By Anna Szymanski LONDON, Dec 11 – By Anna Szymanski, Editor in Charge, Reuters Open Interest What matters in U.S. and global markets today The Federal Reserve gave markets an early holiday gift yesterday, as the widely expected 25 basis point interest rate cut was accompanied by a less-hawkish-than-anticipated tone from Chair Jay Powell, positive soundings about U.S. productivity, …
By Pritam Biswas and Manya Saini Dec 10 (Reuters) – Credit card giant American Express’ network saw a 9% growth in U.S. retail consumer spending around the key Thanksgiving holiday week, CEO Stephen Squeri said on Wednesday. For payments firms, the year-end weeks are crucial, bringing a predictable surge in shopping and travel. Holiday promotions, …
AmEx reports 9% rise in US retail spending over Thanksgiving week, CEO says Read More »
By Howard Schneider WASHINGTON, Dec 10 (Reuters) – The U.S. Federal Reserve may not give President Donald Trump all the rate cuts he wants, but the view of the economy policymakers included in new economic projections on Wednesday should buoy the administration nonetheless with its outlook for faster growth, lower inflation and steady unemployment heading …
Dec 10 (Reuters) – Billionaire Elon Musk on Wednesday hinted at a possible SpaceX initial public offering in a social media exchange with Ars Technica space journalist Eric Berger, following reports of a possible listing of the rocket maker in 2026. “As usual, Eric is accurate,” Musk said, in reply to Berger’s post saying “Here’s …
Musk hints at possible SpaceX IPO in X post after media reports Read More »
By Sayantani Ghosh SAN FRANCISCO, Dec 10 (Reuters) – Apple CEO Tim Cook met U.S. House members on Wednesday to push back against federal legislation that could require the iPhone maker to authenticate users’ ages and possibly collect sensitive data on children, lobbying instead to put the onus on parents to decide whether to tell …
Apple CEO pushes for changes in US child online safety bill, citing privacy concerns Read More »
Dec 10 (Reuters) – BP, Woodside Energy and Chevron were the top winners on Wednesday at the U.S. government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023. The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U.S. President Donald Trump’s …
BP, Woodside and Chevron are big winners at Gulf of Mexico oil and gas auction Read More »
By Zaheer Kachwala Dec 10 (Reuters) – Adobe forecast fiscal 2026 revenue and profit above Wall Street expectations on Wednesday, signaling strong demand for the Photoshop maker’s design tools and increasing monetization for its artificial intelligence offerings. Since the launch of ChatGPT in 2022, Adobe has made heavy bets on generative AI with its Firefly …
Adobe sees upbeat annual results on AI, design software strength Read More »
By Juby Babu and Stephen Nellis Dec 10 (Reuters) – Oracle forecast sales and profit that missed analyst estimates on Wednesday, while saying that spending would rise by $15 billion compared with earlier estimates – a sign that big capital outlays to chase AI cloud-computing customers is not turning into profit as fast as Wall …
Oracle forecasts miss Wall Street targets while spending rises, shares slide 10% Read More »
By Michael S. Derby WASHINGTON, Dec 10 (Reuters) – The Federal Reserve on Wednesday said it would imminently start buying short-dated government bonds to help manage market liquidity levels to ensure the central bank retains firm control over its interest rate target system. The technically oriented purchases will commence on Friday, the central bank said …
Fed says it will start technical buying of Treasury bills to manage market liquidity Read More »
By Howard Schneider and Ann Saphir WASHINGTON, Dec 10 (Reuters) – A sharply divided Federal Reserve cut interest rates on Wednesday but signaled borrowing costs are unlikely to drop further in the near term as it awaits clarity on the direction of a job market showing signs of softening, inflation that “remains somewhat elevated” and …
Divided Fed lowers rates, signals pause and one cut next year as growth rebounds Read More »
