Musk believes Buffett is ‘preparing’ for a Harris presidency as he sells stocks and grows cash pile to $277B
‘He is clearly expecting a correction of some kind,’ Musk previously warned.
Crypto Majors BTC, ETH, XRP Little Changed as HBO Calls Peter Todd the Bitcoin Creator
A compelling expose could have impacted bitcoin and the broader market’s prices, but the crypto community is largely brushing off HBO’s hyped documentary.
Stock Market Today: Stocks slip as China slumps, Google stock slides
Markets will look to the release of minutes from the Fed's September policy meeting later in the session.
Futures slip as markets await Fed minutes; Alphabet drops
Shares of Alphabet fell 1.4% in premarket trading after the U.S. Department of Justice said it may ask a judge to force Google to divest parts of its business, including the Chrome internet browser and Android operating system. Indexes closed higher on Tuesday, recovering from Monday's selloff, with technology stocks leading the gains as U.S. Treasury yields eased. Minutes from the Fed's September meeting, when policymakers kicked off policy easing with a 50-basis-point rate cut, are due later in the day.
Fed September minutes may show whether 50 bps rate cut was a slam dunk or a hard sell
Minutes of the U.S. Federal Reserve's half-a-percentage-point rate cut last month, to be released on Wednesday, may provide a final word on just how divided policymakers were over a decision that took many economists by surprise and sparked the first dissent from a member of the Board of Governors in 19 years. Fed chair Jerome Powell in his post-meeting press conference said there was "broad support" for the half-point cut, with even dissenting Governor Michelle Bowman agreeing it was time to ease monetary policy but preferring to start with a smaller quarter-point reduction as a hedge against inflation risks she is not convinced have been fully tamed. Yet Powell also acknowledged a "good diversity of excellent discussion" about the decision, while projections issued by Fed policymakers about what would happen over just the next three months were unusually dispersed.
US bank profits to shrink on interest income, focus shifts to Fed cuts
NEW YORK (Reuters) -JPMorgan Chase and Wells Fargo kick off earnings for the sector on Friday, and investors are expected to focus on the big banks' forecasts for net interest income after strong jobs data fueled uncertainty about the path of future Federal Reserve rate cuts. Both banks are expected to report lower profits for the third quarter after interest income may shrink while loan demand remained subdued. The sector reaped a windfall in net interest income (NII), or the difference between what they earn on loans and pay out for deposits, in recent years as the Fed raised rates.
'No landing' chatter returns as markets question inflation's defeat: Morning Brief
The stock market is back to thinking about the "no landing" scenario. It's not as undesirable as a hard landing, but an overheating economy clouds the picture for investors.
China markets plunge on Beijing stimulus disappointment
Shares in mainland China plunged as traders expressed their disappointment with the lack of new stimulus. The U.S. government's possible attempt to break up Google weighed on tech.
Stocks Slip on Google Breakup Risk, Rates Outlook: Markets Wrap
(Bloomberg) -- US futures slipped Wednesday, pressured by news that US authorities are weighing an antitrust crackdown on Google-owner Alphabet Inc., as well as signs the Federal Reserve will proceed gradually with interest-rate cuts.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by
Emerging-Market Stocks Head for Biggest 2-Day Loss Since August
(Bloomberg) -- Emerging-market stocks fell for a second day as concerns accumulated over China’s response to the weakness in the world’s no. 2 economy. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould Evictions Be Banned After Hurricanes and Climate Disasters?M