We break down complex business news to help you understand how money moves in Chicago and how it affects you. NEW YORK — The Dow Jones Industrial Average closed at another all-time high after recouping its losses from early September. The S&P 500 rose close to its own record, but was held back by losses in Big Tech companies like Apple and Nvidia. The Dow added 0.6% Monday, the S&P 500 rose 0.1% and the Nasdaq composite fell 0.5%. The mixed results came ahead of the most anticipated meeting of the Federal Reserve in years. More traders are betting that…
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Merit Medical Systems To Purchase Cook Medical’s Lead Management Portfolio In $200M Deal, Seeks To Enhance Its Position In Cardiac Intervention MarketTuesday, Merit Medical Systems, Inc. (NASDAQ:MMSI) agreed to purchase Cook Medical’s lead management portfolio for cash consideration of approximately $210 million.Merit expects to fund the transaction through cash on hand and borrowings under its long-term credit facility. The deal is expected to close in the fourth quarter of 2024.Cook Medical’s lead management business provides a comprehensive end-to-end product portfolio of medical devices and accessories used in lead management procedures for patients who need a pacemaker or an implantable cardioverter-defibrillator…
By Ann Saphir (Reuters) – Traders on Tuesday kept bets the Federal Reserve will start an expected series of interest rate cuts with a half-percentage-point move downward on Wednesday, an expectation that may itself put pressure on central bankers to deliver just that. Futures tied to the Fed policy rate as of Tuesday mid-morning implied about a two-in-three chance of a bigger cut, versus a one-in-three chance of the more moderate 25 basis-point reduction still penciled in by analysts at most major Wall Street firms. The Fed starts its two-day policy setting meeting today, and will meet again in early…
Baystreet.ca – Futures tied to Canada’s main stock index rose on Tuesday on expectations of a bigger interest-rate cut by the U.S. Federal Reserve later this week, while losses in commodity prices capped gains. The regained 133.42 points to conclude Monday at 23,702.07, an all-time record. September futures on the S&P/TSX index were up 0.1% Monday. The nicked higher 0.03 cents to 73.63 cents U.S. Futures picked up 0.2%. In company news, First Quantum Minerals (TSX:) opened a voluntary retirement scheme to workers at the Cobre Panama mine as the company waits for a government decision on restarting the operation.…
Harry’s longtime friend and fellow polo player previously told PEOPLE that he’s glad to see Harry thriving as a dadNacho Figueras/Instagram Nacho Figueras and Prince Harry in a photo Figueras posted to Instagram on Sept. 15, 2024.Nacho Figueras is shouting out Prince Harry’s 40th birthday in a sweet way on social media.The Duke of Sussex turned 40 on Sept. 15, and Figueras marked the milestone with a heartfelt tribute on Instagram the same day.”Happy 40th brother. From the polo fields to all the moments in between, I’m grateful for the bond we share,” the professional polo player wrote below a…
EUR/USD fluctuates in a tight channel above 1.1100 on Tuesday. Hawkish comments from ECB officials support the Euro. August Retail Sales data will be featured in the US economic docket. EUR/USD benefited from the selling pressure surrounding the US Dollar (USD) and climbed to its highest level in 10 days above 1.1100 on Monday. The pair stays relatively quiet and trades in a tight channel early Tuesday. The technical outlook suggests that the bullish outlook remains unchanged, with a possibility of a technical correction in the near term. Euro PRICE This week The table below shows the percentage change of…
In a challenging market environment, Poema Global Holdings (GGR) stock has reached a 52-week low, dipping to $0.83. This significant downturn reflects a broader trend for the company, which has seen its stock value plummet by 67.68% over the past year. Investors have been cautious as the company navigates through a period marked by economic headwinds and industry-specific obstacles. The 52-week low serves as a critical indicator of the current investor sentiment and the pressures facing Poema Global Holdings in maintaining its market position amidst a competitive and rapidly changing landscape. In other recent news, Gogoro Inc. has reported a…
The American automotive world has witnessed the rise and fall of countless automakers, each leaving its mark on the industry. Nash Motors, founded by former GM president Charles W. Nash in 1916, was no exception. Renowned for its innovative features like heating and ventilation systems, unibody construction, seat belts, and compact cars, Nash Motors faced the challenges of the competitive market and eventually merged with Hudson in 1954 to form American Motors Corporation (AMC). One of Nash Motors’ most notable vehicles, the Ambassador, stood out as a luxurious and stylish sedan for three decades. Often referred to as “the Kenosha…
Investors are growing increasingly confident that the global economy can achieve a soft landing, in which inflation retreats without a large drawdown in economic activity.In Bank of America’s August Global Fund Manager Survey, released on Tuesday, 79% of respondents said a soft landing is the most likely outcome for the global economy in the next 12 months. This marked the highest percentage of respondents projecting such an outcome since May 2023.For now, economists largely feel the economy can maintain this path. Recent data has shown signs of cooling in the labor market. But layoffs remain low, and a rapid rise…
The Ferrari 550 Maranello, introduced in 1996, marked a significant departure from the mid-engine sports cars that had dominated the brand’s lineup for decades. This two-seat grand tourer revived the classic front-engine, rear wheel drive layout, a configuration last seen in the iconic 365 GTB/4 Daytona. Its success spawned the 575M Maranello, a refined and more powerful evolution of the original. While often considered similar, the 550 and 575M exhibit distinct differences. The latter boasts a larger and more potent V12 engine, a redesigned interior, improved braking and handling, and a host of other mechanical enhancements. These upgrades, reflected in…