Key Takeaways The Federal Reserve cut rates by 50 basis points (0.50%) at yesterday’s policy meeting. This marks the first time the central bank has lowered rates since the pandemic. The top high-yield savings accounts still earn APYs up to 5.25% — for now. Yesterday, the Federal Reserve finally dropped rates by 50 basis points (0.50%) after much anticipation. Although that’s good news for borrowers, savings rates will start to decline over time. However, the key thing to keep in mind is that savings rates won’t drop overnight. In the past year, banks started quietly cutting rates in anticipation of…
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Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from Wall Street overnight, as the markets react to the US Fed’s decision to lower interest rates for the first time in over four years, aggressively slashing rates by half a percentage point. Fed officials also suggested the central bank will cut rates by another 50 basis points by the end of the year. Asian Markets closed mostly higher on Wednesday.Fed officials also expect to continue lowering rates next year, with the projections indicating rates will be lower by another full percentage point by the end…
Listen to Odd Lots on Apple PodcastsListen to Odd Lots on SpotifySubscribe to the newsletterThis week, the Fed cut benchmark rates by 50 basis points. Lower financing costs should be a relief for companies that need to borrow in the form of bonds or loans. But, the weird thing about the previous few years of high rates and high inflation is how much corporate credit has defied expectations. While defaults increased slightly, there wasn’t a huge wave of bankruptcies. And most companies haven’t really had trouble finding financing, with a smorgasbord of options available to them — including from the…
(Bloomberg) — Korea Zinc Co. shares jumped to a record on speculation private equity firm MBK Partners will raise its offer to gain control of the world’s biggest refiner of the metal.Most Read from BloombergMBK teamed up with Young Poong Corp., Korea Zinc’s largest shareholder, to launch an offer last week. The bid came as two branches of the founding family of the metal producer are locked in a dispute over the management of the business founded more than 50 years ago. The deal is also attracting political opposition.Korea Zinc jumped as much as 8.1% to a record on Thursday,…
The artificial intelligence revolution has been a mixed bag for software companies. While software stocks that harness the power of large language models (LLMs) have the potential to accelerate revenues, AI also gives software customers the potential to “do-it-yourself.”For instance, private buy-now-pay-later company Klarna recently announced it would attempt to get rid of its Salesforce and Workday software in lieu of building its own CRM and employee management software internally, through the use of AI.Yet AI software platform Palantir (NYSE: PLTR) is showing an acceleration in its commercial business due to the advent of AI. And one Wall Street analyst…
Toyota is taking the powerful V8 engine from the Lexus IS 500 and putting it into a racing version of the GR Supra, but it’s not for regular street use. 2022 Lexus V8 Engine Powering Toyota Supra (Via Lexus) This V8-powered Supra will compete in the Repco Supercars Championship, an intense racing series in Australia known for close, high-speed battles on tough road circuits. Toyota’s race car will use the same 5.0-liter V8 engine found in Lexus models, which typically produces 472 horsepower and 401 lb-ft of torque, but the race version will likely have more power. Although it’s a…
By Jaspreet KalraMUMBAI (Reuters) – The Indian rupee rose to its strongest level in over six weeks on Thursday after the Federal Reserve kicked off policy easing with a 50-basis-point rate cut, but traders expect importer dollar bids to limit the currency’s immediate gains.The rupee was at 83.66 against the U.S. dollar as of 10:20 a.m. IST, up 0.1% compared to its close at 83.75 in the previous session.The local currency touched a peak of 83.6650 in early trade, its highest since Aug. 1.The dollar index initially fell to its year-to-date low after the Fed’s rate cut verdict on Wednesday…
Image source: Getty Images The Lloyds (LSE: LLOY) share price is an intriguing case. For years, it’s been one of the FTSE 100‘s most underwhelming performers. The stock has always looked cheap. Yet it never budged. However, in recent times, it seems investors have finally realised its potential. Shares in the high street bank are up 21.8% year to date. In the last 12 months, they’ve climbed an impressive 36.5%. With its recent surge, Lloyds is up 5.5% over the last five years. Finally, patient long-term shareholders are starting to see a return on their investment. But after its stellar…
Im Fondshandel an der Börse Frankfurt ziehen die Umsätze langsam, aber sicher wieder an. Während bei Aktienportfolios vielfach Gewinne realisiert werden, stehen Gold- und US-Dollar-Geldmarktfonds mehrheitlich auf den Einkauflisten. 19. September 2024. FRANKFURT (Börse Frankfurt).Es war wieder etwas mehr los“, erklärt Matthias Präger die Sommerpause im Fondshandel offiziell für beendet. Vor allem im Segment der Edelmetalle sei die Aktivität der Anlegerinnen und Anleger in den vergangenen Wochen überdurchschnittlich noch gewesen. Auffällig waren laut dem Händler vor allem die Transaktionen während des jüngsten Goldpreisanstiegs. Das Edelmetall hat ein neues Rekordhoch bei rund 2.590 US-Dollar erreicht. Starke Nachfrage beoachtete Präger in Folge im…
ROME (Reuters) – A storm system that has wreaked havoc across central Europe brought devastating floods to the northern Italian region of Emilia-Romagna on Thursday, forcing people to leave their homes and the closure of schools. About 1,000 people have been evacuated, acting regional president Irene Priolo told RAI public radio, saying however this was a much lower figure compared to major floods that plagued the region last year. In Lugo, a town of about 30,000 people west of Ravenna, authorities ordered the evacuation of all ground floor residences after the local Senio river broke its banks. A low-pressure system…