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Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "It's the feeling that the U.S. economy can stomach higher interest rates for a little bit longer," said Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto. "Implicitly it also means that the Fed might not be so quick to cut rates next year either," he said. The Japanese yen weakened 0.31% versus the greenback at 149.77, after falling to 149.90. Investors have been closely watching for signs of intervention in the Japanese currency by the Bank of Japan (BOJ).

Persons: Florence Lo, Kevin McCarthy, Bipan Rai, Edward Moya, Michelle Bowman, Shunichi Suzuki, Chuck Mikolajczak, Marguerita Choy, Alison Williams Organizations: U.S, REUTERS, Federal Reserve, Institute for Supply Management, Congress, Democratic, Republican, Treasury, CIBC Capital Markets, Investors, Bank of Japan, Fed, Bank of Japan's, Japan's Finance, Thomson Locations: U.S, North America, Toronto, New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Powell and Philadelphia Fed President Patrick Hasker will speak at a roundtable discussion, due 11 a.m. Later in the day, Cleveland Fed President Loretta Mester will speak on the outlook for the U.S. economy. Rivian Automotive (RIVN.O) advanced 2.9% after Evercore ISI raised the EV maker's stock to "outperform" from "in line". Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Jerome Powell, Patrick Hasker, Loretta Mester, Russell Hackmann, Kevin McCarthy, bitcoin, Piper Sandler, Goldman Sachs, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Philadelphia Fed, Cleveland Fed, Hackmann Wealth Partners, Democratic, Republican, Dow e, Nvidia, Rivian, ISI, EV, Thomson Locations: New York City, U.S, Powell, Singapore, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Other megacap stocks including Apple (AAPL.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O) and Microsoft (MSFT.O) advanced between 0.9% and 1.9%. Eight of the eleven S&P sub sectors were down, with the utilities index (.SPLRCU), often considered as a bond proxy, declining 4.9%. Declining issues outnumbered advancers for a 4.02-to-1 ratio on the NYSE and for a 2.27-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 48 new lows, while the Nasdaq recorded 19 new highs and 211 new lows.

Persons: Brendan McDermid, Tesla, Goldman Sachs, Jerome Powell, Michelle Bowman, Loretta Mester, Stocks, Paul Ashworth, Kevin McCarthy, advancers, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Apple, Microsoft, Cleveland Fed, North, Capital Economics, Democratic, Republican, Dow Jones, NYSE, Thomson Locations: New York City, U.S, North America, Bengaluru

☆ Morning Bid: October market fillip as government stays open
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. U.S. Treasury yields, whose relentless rise of late has been at the heart of market disturbances as it prices "higher for longer" interest rates, pushed higher again on Monday too. Ten-year yields were up five basis points to 4.62% - just shy of last week's 16-year peak of 4.69%. Key developments that should provide more direction to U.S. markets later on Monday:* US Sept manufacturing surveys by ISM and S&P Global. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Kevin McCarthy, McCarthy, Goldman Sachs, Jerome Powell, Michael Barr, Loretta Mester, John Williams, Fitch, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Democratic, Republican, Ukraine, Treasury, Bank of Japan, of, Petroleum, Reuters, P Global, Cleveland Fed, New York Fed, Tech, Moody's, U.S . AAA, Chicago, Thomson Locations: New York City, U.S, Russia, OPEC, China, France, Italy, Spain, Germany, York

☆ Trump is turning his $250 million fraud trial into a presidential campaign event
▼ + stars: | 2023-10-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Donald Trump has attacked the civil fraud case against him as political. AdvertisementAdvertisementFormer President — and 2024 Republican presidential frontrunner — Donald Trump has long complained that the legal cases against him are political. The New York Attorney General's $250 million civil fraud trial that began Monday morning, he says, is a "witch hunt." One of Trump's lawyers, Alina Habba, lambasted New York Attorney General Letitia James, an elected Democrat. The attorney general's lawsuit alleges that Trump, Eric Trump, Donald Trump Jr., and two other Trump Organization executives are liable for fraud for misrepresenting the values of the company's property in financial statements submitted to banks for loans.

