Fed lowers interest rates as it struggles to assess state of US economy without key government data
When it comes to setting monetary policy for the world’s largest economy, what data drives decision-making?
In ordinary times, Federal Reserve Chair Jerome Powell and voting members of the Federal Open Market Committee, which usually meets eight times a year, have a wealth of information at their disposal, including key statistics such as monthly employment and extensive inflation data.
Read MoreMizuho Hikes Constellation Energy (CEG) PT to $390, Maintains Neutral Rating
Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!
AI is eating the world—and the machines behind it are ravenous.
Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy.
» Read more about: Mizuho Hikes Constellation Energy (CEG) PT to $390, Maintains Neutral Rating »
Read MoreWall Street dips after Trump-Xi meeting as Magnificent Seven earnings take center stage
NEW YORK (AP) — The U.S. stock market is drifting around its record heights on Thursday, as Wall Street sifts through mixed developments on everything from the U.S.-China trade war to profits for Big Tech behemoths.
The S&P 500 slipped 0.2% and edged a bit further from its all-time high set on Tuesday.
US market opens in red after mixed tech results and Powell’s comments on rate cut scenario
Wall Street stocks opened lower on Thursday after mixed results from big tech companies and comments from Fed Chair Jerome Powell that raised doubts about more rate cuts this year.
In the early hours of trading, the Dow Jones fell 196 points (0.41%) to 47,435.60, the S&P 500 dropped 35 points (0.51%) to 6,855.79,
Read MoreMizuho Hikes Constellation Energy (CEG) PT to $390, Maintains Neutral Rating
Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!
AI is eating the world—and the machines behind it are ravenous.
Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy.
» Read more about: Mizuho Hikes Constellation Energy (CEG) PT to $390, Maintains Neutral Rating »
Read MoreThe Burst
Is SoFi Still a Buy After 2x Bull Run?
Shares of SoFi Technologies have rocketed more than 165% over the past year as the company’s fundamentals have improved dramatically. But with the stock now well above Wall Street’s targets, investors are wondering: has the market gotten ahead of itself?
Key Points
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It’s no longer just a student-loan lender,
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Read MoreThe Ivy
Beyond Meat’s Shocking Rebound
Few investors saw it coming. After spending most of the year circling the drain, Beyond Meat suddenly roared back to life last week, climbing more than 5x from its October lows.
At one point, the stock traded below $1, a price level that had many wondering if bankruptcy was next. Then came an eruption of retail enthusiasm that sent shares briefly rocketing toward $8.
» Read more about: Beyond Meat’s Shocking Rebound »
Read MoreThe Spotlight
Billionaire Dumps Popular AI Stock
In the second quarter, billionaire Steven Cohen exited its entire position in SoundHound AI, a company once touted as one of the purest ways to invest in voice-driven artificial intelligence.
The move came after SoundHound’s stock had surged more than 3x in a year as investors piled into anything labeled “AI.”
So why would one of Wall Street’s most sophisticated investors bail out just as the hype peaked?