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…
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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…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Bitwise’s Matt Hougan joins from Future Proof 2024 to discuss institutional bitcoin adoption and trends in portfolio allocations for the cryptocurrency. Source link
Check out the companies making headlines in midday trading: Hewlett Packard Enterprise — The tech hardware stock jumped 6% after Bank of America upgraded the stock to a buy rating from neutral. The Wall Street firm believes the stock’s valuation is now “compelling,” while highlighting a slew of positive catalysts including new Chief Financial Officer Marie Myers’ possible cost-cutting initiatives and a cyclical recovery across servers, storage and networking. Microsoft — The stock moved 1% higher following the tech giant’s quarterly dividend hike. The company increased it 10.7% to 83 cents per share, which will be payable Dec. 12. Microsoft…
The stage is set for the Federal Reserve to cut interest rates Wednesday, and the stock market may just be positioning itself for a letdown. Last week, markets expected a quarter-point rate cut and were just happy that the Fed was starting the cutting cycle. Since then, stocks have ramped up to an all-time high, with the S & P 500 and the Dow Jones Industrial Average hitting fresh records during Tuesday’s session. .SPX YTD mountain S & P 500, YTD And fed funds futures now point a majority of traders seeing a half point cut. Even though most Fed…
Federal Reserve Chairman Jerome Powell takes a question from a reporter during a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. Andrew Harnik | Getty ImagesFor all the hype that goes into them, Federal Reserve meetings are usually pretty predictable affairs. Policymakers telegraph their intentions ahead of time, markets react, and everyone has at least a general idea of what’s going to happen.Not this time.This week’s gathering of the central bank’s Federal Open Market Committee carries an uncommon air of mystery. While markets…
Republican presidential nominee and former U.S. President Donald Trump addresses the Fraternal Order of Police at their meeting in Charlotte, North Carolina, U.S. September 6, 2024. Jonathan Drake | ReutersTrump Media breached an agreement with one of the investors that helped the company go public, and must grant the investor a larger share of its stock, a judge ruled.The order in Delaware Chancery Court on Monday came just three days before the investor, ARC Global, and other insiders — including majority-owner Donald Trump — will be free to start selling their shares in the company behind Truth Social.If those insiders opt to cash out…
