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  • Dec 03, 2024

European Stocks Gain, CAC Rises Ahead of No-Confidence Vote

(Bloomberg) -- European stocks advanced for a fifth consecutive session as German shares hit a fresh record. Investors were watching the no-confidence vote taking place in France. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe Stoxx Europe 600 Index rose 0.4% by the close, with retail stocks leading the gains. Spanish retailer Inditex SA jumped to a record high ahead of earnings and Zalando S

  • Dec 03, 2024

Past Trump Tariffs Hurt US Economy, Stocks, Research Finds

(Bloomberg) -- Tariffs imposed on China during President-elect Donald Trump’s first term had negative effects for the US economy, according to newly released research from the Federal Reserve Bank of New York. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe findings come as Trump has threatened to wield tariffs more aggressively against US trading partners when he takes office in January, inje

  • Dec 03, 2024

Trump's crypto advocacy steers businesses away from traditional treasury assets

U.S. President-elect Donald Trump's pro-crypto stance is prompting small businesses to allocate portions of their cash to bitcoin, challenging the dominance of traditional assets as companies look for more robust inflation hedges. Over the past month, biotech firms Enlivex Therapeutics, Acurx Pharmaceuticals and Hoth Therapeutics have set a target of purchasing up to $1 million of bitcoin to hold as a treasury reserve asset. The moves underscore the growing appeal of bitcoin as a legitimate tool for corporate treasurers, who see it as a better alternative in a landscape fraught with economic uncertainty, geopolitical risks and fiscal concerns that have complicated the outlook for conventional assets like Treasuries and cash.

  • Dec 03, 2024

BlackRock bets on AI-driven stocks rally but US debt clouds 2025 outlook

NEW YORK (Reuters) -BlackRock expects the artificial intelligence boom to continue to boost U.S. stocks next year and support economic growth more broadly, although rising U.S. government debt levels could threaten its upbeat 2025 forecasts. Innovations in AI technology will likely benefit U.S. stocks more than their European peers, while private markets will increasingly play a key role in financing AI-related infrastructure, the BlackRock Investment Institute, a research arm of the world's largest asset manager, said on Wednesday. "We stay risk-on ... and go further overweight U.S. stocks as the AI theme broadens out," it said in a 2025 outlook report based on views of senior portfolio managers and investment executives at BlackRock, which manages $11.5 trillion in assets.

  • Dec 03, 2024

XPO, Old Dominion waiting for market turn

XPO and Old Dominion reported tonnage declines in November, but both appear to be anticipating a market recovery. The post XPO, Old Dominion waiting for market turn appeared first on FreightWaves.

  • Dec 03, 2024

Fed's Musalem expects more rate cuts, keeping options open on December meeting

St. Louis Federal Reserve President Alberto Musalem said on Wednesday he expects the U.S. central bank will be able to continue to cut interest rates but isn't ready to say what he thinks should happen at its policy meeting later this month. With inflation likely to continue to ebb to the Fed's 2% target over time, "additional easing of moderately restrictive policy toward neutral will be appropriate over time," Musalem said at a Bloomberg monetary policy conference. Financial markets expect the Fed to cut its policy rate by a quarter of a percentage point from the current 4.50%-4.75% range at its Dec. 17-18 meeting, as it seeks to adjust the stance of policy to easing inflation and a better-balanced labor market.

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