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  • Sep 04, 2024

Trump Tax Cuts Would Cost More Than Almost All Federal Agencies

(Bloomberg) -- Republican nominee Donald Trump and running mate JD Vance are campaigning on a grab bag of tax cut proposals that could collectively cost as much as $10.5 trillion over a decade, a massive sum that would exceed the combined budgets of every domestic federal agency.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatThe Outsized Cost of Expanding US RoadsEven if Congress were to eliminate every dollar of

  • Sep 04, 2024

Wall Street ends slightly down after weak labor market data, dovish Fed comments

U.S. stocks finished slightly lower in choppy trading on Wednesday following labor market data and comments from a Federal Reserve official that bolster the case for an interest rate cut. Labor Department data showed that U.S. job openings fell to a 3-1/2-year low in July, indicating continued easing of labor market tightness that could strengthen the Fed's hand to begin cutting rates at its next meeting later this month. The benchmark S&P 500 and Nasdaq edged to a lower close while the Dow ended slightly higher.

  • Sep 04, 2024

Rate Options Show Rising Bets on a Half-Point Fed Cut This Month

(Bloomberg) -- Rate options traders stepped up wagers that the Federal Reserve will kick off its easing cycle with a half-percentage-point cut this month, reflecting the increasing speculation that policymakers will act aggressively to keep the economy from sputtering.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatThe Outsized Cost of Expanding US RoadsOptions tied to the Secured Overnight Financing Rate show tha

  • Sep 04, 2024

US oil, gas M&A nears 2023 record, focus shifts away from Permian, Rystad says

U.S. oil and gas producers' appetite for dealmaking is closing in on last year's record, with rising interest in smaller oilfields offsetting slower activity in the top oil-producing Permian Basin, analysts at consultancy firm Rystad said on Wednesday. Nearly $100 billion has been spent by U.S. producers on mergers and acquisitions so far this year, and another $46 billion in assets are currently for sale, according to a Rystad analysis through late August. A record $155 billion worth of production and exploration focused deals were signed in 2023, according to Rystad's tally.

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