A trader works, as a screen broadcasts a news conference by Federal Reserve Chair Jerome Powell following the Fed rate announcement on the floor of the New York Stock Exchange in New York City, June 12, 2024.Brendan Mcdermid | ReutersStock futures were flat in overnight trading Tuesday as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multi-year hiking campaign aimed at tamping down hot inflation.Futures tied to the Dow Jones Industrial Average added 15 points, while S&P 500 futures hovered near the flatline. Futures tied to the Nasdaq-100 edged up 0.05%.Wall Street is coming…
Author: usaeverydaylife
Sopa Images | Lightrocket | Getty ImagesShares of Trump Media closed down 6.6% on Tuesday, ending the day at $16.14 a share. The dip came just 48 hours before “lockup” restrictions that have so far barred the company’s majority shareholder, Donald Trump, and other insiders from selling their stakes, are set to expire.Until this week, the former president and early investors who received stock in the company when it merged with a special purpose acquisition company in March and began publicly trading have been prohibited from selling their shares under a “lockup agreement.”Those restrictions expire Thursday.Last week, Trump said he…
PHILADELPHIA — Kirk Cousins didn’t want to say it, but Jessie Bates III finally admitted it.This is what the money is for.The Atlanta Falcons upset the Philadelphia Eagles 22-21 at Lincoln Financial Field on “Monday Night Football” on the backs of their most expensive free-agent acquisitions from the last two offseasons.Cousins orchestrated a 70-yard game-winning drive that took only 1:05 and was capped by a 7-yard touchdown pass to Drake London with 34 seconds left. Bates intercepted a final desperation pass from Eagles quarterback Jalen Hurts with 19 seconds left to ensure Philadelphia didn’t retake the lead.The Falcons (1-1) signed…
Microsoft CEO Satya Nadella speaks during the company’s Build developer conference in Seattle on May 21, 2024.Jason Redmond | AFP | Getty ImagesMicrosoft and BlackRock are part of a group of companies collaborating to pull together up to $100 billion to develop data centers for artificial intelligence and the energy infrastructure to power them.The companies are part of the Global AI Infrastructure Investment Partnership (GAIIP), which was announced in a press release on Tuesday. The other participants are Global Infrastructure Partners (GIP), an infrastructure investor that’s being acquired by BlackRock, and MGX, a tech investor in the United Arab Emirates.…
DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that the Federal Reserve needs to ease policy swiftly amid the current economic slowdown, seeing a half-point interest-rate reduction this week. “The Fed just follows the two-year Treasury and the two-year Treasury is down at 3.6% so the Fed needs to cut rates [by] 150 [basis points] pretty quickly,” Gundlach told CNBC’s Scott Wapner at the Future Proof Conference in Huntington Beach, California. “I think they are going to start with 50 [basis points] tomorrow.” Markets currently are pricing in a 60% chance that the Fed will approve a 50 basis point reduction at the…
The so-called growth trade has taken a back seat in recent months as the markets have rotated into cyclical and more-defensive sectors such as financials, industrials, materials, utilities, health care, and staples. But there’s a growth name that is standing out, according to the charts. This shift in the market is likely a result of recent economic data starting in early July that strongly suggested the first Fed rate cut since 2020 is on the horizon. Despite the broadening of the breadth, many market watchers are calling this market rally into question and calling for a recession because the growth trade…
Speaker of the House Mike Johnson, R-La., talks with reporters in the U.S. Capitol after the last votes of the week on Thursday, September 12, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesU.S House Speaker Mike Johnson said he would preserve some of the clean energy tax credits enacted under President Joe Biden but would seek to eliminate others, as an upcoming battle over taxes next year comes into focus in Washington.In an interview with CNBC, the Louisiana Republican said it would be impossible to “blow up” the entirety of Biden’s Inflation Reduction Act, a sweeping climate and economic…
Republican presidential nominee and former U.S. President Donald Trump attends a press conference at Trump National Golf Club, in Rancho Palos Verdes, U.S., September 13, 2024. David Swanson | ReutersFormer President Donald Trump on Tuesday vowed that he would “get SALT back” if reelected, apparently suggesting that he would eliminate the cap on state and local tax deductions that he signed into law in 2017.Trump, the Republican presidential nominee, made the promise in a Truth Social post intended to court New York voters to back him over Democratic Vice President Kamala Harris in the Nov. 5 election.”We have a real chance…
SpaceX’s Polaris Dawn Falcon 9 rocket sits on Launch Complex 39A of NASA’s Kennedy Space Center as it is prepared for another attempt to liftoff on September 9, 2024 in Cape Canaveral, Florida. Joe Raedle | Getty ImagesElon Musk said SpaceX will sue the Federal Aviation Administration for “regulatory overreach” after the agency planned to fine his defense contractor for issues with two launches last year.Musk’s threat of litigation, in a post on X on Tuesday, came after the FAA announced it would levy fines amounting to $633,000 against SpaceX because the company had purportedly failed to comply with a variety…
Eric DeCosta was on vacation on Cape Cod, his last downtime for many months. Training camp was still a few weeks away, and the Baltimore Ravens had no pressing issues at the moment.The mind of a talent evaluator, though, never rests. DeCosta’s childhood dreams of finding and developing players, drafting and building a roster went beyond becoming an NFL general manager. A devout Boston Red Sox fan, the Ravens GM once thought plenty about running a baseball team. All these years later, there are times when he still does.Watching the Hyannis Harbor Hawks of the Cape Cod League, one of…
