Federal Reserve Board Chairman Jerome Powell, in a speech at Spelman College in Atlanta, dismissed market expectations for aggressive interest rate cuts as premature. Powell emphasized that the Federal Open Market Committee intends to keep policy restrictive until inflation is solidly back to 2%. He also stated that they are prepared to tighten policy further…
Stock Market Update: Midday Trading Report Several companies are making headlines in midday trading. Here are the latest updates: Tesla – Shares slipped slightly as Wall Street assesses the long-anticipated Cybertruck following a delivery launch event in Texas. Disney – Shares remained flat after the entertainment giant reinstated its dividend at 30 cents per share…
Inflation measured by personal spending rose in October in line with expectations, potentially signaling to the Federal Reserve to hold interest rates steady and consider cutting in 2024, data released on Thursday showed. The personal consumption expenditures price index, excluding food and energy prices, increased by 0.2% for the month and 3.5% year-over-year, according to…
The Federal Reserve’s Marriner S. Eccles building is currently undergoing renovations in Washington, DC. The anticipation of future rate cuts from the Federal Reserve is a crucial topic for markets, which may occur within the upcoming year. This potential action will likely be in response to a decelerating economy, heightening unemployment rates, and lower inflation….
Toyota’s stock increased by 1.3% before the bell after news that the automaker intends to reduce its holdings in automotive components manufacturer Denso to 20% from over 24%. The capital from this move will be redirected to strengthen its efforts in electric vehicles. AstraZeneca’s shares gained nearly 2% in premarket trading after TD Cowen listed…
Okta Data Breach Exposes Customers to Increased Cybersecurity Risks In a recent letter to clients, cybersecurity firm Okta admitted that hackers who compromised their customer support system stole data from all users, a far more significant breach than initially believed. This expanded scope now puts customers at risk of heightened attacks or phishing attempts, according…
Anson Funds pushes for sale of Twilio, builds $50 million stake: Sources Activist investor Anson Funds has built a stake in Twilio and sent a letter to the enterprise software company’s board pushing for the sale of the entire business, a person familiar with the matter told CNBC. Twilio shares rose around 3% on the…
Israel and Gaza remain at the center of international attention as Tzachi Hanegbi, Israel’s National Security Council Director, announced that the release of hostages from Gaza will be postponed until Friday. The exchange will see 50 Hamas hostages exchanged for a number of Palestinian prisoners held in Israel. The delay in the release comes after…
Sam Altman, who is a US entrepreneur, investor, programmer, and founder and CEO of OpenAI, has returned as the CEO after several days of crisis and tumult. The previous leadership that ousted Altman has been replaced by three new board members, leaving the new board to be fully built. Negotiations are said to be underway…
Putin: Russia and neighbors in anti-terrorism alliance Russian President Vladimir Putin announced that the Collective Security Treaty Organization (CSTO) was unified in their efforts to combat terrorism. The most recent CSTO summit in Belarus saw the leaders of these post-Soviet states come together to work on counter-terrorism efforts. “Operation Mercenary” aims to prevent citizens of…
