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  • Dec 16, 2024

US Stocks Close Higher With Fed Rate-Cut Expected: Markets Wrap

(Bloomberg) -- US stocks broadly ended Monday’s session higher as traders geared up for interest-rate decisions by major central banks across the globe due later this week. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe S&P 500 rose 0.4% while the Nasdaq 100 gained 1.5% to notch another record high. Broadcom Inc. and Tesla Inc. were among the biggest gainers of the ses

  • Dec 16, 2024

Dollar edges higher against major peers as investors eye Fed rate cut

NEW YORK/GDANSK (Reuters) -The U.S. dollar edged higher against major currencies in choppy trading on Monday, as investors eyed interest rate decisions from the Federal Reserve, Bank of Japan, Bank of England and other key central banks this week. Markets are pricing in a near 97% chance that the Fed will deliver a quarter-point interest rate cut at the end of its policy meeting on Wednesday, according to CME's FedWatch tool. "The U.S. dollar has been at the mercy of headlines not only just surrounding what the Fed is going to do but whether it's going to be deemed a hawkish cut," said Juan Perez, director of trading at Monex USA in Washington, D.C.

  • Dec 16, 2024

Bitcoin Rises to Record After Longest Weekly Winning Run Since 2021

(Bloomberg) -- Bitcoin rose to a record high on President-elect Donald Trump’s support for digital assets and optimism about the upcoming inclusion of MicroStrategy Inc., an accumulator of the token, in a key US stock gauge.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe largest virtual currency rose more than 4.8% at one point on Monday to an unprecedented $107,791, ex

  • Dec 16, 2024

US stocks end higher ahead of Fed, bitcoin surges

Megacap tech shares muscled the S&P 500 and the Nasdaq to higher closes on Monday as U.S. Treasury yields paused and investors readied for a busy central bank week. Bitcoin surged, touching a new high after U.S. President-elect Donald Trump suggested he plans to set up a bitcoin strategic reserve. The FANG group of tech and tech-adjacent momentum stocks outperformed, gaining 2.7% on the day.

  • Dec 16, 2024

Nasdaq closes at record as investors prepare for Fed rate decision

NEW YORK (Reuters) -The Nasdaq closed at a record high on Monday and the S&P 500 also rose as investors gauged the latest economic data while looking toward the Federal Reserve's final policy announcement of the year later in the week to gauge the path of interest rates. Markets have almost completely priced in a rate cut at the conclusion of the Fed's two-day policy meeting on Wednesday, with a 95.4% chance for a cut of 25 basis points (bps), according to CME's FedWatch Tool. "Maybe the market was a bit oversold last week and with almost a 100% likelihood that the Fed will cut on Wednesday, the only outstanding question is what kind of rhetoric, what kind of notes will investors get regarding guidance," said Sam Stovall, chief investment strategist of CFRA Research in New York.

  • Dec 16, 2024

Stock market today: Nasdaq hits a record as Wall Street drifts ahead of Federal Reserve's meeting

U.S. stock indexes drifted amid mixed trading Monday, ahead of this week’s upcoming meeting by the Federal Reserve that could set Wall Street’s direction into next year. The S&P 500 rose 0.4%, coming off its first losing week in the last four. The Nasdaq composite climbed 1.2% to a record, while the Dow Jones Industrial Average was a laggard and fell 110 points, or 0.3%.

  • Dec 16, 2024

Insurer stocks fall after Trump says 'we're going to knock out the middleman'

CVS Health's Caremark, Cigna's Express Scripts and UnitedHealth Group's Optum control the majority of the U.S. pharmacy benefit market, with their parent companies also operating health insurance and pharmacy businesses. Pharmacy benefit managers negotiate drug costs with pharmacies and drug manufacturers and help build drug coverage lists for health plans, mostly on behalf of employers and the government.

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