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The first data releases since Federal Reserve Chairman Kevin Warsh took office suggest that inflation has subsided, making his job a little easier. As yet there’s no case for a cut in interest rates, because the labor market is firm and year-over-year inflation is still running well above the Fed’s 2% target. For the moment, though, the case for higher rates is looking less persuasive.
This helps the new chairman: If the current policy rate of 3.5%-3.75% strikes investors as about right, he has less explaining to do. During his testimony to Congress last week, he wisely refrained from declaring victory and said the Fed shouldn’t read too much into a single month’s figures. Unfortunately, the job is likely to get harder from here.
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US lawmakers are pressing President Donald Trump’s team to close a loophole they say the administration created in China tech restrictions, but which a key agency denies exists. It’s yet another example of the persistent confusion surrounding Washington’s efforts to limit China’s AI prowess.
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Generic drug manufacturers will have two years to move production to the US or face a 100% import duty, Donald Trump said — and levies would double the following year. The tariffs risk driving up prices and causing shortages of medicines ranging from everyday painkillers and antibiotics to cholesterol and cancer drugs. Another tariff salvo is expected by Friday, with Trump poised to target dozens of trading partners.
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U.S. stocks rallied strongly and the Dow notched a record high close on Monday, boosted by solid manufacturing data and optimism around earnings and U.S.-Iran peace hopes, while the yen slumped to a three-month low after a historic bout of coordinated U.S.-Japanese intervention.
Stocks are on the front foot. US futures rose as investors turn their focus to corporate earnings after weeks dominated by concerns over tech valuations and the Middle East. Palantir surged premarket after raising its forecasts on “otherworldly” commercial sales. Oil ticked
For all the talk of an artificial intelligence bubble that could take down the global economy, the biggest players in the space are spending — and planning to spend — like there’s no chance it can happen. The four largest companies in the data center race have committed nearly
While the Fed left interest rates unchanged Wednesday afternoon, three out of the 12 members on the central bank’s policymaking committee voted for a hike. The opposition to holding borrowing costs steady reflected growing concern that inflation has remained above the Fed’s 2%
Stock Market News July 31: Dow, S&P 500 and Nasdaq finish higher, capping off volatile month in the green; Nasdaq sees biggest monthly drop since March. A strong end-of-July comeback rally continued for a second day.
Apple was down nearly 9% after earnings, almost entirely because of the unprecedented DRAM shortage; it can't compete with the hyperscalers willing to pay whatever it takes to secure memory supply. The iPhone maker delivered an earnings beat but gave weaker guidance for the
Wall Street got back to its winning ways last week after navigating a hawkish Federal Reserve meeting, volatile swings in chip stocks, and a critical round of Big Tech earnings. The Dow Jones Industrial Average rose 1% for the week, snapping a three-week losing streak. The S&P
The first data releases since Federal Reserve Chairman Kevin Warsh took office suggest that inflation has subsided, making his job a little easier. As yet there’s no case for a cut in interest rates, because the labor market is firm and year-over-year inflation is still running
US lawmakers are pressing President Donald Trump’s team to close a loophole they say the administration created in China tech restrictions, but which a key agency denies exists. It’s yet another example of the persistent confusion surrounding Washington’s efforts to limit China’s
