DIRS.INFO The most relevant business & tech news

☆ The fast pace of yield growth is hurting variable loan borrowers: LPL Financial's Quincy Krosby
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe fast pace of yield growth is hurting variable loan borrowers: LPL Financial's Quincy KrosbyQuincy Krosby, chief global strategist at LPL Financial, joins 'The Exchange' to discuss the impact wage increases have on market stability, why spiking treasury yields add pain to borrowers with variable loans, and the relationship between high wages and price inflation.

Persons: Quincy, Quincy Krosby Organizations: LPL

☆ U.S. men claim crushing victory in 4x400m relay
▼ + stars: | 2023-08-27 | by ( Mitch Phillips | ) www.reuters.com time to read: +1 min

Athletics - World Athletics Championship - Men's 4x400m Relay Final - National Athletics Centre, Budapest, Hungary - August 27, 2023 Quincy Hall, Justin Robinson, Rai Benjamin and Vernon Norwood of the U.S. celebrate after winning the Men's 4x400m Relay REUTERS/Sarah Meyssonnier Acquire Licensing RightsBUDAPEST, Aug 27 (Reuters) - The United States maintained their vice-like grip of the men’s 4x400 metres relay on Sunday when they emphatically won their ninth world gold from the last 10 finals. The U.S., who have also won four of the last five Olympic golds, came home well clear in 2:57.31. France took silver as a national record 2:58.45 gave them their first medal of the championships in the penultimate event. Britain took bronze in 2:58.71, holding off back to back silver medallists Jamaica. Reporting by Mitch Phillips, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Justin Robinson, Rai Benjamin, Vernon Norwood, Sarah Meyssonnier, Mitch Phillips, Pritha Sarkar Organizations: National Athletics Centre, REUTERS, Rights, United, Quincy Hall, Jamaica, Thomson Locations: Budapest, Hungary, United States, U.S, France

☆ Market reactions to Powell speech
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +8 min

"It is the Fed's job to bring inflation down to our 2% goal, and we will do so," Powell said. "August has been a difficult month for the market, so it is hungry for news that will help reverse the trend. Investors are hanging on to every word, but the main takeaway is that Powell signaled that the Fed would raise rates if needed. Rather than last year's short but brutal speech, Powell opted for a longer and calmer speech. KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO"On balance, this is a modestly less hawkish speech than markets had feared.

Persons: Jerome Powell, Powell, CHRISTOPHER HODGE, MICHAEL GREEN, ANDRE BAKHOS, CARSTEN BRZESKI, Ann Saphir, Christine, Lagarde, ” JOSEPH LAVORGNA, “, ” STUART COLE, ” QUINCY KROSBY, there's, DAVID WAGNER, Jackson, BRIAN JACOBSEN, patting, KARL SCHAMOTTA, Bernanke, Draghi Organizations: U.S . Federal, Federal, NFP, Fed, ING, Kansas City, REUTERS, CHIEF, CPI, Global Finance, Markets, Thomson Locations: U.S, JERSEY, FRANKFURT, Kansas, Jackson Hole , Wyoming, NIKKO, LONDON, CHARLOTTE, NORTH CAROLINA, CINCINNATI , OHIO, WISCONSIN, TORONTO

☆ Powell's pivotal speech Friday could see a marked shift from what he's done in the past
▼ + stars: | 2023-08-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"I just think he's going to play it about as down the middle as possible," said Joseph LaVorgna, chief economist at SMBC Nikko Securities America. "He's got to strike that chord that the Fed is going to finish the job. "He's going to want to be a little more hawkish than neutral. But he's not going to deliver what he delivered last year. A Cleveland Fed inflation tracker anticipates August's figures will show a noticeable jump.

