Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.
The first human bird flu death in the US has Moderna's vaccine development in focus for investors this week.
Coinbase and the SEC have been locked in legal proceedings about whether the crypto exchange is violating securities laws.
Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes. Minutes from the meeting, released after the typical three-week lag, also showed clear division among the Fed's 19 policymakers. Ultimately, the Fed choose to cut its key rate by a quarter-point to about 4.3%.
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The Treasury has been forced to intervene to stabilise financial markets amid growing concern over the impact of Rachel Reeves’s Budget and a surge in borrowing costs.
Advanced Micro Devices shares fell Wednesday after HSBC analysts gave the stock a double downgrade, citing concerns about its artificial intelligence revenue.
Several stocks across the quantum computing industry fell sharply Wednesday after Nvidia CEO Jensen Huang said the technology is likely still years away.
The economy has been running hotter than expected lately, raising the possibility that the Federal Reserve will hold interest rates higher for longer, and may not even cut interest rates in 2025 as policymakers had predicted.
Wall Street's biggest banks have pushed back the expected endgame for the Federal Reserve's ongoing efforts to shrink the size of its balance sheet, according to meeting minutes for the Federal Reserve's most recent policy meeting. Banks told the Fed ahead of the December policy meeting that they saw this process ending in June of this year, a little later than what they had told the Fed ahead of the November policy meeting, the minutes of the December Federal Open Market Committee meeting said, recounting a briefing by a New York Fed official responsible for implementing monetary policy. The Fed's most recent meeting, held on Dec. 17-18, saw officials trim their interest rate target range by a quarter percentage point to between 4.25% and 4.5%, cut back expectations of future rate cuts and raise their estimated path for inflation.
