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Private Employers Add 150,000 Jobs In June, Less Than Expected: Job Growth 'Solid, But Not Broad-Based'
2024 Jul 03, 8:27am | 514The pace of job creation in the U.S. private sector fell short of expectations in June, suggesting a slight easing in labor market conditions. Private employers in the U.S. added 150,000 jobs last month, a decrease from upwardly the revised 157,000 jobs in May and below the forecasted 161,000 jobs...
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Nasdaq, S&P 500 Futures Flat Ahead Of Jobs, Services Sector Data; Tesla Rises: Analyst Sees Further Gains For US Stocks
2024 Jul 03, 7:29am | 1249Trading in the index futures reflects cautious optimism among traders following the market’s record run. Wednesday’s session is abbreviated, with the stock market closing at 1 p.m. EDT, owing to the Independence Day holiday on Thursday. Volume could be anemic, which is typical of a pre-...
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RBC Calls Itself 'A Nervous And Jumpy Bull' As It Raises S&P 500 Outlook
2024 Jul 02, 6:10pm | 740RBC Capital Markets raised its outlook on the S&P 500 Index for the second half of this year, but it is doing so with trepidation. The investment bank lifted its 2024 price target for the S&P 500 from 5,300 to 5,700, calling the move “a nervous raise” on Tuesday. “The...
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Goldman Sachs: 10 Reasons Why Stock Risks Rise In The Second Half Of 2024
2024 Jul 02, 3:56pm | 795The U.S. stock market enjoyed an impressive performance throughout the first half of the year — the 21st best since 1900. As we move into the second half of 2024, equity investors face greater risks, according to a Goldman Sachs note issued Tuesday. Below are 10 reasons why equity analyst Peter...
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Stocks Hold Steady As Powell Reassures On Disinflation Path, Warns About Debt Risks; Tesla Rallies, Job Openings Spike: What's Driving Markets Tuesday?
2024 Jul 02, 1:41pm | 811U.S. equities were little moved on Tuesday as investors continued to assess the potential for interest rate cuts following the latest economic data and comments from Fed Chair Jerome Powell. Speaking at the European Central Bank (ECB) forum in Portugal, Powell welcomed recent progress on...
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Truist Declares SCB, Rewards Shareholders With Buyback Plan
2024 Jul 02, 1:28pm | 501Per the Federal Reserve, following the clearance of the 2024 annual stress test, Truist Financial Corporation's (NYSE: TFC) preliminary stress capital buffer (SCB) requirement is 2.8%. This excludes the impact of the sale of Truist Insurance Holdings and the balance sheet repositioning that...
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Cooling Inflation Raises Rate Cut Hopes: 4 Solid Stocks to Buy
2024 Jul 02, 12:39pm | 767Inflation is finally showing signs of easing. The personal consumption expenditure (PCE) price index, the Fed's preferred inflation gauge, remained unchanged month over month in May after increasing 0.3% in April. Year over year, the PCE price index rose 2.6% in May after increasing 2.7%...
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Fed Chair Powell Warns Of 'Unsustainable' US Debt Path, Downplays Risks Of Possible Trump Attacks On Central Bank Independence
2024 Jul 02, 11:52am | 1055At the ECB Forum on Central Banking, Federal Reserve Chair Jerome Powell emphasized a careful approach Tuesday to potential interest rate cuts and stressed the critical issue of the United States’ unsustainable debt path. Speaking on a panel with ECB President Christine Lagarde and Central...
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US Stocks Set For A Lower Start As Sentiment Sours Ahead Of Powell's Speech, JOLTS Data, And Tesla Q2 Data: 'There's Still An Upward Tilt To The Equity Market,' Says Analyst
2024 Jul 02, 7:28am | 1069Wall Street is priming for a moderately lower opening on Tuesday after soft data helped the tech-heavy Nasdaq Composite close at another record high in the first trading session of the year’s second half. The market is currently at the mercy of two catalysts – interest rate and earnings...
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US Banks To Benefit From 'Higher For Longer' Interest Rates: Goldman Sachs Sees 'Modestly Attractive Entry Point' For Investors
2024 Jul 01, 4:33pm | 825The emerging scenario of sustained high interest rates could boost the profitability of U.S. banks. That’s according to Goldman Sachs analyst Richard Ramsden who, in a Monday note, expressed cautious optimism for the second-quarter earnings season. Among the first to report on July 12 are...
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4 Solid Stocks to Buy on a Steady Rise in Consumer Spending
2024 Jul 01, 1:46pm | 757A steady rise in income has been a challenge for the Federal Reserve in controlling sky-high inflation. However, inflation is finally showing signs of cooling, while wages continue to be on the rise. A steadily rising personal income is also allowing consumers to spend more freely. The Commerce...
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Manufacturing Contracts More Than Expected In June, 'Putting Pressure On Profitability': Yields Rise, Stocks Fall
2024 Jul 01, 10:44am | 652Business conditions in the U.S. manufacturing sector deteriorated more than anticipated in June, marking the third consecutive month of contraction, according to the Institute of Supply Management’s Purchasing Managers’ Index. The pace of contraction in June was the fastest in four...
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Wall Street Eyes Cautious Start, Nvidia Falls: Optimistic Analyst Says S&P 500 Could Challenge All-Time Highs Multiple Times In Second-Half
2024 Jul 01, 7:35am | 1375U.S. stocks could start the week on a tentative note, going by the trading in the futures market. The subdued mood comes on the back of a very solid performance so far this year. Nvidia Corp. (NASDAQ:NVDA) will likely extend its slide and exert downward pressure on tech stocks. A bullish analyst,...
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China's Central Bank Could Embrace Federal Reserve Model In A Major Reform Under Governor Pan Gongsheng
2024 Jul 01, 12:19am | 619The People's Bank of China is contemplating a major overhaul of its monetary policy, aligning it more closely with the U.S. Federal Reserve's model. The People’s Bank of China is contemplating a major overhaul of its monetary policy, aligning it more closely with the U.S. Federal Reserve...
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Prominent Economist Paul Krugman Says 'Inflation Beaten,' Underlines This As Reason For Sticky Pricing Pressure
2024 Jun 30, 1:06pm | 649Paul Krugman, an authority in economics and Noble Prize winner, commented on Friday’s inflation data that showed a further easing in pricing pressure, prompting an increase in the odds of rate cuts. Inflation War Won? “Inflation looks beaten,” said Krugman in a post on X, formerly...