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 …
Gold and Bitcoin Surge in Asian Trading as Fed Watch Begins (Bloomberg) — Gold surged to a fresh record and Bitcoin pierced $40,000 in Asian trading as markets shrugged off Federal Reserve Chair Jerome Powell’s reminder that policymakers are in no hurry to ease interest rates. Most Read from Bloomberg The precious metal jumped as …
(Bloomberg) — Gold Surges to New All-Time High, Defying Fed’s Attempt to Temper Optimism Gold skyrocketed past its previous all-time high set during the pandemic, fueled by growing expectations for US rate cuts in early 2024. Despite the Federal Reserve’s efforts to temper optimism, the precious metal surged more than 3% in early trading on …
US stocks enjoyed a surge on Friday, capping off a stellar November despite a warning from Federal Reserve Chair Jerome Powell that rate hikes may not be over. The S&P 500 rose 0.6% to a 2023 closing high, the Dow Jones Industrial Average increased 0.8%, and the tech-heavy Nasdaq Composite advanced 0.5%. Investors adjusted to …
US stocks surged on Friday afternoon, adding to a strong November despite a warning from Federal Reserve Chair Jerome Powell about potential interest rate hikes. The S&P 500 (^GSPC) climbed by around 0.6%, hitting a new closing high for 2023, while the Dow Jones Industrial Average (^DJI) rose nearly 0.8%, or almost 300 points. The …
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 Chair Jerome Powell sent a renewed caution to investors who expect the Fed to halt rate hikes and transition to cutting interest rates. He emphasized that the central bank needs more proof that inflation is on track to reach the Fed’s 2% target. Jerome Powell, chairman of the Federal Reserve. (Photo by Celal …
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. …
European stocks rose, and US Treasuries remained steady before a speech from Federal Reserve Chair Jerome Powell that could provide insight into the direction of interest rates. The Stoxx 600 index gained 0.4%, while Nasdaq futures slipped. The dollar also edged lower against other major currencies. Crude oil prices declined despite OPEC+ discussing supply cuts, …
An in-depth analysis of the upcoming day in global and European markets by Ankur Banerjee After an incredibly successful November, investors are eagerly anticipating a positive start to December in Europe. They have high hopes that central banks will begin to cut rates, but a “fireside chat” with Fed Chair Jerome Powell could potentially disrupt …