Author: Press Room
© Reuters. Central Bank President Luis Caputo speaks during a news conference at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, July 22, 2018. REUTERS/Marcos Brindicci/File Photo By Jorgelina do Rosario and Jorge Otaola BUENOS AIRES (Reuters) – Argentine former central banker Luis Caputo, frontrunner to be the new economy minister, met local and international bank officials on Friday to lay out the economic plans of President-elect Javier Milei, three sources and a banking group said. The meeting at the La Rural conference center in Buenos Aires comes as Milei, who has pledged “shock therapy” for the embattled…
© Reuters. Bank of America strategists, led by Savita Subramanian, have laid out an optimistic forecast for the , predicting the index will reach a new high of 5,000 by the end of 2024. This bullish outlook follows a notable monthly surge in the index, which saw its strongest gain since July of the previous year. The bank’s equity team has identified a transition in market dynamics from broad macroeconomic concerns to a focus on individual company performance, dubbing the current climate a “stock picker’s paradise.” This shift is underscored by a significant increase in “idiosyncratic alpha,” which suggests that…
Ionis Pharmaceuticals files to sell ordinary shares
Vice President Kamala Harris faced criticism on social media after sharing a post of her and second husband Doug Emhoff posing next to a gas stove on Thanksgiving despite the Biden administration’s proposal earlier this year advocating for the ban of gas stoves.”From our family to yours, Happy Thanksgiving,” Harris posted on X.Several conservatives pointed out the gas stove in the photo. “Is that a gas stove?” Rep. Mike Collins, R-Ga., responded. Former Wisconsin Governor Scott Walker and America First activist Laura Loomer also posted about the observation.MORE THAN TWO DOZEN DEMOCRATS JOIN GOP IN OPPOSING BIDEN GAS STOVE BAN Vice President…
Dow Jones Industrial Averagegetty Dow Jones Industrials are in rally mode with a straight up look since the lows of late October, but there’s no “new high” like the Nasdaq 100. Among the 30 large capitalization stocks that make up the Dow, there are 4 names that have been a real drag on the index this month. Cisco Sytems, Walmart WMT , Chevron CVX and Walgreens Boots Alliance WBA are being sold in November even as others have been making new 52-week. Each of the individual names has a reason but it’s clear that they’re weakness is keeping the Dow…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US online shopping hit record highs on Thanksgiving Day and is expected to surge through the holiday weekend, as Black Friday sales fuel bumper consumer spending in the world’s biggest economy.Shoppers spent more than $5.5bn online on Thanksgiving Day, an all-time high, according to Adobe Analytics, a data provider that tracks sales from 85 of the top 100 internet retailers in the US. Online shopping on Black Friday is expected to hit $9.6bn in sales, up nearly 6 per cent from last…
Amid the ongoing economic challenges, Luis de Guindos, Vice President of the European Central Bank (ECB), has voiced concerns over multiple risks facing the eurozone. During the XXVIII Economics Meeting in S’Agaró today, de Guindos emphasized the potential impact of labor cost increases on financial stability, particularly in light of Spain’s minimum wage (SMI) salary debate. He urged for responsible fiscal policies that align with the ECB’s monetary stance. De Guindos also noted significant progress in reducing inflation from double digits to below three percent, despite the lag in monetary policy effectiveness, which is estimated to take twelve to eighteen…
© Reuters. FILE PHOTO: Shoppers are reflected in a Black Friday sign outside a shop in Singapore November 22, 2023. REUTERS/Edgar Su By Siddharth Cavale, Helen Reid and Arriana McLymore NEW YORK/LONDON/RALEIGH, N.C. (Reuters) -Shoppers took to stores across the world on a Black Friday that appeared to be subdued compared to prior years, looking for discounted electronics, clothing and household goods in the kickoff to the holiday shopping season crucial to big retailers. Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. Discounts…
Ideanomics regains compliance with Nasdaq listing rules
© Reuters. The New Zealand dollar (NZD) saw an uptick today, approaching a key resistance level as global markets reacted to a mix of economic signals and political changes. The currency edged closer to the 200-day Simple Moving Average (SMA) benchmark of 0.6100, buoyed by a decline in oil prices and the formation of a new center-right government in Wellington. Investors’ mood was lifted by the news of anticipated OPEC+ production cuts alongside an increase in US oil stockpiles, leading to lower oil prices. Additionally, the successful conclusion of coalition negotiations that ushered in the new government in New Zealand,…