With the Federal Reserve poised to start cutting interest rates Wednesday, investors cautioned against policy “angst,” calling for a gradual easing cycle to build confidence in the economy.Speaking at the Future Proof festival in California, David Kelly, chief global strategist for JPMorgan Asset Management, said the central bank risked “freaking people out” by being too hawkish.“If they cut rates aggressively here, they’re going to undermine confidence,” Kelly said in an interview with Yahoo Finance. “It’s kind of like lowering a piano down from the fourth floor of the building. You’ve got to do it slowly and carefully.”The FOMC meeting is…
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Jamie, a car restoration expert, had stumbled upon a 1955 Imperial Sedan buried in a junkyard. Its classic lines and potential had caught his eye, leading him to rescue it from a certain fate at the crusher. This decision was fueled not only by his passion for vintage vehicles but also by the overwhelming response he received after sharing a revival video of a similar car. The public’s enthusiasm had inspired him to take on this ambitious project. The Imperial, once a symbol of luxury and prestige, had fallen into disrepair. It was a testament to the passage of time,…
Bright Futures will offer a second application window for financial awards in Weld County starting next month.As a workforce development program, Bright Futures provides money to high school graduates, GED recipients and honorably discharged veterans who plan to attend college or earn a trade certificate, according to a news release from the program.Bright Futures has historically offered one application deadline in May for the fall and spring academic year. For the first time, the program will open a second window from Oct. 1 to Nov. 1.To apply, students can go to brightfuturesco.com/for-students.“We are working to be more responsive to the…
Oleksandr Usyk was detained by police in KrakovFootage has emerged showing heavyweight world champion Oleksandr Usyk being detained at an airport.Usyk’s wife, Yekaterina, was among those to share a clip of her husband being led away in handcuffs.However, she also posted on her Instagram story featuring the footage: “Everything is ok, everything is fine.“Oleksandr will explain everything later!!! nothing to be criminal … Good night to you all.”His friend and coach Serge Lapin wrote on the same platform: “Don’t worry, everything’s fine. The customs control service is neglecting its duties.”🇵🇱🇺🇦 Ukrainian Boxer Oleksandr Usyk was detained at Krakow airport and…
In the underbelly of private markets lies the main culprit behind corporate failures: defective capital structuring. Frequently the result of human failings, the widespread overcapitalization of start-ups and quasi-universal overleveraging of buyouts have led to a deep-seated zombification of private markets. With interest rates remaining at or near 20-year highs, ballooning interest expenses will continue to cause cash-flow incontinence. A whole new landscape for private capital fund managers and their portfolios could shape out. Forensics in Private Markets In a segment of the economy notorious for its opacity, distressed scenarios are particularly poorly analyzed. Modern investigative techniques applied by turnaround…
Tesla’s highly anticipated robotaxi event on October 10 is just around the corner, and the excitement is building. Recent leaks suggest that the company has secured Warner Studios as the venue, a perfect setting to showcase the capabilities of its autonomous vehicles. A newly surfaced photo of a heavily camouflaged robotaxi prototype being tested on the studio grounds further confirms these rumors. While Tesla has kept the specifics of its robotaxi under wraps, it’s clear that the company has been diligently developing its autonomous technology. Previous sightings of Tesla Model 3 prototypes equipped with unusual camera placements hinted at the…
The NewsWhen I’ve told friends and sources about trips to Riyadh, Abu Dhabi, Dubai, and Doha this year, their assumption is: You’re raising money.And it’s nice to be able to answer: No, we’re chasing the story.I’m thrilled to be sharing this launch of Semafor Gulf with you, most of all because what’s happening right now in the Arabian Peninsula is one of the greatest stories in the world.We’ll be covering the huge economic transformation of the Gulf to people who need to understand the region deeply. We’ll be looking at the ways in which the Gulf’s power shapes the world.…
Traders work on the floor of the New York Stock Exchange.Spencer Platt/Getty ImagesStocks pushed higher as positive retail sales surprised investors.The data signals continued consumer strength, easing fears of a recession.All eyes are on the Federal Reserve’s likely interest rate cut on Wednesday.Stocks moved higher after stronger-than-expected US retail sales boosted confidence in consumer health, as the Federal Reserve’s two-day policy meeting is set to kick off.Retail sales increased 0.1% last month, compared to consensus estimates of a 0.2% decline. That’s welcomed news for investors, who are bracing for what is likely to be the Fed’s first interest rate cut…
A shopper pushes a shopping cart in Dallas on Feb. 21.The Federal Reserve is poised to cut its key interest rate Wednesday, the first time since the onset of the Covid-19 pandemic that it has pushed it lower.A reduction to the central bank’s federal funds rate serves as a benchmark for other borrowing costs throughout the economy. And while that move has been widely anticipated, investors have been unable to predict how large the cut will be.On Tuesday, a survey by CNBC correspondent Steve Liesman showed a majority of respondents forecasting a 0.25% cut from the current 5.3% level, even…
After moving mostly higher early in the session, stocks gave back ground over the course of the trading day on Tuesday. The Dow and the S&P 500 reached new record intraday highs in early trading but subsequently pulled back near the unchanged line.The major averages ended the day narrowly mixed. While the Dow edged down 15.90 points or less than a tenth of a percent to 41,606.18, the S&P 500 inched up 1.49 points or less than a tenth of a percent to 5,634.58 and the Nasdaq rose 35.93 points or 0.2 percent to 17,628.06.Optimism about the outlook for interest…