The Daily

WASHINGTON – Traders pared back their expectations for an interest-rate cut in December after Federal Reserve chairman Jerome Powell said economic resilience gives officials room to ease more carefully.

Swaps traders lowered the chance to less than 60 per cent that the central bank reduces rates at their two-day gathering that wraps on Dec 18 –

 » Read more about: Fed chairman Jerome Powell calls US the best-performing major economy in the world  »

Nvidia reports its much-awaited third-quarter results next Wednesday after the market close. Shares are in a buy zone. Technically, that makes Nvidia stock a buy. But investors who follow the IBD Methodology and realize there’s earnings risk are wondering, should they buy the stock now? On Thursday, chip lithography gear maker, ASML maintained its 2030 sales target of $46.

 » Read more about: Nvidia Rises As All-Important Chip Leader Signals Bullish Way Forward For Blackwell; Is Nvidia A Buy Now?  »

The Kansas City Live! entertainment block and venue in downtown’s Power & Light will get a $10 million facelift over the next few months.

The Cordish Companies, the real estate company that owns the Power & Light district, will pay for the updates. Improvements are underway and slated for completion next March, before the Big 12 Men’s Basketball Tournament kicks off at the T-Mobile Center.

 » Read more about: Power & Light developers will invest $10 million to give KC Live! a major facelift  »

 » Read more about: S&P 500 Gains and Losses Today: Government Contractors Lose Ground, Tapestry Rises  »

 » Read more about: Barita Investments boosts Project Star with $10 million contribution  »

American Funds American Balanced R6

7.96 3.9 Bil

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American Funds American Mutual R6

7.07 3.5 Bil

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American Funds Capital World Gr&Inc R6

7.03 3.5 Bil

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American Funds Growth Fund of Amer R6

6.08 3.0 Bil

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American Funds Fundamental Invs R6

6.06 3.0 Bil

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American Funds AMCAP R6

6.05 3.0 Bil

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American Funds Washington Mutual R6

5.10 2.5 Bil

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American Funds US Government Sec R6

4.98 2.5 Bil

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American Funds Global Balanced R6

4.98 2.5 Bil

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American Funds Inflation Linked Bd R6

4.88 2.4 Bil

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 » Read more about: American Funds 2035 Trgt Date Retire R6  »

By ALEX VEIGA

The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb.

The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.4%.

 » Read more about: US mortgage rates dip, but economists see volatility ahead  »

• The oil market could see a surplus of one million barrels of crude a day in 2025, the IEA forecast.
• The excess will be driven by low demand in China and booming output from non-OPEC countries.
• Non-OPEC producers are on track to expand production by 1.5 million barrels a day,

 » Read more about: China's weak economy and record US production will lead to a surplus of one million barrels of oil a day next year, IEA says  »

By Nirvikar Singh

The importance of the recent US elections for India cannot be overstated. The political landscape in the US has shifted dramatically. Donald Trump is not just an America-first ideologue, though that has been a part of his thinking for decades. He is also driven completely by self-interest,

 » Read more about: India and the US elections  »

The News

US Federal Reserve employees overwhelmingly donate to Democratic causes, according to data originally posted on X by a former Fed trader and verified by Semafor. That may not be so surprising, given most Fed employees live in cities, which lean left.

Know More

When inevitably brought to President-elect Donald Trump’s attention — among its amplifiers are some MAGA faithful — the data will provide more fodder for his efforts to exert control over the central bank or even fire its leader,

 » Read more about: Federal Reserve employees overwhelmingly donate to Democratic causes  »