Persons: Jerome Powell, Powell, Win Mcnamee, Joseph LaVorgna, circumspect, LaVorgna, Donald Trump, He's, It's, Quincy Krosby, he's, Inflation's, Krosby, Patrick Harker, you've, Harker, CNBC's Steve Liesman, Jackson Organizations: Financial, Federal, Getty, Federal Reserve, Nikko Securities America, Research, National Economic Council, LPL, Cleveland, San Francisco Fed, Philadelphia Fed Locations: Washington , DC, circumspect Powell

☆ Here's what Wall Street expects from Jerome Powell at Jackson Hole
▼ + stars: | 2023-08-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Fed chief Jerome Powell is scheduled to speak Friday at Jackson Hole, Wyoming. Markets will be hanging on his every word, and Wall Street expects him to focus on inflation and interest rates. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "We are not expecting to get a strong monetary policy signal out of Jackson Hole," Goldman Sachs strategists wrote in a note Friday. "Typically, markets have been in positive territory the week following Jackson Hole."

Persons: Jerome Powell, Jackson, Powell, goad Powell, CME's, Goldman Sachs, Quincy Krosby, Tom Lee, Ned Davis Organizations: Wall Street, Service, Wall, LPL Financial, Fed, NDR Locations: , Wyoming, Wall, Silicon, dovish, Russia, Ukraine, China

☆ BRICS is an 'interesting coalition' of the 'global east,' think tank says
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBRICS is an 'interesting coalition' of the 'global east,' think tank saysSarang Shidore, director of the Global South program at the Quincy Institute, discusses the BRICS grouping of Brazil, Russia, India, China and South Africa and the areas of "substantial overlaps" between China and the "global south."

Persons: Shidore Organizations: Global, Quincy Institute Locations: Brazil, Russia, India, China, South Africa

☆ Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) advanced 2.8%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining issues outnumbered advancing ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners. The S&P 500 posted 3 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 214 new lows.

Persons: Jerome Powell, Quincy Krosby, Jackson, Brendan McDermid, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Palo Alto Networks, Dow, Nasdaq, Nvidia, Federal, HSBC, Financial, Treasury, Traders, New York Stock Exchange, REUTERS, Dow Jones, Johnson, VMware, NYSE, Thomson Locations: Wyoming, Charlotte , North Carolina, New York City, U.S, Palo, billings

☆ Nasdaq rallies as Nvidia, tech jump; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) was also up sharply. Nvidia's stock is up more than 200% for the year so far, while the Nasdaq is up nearly 30%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. According to preliminary data, the S&P 500 (.SPX) gained 30.42 points, or 0.70%, to end at 4,400.13 points, while the Nasdaq Composite (.IXIC) gained 206.65 points, or 1.55%, to 13,497.42.

Persons: Brendan McDermid, Jerome Powell, Quincy Krosby, Jackson, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Palo Alto Networks, Nasdaq, Nvidia, Dow, Federal, HSBC, Financial, Treasury, Dow Jones, Johnson, VMware, Thomson Locations: New York City, U.S, Wyoming, Charlotte , North Carolina, Palo, billings

☆ S&P 500 futures are little changed Sunday after another losing week: Live updates
▼ + stars: | 2023-08-20 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on August 16, 2023 in New York City. U.S. S&P 500 futures were little changed on Sunday night after another losing week for the major averages. Meanwhile, the S&P 500 edged down 0.01%, while the Nasdaq Composite fell 0.2%. The Nasdaq Composite closed the week lower about 2.6%, down for a third straight week for the first time since December. And the S&P 500 dropped 2.1% and posted its third consecutive losing week, which hadn't happened since February.

Persons: Quincy Krosby, They're, Jerome Powell Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Palo Alto Networks, Investors, Dow Jones, Dow, LPL, Nvidia, Federal Locations: New York City ., China, , Wyoming

☆ Wall St Week Ahead Less cash, fewer bears could leave U.S. stocks vulnerable
▼ + stars: | 2023-08-19 | by ( David Randall | ) www.reuters.com time to read: +5 min

The upshot, some believe, is that there is now less cash on the sidelines to drive further gains and fewer skeptical investors to win over. The bank’s survey of fund managers showed cash allocations dropped to 4.8% in August, the lowest level in 21 months. Bearishness among retail investors, meanwhile, is at half the levels seen in September 2022, according to the AAII Sentiment Survey. Should the market stabilize, investors will likely reallocate more cash to stocks later in the year, she said. Of course, while optimism has grown, it is still far from extreme, and cash levels are far from historical lows.