Persons: Donald Trump, —, — Donald Trump, General's, Trump, Letitia James, Arthur Engoron, who's, Steven Cheung, Jason Miller, Alina Habba, Habba, James, Eric Trump, Donald Trump Jr, Bryan Woolston Kevin C, Wallace, didn't, Cheung, Miller, Engoron, Hillary Clinton, James Comey, Donald M, Middlebrooks, Seth Wenig Middlebrooks, Michael Cohen, Donald Bender Organizations: Service, Republican, The New York, New York, New, Trump Organization, Trump, AP, Democratic National Committee, Supreme Locations: Manhattan, New York, Florida, York

GOP nominees in both states — Kentucky Attorney General Daniel Cameron and first-term Mississippi Gov. '”In 2020, then-President Donald Trump won 62% of the vote in Kentucky and 58% in Mississippi in his loss to Biden. In Mississippi, Reeves put aside anti-Biden rhetoric when he appeared with the president to survey tornado damage in March. “Well, I say a vote for him is a vote for the corrupt system in place,” Presley said of Reeves. A vote for Brandon Presley is a vote for Brandon Presley.”___Emily Wagster Pettus reported from Jackson, Mississippi.

Persons: Joe Biden, Daniel Cameron, Tate Reeves —, Carrie Archie Russell, Donald Trump, Biden, ” Russell, there's, Andy Beshear, He's, Steve Beshear, Matt Bevin, Brandon Presley, Elvis Presley —, Reeves, ” Beshear, Beshear, Cameron, “, ” Cameron, Presley, you’ve, ” Reeves, “ You’ve, You’ve, Bennie, Brandon, ” Bennie, Bennie Thompson, —, Thompson, ” Presley, ”, Emily Wagster Pettus Organizations: Republican, Democratic, Vanderbilt University, Republican Party, Democrat, Biden, Trump, Beshear, Kentucky Chamber of Commerce, Democrats, Democratic U.S . Rep, U.S . Capitol, of Human Services Locations: LOUISVILLE, Ky, Kentucky, Mississippi, it's, nationalize, In Mississippi, U.S, ” In Mississippi, Mississippi’s, America, Jackson , Mississippi

☆ US near-miss with government shutdown illustrates Washington dysfunction
▼ + stars: | 2023-10-01 | by ( David Morgan | ) www.reuters.com time to read: +6 min

WASHINGTON (Reuters) - The U.S. narrowly dodged its fourth partial government shutdown in a decade on Sunday, but the past week exposed the depths of political dysfunction in Washington and particularly within the splintered House Republican caucus. “The dysfunction caucus at work,” Republican Representative Don Bacon told reporters earlier this month, after hardliners blocked consideration of a defense appropriations bill that finally passed on Thursday. He’s a charlatan,” Representative Mike Lawler, a centrist Republican from New York, said of Gaetz after the failed Republican stopgap vote. There are a lot of personalities at play here, and multiple strategic objectives,” Republican Representative Kat Cammack told reporters. “There’s this sort of strange woulda-coulda-shoulda -- appropriations should have just moved faster,” said Republican Representative Dan Crenshaw.

Persons: Ken Cedeno, Kevin McCarthy, Donald Trump, ”, Sarah Binder, McCarthy, Trump, Joe Biden, Biden, Trump’s, Moody’s, Earl Blumenauer, ’, Don Bacon, Monica De La, Matt Gaetz, “ He’s, He’s, Mike Lawler, Gaetz, “, Kat Cammack, Chuck Schumer, Rosa DeLauro, Dan Crenshaw Organizations: WASHINGTON, U.S, Republican, Capitol, REUTERS, Brookings Institution, Democratic, Senate, Aaa, ” Democratic, Republicans, Biden, Republican Party, Reuters, Trump Locations: Washington, Washington , U.S, House, United States, Monica De La Cruz of Texas, New York

WASHINGTON (AP) — Attorney General Merrick Garland said in an interview that aired Sunday that he would resign if asked by President Joe Biden to take action against Republican presidential frontrunner Donald Trump. They don’t allow partisan considerations to play any role in their determinations,” Garland said. Garland choked up when talking about his concerns over violence, particularly as judges and prosecutors assigned to the Trump cases got death threats. But the one thing they may not do is use violence and threats of violence to alter the outcome,” he said. They must ensure that they treat each other with civility and kindness, listen to opposing views, argue as vociferously as they want, but refrain from violence and threats of violence.

