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  • Dec 12, 2024

Traders add to bets the Fed will keep cutting rates next year

Traders of interest-rate futures that settle to the Federal Reserve's policy rate added to bets the central bank rate will cut borrowing costs next week and follow up next year with further reductions, after economic data showed weekly claims for unemployment insurance unexpectedly rose. Traders now see the probability of a rate cut next week at about 97%, up from about 94% before the report, and are pricing in another three quarter-point rate cuts in 2025.

  • Dec 12, 2024

ServiceTitan Shares Soar 42% in Blockbuster Market Debut

(Bloomberg) -- ServiceTitan Inc. shares climbed 42% above their initial public offering price after the residential and commercial repair software company raised $624.8 million.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamThe Glendale, California-based company’s stock closed at $101 each

  • Dec 12, 2024

NY Fed Markets Group chief Neal resigns, will exit bank in March 2025

The head of the Federal Reserve Bank of New York's powerful Markets Group, Michelle Neal, is stepping down and will leave the bank in March 2025, the bank said in a press release on Thursday. Neal will serve as a senior advisor at the bank until she exits, the bank said, adding that Neal is moving to a role in the private sector. Neal oversees the part of the New York Fed that interfaces with the financial sector.

  • Dec 12, 2024

SONAR releases Coverage Guide, an AI-powered freight market intelligence offering for brokers

In a significant advancement for the freight brokerage industry, SONAR, the leading provider of high-frequency freight market data, has unveiled the Coverage Guide, an AI-powered offering within its new Broker Tool Kit. This cutting-edge application aims to simplify the complex decision-making process for freight brokers, enhancing efficiency and profitability. The post SONAR releases Coverage Guide, an AI-powered freight market intelligence offering for brokers appeared first on FreightWaves.

  • Dec 12, 2024

Brazil’s Hawkish Rate Hike Fails to Stem Market Selloff

(Bloomberg) -- Traders dubbed Brazil’s central bank hawkish turn “a shock and awe” move that would lift the nation’s battered assets. A day later, the market is signaling it’s not enough. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamThe Brazilian real closed the session 0.5% lower, the w

  • Dec 12, 2024

S&P 500’s Record Rally Shows Cracks as Most Stocks Left Out

(Bloomberg) -- Beneath a stock market that goes from one record to the next lies a concerning trend for some Wall Street strategists: Fewer stocks are buttressing the advance.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamThe S&P 500 Index closed out its ninth consecutive day where the num

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