Persons: Carlo Allegri, that’s “, Willie Delwiche, Quincy Krosby, Steve Chiavarone, Chiavarone, ”, David Randall, Ira Iosebashvili, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, BofA Global Research, Mount Research, Federal, U.S ., China Evergrande, HK, U.S, LPL, Federated Hermes, Thomson Locations: New York, Jackson Hole , Wyoming, U.S

☆ CNBC Daily Open: Inflation and rate hikes aren’t over, warns the Fed
▼ + stars: | 2023-08-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Kevin Dietsch | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Losing streakU.S. markets fell for a second straight day and Treasury yields rose as traders digested hawkish minutes from the Federal Reserve. Inflation relief for the U.K.U.K. headline inflation in July dropped to 6.8% year on year, in line with economists' forecast. Longer-term U.S. Treasury yields — which are typically more sensitive to interest rate changes — rose in response to the minutes.

Persons: Jerome Powell, Kevin Dietsch, Bob Pisani, Quincy Krosby, Sam Stovall, Tesla — Organizations: U.S . Treasury, Getty, CNBC, Federal, Federal Reserve, General Motors, LPL, Treasury, Dow Jones, Nasdaq, CFRA Research, Big Tech, Nvidia, Tesla Locations: Washington , DC

☆ US stocks fall as Fed minutes show officials think hot inflation could still require more rate hikes
▼ + stars: | 2023-08-16 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation. Markets have been confident in their belief that the July rate hike was the last of the Fed's cycle. "The Fed wants to talk tough on inflation, but it's obvious they are done with rate hikes. "The July 26 rate hike was most likely not a one and done as the latest round of data suggests." The Fed will have another inflation report and another jobs report to sift through before it makes another policy decision.

Persons: Jamie Cox, Quincy Krosby Organizations: Service, Reserve, Harris Financial, LPL, Fed, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ Fed officials fretted US inflation might not cool further unless economy slows down
▼ + stars: | 2023-08-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Federal Reserve officials were wary that inflation would slow further unless the US economy and labor markets also cool down, according to minutes from their July policy meeting released on Wednesday. There have only been two meetings in which Fed officials dissented with a decision since the central bank began lifting rates in March 2022. “Inflation is still significantly above” the Fed’s 2% target, Fed Governor Michelle Bowman said earlier this month. The surprising economic strength this summer raised optimism among investors and Fed officials that the US economy can avoid a recession or a sharp uptick in unemployment as inflation continues to slow. Fed economists are in fact no longer projecting a recession, according to the minutes, which Fed Chair Jerome Powell divulged in his post-meeting news conference last month.

Persons: It’s, “, Michelle Bowman, dovish, Patrick Harker, ”, Quincy Krosby, Jerome Powell Organizations: DC CNN — Federal Reserve, Fed, Philadelphia Fed, LPL, Commerce Department, Research, Federal Reserve Bank of San Locations: Washington, June’s, Atlanta, Federal Reserve Bank of San Francisco

Since CPI inflation tends to be faster than the PCE measures that the Fed uses to set its inflation target, that means one important area of policymaker focus may have dipped below target already. But the pace of increase pales against the double-digit gains in 2021, and the inflation rate for rental housing has also slowed. A recent study by San Francisco Fed economists, using real-time housing and rent data from companies like Zillow, projected "a sharp turnaround in shelter inflation" through late next year. Two versions of the San Francisco estimates show shelter inflation hitting 0% next year, well below the 3%-to-4% range that Meyer said could help the Fed traverse its last inflation mile more quickly. Other aspects of the economy may also be snapping into place, a possible late-arriving validation of the Fed's initial expectation that rising inflation in 2021 would prove "transitory."

