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July 9, 2019 The Week: On Monday, the Federal Reserve announced that it was cutting interest rates for the first time since the financial crisis. The cut was seen as a response to the economic slowdown that has been seen in the U.S. and around the world. The Fed also indicated that it may cut rates further if needed. The news sent stocks soaring, and the U.S. dollar fell sharply against other major currencies. On Tuesday, the Federal Reserve released its quarterly economic report, which showed that the U.S. economy is slowing. The report showed that consumer spending, business investment, and exports were all weaker than expected. The report also showed that inflation has been running below the Fed's 2% target. On Wednesday, the Federal Reserve released the minutes from its June meeting, which showed that officials were split on the decision to cut interest rates. Some officials argued for a larger cut, while others felt that a smaller cut was sufficient. The minutes also showed that the Fed was divided on what to do next, with some arguing for further rate cuts, while others were hesitant to do so. On Thursday, the Labor Department released its monthly jobs report, which showed that the U.S.
All Fed All the Time and Nvidia in the Crosshairs
The Federal Reserve's anticipated 25-basis-point rate cut has betting markets signaling confidence leading stock futures to rise. President Trump also wants to pack the central bank with allies favorable to rate cuts despite the optics of crushing the Fed's political independence. Nvidia's antitrust challenges in China, muddy the waters on U.S. trade relations as non-specific allegations of violations related to Mellanox acquisition are leveled against the chipmaker.
FTSE 100 dips ahead of Fed rate decision - UK Investor Magazine
The FTSE 100 dipped slightly on Tuesday as investors took cash off the table ahead of the Federal Reserve’s interest rate decision. London’s leading index was down 0.2% at the time of writing despite another fresh record high for US stocks. The S&P 500 closed at 6,615 and is now 12% higher year-to-date – almost […]
Gold price hits new record ahead of Fed meeting - UK Investor Magazine
Gold’s remarkable rally has continued this week as investors position themselves for an interest rate cut by the central bank amid a slowing jobs market. The gold price was last trading at $3,685 after trading a few dollars higher at a fresh record high overnight. With some investment banks calling for a 50 bps rate […]