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S&P 500 Crosses 5,600 Mark for the First Time, Records 7th Straight Winning Session

The U.S. stock market had another big day on Wednesday. This was particularly the case for the S&P 500, which crossed the 5,600 mark for the first time ever while recording its seventh straight winning session. S&P 500 soared 1.02% or 56.93 points to climb...

Recession and Falling Stocks Incoming if Fed Doesn’t Cut Rates Says Wharton Professor Jeremy Siegel

Economist Jeremy Siegel, Professor of Finance at the Wharton School of the University of Pennsylvania, has issued a warning on recession and falling stocks if the Federal Reserve doesn’t cut interest rates in September. During a recent appearance on CNBC, Siegel explained that a recent...

S&P 500 and Nasdaq Reach New Highs as New Data Show Softening Economy

Even a shorter trading session on Wednesday ahead of the U.S. Independence Day market close on Thursday was enough to push the S&P 500 and Nasdaq Composite to new heights. The two indexes benefited from the release of new data that showed a softening...

Fed Chair Jerome Powell Says More Evidence is Needed Before Rate Cuts

Speaking with reporters on Tuesday, Federal Reserve Chair Jerome Powell said that the U.S. central bank is satisfied with the fact that inflation is showing signs of cooling down. However, Powell pointed out that more evidence is needed before the Fed can start making...

U.S. Inflation Shows Signs of Cooling Down, Increases Prospect of Fed Rate Cut

The U.S. inflation is showing further signs of cooling down according to the latest data released by Commerce Department's Bureau of Economic Analysis. The personal consumption expenditures (PCE) price index, which the Federal Reserve uses as its preferred inflation indicator, remained flat in May while...

Federal Reserve Project One Rate Cut in 2024

During a meeting on Wednesday, the Federal Reserve kept its benchmark interest rate unchanged. Additionally, the U.S. central bank projected just one interest rate cut compared to the previously expected three cuts. The Fed’s rate remained steady for almost a full year at 5.25% to...