Author: News Room

With the U.S. stock market closed on Good Friday, investors will have the weekend to digest an employment report that moved fed-funds-futures traders to bet on an increased chance of the Federal Reserve hiking interest rates early next month. Friday’s employment report puts a “dent” in the case of investors who were betting that a recession was imminent and the Fed would begin cutting its benchmark rate soon after its May policy meeting, said Sameer Samana, a senior global market strategist at Wells Fargo Investment Institute, in a phone interview.  The Bureau of Labor Statistics said Friday the U.S. economy…

By Dan Burns and Howard Schneider (Reuters) – The Black unemployment rate hit a record low in March, a milestone for a U.S. labor market that most policymakers and economists expect to begin cooling in the face of higher interest rates, jeopardizing those historic gains. The Black unemployment rate tumbled to 5% last month from 5.7% in February, the Bureau of Labor Statistics said on Friday, perhaps the most notable data point in a report that at once displayed the resilience of the American job market but also the early signs of its vulnerability to the higher borrowing costs engineered…

By Peter Nurse Investing.com – The U.S. dollar edged higher in early European trade Thursday with weakening risk sentiment benefiting this safe haven, but remains near two-month lows as a cooling economy points to a pause in the U.S. Federal Reserve rate-hiking cycle. At 03:55 ET (07:55 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 101.625, just above the two-month low of 101.140 seen during the previous session. Economic data coming out of the U.S. has pointed to slowing economic growth, with the expanding at a more measured rate in…

By Libby George LONDON (Reuters) – Up to $520 billion in debt needs to be written off to help developing nations at greatest risk of default return to a sounder fiscal footing and meet climate and development goals, according to a Boston University report released on Thursday. The haircuts on debt owed to public and private creditors by 61 of the nations that are already in or are at most risk of debt distress are essential to avoid “cascading defaults,” according to calculations from the Boston University Global Development Policy Center and the Debt Relief for a Green and Inclusive Recovery…

© Reuters. FILE PHOTO: Harvey Weinstein departs New York Criminal Court following another day of jury deliberations in his sexual assault trial in the Manhattan borough of New York City, New York, U.S., February 21, 2020. REUTERS/Lucas Jackson/File Photo By Daniel Wiessner (Reuters) -A former model has filed a lawsuit claiming a one-time executive at movie studio Miramax raped her after luring her to a hotel with the promise of a meeting with the company’s then-Chief Executive Harvey Weinstein. The lawsuit was filed in New York state court on Thursday by Sara Ziff, who says the alleged assault by Fabrizio…

Soon after March’s sudden bank failures startled markets, April kicked off with surprise oil-production cuts that left investors worried about potential ripple effects on still high inflation. Rick Rieder, BlackRock’s chief investment officer of global fixed income and head of the firm’s global allocation investment team, said in a phone interview that when he saw news of the unexpected oil-production cuts by OPEC+, his first thought was, “here’s another log on the fire,” when it’s already “so hard” to bring down inflation. Crude prices CL00, -0.19% CL.1, -0.19% in the U.S. jumped Monday after OPEC+, a group of oil-producing countries including…

Mortgage rates are at the lowest level in two months, but consumers still think it’s a bad time to buy a home, according to a new report. Fannie Mae’s FNMA, -0.41% Home Purchase Sentiment Index, released Friday, fell by 3.3 points in March to 61.3, which is only slightly above an all-time low set late last year. “With the spring homebuying season now upon us, a large majority of consumers continue to believe that it’s a bad time to buy a home,” Mark Palim, vice president and deputy chief economist at Fannie Mae, said in a statement. “Homeowners sharing this…

The Federal Reserve soon plans to roll out its FedNow offering, a real-time payments service that will provide another option for instant payments in the U.S. The service, which is scheduled to launch in July, will let money “be transferred from the account of a sender to the account of a receiver in near real-time and at any time, any day of the year,” the Fed says on its website. See more: Fed says its instant-payments service FedNow will launch in July While the U.S. already has a real-time payment option that’s run by the Clearing House, a bank-owned association,…

Introduction As the title of this article suggests, I’m lowering my buy price for USB stock. In order to add some context to my reasoning, I am going to start this article by briefly reviewing my history with U.S. Bancorp (NYSE:USB) stock, and then I’ll explain the thinking behind my lowered buy price. I first bought USB stock a little after the March 2020 crash on 5/13/20, and I wrote about that purchase a couple of months later in my article “Stocks I Bought On The Dip: U.S. Bancorp”. I held that USB position until 12/20/21 at which point I…

A shooting in the occupied West Bank and a car-ramming in Tel Aviv killed two Israelis and a tourist on Friday, amid soaring Israeli-Palestinian tensions touched off by a raid on Jerusalem’s al-Aqsa mosque.The three deaths capped a day of violence during which Israeli jets struck sites linked to the Palestinian group Hamas in the Gaza Strip and southern Lebanon, after militants in the two territories fired salvos of rockets at Israel on Thursday.Although the exchange of fire between Israel and militants in Lebanon and Gaza ended without fatalities or escalating into a broader conflict, the later killings on Friday…