Investing

Piper Sandler reacts to calls for more fiscal stimulus? 'You've got to be kidding' May 20, 2024 11:56AM

A bipartisan Senate group last week recommended tens of billions of dollars in new federal spending to ensure the safe development of AI and maintain the U.S.'s competitive edge, particularly against China.

The initiative was outlined in a report released Wednesday by the AI Working Group, led by Senate Majority Leader Chuck Schumer (D., N.Y.). The document serves as a road map for AI policy, presenting a number of recommendations to foster AI advancement while... (continue reading...)

Jefferson's comments indicate Fed could start cutting rates in September: Evercore May 20, 2024 11:56AM

Investing.com -- Data indicating a cooling in inflationary pressures in the U.S. may be encouraging, but it is still too soon to say if price growth in the world's largest economy is sustainably subsiding, according to Fed Vice Chair Philip Jefferson.

Speaking at an event in New York, Jefferson argued that it is too early to tell if a "disinflationary process" in the U.S. will be long lasting.

"This feels consistent with the idea that the Fed leadership is looking at... (continue reading...)

Midday movers: Nvidia, Micron and Wix rise; Li Auto falls May 20, 2024 11:33AM (Updated - May 20, 2024 11:33 AM EDT)

Investing.com -- Main U.S. indexes traded higher Monday, retaining a degree of optimism at the start of a new week that offers more clues as to the likely future direction of U.S. monetary policy.

Here are some of the biggest U.S. stock movers today:

• JPMorgan Chase (NYSE: JPM) stock fell 0.5% despite the investment bank raising its forecast for net interest income, or the difference between what it makes on loans and pays out on... (continue reading...)

Inflation data so far in 2024 "disappointing" - Fed's Barr May 20, 2024 11:20AM

Investing.com -- U.S. inflation data so far this year has been "disappointing," according to Federal Reserve Vice Chair for Supervision Michael Barr, in a sign that the central bank may need more proof that price pressures are cooling before beginning to ratchet down interest rates.

Speaking at an event in Florida, Barr said that 2024's inflation numbers have not given him the "increased confidence" needed to support lowering rates down from than two-decade highs.

He... (continue reading...)

Bank of America warns: Fed is not close to start cutting rates May 20, 2024 11:03AM

Bank of America warned investors in a note Monday that the bar for Federal Reserve rate hikes is high, but rate cuts are still far off. 

The investment bank, said in its brief memo that the Fed should take comfort from April price data, but services inflation is still running above target. 

"Also, we reject the 'stagflation' narrative that has resurfaced recently," stated BofA. "The consumer spending outlook is solid. April retail sales came in softer than... (continue reading...)