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Bowman stated that inflation progress appears to have stalled. Analysts suggest she may oppose further rate cuts in December if the labor market remains robust.
Governor Lisa Cook noted it may be appropriate to reduce rates to a more neutral stance over time, while Vice Chair for Supervision Michael Barr affirmed he would continue his term, regardless of Trump’s potential return.
Bridgewater Co-CIO Bob Prince speculated that Trump might nom...
Governor Lisa Cook noted it may be appropriate to reduce rates to a more neutral stance over time, while Vice Chair for Supervision Michael Barr affirmed he would continue his term, regardless of Trump’s potential return.
Bridgewater Co-CIO Bob Prince speculated that Trump might nom...
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Petronas Petrochemicals $PCHEM (5183.MY)$ With a significant increase in forex losses, in the third quarter of the 2024 fiscal year (ending September), the company went from profit to loss, with a major loss of 0.789 billion ringgit, compared to a net profit of 0.424 billion ringgit in the same period last year.
This is also the first time Petronas Petrochemicals has incurred a quarterly loss since its listing.
Nevertheless, Petronas Chemicals Group recorded a revenue of 7.986 billion ringgit in the third quarter, a year-on-year increase of 17.72%.
In the first 9 months of the current financial year, Petronas Chemicals Group netted 0.656 billion ringgit, a drastic 58.59% year-on-year decline, while revenue increased by 8.20% year-on-year to 23.213 billion ringgit.
Petronas Chemicals Group stated that due to the weakening of the US dollar against the ringgit, the company incurred unrealized foreign exchange losses in revaluing accounts payable to its subsidiary, Pengerang Petrochemical Company (PPC), and in revaluing shareholder loans extended to PPC, becoming the main reason for the third quarter's profit turning into a loss.
PPC is a company operating in US dollars. The recent weakness of the US dollar against the ringgit has resulted in a forex loss of 0.536 billion ringgit when the accounts payable are reassessed, while the reassessment of shareholder loans has also caused a forex loss of 0.492 billion ringgit.
Forex losses amount to a total of 1.1 billion.
In addition to other business forex losses, Petrochemical Corporation faces a total forex loss of 1.1 billion ringgit in the third quarter.
Under the impact of the forex losses mentioned above, Petronas Chemicals Group's other expenses in the third quarter surged from 2 million ringgit in the same period last year to 11...
This is also the first time Petronas Petrochemicals has incurred a quarterly loss since its listing.
Nevertheless, Petronas Chemicals Group recorded a revenue of 7.986 billion ringgit in the third quarter, a year-on-year increase of 17.72%.
In the first 9 months of the current financial year, Petronas Chemicals Group netted 0.656 billion ringgit, a drastic 58.59% year-on-year decline, while revenue increased by 8.20% year-on-year to 23.213 billion ringgit.
Petronas Chemicals Group stated that due to the weakening of the US dollar against the ringgit, the company incurred unrealized foreign exchange losses in revaluing accounts payable to its subsidiary, Pengerang Petrochemical Company (PPC), and in revaluing shareholder loans extended to PPC, becoming the main reason for the third quarter's profit turning into a loss.
PPC is a company operating in US dollars. The recent weakness of the US dollar against the ringgit has resulted in a forex loss of 0.536 billion ringgit when the accounts payable are reassessed, while the reassessment of shareholder loans has also caused a forex loss of 0.492 billion ringgit.
Forex losses amount to a total of 1.1 billion.
In addition to other business forex losses, Petrochemical Corporation faces a total forex loss of 1.1 billion ringgit in the third quarter.
Under the impact of the forex losses mentioned above, Petronas Chemicals Group's other expenses in the third quarter surged from 2 million ringgit in the same period last year to 11...
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The rebound in U.S. Treasuries is partly attributed to optimism surrounding Kevin Warsh as a potential Treasury Secretary. As a former Fed governor, Warsh advocates for Fed independence and fiscal discipline, which could ease concerns over fiscal management. His public familiarity and career background make him a favorable candidate compared to others in the running.
$S&P 500 Index (.SPX.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $U.S. 5-Year Treasury Notes Yield (US5Y.BD)$ $U.S. 1-Year Treasury Bills Yield (US12M.BD)$ $U.S. 20-Year Treasury Bonds Yield (US20Y.BD)$
$S&P 500 Index (.SPX.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $U.S. 5-Year Treasury Notes Yield (US5Y.BD)$ $U.S. 1-Year Treasury Bills Yield (US12M.BD)$ $U.S. 20-Year Treasury Bonds Yield (US20Y.BD)$
Optimism about Trump’s potential market-friendly policies has fueled recent stock gains, as investors believe he’ll be mindful of market reactions and avoid overly aggressive strategies. However, economists warn that this exuberance could lead to overvalued stocks, with a reckoning likely if expectations fall short.
$S&P 500 Index (.SPX.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Donald Trump (LIST22962.US)$ $Trump Media & Technology (DJT.US)$
$S&P 500 Index (.SPX.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Donald Trump (LIST22962.US)$ $Trump Media & Technology (DJT.US)$
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Nuclear energy startup Oklo, backed by OpenAI’s Sam Altman, faced scrutiny from short-seller Kerrisdale, which called it a "story stock" lacking revenue and with unproven small modular reactor (SMR) feasibility. Oklo shares fell as much as 10% intraday before paring losses to close lower.
$Microsoft (MSFT.US)$ $Oklo Inc (OKLO.US)$ $S&P 500 Index (.SPX.US)$
$Microsoft (MSFT.US)$ $Oklo Inc (OKLO.US)$ $S&P 500 Index (.SPX.US)$
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U.S. stocks staged a V-shaped recovery, with $S&P 500 Index (.SPX.US)$ , $Dow Jones Industrial Average (.DJI.US)$ , and small-cap stocks turning positive in late trading, while $Nasdaq Composite Index (.IXIC.US)$ sharply narrowed its losses. $NVIDIA (NVDA.US)$ fell nearly 3% during the session but closed down 0.8%; post-market, its stock dropped as much as 5% before recovering most of the losses. Despite Q3 results beating expectations, its Q4 guidance midpoint missed the high-end estimates...
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