Comments by Federal Reserve Chair Jerome Powell that benchmark U.S. interest rates were “just below” neutral sparked a sharp rally on Wall Street on Wednesday, easing investor worries about the pace of rate hikes by the U.S. central bank next year.
Federal Reserve Chair Jerome Powell boosted U.S. stock markets on Wednesday when he said the policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy economy, comments that many took as signaling the Fed’s three-year tightening cycle is drawing to a close.
Apple Inc’s iPhone XR has been the company’s best-selling iPhone model every day since it went on sale in mid-October, a company executive told Reuters on Wednesday.
Wall Street rallied on Wednesday, multiplying its gains as investors bet on a moderation in the pace of U.S. monetary policy tightening after comments from Federal Reserve Chair Jerome Powell.
U.S. fund Pacific Investment Management Co (Pimco) has bought all of a $3 billion, five-year bond offered with a hefty return by Italy’s top bank UniCredit to comply with capital buffer rules, two sources familiar with the matter said.
Sears Holdings Corp Chairman Eddie Lampert’s hedge fund and Cyrus Capital Partners LP are preparing a potential takeover bid to keep the bankrupt retailer running, Bloomberg reported on Wednesday.
Wall Street extended its gains on Wednesday after Federal Reserve Chair Jerome Powell said that the central bank’s policy rate was “just below” neutral, hinting at a potential moderation in the pace of policy tightening.
Federal Reserve Chair Jerome Powell on Wednesday appeared to signal the U.S. central bank is nearing an end to its interest-rate hikes, saying the Fed’s policy rate is now “just below” a level that neither brakes nor boosts a healthy economy.
Comments by U.S. Federal Reserve Chair Jerome Powell that interest rates were “just below” neutral propelled Wall Street higher on Wednesday, easing investor worries about the pace of interest rate hikes next year.
Ford Motor Co said on Wednesday it will reshuffle workers at several of its plants to meet rising demand for pickup trucks and large SUVs, a process that will require finding new positions for 150 workers displaced by the changes but not result in job cuts.
Microsoft Corp’s stock market value surpassed Apple Inc’s and pulled ahead by as much as $3 billion on Wednesday as the Windows software maker benefited from optimism about demand for cloud computing services.
U.S. stock indexes rallied more than 1.5 percent on Wednesday after Federal Reserve Chairman Jerome Powell said the policy rate was ‘just below’ neutral, easing worries of a faster pace of interest rate hikes next year.
Federal Reserve Chair Jerome Powell appeared to signal a nearer end to the U.S. central bank’s interest-rate hikes on Wednesday, saying interest rates are now “just below” estimates of neutral less than two months after saying rates were probably “a long way” from that point.
The U.S. faces only moderate financial risks despite elevated asset prices and concern over the possible impact of rising corporate debt, U.S. Fed chairman Jerome Powell said on Wednesday as the central bank released a broad overview of the health of credit markets and the financial system.
U.S. Federal Reserve Chair Jerome Powell said on Wednesday that while there was “a great deal to like” about U.S. prospects, the Fed’s gradual interest-rate hikes are meant to balance risks as it tries to keep the economy on track.
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