Page 21 - Us Fed News Today

The Multivariate Core Trend inflation gauge, disclosed by the bank, revealed a reading of 2.6% for October, down from Septembers 2.88%. The higher MCT level, compared to the pre-pandemic average, was attributed to specific trends in housing and non-housing services.

The entire world economy has defied pessimists, and 2023 is turning out to be a much better year than expected. The good news will spill over into 2024. Hence, one can expect markets to rise across the world. Emerging markets will see a return from a lot of the hot money withdrawn earlier on fears of a global slowdown.

Bitcoin surpasses $40,000 for the first time since May 2022, fueled by expectations of interest-rate reductions and increased demand from exchange-traded funds.

Market participants are turning their attention to upcoming policy meetings of central banks, including the Reserve Bank of India (RBI) and the US Federal Reserve.

Federal prosecutors in Manhattan brought murder-for-hire charges against Nikhil Gupta, 52, an Indian national and alleged narcotics dealer and gunrunner who was arrested in the Czech Republic in June and is awaiting extradition

The Fed began aggressively raising rates in March 2022, leading to the fastest pace of rate increases in 40 years. The central bank has yet to cut rates even as US inflation has broadly slowed this year.

The US 10-year yield decreased to 4.28%, down around 75 basis points from its recent high of 5.02%. The market is eagerly awaiting the PCE price index, a crucial inflation indicator closely monitored by the Fed.

After a phase of correction the small cap stocks segment has been able once again inch upward. Lower oil prices, softer inflation numbers and of course the fact that money chases short term performance may be the reason. However, small caps are always the riskiest place to take espouse when it comes to equity. But it is also a space where if one is able to find the right stock at the right time, gains are much higher. ET screener powered by Refinitiv’s Stock Report Plus applies different a...

Spot gold was up 0.1% to $2,043.58 per ounce by 10:17 a.m. ET (1517 GMT), after hitting its highest since May 5.

The dollar index touched a near three-month low, against its rivals, making gold less expensive for other currency holders.