Persons: Brent Meyer, Meyer, Quincy Krosby, they've, Christopher Waller, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Reuters Graphics Reuters, Atlanta Fed's, Fed, CPI, San Francisco Fed, LPL, Richmond Fed, Reuters, Thomson Locations: U.S, San Francisco

☆ Survivor Recounts Escape From Hawaii Wildfires
▼ + stars: | 2023-08-11 | by ( Quincy Dein | Nikolay Nikolov | ) www.nytimes.com time to read: +1 min

I don’t know how people are going to live now with their houses and their cars and everything gone. I don’t know what they’re going to do. It’s a sad, sad place. Almost all the historical buildings, the churches — that’s probably the hardest part for everybody that has lived there their whole lives is what’s happened there. But what’s happened there, there’s no rebuilding what went on there.

Persons: Harley, that’s

☆ US stocks finish the week mostly lower as July inflation data comes in mixed
▼ + stars: | 2023-08-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks finished the week mostly lower as investors digest mixed inflation data. While the July CPI report came in lower than expected, the producer price index was higher than economist estimates. The conflicting data will serve as a major input into the Federal Reserve's next interest rate decision. The July consumer price index came in lower than economist estimates and showed a continued cooldown in inflation, while July producer price index came in hotter than economist estimates, though it did indicate most prices are falling from year-ago levels. Despite the conflicting data, investors still expect the Federal Reserve to pause their interest rate hikes at their September FOMC meeting, according to the CME FedWatch Tool.

Persons: Quincy Krosby, it's Organizations: Federal, Service, Federal Reserve, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ Following CPI report, the market has locked in on no more rate hikes from the Fed
▼ + stars: | 2023-08-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The market has its mind made up: July's tame inflation reading means no more interest rate hikes from the Federal Reserve. The "patience" reference goes to whether policymakers will be satisfied that inflation will come back to normal without any further rate increases, or if additional tightening is necessary. Following Thursday's release of the consumer price index , which showed a 12-month inflation rate of 3.2%, markets upped their bets that the Fed is staying put. The chance of any additional rate increases also declined, dropping to 27.3% for November and 24.1% for December, as of about 1:30 p.m. Thus, there was some caution from the CPI internals, and a stock market rally cooled Thursday afternoon as Wall Street digested the report.

Persons: Quincy Krosby, Bill Adams, Rick Rieder, Tom Lee, Bradley Saunders Organizations: Federal, LPL, of Labor Statistics, Fed, Comerica Bank, Market Committee, Capital Economics Locations: BlackRock

☆ ‘Winning Time’ Is Back. Here’s What to Know Ahead of Season 2
▼ + stars: | 2023-08-04 | by ( Tania Ganguli | More About Tania Ganguli | ) www.nytimes.com time to read: +1 min

Fictionalized shows drawn from real life don’t always satisfy the people depicted. But when the subjects are superstars accustomed to speaking for themselves, their criticism can take on a life of its own. That’s what happened after the first season of HBO’s “Winning Time: The Rise of the Lakers Dynasty,” which returns for a second season on Sunday. But many of the people portrayed in Season 1 objected loudly to the way they and others were depicted — Magic Johnson (Quincy Isaiah), Kareem Abdul-Jabbar (Solomon Hughes) and Coach Jerry West (Jason Clarke) among them. West even demanded an apology from HBO (and his character does seem more muted in the coming season).

Persons: don’t, Jeff Pearlman’s, ”, Jerry Buss, John C, Reilly, Magic Johnson, Quincy Isaiah, Kareem Abdul, Jabbar, Solomon Hughes, Jerry West, Jason Clarke, Max Borenstein, “, they’ve Organizations: Lakers, Los Angeles Lakers, Showtime Lakers —, HBO Locations: West