Persons: General Merrick Garland, Joe Biden, Donald Trump, “, ”, Hunter, Garland, Trump, ” Garland, Hunter Biden Organizations: WASHINGTON, —, Republican, CBS, Justice, Trump, U.S . Capitol, Justice Department, Republicans, Constitution Locations: Delaware

☆ Matt Gaetz, MAGA loyalist, agrees with Democrats: McCarthy 'lied' to Biden on budget deal
▼ + stars: | 2023-10-01 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Republican Rep. Matt Gaetz has been vowing to oust House Speaker Kevin McCarthy. On Sunday, Gaetz accused McCarthy of lying to both House conservatives and President Joe Biden. AdvertisementAdvertisementFlorida Republican Matt Gaetz says rank-and-file Democrats are totally right: House Speaker Kevin McCarthy is a liar. "[N]obody trusts Kevin McCarthy," Gaetz said. But in an appearance on CBS's Face the Nation, the House speaker said he wasn't worried about Gaetz's threat to his leadership.

Persons: Matt Gaetz, Kevin McCarthy, McCarthy, Gaetz, Joe Biden, —, Donald Trump —, Biden, he'd, Chuck Schumer Organizations: Service, CNN, GOP, Union, Republican, Ukraine, Washington Post, Republicans, Senate, New Locations: Florida, CNN's

☆ Shutdown near-miss illustrates Washington dysfunction
▼ + stars: | 2023-10-01 | by ( David Morgan | ) www.reuters.com time to read: +6 min

REUTERS/Ken Cedeno Acquire Licensing RightsWASHINGTON, Oct 1 (Reuters) - The U.S. narrowly dodged its fourth partial government shutdown in a decade on Sunday, but the past week exposed the depths of political dysfunction in Washington and particularly within the splintered House Republican caucus. "The dysfunction caucus at work," Republican Representative Don Bacon told reporters earlier this month, after hardliners blocked consideration of a defense appropriations bill that finally passed on Thursday. He's a charlatan," Representative Mike Lawler, a centrist Republican from New York, said of Gaetz after the failed Republican stopgap vote. There are a lot of personalities at play here, and multiple strategic objectives," Republican Representative Kat Cammack told reporters. "There's this sort of strange woulda-coulda-shoulda -- appropriations should have just moved faster," said Republican Representative Dan Crenshaw.

Persons: Ken Cedeno, Kevin McCarthy, Donald Trump, Sarah Binder, McCarthy, Trump, Joe Biden, Biden, Trump's, Moody's, Earl Blumenauer, Don Bacon, Monica De La, Matt Gaetz, He's, Mike Lawler, Gaetz, Kat Cammack, Chuck Schumer, Rosa DeLauro, Dan Crenshaw, David Morgan, Jason Lange, Moria, Carolina Mandl, Scott Malone, Daniel Wallis Organizations: U.S, Capitol, REUTERS, Rights, Republican, Brookings Institution, Democratic, Senate, Aaa, House Republicans, Biden, Republican Party, Reuters, Trump, Republicans, Thomson Locations: Washington , U.S, Washington, House, United States, Monica De La Cruz of Texas, New York, Moria Warburton

☆ ‘We can’t do it alone’: Ukrainians react to lack of additional funding in US spending bill
▼ + stars: | 2023-10-01 | by ( Olga Voitovych | ) edition.cnn.com time to read: +5 min

Kyiv, Ukraine CNN —The United States may have avoided a government shutdown on Saturday – but the lack of additional funding for Ukraine in the spending bill has left some residents in the war-torn nation nervous. Though US President Joe Biden lauded the deal reached by lawmakers, he also acknowledged the lack of new funding for Ukraine, vowing Washington “will not walk away” from Kyiv. There will be some errors, but they will be insignificant.”Kostiak said the fight over funding Ukraine is due to the political realities of the 2024 US presidential election, but he believes the possibility that Washington would stop helping Ukraine is slim. “So I don’t see this as a big problem for Ukraine.”Natalia and Serhii Krasnoshchoks expressed optimism about US support for Ukraine. A CNN poll in August found that most Americans oppose Congress authorizing additional funding to support Ukraine in its fight, with the public roughly split on whether the US has already done enough.

