Sector Update: Financial Stocks Decline Premarket Tuesday
Sector Update: Financial Stocks Decline Premarket Tuesday
Sector Update: Financial Stocks Decline Premarket Tuesday
Wurster will take over for Bettinger, who oversaw the growth of client assets to $9.74 trillion.
Healthcare and its big web of inefficiencies is thought to be a key arena for AI disruption. But investors might have to be very, very patient.
-- Australian consumer inflation fell more than expected in November, helped chiefly by a decline in fuel costs as oil prices fell, although core inflation remained...
According to Foresight News, Decrypt reports that House Majority Whip Tom Emmer believes that support for U.S. crypto legislation has reached a critical point. Emmer suggests that the FIT21 bill, a stalled crypto market structure proposal, could become law before the holiday season. The FIT21 bill aims to establish a federal regulatory framework for digital assets, overseen jointly by the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC). This legislation would allow issuers to self-certify their assets as digital commodities, a move previously criticized by President Joe Biden and SEC Chairman Gary Gensler.
According to PANews, UBS forecasts a continued depreciation of the US dollar and recommends investors reassess their portfolios. The bank anticipates a mid-term decline in the dollar due to narrowing interest rate advantages and increasing fiscal deficits. Since June, the dollar has fallen by 5%. UBS advises investors to adopt strategies such as currency hedging, diversifying into other currencies, and investing in assets like gold to mitigate risks.
All eyes are on Friday’s U.S. Nonfarm Payrolls Report.
According to PANews, Federal Reserve Chair Jerome Powell expressed optimism about the U.S. economy achieving a soft landing during his speech at the National Association for Business Economics (NABE) annual meeting in Nashville. Powell indicated that the process of lowering interest rates would be further 'readjusted' based on upcoming economic data.Powell stated, 'By appropriately adjusting our policy stance, the labor market can remain resilient in an environment of moderate economic growth and inflation steadily returning to target.' He emphasized that the overall economic conditions are favorable and that the Federal Reserve intends to use its tools to maintain this status.If the economy continues on its current trajectory, Powell anticipates two additional 25 basis point rate cuts this year. This outlook contrasts with market expectations, which have been betting on a more aggressive rate-cutting cycle.
American cryptocurrency owners are equally divided over whether they prefer Kamala Harris or Donald Trump to take office next year, according to a new Morning Consult poll conducted for the crypto exchange Coinbase.
Nvidia's ascent into the $3 trillion market-cap club, alongside Apple and Microsoft, led to some bizarre side effects in the world of index-tracking. For a time, investors in the behemoth SPDR technology sector fund had four times as much exposure to Nvidia as Apple.