Federal Reserve Delivers Bold 0.5% Interest Rate Cut, Signals Further Easing Ahead (UPDATED)Editor’s note: This story has been updated with additional details. The Federal Reserve slashed interest rates by 50 basis points Wednesday at its September Federal Open Market Committee meeting, lowering the federal funds rate to a range of 4.75% to 5%. This marks the first rate cut in over four years and breaks a streak of 12 consecutive months with rates held steady.The decision caught Wall Street analysts off guard who had largely anticipated a more modest 25-basis-point cut. The larger reduction resonated with investor sentiment, which had…
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Why Sirianni is even ‘more convicted’ in late-game strategy vs. Falcons originally appeared on NBC Sports PhiladelphiaEagles head coach Nick Sirianni has come under fire for his late-game decision-making in the Eagles’ 22-21 loss to the Falcons on Monday Night Football.He knew it was coming.“It’s the business that we chose, however you want to say it,” Sirianni said on Wednesday afternoon. “And so I’ll gladly take the criticisms because I know they’re coming.”But on Wednesday, Sirianni doubled down on those decisions.As a reminder, the Eagles were driving down the field up 3 points late in the fourth quarter on Monday…
We recently published a list of 10 AI News and Analyst Ratings You Should Not Miss. Since NVIDIA Corporation (NASDAQ:NVDA) ranks 3rd on the list, it deserves a deeper look.While everyone is talking about rate cuts, some analysts are questioning whether it was necessary even to start cutting rates at this time. Latest data released on Tuesday showed retail sales in the US rose while Wall Street analysts were expecting to see a decline. Oksana Aronov, JPMorgan Asset Management head of market strategy for alternative fixed income, said while talking to CNBC that rate cuts are not even warranted as she thinks…
With the Federal Reserve rate-cutting cycle expected to begin and the November election just around the corner, now could be a good time to invest in municipal bonds. For one, they are a way to lock in yield as interest rates fall. “Municipals are a great way to do that, given the tax-exempt nature, and given that a lot of municipals are longer maturity and longer duration,” said Matthew Norton, chief investment officer for municipal bonds at AllianceBernstein. Duration is a measurement of a bond’s price sensitivity to fluctuations in rates, and longer-dated issues tend to have greater duration. “Once…
In the heart of Texas, a peculiar automotive enigma has been puzzling enthusiasts for years. A 1948 Tucker Convertible, a one of a kind vehicle with a shadowy past, has been listed for sale at a staggering price. Despite years of attempts, no dealership has managed to find a buyer. The car’s existence itself is shrouded in doubt, as it seems to defy all known records and historical accounts. The Tucker Automobile Company, known for its innovative sedan design, never officially planned or produced a convertible model. However, rumors of a secret project, codenamed “Vera,” have persisted. It is believed…
Building on rapid growth in crypto CFD volumes, Wintermute’s OTC platform, NODE, now supports CFD trading and enables trading of GMCI indices as CFDs SINGAPORE, Sept. 18, 2024 /PRNewswire/ — Wintermute Asia Pte. Ltd (“Wintermute”), the digital asset derivatives trading arm of Wintermute Group, the leading global algorithmic trading firm, and liquidity provider in digital asset markets, today announced major updates to its CFD offering, including making it available for trading on its electronic OTC trading platform, Wintermute NODE. The updates further expand Wintermute’s OTC derivatives offering with the introduction of GMCI index trading as an instrument for contracts for differences (CFDs), marking…
Climate change came across as an afterthought in the presidential debate between Vice President Kamala Harris and former President Donald Trump last week. At 92 minutes into the debate, ABC News anchor Linsey Davis asked the sole question addressing it directly, with answers from Harris and Trump lasting less than three minutes.Despite this brevity, the candidates both still managed to introduce misleading information about climate threats and action in their responses to this and several other questions. With Arizona voters having just weathered their hottest summer on record — and Maricopa County on track to continue its upward trend in…
Conference season brings about its own set of volatility catalysts. Portfolio managers and traders must keep their ears out for clues on the state of the broad economy, specific industries and individual companies. That’s not a bunch of fluff just take a look at what happened to shares of Ally Financial (NYSE:ALLY) last week. On Sept. 10, the $10 billion market cap consumer finance industry stock endured its worst session since March 2020.1Cautious comments from Chief Financial Officer Russ Hutchinson at the Barclays 22nd Global Financial Services Conference resulted in intense selling pressure on ALLY as fears rose that auto…
The investment industry is undergoing a transformation that is largely attributable to technological advancements. Investment professionals are integrating new technologies, such as machine learning (ML), across the investment process, including portfolio construction. Many asset managers are beginning to incorporate ML algorithms in the portfolio optimization process seeking more efficient portfolios than would be possible under traditional methods, such as mean-variance optimization (MVO). These trends necessitate a fresh look at how ML is altering the portfolio construction process. Investors will benefit from a basic understanding of ML algorithms and the impact these algorithms have on their portfolios. Ultimately, the strategies used…
In March, federal agents searched the Miami and Los Angeles homes of Sean “Diddy” Combs for evidence of the music industry icon’s alleged involvement in a sex trafficking scandal.Combs was arrested Monday and charged with racketeering, sex trafficking and transportation to engage in prostitution, according to an unsealed indictment against him by the U.S. Attorney’s Office for the Southern District of New York Tuesday.Combs has pleaded not guilty and is being denied bail.Here’s what we know.Who is Sean ‘Diddy’ Combs?Sean Love Combs, 54, also known as P. Diddy, Puff Daddy or Diddy, is an R&B artist, rapper and record producer and executive.…