Persons: Joe Biden, Washington “, Volodymyr Kostiak, ”, ” Kostiak, ” Natalia, Serhii Krasnoshchoks, Olga Voitovych, CNN Natalia, Serhii, Mykhailo Chendei, Oleg Nikolenko, Volodymyr Zelensky, Tetiana Ostapchuk, Tetiana, hadn’t, ” Yulia Mueller, CNN Yulia Mueller, “ Organizations: Ukraine CNN —, Ukraine, Senate, CNN, Republicans, Kyiv, Russia, Capitol Locations: Kyiv, Ukraine, United States, Ukrainian, Washington, America

WASHINGTON (Reuters) -The U.S. Congress passed a stopgap funding bill late on Saturday with overwhelming Democratic support after Republican Speaker Kevin McCarthy backed down from an earlier demand by his party’s hardliners for a partisan bill. That move marked a profound shift from earlier in the week, when a shutdown looked all but inevitable. Congress typically passes stopgap spending bills to buy more time to negotiate the detailed legislation that sets funding for federal programs. House Republicans are demanding a further $120 billion in cuts. “House Republicans tried to walk away from that deal by demanding drastic cuts that would have been devastating for millions of Americans.

Persons: Kevin McCarthy, Joe Biden, McCarthy, ’, “, Chuck Schumer, Hakeem Jeffries, Donald Trump, Don Beyer, Republicans ’, Republican Mitch McConnell, Michael Bennett, Chris Van Hollen, ” McCarthy, ”, Biden, ” Biden Organizations: WASHINGTON, U.S, Congress, Democratic, Republican, National Parks, WIN, Extreme MAGA Republicans, Republicans, Ukraine, Senate, creditworthiness, Social Security, “ Locations: National, Ukraine

WASHINGTON (Reuters) -The U.S. House of Representatives passed a stopgap funding bill on Saturday with overwhelming Democratic support after Republican Speaker Kevin McCarthy backed down from an earlier demand by party hardliners for a partisan bill. Time remained short to avoid the federal government’s fourth partial shutdown in a decade, which will begin at 12:01 a.m. ET (0401 GMT) on Sunday unless the Democratic-majority Senate passes the bill and President Joe Biden signs it into law in time. “Under these circumstances, I’m recommending a ‘no’ vote, even though I very much want to avoid a government shutdown,” McConnell said. “I want to be the adult in the room, go ahead and try,” McCarthy told reporters.

Persons: Kevin McCarthy, Joe Biden, McCarthy, ’, Hakeem Jeffries, Don Beyer, “, Republicans ’, Republican Mitch McConnell, ” McConnell, ” McCarthy, ” Organizations: WASHINGTON, U.S . House, Democratic, Republican, WIN, Extreme MAGA Republicans, Republicans, Ukraine, “ Locations: Ukraine

WASHINGTON (Reuters) -The U.S. Congress passed a stopgap funding bill late on Saturday with overwhelming Democratic support after Republican House Speaker Kevin McCarthy backed down from an earlier demand by his party’s hardliners for a partisan bill. That move marked a profound shift from earlier in the week, when a shutdown looked all but inevitable. Congress typically passes stopgap spending bills to buy more time to negotiate the detailed legislation that sets funding for federal programs. House Republicans are demanding a further $120 billion in cuts. “House Republicans tried to walk away from that deal by demanding drastic cuts that would have been devastating for millions of Americans.

