The Federal Reserve is expected to lower borrowing costs again on Wednesday. Another quarter-point reduction, on the heels of September’s cut, would bring the federal funds rate to a range between 3.75%-4.00%.The federal funds rate, which is set by the Federal Open Market Committee, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the Fed’s moves do have a trickle-down effect on many types of consumer loans.The FOMC has also set expectations for another reduction in December, but after that, the path is unclear. President Donald Trump — who has…
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Two HSBC bank logos are displayed on an office building in Mexico City, Mexico, July 25, 2025. Henry Romero | ReutersEurope’s largest lender HSBC on Tuesday beat third-quarter profit expectations as the bank’s net interest income rose while performance of its wealth segment was also robust.The bank’s profit before tax for the three months ended in September was $7.3 billion, down nearly 14% from a year ago due to higher operating expenses, namely from notable items, including legal provisions of $1.4 billion.Here are HSBC’s second-quarter 2025 results compared with consensus estimates compiled by the bank.Profit before tax: $7.3 billion vs.…
A worker debugs a robot at a Sany Heavy Industry plant in Changsha, central China’s Hunan Province, on Feb. 20, 2020.Chen Zeguo | Xinhua News Agency | Getty ImagesChina’s Sany Heavy Industry rose over 3% on its Hong Kong trading debut Tuesday after raising HK$12.36 billion ($1.59 billion) in one of the city’s largest listings this year.Shares were priced at HK$21.30 apiece. The listing adds to a pickup in Hong Kong equity fundraising, following recent sizable offerings such as Zijin Gold International’s $3.2 billion initial public offering on Sept. 30.Sany’s Shanghai-listed stock has gained over 35% so far this year.…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves: Stocks were rallying to start the week, with all three major stock benchmarks — the Dow , the S & P 500 , and the Nasdaq — hitting new, all-time intraday highs. A cooling of trade tensions between the U.S. and China is a big part of the market rally after the world’s two biggest economies agreed on a framework for a deal to avoid increased tariffs. A flurry…
President and CEO of Saudi’s Aramco, Amin H. Nasser, speaks during the Future Investment Initiative (FII) in Riyadh, Saudi Arabia October 29, 2024. Hamad I Mohammed | ReutersThink of Saudi Arabia and the first thing that comes to mind might be its massive, oil-derived wealth.While oil continues to drive Saudi Arabia’s economy, the kingdom is now expanding into areas such as artificial intelligence, tourism and sports to diversify its growth avenues.According to Saudi Arabia’s Minister for Investment Khalid Al Falih, more than half — 50.6% — of the Saudi economy is now “completely decoupled” from oil.”This percentage is growing,” Al…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s “Fast Money” team discusses the day’s market action and the semiconductor stocks that lead markets higher after Qualcomm announced it will release new AI accelerator chips, competing against Nvidia’s market dominance. Source link
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, bitcoin and other cryptocurrencies rise after the U.S. and China agree on a trade deal framework. Senate democrats also rally colleagues to join a resolution condemning the president’s pardon of Binance founder Changpeng Zhao. Lastly, CleanSpark CEO Matt Schultz discusses the company’s move to pivot from pure-play bitcoin mining to also incorporate AI.11:56Mon, Oct 27 20253:00 PM EDT Source link
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s “Fast Money” team discusses semiconductor stocks leading markets to new highs after Qualcomm’s announcement that it will release new AI chips with Gene Munster, managing partner at Deepwater Asset Management. Source link
U.S. President Donald Trump poses for a photo with China’s President Xi Jinping before their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019.Kevin Lamarque | Reuters The mere prospect of a U.S.-China trade deal is enough to send global markets higher.On Monday stateside, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite closed at record highs, as did Japan’s Nikkei 225 and South Korea’s Kospi during Asian trading hours. European stocks rose too, but the Stoxx 600 was just an inch away from its all-time high.And that’s before an agreement has been signed officially.”A…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyCNBC’s “Fast Money” team discusses retail trader sentiment with James Kostulias, head of trading services at Charles Schwab.03:153 hours ago Source link
