GoBankingRates provided several immediate impacts that would affect Wall Street and other financial institutions following US President Joe Biden’s decision to stand down from the race to the White House.
Tags: Wall Street
Wall Street Bets Big On A Softer Fed As AI Frenzy Reignites
The shift in sentiment follows remarks from a senior Fed official suggesting room for further rate adjustments. That helped push down Treasury yields and reinforce expectations of an imminent rate cut.
Stocks Fall Sharply As AI Jitters, Rate-Cut Doubts Hit Wall Street
Mixed signals from Federal Reserve officials and recent economic data have stirred uncertainty over the central bank's next move.
Is the Tech Party Over? Wall Street Bets On 'Boring' Again
Investors rotate out of AI darlings and into banks, oil and industrials as rate reality reshapes the market mood.
Global Stocks Near Record Highs as Fed Cuts Interest Rates
Global stocks are reaching record highs following recent interest rate cuts, while the Japanese yen weakened as the Bank of Japan opted not to raise rates, contrasting with trends in the US and UK.
Latest News
US President Joe Biden announced that he was standing down from the country’s presidential election this November, endorsing Vice President Kamala Harris on his stead.
Netflix is expected to report its second-quarter earnings on July 18, with everyone on Wall Street paying close attention to any of the details or information the streaming service would provide about its advertising-supported business model.
Bank of America recently announced that its second-quarter revenue and profit from investment banking and asset management fees exceeded Wall Street expectations.
Morgan Stanley reported that profits performed better than expected across the board in the second quarter of 2024 despite investors shifting to higher-yielding assets.
Defunct hedge fund firm Archegos Capital Management founder Bill Hwang has been found guilty of securities and market manipulation fraud which prosecutors claimed cost global investment banks billions.
Analyst Pierre Ferragu downgraded Nvidia's rating to neutral, citing concerns over future growth and valuation. Nvidia stock has struggled to return to its glory in the past few days.
Alirio and Jose Luis Zambrano, two of the six Citgo executives who were trapped and imprisoned in Venezuela, have accused their former company of abandoning them in a lawsuit filed in Houston.
The White House is leading a campaign stressing the importance of maintaining Federal Reserve independence, notably in light of Trump's proposals that could compromise it.
Nvidia reported a stronger-than-expected first quarter revenue forecast, including an announcement of a stock split after its shares reached the $1,000 mark.