Notably, the bill does not include aid for Ukraine, which Democrats, the White House, and some Republicans had advocated strongly for. After a meeting with his conference, House Speaker Kevin McCarthy announced that the House would put the stopgap bill on the floor. But McCarthy positioned the move as one that would enable House Republicans to continue their work on border security going forward, while keeping the government open. Some Democrats delivered strong rebukes of the bill for lacking aid to Ukraine ahead of the vote Saturday. Rep. Rosa DeLauro of Connecticut, the lead appropriator for House Democrats, suggested the move was a “shameful” defiance of the American value of freedom.

Persons: Kevin McCarthy, ” McCarthy, Hakeem Jeffries, McCarthy, Rosa DeLauro, Mr, ” DeLauro, “ Organizations: Republicans, GOP, Senate, Saturday, Capitol, Republican, House Democrats Locations: Ukraine, Connecticut

☆ Ex-House Speaker Newt Gingrich says he could 'afford to have five or six people be idiots' during standoffs in the 1990s, a contrast to the numerous GOP hardliners creating challenges for McCarthy
▼ + stars: | 2023-09-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Newt Gingrich recently told Politico of the difference between the '90s-era House GOP and today's slim majority. The ex-speaker said he could "afford to have five or six people be idiots" in the face of a shutdown. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementAfter the 1994 elections, House Republicans secured a 230-seat majority, and they won 226 seats after the 1996 elections. During the Clinton administration, Gingrich told Politico that he could "afford to have five or six people be idiots."

Persons: Newt Gingrich, Kevin McCarthy, —, Dianne Feinstein, Kevin McCarthy of, shutdowns, Bill Clinton, Gingrich, Clinton, Darrell Issa of Organizations: Politico, GOP, Service, Senate, California, House, Republicans, Ukraine, Russia, Capitol Hill, Republican Locations: Kevin McCarthy of California, Georgia, Darrell Issa of California

☆ Sam Bankman-Fried took 21 private jet trips to and from Washington, and chartered Cessnas to transport Amazon packages to FTX HQ, sources say
▼ + stars: | 2023-09-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

FTX spent $15 million on flights and plane upgrades with a charter airline, a court filing said. Bankman-Fried made 21 trips to or from Washington, DC, on a Learjet 60, a person with direct knowledge told Insider. AdvertisementAdvertisementSam Bankman-Fried and FTX frequently chartered private jets from a Bahamian company called Trans Island Airways (TIA), three people familiar with the matter told Insider. They added that each trip cost between $20,000 and $30,000, which means the Learjet flights alone could cost more than $1 million. AdvertisementAdvertisementProsecutors allege that Bankman-Fried orchestrated a scheme that involved funneling $100 million of FTX funds through executives to politicians .

Persons: FTX, Fried, —, Sam Bankman, Joe Bankman, Jerome Powell, Martin, Ryan Salame, Bankman, Michael Lewis, Lewis, Sam, Ryan, Sam's Organizations: Service, Trans Island Airways, TIA, Amazon, Bombardier Global, Embraer ERJ, Trans, Airways, Prosecutors, Capitol, Yorker, New York Times, Federal, Learjet, Bankman, TIA's, Cessna, Fort, Fort Lauderdale Executive Airport, Twitter Locations: Washington, DC, Florida, Bahamas, Caribbean, New York, Chicago, Fort Lauderdale

☆ Hate office politics? It all comes down to point of view.
▼ + stars: | 2023-09-30 | by ( Deb Liu | ) www.businessinsider.com time to read: +10 min

AdvertisementAdvertisement"I hate office politics." I replied, "Office politics is like the weather. Anyone who works in the corporate world can tell you that the word "office" coupled with the word "politics" is a hated combination. What if we could see office politics from a totally different perspective? Understanding office politicsIn a recent survey of 800 people published in the Los Angeles Times, 40% of participants reported they had considered leaving a job because of office politics, and 25% reported they had actually left their job over it.

