According to Paul Gambles, managing partner at MBMG Group, the Fed is slow to cut rates. Traders are pricing in a 25-basis-point cut as early as March 2024. Veteran investor David Roche predicts that the Fed is finished raising rates and inflation will remain above 2%. To prevent a recession, portfolio manager Paul Gambles believes …
Check out the companies making headlines before the bell: Coinbase — Crypto-related assets surged after Bitcoin topped $40,000 for the first time this year. Coinbase jumped 7%, MicroStrategy gained 7% and Marathon Digital climbed 13%. Uber Technologies — The ride-hailing stock rose 4% after S & P Dow Jones Indices on Friday said it will …
An Hour Ago Mixed Open for Europe The pan-European Stoxx 600 hovered just below the flatline in early trade, with mining stocks shedding 1.5% to lead losses while retail stocks added 0.8%. 3 Hours Ago Global Debt’s Worrying Trend Veteran investor David Roche expressed concern about the escalating global debt, but suggested it may not …
The President of the UNFCCC COP28 climate conference, Sultan al-Jaber, delivered a significant speech at the summit on December 2, 2023, in Dubai, United Arab Emirates. The conference has brought the longstanding debate over the fate of fossil fuels into the limelight. For the past three decades, policymakers representing nearly 200 countries at the U.N.’s …
“Facebook’s parent company, Meta, held an event in San Francisco this week celebrating the 10-year anniversary of its Fundamental AI Research team. Meta’s chief scientist, Yann LeCun, revealed that society is more likely to witness “cat-level” or “dog-level” AI in the coming years than human-level AI. Unlike tech giants such as Google and Microsoft, Meta …
Tesla CEO Elon Musk stole the show when he unveiled details about the company’s innovative Cybertruck in Austin, Texas, just a day after his eccentric appearance at the DealBook Summit in New York where he claimed, “It will be the biggest product launch of anything by far on Earth this year.” In a dimly lit …
Manufacturing Data Signals Economic SlowdownLatest data shows a continued economic slowdown in the US, with the Institute for Supply Management’s manufacturing PMI remaining unchanged at 46.7 in November. This marks the 13th consecutive month of PMI slumps, indicating a deceleration in manufacturing activity. According to analysts, this data signifies another indicator of an emerging economic …
Federal Reserve Chairman Jerome Powell on Friday downplayed aggressive interest rate cuts, hailing their premature declarations as confounding, adding it’s too soon to speculate when policy might ease. Powell in his speech said that the current inflation levels are still “well above” the central bank’s goal, refuting any notion of a sufficiently restrictive stance achieved. …
Apple’s impressive stock price over the last couple of decades has been propelled by its groundbreaking consumer tech, beginning with the iPod and iMac, then progressing to the iPhone and iPad, and more recently to the Apple Watch and AirPods. But beyond the iconic gadgets, Apple is harnessing its technological expertise to design custom chips …
European Council President Affirms EU Already Has ‘Association Agreement with Ukraine’ to Hungary’s Disapproval In a recent interview with Reuters, European Council President Charles Michel claimed that the EU already has an “association agreement” with Ukraine, as the Hungarian Prime Minister Viktor Orban called for a “strategic partnership” to be established before talks on Kyiv’s …