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  • Dec 17, 2024

Dollar rises amid Fed rate cut expectations, better-than-expected retail sales data

The U.S. dollar gained against major currencies on Tuesday following better-than-expected retail sales data that showed underlying economic momentum while markets braced for interest rate moves from the Federal Reserve and other central banks. Commerce Department data on Tuesday showed U.S. retail sales surpassed expectations by jumping 0.7% in November, backed by an uptick in motor vehicle and online purchases. Markets expect the Fed will deliver a 25-basis-point interest rate cut at the end of its two-day policy meeting on Wednesday, with futures implying a nearly 97% chance of a cut, according to the CME's FedWatch tool.

  • Dec 17, 2024

Fed Set to Deliver Third-Straight Interest Rate Cut

(Bloomberg) -- Federal Reserve officials are likely to lower borrowing costs for a third-straight meeting this week while also signaling fewer interest-rate cuts next year than previously projected.Most Read from BloombergHow California Sees the World, and ItselfThe US economy has proved more resilient than what officials expected just a few months ago. Recent data shows inflation is coming down more slowly than officials anticipated, and the labor market is not weakening as much as feared. That

  • Dec 17, 2024

Tesla Will Be The 'Biggest Winner' In The Trump Era, Says Dan Ives; Predicts Nasdaq At 25,000 In 18 Months: 'Get the Popcorn Out'

Wedbush Securities analyst Dan Ives predicts a major tech sector expansion driven by artificial intelligence and deregulation under President-elect Donald Trump‘s administration, forecasting the Nasdaq could reach 25,000 within 18 months. What Happened: Speaking on CNBC’s “Closing Bell,” Ives described Trump’s incoming administration as a “Goldilocks scenario” for tech companies, citing expected regulatory relief from agencies including the Federal Trade Commission. Don’t Miss: Deloitte's fastes

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