Asia stocks set for mixed start after Fed decision
Asian stocks looked set for a mixed start Thursday following a rally in U.S. equities spurred by speculation that Federal Reserve policy tightening will help fight inflation without derailing economic growth.
Australian shares edged down, futures climbed for Japan but those for Hong Kong slid amid concerns about more U.S. sanctions on Chinese companies.$S&P 500 Index (.SPX.US)$and$NASDAQ 100 Index (.NDX.US)$contracts climbed. Technology shares led U.S. equities to a strong close after initial declines following the Fed statement.
Fed doubles taper, signals three 2022 hikes in inflation pivot
Heralding one of the most hawkish policy pivots in years, the central bank said Wednesday it will double the pace at which it's scaling back purchases of Treasuries and mortgage-backed securities to $30 billion a month, putting it on track to conclude the program in early 2022, rather than mid-year as initially planned.
Big tech bulls are vindicated even after Fed pulls the trigger
Investors gobbled up megacap technology stocks Wednesday.$Apple (AAPL.US)$was the hot pick, rising as much as 2.9%. The world's largest company by market value is roughly 2% short of hitting a $3 trillion valuation. Megacap peers$Microsoft (MSFT.US)$and Google-owner$Alphabet-A (GOOGL.US)$also rallied off day's lows and were about 5% away from their all-time highs. The tech-heavy Nasdaq 100 was the best performing major average, rising 2.4%.
Goldman, BNY Mellon join ESG-fund stampede with 4 new ETFs
The furious pace of green-fund launches in the U.S. ETF industry showed no sign of easing Wednesday.
Elon Musk: 'I'll be surprised if we're not landing on Mars within five years'
Musk, the 50-year-old SpaceX founder and CEO who was named Time's Person of the Year, has big plans for the Red Planet: namely, a self-sustained city with solar-powered hydroponic farms where humans can permanently live, 34 million miles away from Earth.
Small-business owners had a devastating year — but they finally have hope now, according to a new survey
According to a new survey from the U.S. Chamber of Commerce Small Business Index and insurance giant MetLife, 77% of small-business owners say they're optimistic about the future of their business, and 62% say their business is in good health. Nearly half say they plan to spend more money next year than they did this year.
Investors challenge concealment clauses at large tech groups
Seven of the largest US technology companies, including$Alphabet-A (GOOGL.US)$,$Amazon (AMZN.US)$and$Meta Platforms (FB.US)$, are facing investor pressure to publish more information about their non-disclosure agreements and other concealment clauses in employment contracts.
Amid growing investor support for employee rights issues, the seven shareholder proposals filed ahead of the companies' 2022 annual general meetings requested information about the risks posed by concealment clauses.
American consumer momentum wanes just in time for the holidays
The effects of financial stimulus are wearing off and the savings rate as a percentage of disposable household income has drifted down to 2019 levels. In other words, the tailwinds pushing the spending boom are easing and momentum is waning. The result is a new, relatively flatter year-to-date trend line.
November retail sales increased 0.3% from October, falling short of the expected 0.8% rise.
Source: Bloomberg, CNBC, Financial Times
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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