Federal Reserve officials in December concluded that interest rate cuts are likely in 2024, though they appeared to provide little in the way of when that might occur, according to minutes from the meeting released Wednesday. At the meeting, the rate-setting Federal Open Market Committee agreed to hold its benchmark rate steady in a range … Read more
Shipping giant Maersk saw a second session of strong gains Wednesday, as investors assessed a ratings upgrade and its decision to prolong a halt on Red Sea travel due to safety concerns. The Danish firm topped Europe’s Stoxx 600 gainers, with its Copenhagen-listed shares up 4% in early afternoon trade following Tuesday’s 6.4% rise. Shares … Read more
Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, May 23, 2019. Ann Saphir | Reuters Richmond Federal Reserve President Thomas Barkin on Wednesday expressed confidence that the economy is on its way to a soft landing, but obstacles remain that will … Read more
Skyline of Riyadh in Saudi Arabia. Simon Dawson | Bloomberg | Getty Images Saudi Arabia’s Public Investment Fund (PIF) was the top spender among global sovereign wealth funds last year, accounting for about a quarter of the $124 billion splashed by state-owned investors, according to a preliminary report by research consultancy Global SWF. The Saudi … Read more
Investor Steve Eisman of “The Big Short” fame is questioning the level of bullishness on Wall Street — even with the market’s tepid start to the year. From enthusiasm surrounding the “Magnificent Seven” technology stocks to expectations for multiple interest rate cuts this year, Eisman believes there’s little tolerance for things going wrong. “Long term, … Read more
A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. (Photo by Fareed Kotb/Anadolu via Getty Images) Anadolu | Getty Images The threat to global trade in the Red Sea remains high, even with efforts to protect commercial vessels from attacks by Iranian-backed Houthi … Read more
Traders work on the floor of the New York Stock Exchange. NYSE Stocks could be in for a rough year while the U.S. 10-year Treasury yield is set to jump back above 5% in what may become a “year for non-consensus,” according to one technical strategist. The S&P 500 finished 2023 up 24.23% after a … Read more
Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021. Nina Westervelt | Bloomberg | Getty Images After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Shipping giant FedEx last week … Read more
Scooters take over SXSW in Austin, TX As the last decade came to an end, it was easy for a young engineer to hop on a Bird scooter and ride it to a nearby WeWork office, home to the hottest new crypto startup. Then came Covid. Electric scooters and coworking spaces were no longer important, … Read more
Sudanese army soldiers, loyal to army chief Abdel Fattah al-Burhan, sit atop a tank in the Red Sea city of Port Sudan, on April 20, 2023. – | Afp | Getty Images With the eyes of the world on the ongoing wars in Ukraine and Gaza, an unprecedented number of potentially “catastrophic” conflicts are going … Read more
