S&P 500 Gains and Losses Today: Salesforce Stock Pops as AI Offering Impresses
The S&P 500 added 0.6% on Wednesday, with tech stocks leading the way higher as investors parsed comments from Fed Chair Jerome Powell.
Fed’s Powell Expects Good Relations With Trump Administration
(Bloomberg) -- Federal Reserve Chair Jerome Powell downplayed the prospects of tension with the incoming Trump administration and said he expects officials can move cautiously as they continue lowering interest rates.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“We can afford to be a little more cautious as we try to find neutral,” Powell said in reference to the level for rates that neither sp
Fontainebleau Miami Beach to Borrow $975 Million in Bond Market
(Bloomberg) -- Fontainebleau Miami Beach, a luxury hotel founded in the 1950s, plans to sell a $975 million commercial mortgage-backed security to refinance its debt. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIt seeks to raise around $1.2 billion in debt financing, including the CMBS and a mezzanine loan of as much as $225 million, according to deal documents.Jeffrey Soffer, the indirect maj
Energy CEO Who Drank Fracking Fluid Is Now Trump’s Oil Evangelist
(Bloomberg) -- Standing shoulder to shoulder with his employees, Chris Wright, chief executive officer of oilfield services company Liberty Energy Inc., held up his glass in a toast.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“To your health and the longer lives and healthier lives of billions of people around the world from oil and gas,” Wright said. Then he gulped down a shot of fracking flu
Oil Slides With Traders Focused on Demand Ahead of OPEC+ Meeting
(Bloomberg) -- Oil fell 2% to settle below $69 a barrel as tepid US economic data undercut OPEC+’s progress on a deal to keep output constrained. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe decline comes after crude futures tested their 50-day moving average, a key level that had spurred some technical buying. But slowing US services activity growth and swelling fuel stockpiles — both sign
Powell says Fed can afford to be a little more cautious
NEW YORK (Reuters) -U.S. Federal Reserve Chair Jerome Powell on Wednesday said the economy is stronger now than the central bank had expected in September when it began reducing interest rates, and appeared to signal his support for a slower pace of interest-rate cuts ahead. “The U.S. economy is in very good shape and there’s no reason for that not to continue ...the downside risks appear to be less in the labor market, growth is definitely stronger than we thought, and inflation has come in a little higher," Powell said at a New York Times event. His remarks during a wide-ranging half-hour interview that touched only lightly on monetary policy and the economy are likely his last before the Dec. 17-18 policy meeting, as the quiet period when Fed officials refrain from speaking about monetary policy ahead of a meeting starts on Saturday.
Ethereum Outshines Bitcoin as Crypto Market Hits 'Extreme Greed' Levels
The Crypto Fear & Greed Index has risen to "Extreme Greed".
Ether Rises 8% Amid Slumping Bitcoin Dominance
Fed Chair Jerome Powell said bitcoin is competing against gold, not the U.S. dollar, in an appearance on Wednesday.
Bitcoin Resumes Rise After Digital Proponent Selected for SEC
(Bloomberg) -- Cryptocurrency speculators kept Bitcoin in sight of the landmark $100,000 after digital-asset proponent Paul Atkins was selected by US President-elect Donald Trump to lead the Securities and Exchange Commission.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe original digital asset erased earlier losses to trade about 1% higher at around $97,300 as of 2:58 p.m. Wednesday in New Y