead, Bowman advocated for a more measured approach and was the lone vote for a 25-basis-...
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Wall Street Falls On Triple Witching Day, Fed's Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What's Driving Markets Friday?
2024 Sep 20, 1:14pm | 652Friday was a lackluster session on Wall Street, with major U.S. averages lingering in negative territory at midday trading in New York. This session coincided with the simultaneous expiration of a large volume of options and futures contracts, commonly referred to as “triple witching.”...
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Here's How to Go Long on Rate-Sensitive Sectors With ETFs
2024 Sep 20, 12:30pm | 697Finally, the Federal Reserve slashed interest rates for the first time since 2020 to address slowing economic growth. The central bank cut rates by 50 basis points (bps) to 4.75%-5% after holding it at a 23-year high for 14 consecutive months since July 2023. This shift in its monetary policy...
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Why You Should Retain Green Dot Stock in Your Portfolio for Now
2024 Sep 20, 10:29am | 671Green Dot Corporation (NYSE: GDOT) is currently focusing on long-term growth through prepaid cards, BaaS partnerships, and a strong balance sheet amid some challenges, including a decrease in customers and the end of partnerships in its traditional consumer division and its Banking-as-a-Service (...
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Interest Rate Divergence Weakens Dollar To 17-Month Low Against Yuan: XPeng, Li Auto Among 4 Stock Movers
2024 Sep 20, 9:00am | 590The U.S. dollar plunged to a 17-month low against the Chinese yuan after the Federal Reserve slashed rates as the People’s Bank of China held them steady overnight, raising pressures on interest-rate divergences between the world’s two major economies. The People Bank of China (PBoC)...
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Wall Street Looks To Pause After S&P's Record Performance As Fed Rate-Cut Euphoria Fades And Hard-Landing Fears Surface
2024 Sep 20, 6:29am | 1336The market mood appears to have soured as the index futures slid early Friday, which is expected to be volatile due to the triple witching phenomena. There could be a lack of incentive to buy for want of any major Main Street catalysts, as some economists have begun flashing the danger of a hard...
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Bank Of Japan Leaves Interest Rate At 0.25%, Diverging From Fed's 50 Basis Point Cut
2024 Sep 19, 11:33pm | 358In a move closely watched by global markets, the Bank of Japan decided on Friday to maintain its benchmark interest rate at around 0.25%. What Happened: The decision aligns with predictions from a Reuters poll, where economists anticipated another rate hike by the end of the year. Following the...
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Fed Cuts Interest Rates by 50Bps: What This Means for Bank Stocks
2024 Sep 19, 1:45pm | 663In an aggressive start to its monetary policy easing, the Federal Reserve cut the interest rates by 50 basis points, bringing the fund rates to the 4.75-5% range. This marked the end of an era of aggressive interest rate hikes to tame "persistent" inflation. The central also indicated two...
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EXCLUSIVE: Fed In 'Pro-Growth Mode' Will Drive Small Cap Performance, Lazard Expert Says
2024 Sep 19, 12:45pm | 775A Federal Reserve focused on supporting the economy through rate cuts is a robust bullish catalyst for U.S. small-cap stocks, according to Sean Gallagher, global head of Lazard’s small-cap equity platform. In an exclusive interview with Benzinga, Gallagher reaffirmed his strong optimism that...
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Fed Rate Cut Eases Debt Refinancing For Smaller Cloud Computing Firms: Analyst Flags 5 Stocks To Watch
2024 Sep 19, 12:16pm | 386The Federal Reserve’s decision to cut rates by a hefty 0.5% on Wednesday should be helpful to small- to medium-sized companies in the cloud computing space by making it easier for them to refinance debt, according to an analyst. Piper Sandler analyst James Fisher pointed to five such firms in...