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  • Oct 08, 2024

Wall Street closes higher on tech buying as investors wait on inflation data

(Reuters) -Wall Street's benchmarks finished up on Tuesday, recouping some of the previous session's losses, as investors bought back in to technology stocks and investors shifted their focus to upcoming inflation data and the start of third-quarter earnings season. All three of the main indexes suffered a sell-off on Monday, falling roughly 1% each, as they were pressured by surging Treasury yields, escalating Middle East tensions, and a re-evaluation of U.S. rate expectations. The easing of Treasury yields somewhat on Tuesday, however, meant investors were drawn to high-growth stocks, which benefit from lower debt costs to fuel their growth, such as technology companies.

  • Oct 08, 2024

Crypto.com sues US SEC after receiving legal threat from regulator

The crypto trading platform said its move follows the receipt of a "Wells notice" from the top U.S. markets regulator on the grounds that tokens traded on its platform qualified as securities. A Wells notice is a formal declaration that the regulator's staff intend to recommend an enforcement action. The SEC declined to comment.

  • Oct 08, 2024

Fed's Collins expects more rate cuts amid confidence inflation is easing

Federal Reserve Bank of Boston President Susan Collins said on Tuesday that with inflation trends growing weaker it is very probable that the U.S. central bank can deliver more interest rate cuts. "Further adjustments of policy will likely be needed," Collins said in the text of a speech to be delivered before a conference at her bank. Noting that Fed officials predicted half a percentage point's worth of cuts by year-end at their policy meeting in September, she said "I will stress that policy is not on a pre-set path and will remain carefully data dependent, adjusting as the economy evolves."

  • Oct 08, 2024

Fed’s Collins Says Rate Cuts Should Be Careful, Data-Based

(Bloomberg) -- Federal Reserve Bank of Boston President Susan Collins said policymakers should use a careful, data-dependent approach as they lower interest rates to help preserve the strength of the US economy. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould

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