Persons: Deb Liu, Liu, —, I've, they're, I'd Organizations: Service, Los Angeles Times Locations: Seattle

That move marked a profound shift from earlier in the week, when a shutdown looked all but inevitable. "Democrats have said from the start that the only solution for avoiding a shutdown is bipartisanship, and we are glad Speaker McCarthy has finally heeded our message." Democratic Senator Michael Bennet held the bill up for several hours trying to negotiate a deal for further Ukraine aid. House Republicans are demanding a further $120 billion in cuts. "House Republicans tried to walk away from that deal by demanding drastic cuts that would have been devastating for millions of Americans.

Persons: Michael Bennet's, Kevin McCarthy, Joe Biden, McCarthy, Chuck Schumer, Hakeem Jeffries, Donald Trump, Don Beyer, “, Republicans ’, Ken Cedeno, Republican Mitch McConnell, Michael Bennet, Chris Van Hollen, Biden, David Morgan, Makini Brice, Moira Warburton, Kanishka Singh, Andy Sullivan, Scott Malone, Andrea Ricci, William Mallard Organizations: U.S, Congress, Democratic, Republican, National Parks, WIN, MAGA Republicans, Republicans, REUTERS, Ukraine, Senate, creditworthiness, Social Security, Medicare, Thomson Locations: National, Ukraine

☆ Feinstein's death poses two big questions for US Senate Democrats
▼ + stars: | 2023-09-29 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

Filling the 90-year-old lawmaker's seat on the Senate Judiciary Committee touches one of the most critical levers of partisan power in Washington and will require cooperation from Republicans. "There is simply nobody who possessed the poise, gravitas and fierceness of Dianne Feinstein," Newsom said. JUDICIARY VACANCYFeinstein's death leaves a 10-10 deadlock on the Judiciary Committee, which is in charge of reviewing presidential nominations to federal courts, including the U.S. Supreme Court. With the Republican-controlled House blocking most attempts at bipartisan legislation, the Democratic Senate has focused this year on approving Democratic President Joe Biden's judicial nominees. Senate Republicans said on Friday they do not intend to contest a move to replace Feinstein on the committee after her death.

Persons: Dianne Feinstein, Gavin Newsom, Feinstein, Chuck Schumer, Schumer, NEWSOM Newsom, Newsom, Representative Barbara Lee, Adam Schiff, Katie Porter, Joe Biden's, Biden, That's, Donald Trump's, Republican Mitch McConnell, Barack Obama's, Antonin Scalia, Richard Cowan, Patricia Zengerle, Scott Malone, Cynthia Osterman Organizations: U.S . Senate, Capitol, California Democratic, Republicans, Democrats, Democratic Party, Democrat, Republican, Democratic, Liberal U.S, Representative, U.S, Committee, Supreme, Democratic Senate, Thomson Locations: Washington, WASHINGTON, U.S, California

Excluding volatile food and energy components, the core PCE price index rose 0.1% in August month-on-month, compared with estimates of 0.2% advance. Consumer discretionary led gains among the major S&P 500 sectors, rising 0.9%. But the sector is set to emerge as the only major S&P 500 sector to notch monthly gains. The S&P 500 and the Nasdaq are poised for their worst monthly showing of the year amid uncertainty around interest rates. The S&P index recorded one new 52-week high and five new lows, while the Nasdaq recorded 25 new highs and 109 new lows.

Persons: Brendan McDermid, ”, David Russell, “ It’s Organizations: Reuters, Nasdaq, New York Stock Exchange, REUTERS, Commerce Department, Apple, Microsoft, Nvidia, University of Michigan Consumer, Energy, Dow Jones, Dow, Democratic, Traders, JPMorgan Hedged Equity, Nike, Dick’s, Goods, NYSE Locations: New York City, U.S

☆ Futures rise as Treasury yields take a breather; eyes on inflation data
▼ + stars: | 2023-09-29 | by ( Ankika Biswas | Shashwat Chauhan | ) www.reuters.com time to read: +3 min

(Reuters) - U.S. stock index futures advanced on Friday as Treasury yields eased from multi-year highs and powered gains in growth stocks, while investors awaited a crucial inflation metric to assess the outlook for the Federal Reserve’s monetary policy. REUTERS/Brendan McDermid/File PhotoApple, Microsoft, Tesla, Alphabet, Amazon.com and Nvidia advanced between 0.7% and 1.5% in premarket trading as two-year and 10-year Treasury yields declined. “A move lower in bond yields has given equity markets a much-needed reprieve,” said Tim Waterer, chief market analyst at KCM Trade. With fears of high oil prices fueling inflation, investors are awaiting the U.S. central bank’s preferred inflation metric, the personal consumption expenditures (PCE) price index, which is seen increasing 0.5% in August against a 0.2% gain in July. The core rate, which excludes the volatile food and energy components, is expected to have increased 0.2% in August, similar to July’s reading.

