By Stephen Culp (Reuters) – U.S. stocks slumped on Wednesday after the U.S. Federal Reserve held key interest rates unchanged as widely expected, and revised economic projections higher with warnings that the battle against inflation was far from over. All three major U.S. stock indexes retreated in the wake of announcement, with interest rate sensitive…
Gold futures have been on an impressive winning streak for the past five days, a feat not witnessed since January, according to Dow Jones Market data. This remarkable ascent persisted even after the recent Federal Reserve announcement, further solidifying the market’s resilience. In its latest update, the Federal Reserve opted to keep its benchmark fed…
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 1% to a one-week low on Wednesday after the U.S. Federal Reserve left interest rates unchanged as widely expected, but stiffened its hawkish stance with a further rate increase projected by the end of the year. Brent futures for November delivery fell 81 cents, or…
By Greg Bensinger (Reuters) – Amazon.com Inc on Wednesday unveiled a slate of new and refreshed devices and updated its Alexa voice assistant with generative artificial intelligence to attract users to the unprofitable product as competition grows from chatbots like Google’s Bard. Alexa will converse more naturally, losing its robotic tone of nearly a decade,…
(Updated at 4:23 p.m. ET with closing prices) By Stephen Culp NEW YORK (Reuters) -Wall Street lost ground on Tuesday, with risk-off sentiment weighing as the U.S. Federal Reserve convened for its much-anticipated two-day monetary policy meeting. All three indexes ended the session lower in a broad sell-off ahead of the Fed’s interest rate announcement…
By Patrick Wingrove (Reuters) – Eli Lilly on Tuesday said it was suing 10 U.S. medical spas, wellness centers and compounding pharmacies for selling products claiming to contain tirzepatide, the active ingredient in its diabetes drug Mounjaro which is expected to be approved for weight loss later this year. In four separate lawsuits filed in…
By Stephanie Kelly (Reuters) -Oil prices rose to 10-month highs on Tuesday before easing, as investors took profits following three sessions of gains that followed extended production cuts from Saudi Arabia and Russia. Global benchmark Brent crude futures settled 9 cents lower at $94.34 a barrel. Earlier, it hit a session peak of $95.96 a…
Waiting Game: The gold trading community appears to be in a holding pattern ahead of this week’s monetary policy update from the Federal Reserve and other central bank rate decisions. The most-active gold futures contract on New York’s Comex, December, settled at $1953.70 per ounce, with a minimal increase of just 30 cents for the…
By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve officials, who have tentatively embraced the possibility they can squelch inflation without a recession, meet this week with an autoworkers strike, a possible federal government shutdown, and a student loan squeeze on consumers posing new risks to that best-case outcome. The United Auto Workers launched a…
By Herbert Lash NEW YORK (Reuters) – Global equities slid and the 10-year Treasury yield traded close to a 16-year high on Monday amid rising concerns that the Federal Reserve’s higher-for-longer message on interest rates will take a toll on U.S. consumers. Rising oil prices, a possible government shutdown in less than two weeks and…