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Earnings are also in focus, with Apple (AAPL.O) and Amazon.com (AMZN.O) due to report quarterly results after market close. Declining issues outnumbered advancers for a 2.08-to-1 ratio on the NYSE and a 1.28-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and four new lows, while the Nasdaq recorded 37 new highs and 63 new lows. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Quincy Krosby, Thomas Barkin, advancers, Shubham Batra, Bansari, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Moderna, PayPal, Qualcomm, Dow, Nasdaq, LPL, Richmond Federal, Dow Jones, Apple, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: New York City, U.S, Richmond, Bengaluru

☆ Wall Street ends down, investors step back after Fitch US rating cut
▼ + stars: | 2023-08-02 | by ( David French | ) www.reuters.com time to read: +5 min

Fitch was the second major agency to cut the country's rating. Reaction to the news pushed major indexes lower, with the S&P 500 (.SPX) recording its biggest daily percentage drop since April 25. REUTERS/Brendan McDermid/File PhotoThe technology index (.SPLRCT), dropping 2.6%, was also the worst performer of the 11 major S&P sectors, with nine in total ending the day lower. With around two-thirds of the S&P 500 having already reported, 79.9% have posted earnings above analysts' expectations, per Refinitiv I/B/E/S. The S&P 500 posted 12 new 52-week highs and five new lows; the Nasdaq Composite recorded 49 new highs and 111 new lows.

Persons: Fitch, brokerages, Quincy Krosby, Brendan McDermid, LPL's Krosby, Krosby, Emerson, Johann M Cherian, David French, Lewis Krauskopf, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Dow, Nasdaq, Wall, AAA, LPL Financial, Fitch, AA, Nvidia, Apple, Tech, New York Stock Exchange, REUTERS, Amazon.com Inc, Dow Jones, ADP, CVS Health Corp, Devices, Thomson Locations: States, U.S, Charlotte , North Carolina, New York City, America, Bengaluru, New York

☆ Stock futures are little changed Wednesday night after U.S. downgrade spurs a sell-off: Live updates
▼ + stars: | 2023-08-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures were little changed Wednesday as traders contended with Fitch's recent downgrade of the United States' long-term rating. Futures tied to the S&P 500 gained 0.1%, while Nasdaq 100 futures added 0.1%. It marked the worst day since February for the index, as tech stocks tumbled amid a spike in bond yields. Both the S&P 500 and Dow Jones Industrial Average also closed lower. Fitch Ratings cut the United States' long-term foreign currency issuer default rating to AA+ from AAA late Tuesday, citing "expected fiscal deterioration" over the next three years as well as weakening governance.

Persons: Quincy Krosby, Fitch Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, chipmaker Qualcomm, Dow Jones, Fitch, AAA, LPL Locations: United States

☆ Instant View: Fitch downgrades U.S. foreign currency ratings to 'AA+' from 'AAA'
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +9 min

The downgrade follows a debt ceiling agreement in June that came after months of political brinkmanship and ultimately lifted the government's $31.4 trillion debt ceiling. Unless they think that fiscal trajectory suggests risk of a default, which I don't think they say, I don't understand the reason for this." “So I don't think the reaction, it should surprise anyone in the markets because we've been through this before. JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS IN PALM BEACH, FLORIDA"I'm surprised, but I'm not surprised." "It's really the just the troubled negotiations that take place every time we have a debt ceiling or budget negotiation.

Persons: Thomas White, Fitch, STEVEN RICCHIUTO, ” WENDY EDELBERG, I'm, JASON WARE, Fiitch, MICHAEL O’ROURKE, “, ” BERNARD BAUMOHL, Poor’s, ” MICHAEL SCHULMAN, ANGELO KOURKAFAS, EDWARD JONES, ”, MICHAEL K, FARR, That’s, ” KEITH LERNER, ” “ It’s, ERIC WINOGRAD, ALLIANCEBERNSTEIN, QUINCY KROSBY, doesn't, JACK ABLIN, it's Organizations: REUTERS, United, AAA, USA, ., OF, HAMILTON PROJECT, BROOKINGS, WASHINGTON D.C, ALBION, Fitch, AA, PRINCETON, NEW, ST LOUIS, MILLER & WASHINGTON LLC, ADVISORY, Global Finance, Markets, Thomson Locations: United States, U.S, MIZUHO, WASHINGTON, CITY , UTAH, STAMFORD , CONNECTICUT, NEW JERSEY, ATLANTA, CHARLOTTE, NORTH CAROLINA, BEACH , FLORIDA

