The Federal Reserve on Wednesday approved its second straight interest rate cut, a widely expected move that came despite little recent visibility on the economy due to the government shutdown.By a 10-2 vote, the central bank’s Federal Open Market Committee lowered its benchmark overnight borrowing rate to a range of 3.75%-4%. In addition to the rate move, the Fed announced that it would be ending the reduction of its asset purchases – a process known as quantitative tightening – on Dec 1.Governor Stephen Miran again cast a dissenting vote, preferring the Fed move more quickly with a half-point cut. Kansas…
Author: usaeverydaylife
The shutdown of the U.S. federal government could cost the economy up to $14 billion, depending on how long it lasts, the Congressional Budget Office said Wednesday.The shutdown, now in its fourth week, will result in the loss of at least $7 billion of gross domestic product by the end of 2026 as a result of furloughed federal employees working fewer weeks, the CBO said.And the cost will grow the longer the shutdown drags on, CBO Director Phillip Swagel told U.S. House Budget Committee Chairman Jodey Arrington, R-Texas, in a letter.A six-week shutdown will cost the economy $11 billion, and…
Jensen Huang, chief executive officer of Nvidia Corp., during a Bloomberg Television interview at the Nvidia AI summit in Washington, DC, US, on Tuesday, Oct. 28, 2025. Kent Nishimura | Bloomberg | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Hand over fistNvidia took center stage yesterday — literally and figuratively. In addition to inking deals with multiple well-known companies, CEO Jensen Huang made a major domestic production announcement during the chip titan’s technology conference.Here’s the full rundown:Nokia said Nvidia is…
new video loaded: How Japan’s New Prime Minister Bonded With TrumpTrump will meet Japan’s new prime minister, Sanae Takaichi, on Tuesday (10/28). A look at how she will approach President Trump in order to rekindle the close relationship he had with her mentor, former Prime Minister Shinzo Abe.By Javier C. Hernández, Nailah Morgan, Christina Shaman and Jon HazellOctober 29, 2025 Source link
These are the stocks posting the largest moves midday. Source link
It’s only uphill from here for Victoria’s Secret , according to UBS. The bank upgraded shares of the lingerie seller to buy from neutral. It also hiked its 12-month price target to $46 per share from $25, signaling 33% upside. Analyst Mauricio Serna pointed increased conviction in the company’s management, noting that it will be able to successfully reposition both the Victoria’s Secret and Pink brands. “This should lead to sustained comp sales growth post several years of declines, driving market sentiment higher,” he wrote. “We believe VSCO’s product pipeline and marketing initiatives should sustain the momentum into Holiday, resulting…
The Snowflake Inc logo, which represents the American cloud computing-based data company that offers cloud-based storage and analytics services, is being displayed on their pavilion at the Mobile World Congress 2024 in Barcelona, Spain, on February 28, 2024. Joan Cros | Nurphoto | Getty ImagesSnowflake had to make a Securities and Exchange Commission filing this week after an executive shared unauthorized financial guidance in a street interview video on Instagram posted on Sunday.The data-storage company said in the 8-K filed Monday that the executive, who was not named, is not a “designated spokesperson authorized to authorized to disclose financial information”…
Microsoft CEO Satya Nadella departs following a meeting of the White House Task Force on AI Education in the East Room of the White House in Washington on Sept. 4, 2025.Eric Lee | Bloomberg | Getty ImagesMicrosoft was hit with outages in its Azure cloud and 365 services on Wednesday, hours before the company’s scheduled earnings release. Users on social media reported problems accessing their sites and services running on Microsoft’s products, and the company’s website was down. The problems began around 11:40 a.m. ET, according to Downdetector, which relies on user reports.Microsoft didn’t immediately respond to a request for…
Meta CEO Mark Zuckerberg wears the Meta Ray-Ban Display glasses, as he delivers a speech presenting the new line of smart glasses, during the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., Sept. 17, 2025. Carlos Barria | ReutersMeta is slated to report third-quarter earnings on Wednesday after the bell and investors will be watching for any indication that it will increase spending on artificial intelligence.Here’s what analysts polled by LSEG are expecting:Earnings per share: $6.69Revenue: $49.4 billionMeta has spent the year investing heavily in AI, and it conducted a massive overhaul of the organization leading…
Microsoft CEO Satya Nadella speaks at Axel Springer Neubau in Berlin on Oct. 17, 2023.Ben Kriemann | Getty ImagesMicrosoft will report results for its fiscal first quarter after the close of regular trading Wednesday.Here’s what analysts are expecting according to a consensus of estimates from LSEG:Earnings per share: $3.67Revenue: $75.33 billionCloud continues to be the big driver of growth at Microsoft, as the business has proven to be a major beneficiary of the artificial intelligence boom. Last quarter, Microsoft disclosed the scale of its Azure cloud infrastructure business in dollars for the first time. The company said revenue in fiscal 2025…
