Investing.com– Gold prices moved in a flat-to-low range in Asian trade on Thursday, and were nursing overnight losses after less dovish signals from the Federal Reserve offset some optimism over a bumper rate cut. Strength in the pressured bullion prices, as the greenback rose sharply on bets that U.S. interest rates may not fall as much as expected in the medium to long term. The yellow metal also saw some profit-taking after hitting record highs in the run-up to Wednesday’s Fed decision. rose 0.1% to $2,561.30 an ounce, while expiring in December fell 0.5% to $2,585.65 an ounce by 00:24…
Author: user
Federal Reserve Chair Jerome Powell said the central bank believed the economy was in good shape and unemployment was still relatively low.Jose Luis Magana/APThe Fed just issued its first interest-rate cut in four years.Stocks immediately surged to record highs after the announcement before closing lower.Major indexes stayed resilient near all-time highs despite a jumbo cut already being priced in.Stocks got a brief leg up to an intraday record on Wednesday after the Federal Reserve issued its first rate cut since 2020.Major indexes then wobbled into the close, turning lower during Fed Chair Jerome Powell’s question-and-answer session. But their resilience within…
Stock chart showing rise after extended declinegetty Yes, Trump Media stock has serious negatives. The top issue is the expected selloff when the “great unlocking” (of currently unsalable shares) occurs this Friday (Sept. 20). Adding in the weak fundamentals and the stock price deterioration produces the popular view that DJT is a stock to avoid. When weak, beat-up stocks take on a widely held negative view, the price naturally is down. While the price drop then is viewed as proof of a problem stock, its continued decline can also produce a contrarian investment opportunity. Trump Media stock could be a…
Data from Kenya’s central bank show that public debt (total money owed) declined between December 2023 and June 2024. The drop in external debt – by 15.4 % – over this period does not mean that the country’s overall finances have improved. Rather, it is due to the gains in the value of the Kenyan shilling, thanks to pervasive state interventions since February 2024. So high is Kenya’s public debt that servicing it ate up 69.6% of domestic revenues as of June 2024. This is more than double the recommended limit of 30%, making the country’s public debt…
Feds cut interest rate for first time since 2020. Here’s what that could mean for your wallet. Feds cut interest rate for first time since 2020. Here’s what that could mean for your wallet. 02:45 U.S. stocks leaped to record highs Wednesday before fading after the Federal Reserve delivered an interest rate cut on the larger side of expectations, reducing its benchmark rate by 0.50 percentage points.Trading remained quiet until the Fed’s announcement at 2 p.m. Eastern time, but surged as investors assessed the central bank’s aggressive move to ease borrowing costs for consumers and businesses. The Dow Jones Industrial Average…
Sep. 18—As the owner of three businesses in Madrid, Hugh Hackett has prepared for what he described as a “speed bump in the retail road,” swapping plastic bags for paper ones.A Santa Fe County ordinance will take effect Monday largely prohibiting the use of single-use plastic and expanded polystyrene products across retail stores and restaurants in unincorporated areas, meaning operators who use plastic bags will have to switch or face penalties.”We will be ready to switch over,” Hackett said. “It’s well intentioned, and it’s not the end of the world to use paper bags.”The county is following the lead of…
Donald Trump indicated during a rally on Wednesday night that he has not read Melania Trump’s new memoir even as he pushed his followers to buy it. “People love our First Lady. Go out and get a book. She just wrote a book. I hope she said good things about… I don’t know. I didn’t… so busy,” Trump said at the Nassau Coliseum in Uniondale, New York on Long Island.He added: “She just wrote a book called Melania. Go out and buy it, and if she says bad things about me, I’ll call you all up and I’ll say, don’t…
TAIPEI (Reuters) -Taiwan’s national security team is “paying great attention” to the detonation of thousands of pagers targeting Hezbollah in Lebanon, the island’s defence minister said, after a Taiwanese firm was linked to the pagers’ production. Taiwan-based Gold Apollo said it did not manufacture the devices used in the attack, and that they were made by a Budapest-based company which has a licence to use its brand. Speaking to reporters in Taipei, Taiwan Defence Minister Wellington Koo said the government was closely watching developments. “After the news came out, my understanding is that at present the relevant national security bodies…
Undated Tupperware party in Sarasota, Florida.Tupperware — the food storage company that’s been used in households around the country since 1946 — has filed for bankruptcy.On Sept. 17, the Tupperware Brands Corporation announced it has voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. This type of bankruptcy allows debtors to reorganize their finances and assets with the help of the court to avoid shutting down.A selection of Tupperware products.According to the release, the Orlando, Florida-based company will seek approval from the court to continue operating during bankruptcy proceedings and plans to continue selling…
Federal Reserve Chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayA jumbo-sized 50-point cut The U.S. Federal Reserve slashed rates by half a percentage point,…