Buried in a rote US Treasury survey released on the eve of the latest holiday weekend was a question that all of Wall Street wants the answer to: What’s the Federal Reserve’s plan once it’s done drawing down its crisis-era bond holdings?
Citi—which anticipates five rate cuts in 2025—has a downbeat forecast for a meager 0.7 percent growth. Bank of America is forecasting an above-consensus 2.4 percent growth for the year, hence their view for no rate cuts. ING, meanwhile, expects two percent growth.
Nvidia Corp., the poster child of the AI frenzy, sank 17 per cent and headed toward the biggest market-cap loss for a single stock in market history. The AI leader wiped of $500 billion of its market value and shed 21 per cent off its stock price in two days.
Eastern time, the S&P 500 was 0.3 per cent higher. The Dow Jones Industrial Average was up 0.3 per cent and the Nasdaq Composite was 0.8 per cent higher
Wall Street’s main indexes closed higher on Tuesday, with the S&P 500 and the Dow hitting their highest in more than a month, as investors assessed Donald Trump’s first actions as president and breathed relief that he did not start his second term with blanket tariff increases.
Wall Street is pointing slightly lower in early trading but is on track to close the week with solid gains on healthy quarterly earnings reports from large U.S. corporations.
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Shares are mixed in Asia after U.S. stocks edged back from their all-time high, with many regional markets closed for lunar new year holidays
Wall Street's tech giants dragged US frontline indices on Monday after China's AI startup DeepSeek rattled Silicon Valley and hit the top of Apple’s App Store chart
Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 climbed 0.
The moves came as Federal Reserve officials started their two-day meeting, with fed-funds futures traders expecting no change in interest rates on Wednesday from the current range of 4.25% to 4.50%.