Wall Street Today | Fed's Third Straight 0.75-Point Interest-Rate Rise Is Anticipated

Moomoo Recap US wrote a column · Sep 20, 2022 23:52

MACRO

Fed's Third Straight 0.75-Point Interest-Rate Rise Is Anticipated

The Federal Reserve is expected to approve its third consecutive interest-rate increase of 0.75 percentage point on Wednesday, while signaling plans to raise and hold its benchmark rate above 4% in coming months to battle inflation.
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"Dr. Doom" Roubini Expects a 'Long, Ugly' Recession and Stocks Sinking 40%

Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, sees a “long and ugly” recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500.

BlackRock Says Earnings Cuts Are Coming for Stocks

Nigel Bolton, BlackRock co-chief investment officer, says profit downgrades to accelerate for 2023. Among sectors, Bolton said banks stand to benefit from higher interest rates, while energy stocks are likely to be boosted over the next 6-to-12 months as supply remains tight.

SECTORS

Treasury Two-Year Yields Head for 4% Ahead of Big Fed Rate Hike

Two-year Treasury yields are poised to crack above 4% for the first time since 2007, lifted by the Federal Reserve's steepest tightening cycle in a generation.

COMPANY

Amazon's $1.7 Billion Proposed Purchase of Roomba Maker Under FTC Investigation

Federal antitrust enforcers are investigating $Amazon (AMZN.US)$'s proposal to buy Roomba maker $iRobot (IRBT.US)$according to a securities filing.

Nvidia Puts AI at Center of Latest GeForce Graphics Card Upgrade

$NVIDIA (NVDA.US)$, the most valuable semiconductor maker in the US, unveiled a new type of graphics chip that uses enhanced artificial intelligence to create more realistic images in games.
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Hertz Plans to Buy 175,000 Electric Vehicles From GM Over Five Years

$HERTZ GLOBAL HOLDINGS INC (HTZGQ.US)$ plans to buy as many as 175,000 electric vehicles from $General Motors (GM.US)$ over the next five years, the latest major step by the rental giant to embrace plug-in cars.

Ford Stock Has Biggest Daily Drop Since 2011 After Inflation Warning

$Ford Motor (F.US)$'s stock tumbled over 12% on Tuesday in its deepest one-day decline in over a decade after the automaker said inflation-related costs would be $1 billion more than expected in the current quarter and that parts shortages had delayed deliveries.

Spotify Offers Audiobook Service With 300,000 Titles

$Spotify Technology (SPOT.US)$ users will be able to purchase and listen to a catalog of more than 300,000 audiobooks from independent authors and major publishers, including titles by horror writer Stephen King, journalist Malcolm Gladwell and romance novelist Abby Jimenez.

Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance

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