Eric Wallerstein News Today

In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a five-day tailspin.

Ed Yardeni said he expects the Dow Jones Industrial Average to trade at 60,000 by 2030, while the S&P 500 will trade at 8,000.

Ed Yardeni said he expects the Dow Jones Industrial Average to trade at 60,000 by 2030, while the S&P 500 will trade at 8,000.

Eric Wallerstein, a reporter for The Wall Street Journal’s finance bureau in New York, has left the paper to join Yardeni Research as chief markets…

This lucrative situation for banks spells a cost for U.S. taxpayers. Interest payments the Fed makes on bank reserves are a liability for the central bank.

Some reactionary moves are evident in the markets as the war between Israel and Hamas continues. Eric Wallerstein, a markets reporter for The Wall Street Journal, joined CBS News and explained that gold, which he said is “a haven from turmoil,” is having its best week since March. Source

The risks to energy and financial markets are immediate and real. Oil prices surged as Israeli forces launched a counteroffensive and as questions mounted around Iran’s involvement in Hamas’ attack plans.

Investors long shrugged off U.S. deficits, but a torrent of Treasurys is testing the bond market

And more on the ongoing conflict.

Investors fear unsustainably high interest rates will spark bank-loan defaults