U.S. Treasury yields climbed higher Thursday as investors digested the Federal Reserve’s decision to cut interest rates by 50 basis points on Wednesday.At 1:24 p.m. ET, the yield on the 10-year Treasury was up more than 5 basis points at 3.743%. The 2-year Treasury yield was marginally higher at 3.606%.Yields and prices have an inverted relationship. One basis point equals 0.01%.The Federal Reserve on Wednesday delivered a 50 basis point interest rate reduction, bringing the federal funds rate to 4.75% to 5.00%. The size of the cut was in line with market expectations, which had shifted from expecting a 25…
Author: usaeverydaylife
[The stream is slated to start at 1:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates.The president’s remarks come the day after the Federal Reserve announced its decision to cut interest rates by a surprisingly aggressive 50 basis points.”The declines in inflation and interest rates are welcome, but no one’s declaring victory,” National Economic Council Director Lael Brainard told reporters ahead of Biden’s remarks. Source link
If there is one constant in the circle of life that is big business, it’s that cost increases will always be passed on to consumers. Doesn’t matter if it’s food, gas or tickets to sporting events. The paying customer will almost certainly be asked to make up the difference.The latest example came Tuesday, when the University of Tennessee announced an average increase of 14.5 percent for football tickets in 2025, with 10 percent earmarked for athlete compensation. The news should not have come as a surprise to anyone. It was as inevitable as a sunrise.Once the courts cleared the way…
Check out the companies making headlines in midday trading: Tech stocks — Key tech names rallied a day after the Federal Reserve’s supersized rate cut decision. Tesla and Meta jumped around 7% and 4%, respectively, while chip darlings Nvidia and ASML each advanced more than 5%. Edgewise Therapeutics — Shares skyrocketed more than 54% after the biopharmaceutical company announced positive top-line trial data for a heart disease treatment. The data showed improved function in patients with hypertrophic cardiomyopathy. Mobileye Global — The stock surged more than 16%. On Thursday, Intel said it had no plans to divest its majority stake…
Investors looking to participate in a new growth phase for electricity demand by purchasing the Utilities Select Sector SPDR ETF (XLU) might be discouraged by its massive run over the past year. We’ll review a way to play it with options that adds a buffer of protection. Overall electricity demand in the country is entering a new phase of growth. Only 6.9% of the current vehicle fleet in the U.S. is electric. While a 50% target by 2030 may be ambitious, EVs will likely outnumber internal combustion engine vehicles in less than a decade. Due to AI, farm and construction…
Stocks staged a strong rally Thursday, a day after the Federal Reserve’s aggressive start to cutting rates. But Wells Fargo cautioned that the pop is detached from reality. “Both stock and bond prices have rallied more than what we think the underlying fundamentals support,” Scott Wren, the bank’s senior global market strategist, said in a note to clients. “Valuations may not be extremely high but are certainly stretched in our view.” The central bank’s first reduction in years fueled hopes that the U.S. could skirt a recession while inflation is under control. However, the benefits of easing policy may not…
Lebanon’s leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous.On Tuesday and Wednesday, thousands of communications devices — including pagers and two-way radios — used by members of Iran-backed Lebanese militant group Hezbollah exploded in an apparent widespread act of sabotage, killing at least 37 people and injuring at least 3,000 more.Hezbollah called the act an “Israeli aggression”; Israel, meanwhile, has not commented on the blasts. Iran’s ambassador to Lebanon, Mojtaba Amani,…
SEATTLE — Nobody in either clubhouse had ever seen it happen before.When the New York Yankees threw out the Seattle Mariners’ Julio Rodríguez at third base because Rodríguez forgot to return to the bag after nearly getting hit by a flying baseball bat, it stunned just about everyone at T-Mobile Park.And it was a huge reason the Yankees held on for a 2-1 victory in 10 innings Wednesday night to clinch the American League’s first postseason berth.“That’s one that I’ve never seen and I don’t know if I’ll ever see it again,” Yankees manager Aaron Boone said.“I’ve asked a few…
High angle view of female workers showing printed garment to inspector at textile factoryTriloks | E+ | Getty ImagesThis report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyIndia has long been thought of as the world’s back-office, while its Asian counterpart China claimed the title of global factory powerhouse.Those classifications held true for decades as India grew its capabilities in global command centers and other information technology services while China…
A handful of stocks that are aided by momentum, bullish sentiment and robust buyback activity could help investors navigate the rest of September and any storms that blow in October. September has traditionally been the worst month of the year for the S & P 500 going back to 1950, according to data from the Stock Trader’s Almanac. The broad market index has averaged a 0.7% loss every September. The three major averages kicked off September on a downbeat. But after the Federal Reserve cut rates by a half percentage point on Wednesday, stocks continued to overcome the traditional seasonal…
