Federal Reserve Board Gov. Michelle Bowman recently expressed her hesitation in endorsing an interest rate cut at the upcoming Federal Open Market Committee meeting. She highlighted concerns about the persistently high price growth and the potential for inflation to rise further. This cautious approach signifies a departure from the expectation of a rate cut by
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As investors navigate through the $12 billion new-issue calendar for this week, a significant portion of the debt available comes from New York City. With a deal size of $1.8 billion, this offering is the largest on the calendar and follows the city’s $1.2 billion refunding issuance in July. The New York City debt offering
Lowe’s recently announced a revision to its full-year forecast, citing a decline in quarterly sales and anticipating weaker spending on do-it-yourself projects. The company now expects total sales to range between $82.7 to $83.2 billion for the year, a decrease from the initial forecast of $84 billion to $85 billion. As part of the revised
Analysts at Wells Fargo have named Eli Lilly as a top pick within the biotechnology sector, citing improved supply and tailwinds from key drug trials as growth drivers for the company. Despite a significant surge in its stock price this year, Wells Fargo believes that Eli Lilly still has room for growth, especially as key
The recent wobbling of the dollar near a seven-month low has sparked speculation among traders regarding potential rate cuts from the U.S. central bank. As investors anticipate Federal Reserve Chair Jerome Powell’s comments on Friday, the market is bracing for a shift in interest rates. This uncertainty has led to the euro reaching its highest
In a recent announcement, PEXX, an innovative fintech startup specializing in stablecoin cross-border payments, revealed its acquisition of the Singapore-based blockchain media platform, Chain Debrief. This strategic move comes on the heels of PEXX’s successful fundraising of $4.5 million led by TNB Aura and ANTLER. The acquisition of Chain Debrief represents a significant milestone in
Colorado Governor Jared Polis has announced a special legislative session on August 26 to address proposed ballot initiatives that could have a negative impact on public financing, education, and local government funding in the state. These initiatives threaten to reduce funding for K-12 and higher education, prompting the governor to take action to safeguard critical
The recent fluctuations in the Japanese yen have caught the attention of market participants and policymakers alike. The cat-and-mouse game between speculators and Japan’s authorities has led to significant volatility in the currency markets. While the yen’s slide to near four-decade lows may have initially provided some relief, it has also raised concerns about the
Michael Saylor, co-founder and chairman of MicroStrategy, recently made waves in the crypto community with a simple tweet: “Behold Bitcoin.” This message comes at a time when Bitcoin is experiencing a period of consolidation, trading around the $60,000 to $62,000 range. Despite the brevity of Saylor’s tweet, the timing and context carry significant weight in
United Auto Workers President Shawn Fain recently released a video where he strongly criticized Stellantis CEO Carlos Tavares. Fain accused Tavares of price gouging consumers and failing to honor parts of the union’s labor contract with the automaker. This video marks the latest development in an ongoing dispute between the CEO and the union leader