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Fed Wanted More Evidence of Cooling Inflation, Minutes Show
Federal Reserve officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy meeting. Bloomberg's Michael McKee reports on what the minutes from the June meeting said.
US Stocks Rally Into Headwinds With Jobs Data In Focus
The S&P 500 closed above 5,500 for the first time on Tuesday, its 32nd record this year, while the Nasdaq 100 also set an all-time high with its first close above 20,000. Nvidia didn't drive that climb this time around. All the while, more S&P 500 stocks have been declining since May as more headwinds line up against those gains. Investors will closely watch the upcoming nonfarm payrolls and unemployment rate releases for clues on the health of the US economy and whether the current Goldilocks narrative is starting to fade. Nour Al Ali joins Bloomberg TV to discuss.
Biden Vs. Trump: New Poll Shows President Still Very Much In Race Despite Debate Fiasco But Final Outcome Hinges On This Key Voter Group
President Joe Biden managed to close his gap with his predecessor Donald Trump and get even with the latter, according to the results of a nationwide survey of voters published on Friday.The Matchup:
The 'best contra-indicator' for the U.S. stock market has resigned.
Does the 'reverse indicator' really exist in the market? Yes, and he is JPMorgan's chief strategist. According to media reports, JPMorgan's chief global market strategist Marko Kolanovic will resign, ending his 19-year tenure, and the key reason for his resignation may be a series of erroneous judgments on US stocks during his tenure. In early 2022, when the S&P 500 index reached a phased high, Kolanovic was bullish all the way and suggested that clients significantly increase their holdings of US stocks. As a result, the S&P 500 index fell from January to October, accumulating a decline.
Index concentration is too high! Piper Sandler abandons its year-end target prediction for the S&P 500.
The macro research team of Piper Sandler, a Wall Street investment bank, will no longer release a single number forecast for the year-end target of the S&P 500 index, stating that this is an inefficient way to communicate with clients.
'Congressional stock god' takes action! Pelosi purchases call options on Broadcom, 10,000 shares of Nvidia, sells Tesla and Visa.
Analysis shows that if Nvidia continues to perform well in the second half of the year, even if the increase is only half of that in the first half of the year, Pelosi's new purchase of 10,000 shares will bring her about $1 million in profits, which is more than five times her annual salary.