Federal Reserve to propose slashing debit card swipe fees - WSJ
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October 25, 2023 10:01 AM EDT
US 10-Year Yield Extends Gain, 4.91%
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October 25, 2023 10:00 AM EDT
New Home Sales (Sep) 759K vs 680K Expected
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October 25, 2023 7:00 AM EDT
MBA Mortgage Applications -1% vs -6.9% Prior
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October 25, 2023 6:07 AM EDT
By Stephen Culp
NEW YORK (Reuters) - U.S. stocks tumbled in a broad sell-off on Wednesday as Alphabet shares slid after the Google parent posted disappointing earnings and as U.S. Treasury yields rose, reviving fears that interest rates could stay higher for longer.
The benchmark S&P 500 index notched its fifth daily decline in six to close below the closely watched 4,200 level. The Nasdaq Composite slumped to its biggest single-session percentage drop since Feb. 21, with interest rate sensitive megacaps weighing heavily the tech-laden index.
The Dow Jones Industrial Average finished modestly lower.
The Philadelphia SE... More
October 25, 2023 4:54 AM EDT
Global S&P Futures lower in premarket, Nikkei mixed, DAX mixed, WTI Crude oil recently at $86, natural gas mixed, gold at $1985
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October 24, 2023 9:59 AM EDT
Richmond Fed Manf. Index (Oct) 3 vs 3 Expected
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October 24, 2023 9:51 AM EDT
UBS Global Wealth Management Chief Investment Officer, Solita Marcelli, believes we are close to the peak in yields after the 10-year US Treasury yield rose above 5% for the first time in 16 years on Monday before retreating.
Yesterday's move lower in yields was attributed to news that noted investors Bill Ackman of Pershing Square Capital Management and PIMCO co-founder Bill Gross shifted their bearish bets on bonds. Ackman said his firm covered their bond short as "[t]here is too much risk in the world to remain short bonds at current long-term rates." He added that the economy is... More