☆ Tupac Shakur’s self-designed ring becomes most expensive hip-hop artifact sold at auction
▼ + stars: | 2023-07-27 | by ( Christy Choi | ) edition.cnn.com time to read: +2 min

CNN —Late rapper Tupac Shakur’s gold, ruby and diamond crown ring fetched more than $1 million on Tuesday, becoming the most valuable hip-hop artifact ever sold at auction, according to Sotheby’s. From left: Snoop Doggy Dogg and Tupac Shakur show off their rings DMI/The LIFE Picture Collection//ShutterstockThe ring was designed over several months after the rapper signed with Death Row Records following a prison sentence of which he served eight months. It was modeled after the crowns of Europe’s medieval kings in “an act of self-coronation,” said Shakur’s godmother Yaasmyn Fula, who brought the ring to auction, according to a Sotheby’s press release. The ring on display ahead of Tuesday's hip-hop-themed auction. The wooden box, painted in the artist’s classic cartoonish style, sold within estimate at $76,200.

Persons: Tupac Shakur’s, Shakur, “, Kidada Jones, Quincy Jones, Snoop, Tupac Shakur, ”, Yaasmyn, De La Soul’s Kelvin Mercer, Alexi Rosenfeld, KAWS, UNKLE, James Lavelle, Wu, Tang, Bill Sienkiewicz, EPMD’s Organizations: CNN Locations: New York, “, York, American

☆ Fed raises interest rates, leaves door open to another increase - Reuters News
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +9 min

The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase. The Fed raised (the Fed funds target rate) by a quarter point and the vote was unanimous, and the move puts rates at a 22-year high." "We think recent data is consistent with the US policy rate peaking in July, as core CPI inflation slowed sharply in June. "Fed Chair Powell is going to suggest that for the time being that they need to assess more information for inflation. "Markets are for the most part becoming more confident the Fed won't have to raise rates in September.

Persons: GENNADIY GOLDBERG, J Powell, they've, They're, Powell, we've, ELLEN HAZEN, ” MICHAEL BROWN, JACK ABLIN, BRIAN JACOBSEN, MENOMONEE, ” PETER CARDILLO, Jackson, GURPREET GILL, GOLDMAN, QUINCY KROSBY, ” EDWARD MOYA, We'll, we'll Organizations: YORK, Federal Reserve, U.S, Treasury, Fed, Dow, Global Finance, Markets, Thomson Locations: U.S, WELLESLEY , MASSACHUSETTS, PALM BEACH , FLORIDA, WISCONSIN, GOLDMAN SACHS, CHARLOTTE, NORTH CAROLINA

☆ Nasdaq leads Wall St to higher close as CPI report lifts sentiment
▼ + stars: | 2023-07-12 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. The Labor Department report also showed the smallest monthly gain in underlying consumer prices since August 2021. The S&P 500 banks index (.SPXBK) was up 0.6%. Advancing issues outnumbered declining ones on the NYSE by a 3.23-to-1 ratio; on Nasdaq, a 1.93-to-1 ratio favored advancers. The S&P 500 posted 66 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 129 new highs and 42 new lows.

Persons: Michael James, Quincy Krosby, Marvel, Janet Yellen's, Caroline Valetkevitch, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, Nick Zieminski, David Gregorio Our Organizations: Nvidia, Broadcom, Dow, Nasdaq, Reserve, CPI, Wedbush Securities, Dow Jones, Labor Department, JPMorgan Chase, chipmaker Broadcom, VMware, Marvell Technology, Treasury, NYSE, Thomson Locations: Los Angeles, North Carolina, U.S, York, China, Beijing, Bengaluru

Search resuls for: "Quincy"

25 mentions found