Author: FX
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks surged on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major U.S. banks fueled a rally. The Labor Department said the consumer price index (CPI) increased the most in nine months as energy costs rose, although a measure of underlying inflation pressures subsided. Data on Tuesday showed the producer price index (PPI) rose less than expected. “We’ve gotten so puckered over the fact that rates might be going up and this is going…
The United Kingdom’s headline inflation rate unexpectedly cooled to 2.5% year-over-year in December 2024, coming in below market expectations of 2.7% and November’s reading of 2.6%. The Office for National Statistics (ONS) data showed core inflation, which excludes volatile items, also moderated to 3.2% from 3.5% in November. Key points from the ONS report: Annual Consumer price growth decelerated slightly to 2.5%y/y from 2.6% y/y Monthly CPI rose by 0.3% m/m, below forecasts of 0.4% m/m Core CPI showed continued moderation, falling to 3.2% annually U.K. services inflation, which is closely watched by the Bank of England, fell to 4.4%…
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Pound Sterling gains on soft UK inflation, mix US CPI data The Pound Sterling (GBP) surges to near 1.2300 against the US Dollar (USD) in Wednesday’s North American session after the release of the United States (US) Consumer Price Index (CPI) report for December, which showed mixed numbers. The GBP/USD pair tumbled as the USD dives after the inflation data, with the US Dollar Index (DXY) sliding to near 108.70. Read More… GBP/USD trades with mild negative bias around 1.2200 ahead of UK/US inflation data The GBP/USD pair attracts some sellers during the Asian session on Wednesday, albeit it lacks follow-through and remains well within the…
Jan. 15, 2025 12:33 PM ETBitcoin USD (BTC-USD) CryptoMSTR, RIOT, HIVE, MARA, COIN, ETH-USD, XLM-USD, TIA-USD, UNI-USD, XRP-USD, BTBT, BRPHF, BKKT, AVAX-USDBy: Max Gottlich, SA News Editorpeshkov/iStock via Getty ImagesBitcoin (BTC-USD) drifted higher in Wednesday afternoon trading, hovering just below the $100K level, after a softer-than-forecast core inflation print reinforced bets the Federal Reserve is on track to continue lower borrowing costs this year. The most popular cryptocurrency ( Source link
NEW YORK (Reuters) – Profits at some of the biggest U.S. lenders rose in the fourth quarter as dealmaking picked up and trading was boosted by strong equity markets, sparking a rally in banking stocks on Wednesday. The market environment has been favorable for banks. Equity markets have surged, with the climbing 23.3% in 2024, while deal volumes have risen and strong demand for bond underwriting boosted investment-banking fees. Shares among the banks that reported earnings on Wednesday rose between 5.9% for Goldman Sachs and 0.9% for JPMorgan Chase (NYSE:). Bank of America and Morgan Stanley (NYSE:) will report results…
The US CPI data was more or less as expected, but the market is taking a more dovish view (I don’t really see greatness in the data, but the market is cheering). Earnings from financialalso came in better which is helping the stock market. Yields are down sharply which is also a big driver. The 10 year yield is now down -11.5 basis points or 4.675% after reaching 4.809% this week. The two year yield is down -8.9 basis points.In premarket trading for US stocks, futures implying:S&P index up 83 pointsNASDAQ index up 340 points Looking at some of the…
EUR/GBP edges lower as UK gilt yields cool down after soft inflation data for December. Traders have raised BoE dovish bets on the back of soft inflation data. The ECB is expected to cut interest rates atleast three times this year. The EUR/GBP pair edges lower to near 0.8440 in Wednesday’s North American session. Five-day rally in the cross that was built on surging yields on United Kingdom (UK) gilts appears to be losing fuel. 30-year UK gilt yields tumble from their more-than-26-year high of 5.47% to 5.38% after the release of the soft UK Consumer Price Index (CPI) report for…
Mainstreet Equity Corp. raises dividend by 45% Source link
By Hyunsu Yim and Ju-min Park SEOUL (Reuters) -Impeached South Korean President Yoon Suk Yeol was arrested and questioned by authorities on Wednesday in relation to a criminal insurrection investigation, saying he was only cooperating with what he called an illegal probe to avoid violence. His arrest, the first ever for an incumbent South Korean president, is the latest head-spinning development for one of Asia’s most vibrant democracies even though the country has a history of prosecuting and imprisoning former leaders. Since lawmakers voted to impeach him and remove him from duties after his short-lived Dec. 3 declaration of martial…