Persons: Brendan McDermid, ”, Tim Waterer, ” Waterer, Thomas Barkin Organizations: Reuters, Federal, New York Stock Exchange, REUTERS, Microsoft, Nvidia, KCM Trade, Traders, Dow e, Nasdaq, Federal Reserve Bank of Richmond, Democratic, Dow, Nike Locations: New York City, U.S, Riding

FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Excluding volatile food and energy components, the core PCE price index rose 0.1% in August month-on-month, compared with estimates of 0.2% advance. The S&P 500 and the Nasdaq are poised for their worst monthly showing of the year amid uncertainty around interest rates. Riding the current of higher crude prices, energy is set to emerge as the only major S&P 500 sector to notch monthly gains. The S&P index recorded no new 52-week high and two new lows, while the Nasdaq recorded 21 new highs and 60 new lows.

Persons: Brendan McDermid, ”, Kim Forrest, “ Organizations: Reuters, New York Stock Exchange, REUTERS, Commerce Department, Bokeh Capital Partners, Apple, Microsoft, Nvidia, University of Michigan Consumer, Dow Jones, Nasdaq, Energy, Dow, Democratic, Traders, JPMorgan Hedged Equity, Nike, Dick’s, Goods, NYSE Locations: New York City, U.S, Riding

It’s a reality that Senate Minority Leader Mitch McConnell called “completely unfair,” as federal workers feel the brunt of lawmakers' inability to agree on a plan to fund the government. A shutdown occurs when Congress can’t pass legislation to fund the government before the start of the fiscal year. The Office of Management and Budget directs each federal agency to create a shutdown contingency plan reviewable on its website that identifies essential workers and services. Government shutdowns have become familiar to many federal workers, with the last shutdown ending in 2019. Other federal employees may hold jobs that are considered essential and may be required to work without pay during a shutdown.

Persons: shutdowns, hasn’t, Matt Gaetz, Joe Biden, Mitch McConnell, Shutdowns haven’t, Benjamin Civiletti Organizations: Management, Budget, Government, Congressional, Postal Service, District of Columbia, Social Security, Transportation Security Administration, White Locations: Florida, furloughs, District

☆ Elon Musk attacked German support for migrants and promoted a call to support a far-right extremist political party
▼ + stars: | 2023-09-29 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +6 min

Germany has responded to an attack from Elon Musk, saying it's "saving lives" by helping migrants. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementElon Musk, the billionaire CEO of Tesla and SpaceX, attacked Germany's center-left governing coalition for supporting migrants on Friday and boosted a call for the German people to support a far-right extremist party instead. In the post shared by Musk, the account lamented the presence of humanitarian groups in the Mediterranean Sea that rescue migrants from distressed vessels. AdvertisementAdvertisementGermany alone has accepted more than 6 million migrants since 2013, many having arrived by sea from countries such as Libya and Turkey.

Persons: Elon Musk, —, Germany's, Giorgia Meloni, Olaf Sholz —, Musk, Der Spiegel, Chancellor Sholz's, Lukas Kaldenhoff, Kaldenhoff, Musk's, Tony Gonazales Organizations: Service, SpaceX, UN, DW, Social Democrat Party, United Nations, European Union, SOS, SOS Humanity, Republican Party, White House, Republican Locations: Germany, Europe, Berlin, Italy's, Nazi, Nazi Germany, Africa, Italy, Libya, Turkey, South Africa, Russia, Ukraine, Starlink, Kyiv, United States, Eagle, , Texas, Mexico

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