U.S. dollar bills.Nurphoto | Nurphoto | Getty Images U.S. stocks mostly eked out slim gains overnight, as investors look past Moody’s downgrade of the U.S.’ credit rating last Friday. This extends the markets’ rally from last week on the U.S.-China’s temporary trade truce.But there are dark clouds on the horizon. Moody’s downgrade continues to grip the bond market with the 30-year Treasury yield surging past 5% Monday, hitting levels not seen since November 2023. Bridgewater Associates founder and billionaire Ray Dalio warned that the U.S.’s lower sovereign credit rating understates the threat to U.S. Treasurys, saying the credit agency isn’t taking into…
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Swiss Life first-quarter income jumpsInsurer Swiss Life said in a trading update on Tuesday that its fee income rose 3% year on year in the first quarter of 2025, reaching 659 million Swiss francs ($791 million).Its premiums also rose by 6% from the previous year to 7.9 billion Swiss francs.The company said its rising fee income was mainly due to strong performance across its own and third-party products and services, as well as the strength of its Swiss Life Asset Managers division.— Chloe TaylorBritish pound extends gainsThe British pound was 0.2% higher against the U.S. dollar at 6:29 a.m. in…
Novo Nordisk’s ousting of longtime CEO Lars Fruergaard Jørgensen bemused analysts, with many questioning the future of the Wegovy obesity drug maker. Source link
Stock futures slipped early Tuesday as Wall Street waits to see if last week’s market rally can find new momentum.S&P 500 futures lost 0.16%. Nasdaq 100 futures were down 0.23%, while futures tied to the Dow Jones Industrial Average lost 29 points, or 0.07%.The moves in futures follow a relatively calm trading session on Monday that saw the S&P 500 grind higher by 0.09% for its sixth straight positive session. The Dow gained about 137 points, or 0.32%, while the Nasdaq Composite ticked up just 0.02%.While Monday’s gains were marginal, they do add to what has been a rapid and…
Michele Bullock, governor of the Reserve Bank of Australia (RBA), speaks during a news conference at the bank’s head office in Sydney, Australia, on Tuesday, Apr. 1, 2025. Bloomberg | Bloomberg | Getty ImagesAustralia’s central bank cut its policy rate by 25 basis points to the lowest in two years as inflation concerns in the country continue to recede, giving room for the bank to ease monetary policy.The Reserve Bank of Australia cut the benchmark rate to 3.85%, its lowest level since May 2023, in line with expectations from economists polled by Reuters.Australia’s inflation has been on a downtrend, with…
Sen. Ted Cruz (R-TX) (C) congratulate U.S. first lady Melania Trump before President Donald Trump signs the TAKE IT DOWN Act during a ceremony with deepfake victims and members of Congress in the Rose Garden of the White House on May 19, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty ImagesPresident Donald Trump signed legislation Monday that bans the nonconsensual online publication of sexually explicit images and videos that are both authentic and computer-generated.The Take It Down Act makes publishing such content illegal, subjecting violators to mandatory restitution and criminal penalties such as prison, fines or both. The bill also establishes…
Ford Motor has killed a program to develop next-generation electrical architecture – the brain of modern cars – that its executives have called pivotal to competing with electric-vehicle pioneers such as Tesla, three sources familiar with the matter told Reuters.Ford had invested heavily in the system, known internally as FNV4 (for fully-networked vehicle), to streamline vehicle-software functions. The goal was to cut costs, improve quality and add profitable features in both electric and gasoline-powered vehicles.The project was abandoned because of ballooning costs and delays, the sources said.A Ford spokesperson said the company will absorb what it learned from developing FNV4 into its current software system,…
Sen. Mark Warner of Virginia was one of the Democrats involved in bipartisan negotiations over the GENIUS Act.Kayla Bartkowski | Getty Images News | Getty ImagesThe Senate advanced a major cryptocurrency regulation bill Monday on a bipartisan vote two weeks after every Senate Democrat united to block it. The procedural vote on the GENIUS Act — which would establish the first regulatory framework for issuers of stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar — was 66-32. Sixteen Democrats voted with the majority of Senate Republicans to advance the bill. Two Republicans, Sens. Rand Paul of Kentucky and Jerry…
U.S. dollar bills.Nurphoto | Nurphoto | Getty Images U.S. stocks mostly eked out slim gains overnight, as investors look past Moody’s downgrade of the U.S.’s credit rating last Friday. This extends the markets’ rally from last week on the U.S.-China’s temporary trade truce.But there are dark clouds on the horizon. Moody’s downgrade continues to grip the bond market with the 30-year Treasury yield surging past 5% Monday, hitting levels not seen since November 2023. Bridgewater Associates founder and billionaire Ray Dalio warned that the U.S.’s lower sovereign credit rating understates the threat to U.S. Treasurys, saying the credit agency isn’t taking into…
The ‘Fast Money’ traders discuss their takeaways from JPMorgan’s Investor Day and Jamie Dimon’s comments. Source link
