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By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve left interest rates unchanged on Wednesday and U.S. central bank chief Jerome Powell said the historic tightening of monetary policy is likely over, with a discussion of cuts in borrowing costs coming “into view.” Powell’s remark, made in a press conference following the end …

With Fed rate hikes likely done, Powell says timing of cuts is the next question Read More »

By Leroy Leo and Michael Erman (Reuters) – Pfizer on Wednesday forecast 2024 sales that could be as much as $5 billion below Wall Street expectations, a move top executives said provided a more reliable view of its COVID-19 business than it had this year, driving shares down to a 10-year low. Revenue from Pfizer’s …

Pfizer shares sink after it resets 2024 COVID expectations Read More »

By Jorgelina do Rosario and Rodrigo Campos BUENOS AIRES/NEW YORK (Reuters) – Argentina’s economy has many problems, and dealing with a mountain of debt repayments over the next two years could determine whether the new government’s economic road map succeeds. The country’s total sovereign debt exceeds $400 billion, some $110 billion of which is owed …

Argentina’s $400 billion ‘debt bomb’ threatens default number 10 Read More »

(Reuters) – The Dow Jones Industrial Average notched its first record high close since January 2022 on Wednesday after the Federal Reserve signaled lower borrowing costs are coming in 2024. The stock benchmark’s first all-time high in nearly two years confirmed that it has been in a bull market since tumbling more than 20% through …

Dow notches first record close in almost two years as Fed signals lower rates Read More »

NEW YORK (Reuters) – The U.S. Commodity Futures Trading Commission on Wednesday voted to approve a plan from a Chicago cryptocurrency derivatives exchange and brokerage to also act as its own registered clearinghouse. The approval of the plan by Bitnomial, an exchange founded in 2014, marks the first time the commodities regulator has voted to …

US CFTC OKs crypto firm Bitnomial’s vertical integration plan Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -The Dow Jones industrial average hit its first record closing high since January 2022 and the S&P 500 and Nasdaq ended sharply higher on Wednesday after the Federal Reserve signaled that its interest rate-hiking policy of the last two years is at an end and that it sees lower …

Dow ends at record high as Fed says it sees lower borrowing costs in 2024 Read More »

NEW YORK (Reuters) -The Federal Reserve held interest rates steady on Wednesday and signaled in new economic projections that the historic tightening of U.S. monetary policy engineered over the last two years is at an end and lower borrowing costs are coming in 2024. MARKET REACTION: STOCKS: The S&P 500 extended gains and was recently …

Fed flags end of rate hikes, sees lower borrowing costs in 2024 Read More »

(Reuters) -Elon Musk’s SpaceX will sell insider shares at $97 apiece in a tender offer, a price increase that boosts the value of the space and satellite company closer to $180 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. The world’s second-most valuable closely-held startup was discussing a tender offer that …

Musk’s SpaceX value jumps closer to $180 billion in tender offer – Bloomberg News Read More »

By Mike Scarcella (Reuters) – “Fortnite” maker Epic Games won a major antitrust trial against Alphabet’s Google in San Francisco, persuading a federal jury on Monday that some of the technology giant’s rules for its app Play store violated U.S. competition law. Here’s a look at what’s next in the case, and other major antitrust …

Explainer-Epic Games verdict adds to Google’s global antitrust woes Read More »