(Reuters) - The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed's 2% goal last month and spending softened, traders expect.
After the data, traders priced in about a 53% chance of a rate cut in September, versus about 49% before the report. The report showed the core personal consumption expenditures price index, which the Fed... (continue reading...)
By Lindsay Dunsmuir
(Reuters) - U.S. inflation tracked sideways in April, a worrying sign for the Federal Reserve that suggests the elevated pace of price increases could last longer than expected and casts doubt on how soon the central bank will be able to cut interest rates.
The report from the Commerce Department on Friday also showed tepid consumer spending, a wrinkle that could help the Fed's inflation fight or cause jitters if the... (continue reading...)
Analysts at BMO Capital upped their price target for the S&P 500 in a note earlier this month, while this week, UBS did the same, with both now seeing the index reaching 5,600, representing Street highs.
BMO Capital told investors that the S&P 500 momentum is likely to persist. The firm acknowledged that it had previously underestimated the strength of the market momentum, particularly considering that investor expectations and Fed policy guidance have become... (continue reading...)
Investing.com — Suzano Papel e Celulose's (NYSE: SUZ) bid for International Paper (NYSE: IP) is looking increasingly likely to succeed as a combination of better financing options with the possibility of the Brazilian pulp giant offering shares in the newly formed company as part of the premium could bridge the gap between the two giants.
Originally, Suzano had reportedly offered $42/share for IP's full takeover, a bid that only implied a small premium over the... (continue reading...)
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