Wall Street closes; hopes for a sharp Fed rate cut dampened
HISTORY: U.S. stocks closed higher on Wednesday, thanks to a rebound in technology stocks and despite inflation data that dampened investor sentiment earlier in the session. The Dow gained three-tenths of a percent, the S&P 500 climbed one percent and…
Pimco expects BoJ to raise interest rates as early as January and favors long-term Japanese bonds
(Bloomberg) — Pacific Investment Management Co.’s Japan subsidiary expects the central bank to raise interest rates again in January and is prepared to actively invest in ultra-long-dated government bonds whose yields have risen to more attractive levels. Most read by…
Technology stocks lead rally after inflation data sets CPI table
It was a shocking announcement from Starbucks early Tuesday morning after the struggling coffeehouse chain announced that Chipotle (CMG) Chairman and CEO Brian Niccol will become its next CEO, effective September 9. Niccol takes over the position from Lax Narasimhan,…
Technology stocks lead rally after inflation data sets CPI table
It was a shocking announcement from Starbucks early Tuesday morning after the struggling coffeehouse chain announced that Chipotle (CMG) Chairman and CEO Brian Niccol will become its next CEO, effective September 9. Niccol takes over the position from Lax Narasimhan,…
S&P 500 and Nasdaq futures point to higher as key inflation data looms
U.S. stock futures were mostly higher on Tuesday as Wall Street began the countdown to key inflation data. Futures tied to the S&P 500 (ES=F) rose 0.2%, while futures on the tech-heavy Nasdaq (NQ=F) rose 0.3%. Futures on the Dow…
