News
Important Only
S&P 500 ends market session with gains for the first time in 6 days
The S&P 500 finally snapped its six-day losing streak on Wednesday, closing 0.5% higher as investors rushed into beaten-down tech stocks. The Nasdaq Composite jumped by 1.2%, while the Dow Jones Industrial Average fell by 0.2%, extending its own three-day slide, according to data from CNBC. FuturesCryptopolitan
Thu, Mar 13
JPMorgan holds 5% stake in mining major Rio Tinto for clients
March 13 (Reuters) - JPMorgan Chase JPM.N holds a 5.36% stake in Australia's mining conglomerate Rio Tinto RIO.AX for the bank's clients, an exchange filing to the local bourse showed on Thursday.Last week, the Anglo-Australian mining giant completed its $6.7 billion acquisition of the U.S.-...Reuters
Thu, Mar 13
US October-February budget deficit hits record $1.147 trillion
WASHINGTON, March 12 (Reuters) - The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February deficit for President Donald Trump's first full month in office that was up 4% from a year earlReuters
Thu, Mar 13
Trump threatens further tariffs as EU, Canada retaliate for those already in place
WASHINGTON, March 12 (Reuters) - Donald Trump threatened on Wednesday to escalate a global trade war with further tariffs on European Union goods, as major U.S. trading partners said they would retaliate for trade barriers already erected by the U.S. president.Reuters
Thu, Mar 13
Who is new Intel CEO Lip-Bu Tan?
March 12 (Reuters) - Intel INTC.O tapped former board member Lip-Bu Tan as its CEO on Wednesday, as the struggling American chipmaking icon attempts to emerge from one of its bleakest periods.Tan, a respected semiconductor industry veteran who will take the mantle on March 18, had been seen as a CEO...Reuters
Thu, Mar 13
EXCLUSIVE-US food giants PepsiCo, Conagra seek to exempt some imports from tariffs, trade group says
NEW YORK, March 12 (Reuters) - Major packaged food makers including Quaker Oats and Folgers coffee asked U.S. President Donald J. Trump for targeted exemptions from tariffs on imports like cocoa and fruit, according to a letter seen by Reuters.
Reuters
Wed, Mar 12
Oil up 2% on tighter US supplies but tariff concerns loom
Brent, WTI rise 2%US crude stocks rise, fuel inventories fall, EIA saysDollar struggles as global trade tensions ramp upCooling inflation offers temporary reliefOPEC sticks to global oil demand forecastsBy Stephanie Kelly and Arunima Kumar NEW YORK, March 12 (Reuters) - Oil prices rose 2% on Wedn...Reuters
Wed, Mar 12
Fed seen resuming interest-rate cuts in June as inflation heads lower
March 12 (Reuters) - Cooler inflation could allow Federal Reserve policymakers to resume interest-rate cuts later this year, with traders betting Tuesday on three quarter-point reductions in the policy rate by the end of 2025, starting in June.Reuters
Wed, Mar 12
Puma faces weak U.S. demand, plans job cuts as shares plunge
Company forecast currency-adjusted sales below last year's levelManagement flags weak U.S. market, announces 500 job cutsPuma shares down 23%By Linda Pasquini and Alexander Hübner March 12 (Reuters) - Puma PUMG.DE on Wednesday announced job cuts and warned of uncertain U.S. consumer demand as...Reuters
Wed, Mar 12
China says US has undermined fentanyl cooperation by imposing tariffs
BEIJING, March 12 (Reuters) - China said on Wednesday that the U.S. has undermined bilateral counter-narcotics cooperation by imposing tariffs on Chinese goods over fentanyl, calling on Washington to stop using the issue as a bargaining chip to "blackmail" the country.U.S. President Donald Trump...
Reuters
Wed, Mar 12
UK stocks rise as Ukraine ceasefire hopes lift sentiment
March 12 (Reuters) - British shares rose on Wednesday after a selloff in the previous session after Kyiv said it was ready to support Washington's proposal for a 30-day ceasefire with Russia, while positive corporate earnings boosted the domestically focussed index.Reuters
Wed, Mar 12
World soybean stockpiles might be smaller than they seem: Braun
NAPERVILLE, Illinois, March 11 (Reuters) - Every oilseed trader is familiar with the present narrative: the world is awash with soybeans.It's true, global soybean stocks are set to hit record highs later this year. The situation is not exactly tight. But supplies are now expected to fall well...Reuters
Wed, Mar 12
AUD/USD oscillates below 0.6300 ahead of US Inflation data
The AUD/USD pair trades in a tight range below the key level of 0.6300 in Wednesday’s European session. The Aussie pair consolidates as investors await the United States (US) Consumer Price Index (CPI) data for February, which will be published at 12:30 GMT.
Fxstreet
Wed, Mar 12
Berenberg raises AbbVie PT on higher immunology drug sales
** Berenberg raises PT on drugmaker AbbVie ABBV.N to $195 from $165, citing higher immunology drug sales ** New PT is a 8.7% downside to stock's last close** Brokerage says AbbVie knows the autoimmune market well ** Says co reduced exposure to antirheumatic drug Humira and bolstered cash flows t...
Reuters
Wed, Mar 12
EIA reduces oil surplus estimates – ING
Despite the ongoing uncertainty in global markets, oil prices managed to settle higher yesterday, supported by the weaker USD. Even so, ICE Brent continues to trade below US$70/bbl and prices will likely remain sensitive to external developments. The oil market seems to be largely ignoring...Fxstreet
Wed, Mar 12
EUR/USD stays firm on US recession risks, US inflation in focus
EUR/USD ticks lower but stays near a five-month high, trading at 1.0920 in European trading hours on Wednesday. The major currency pair remains firm as the US Dollar (USD) is broadly on the backfoot due to increased concerns over the United States (US) economic outlook under the leadership of...
Fxstreet
Wed, Mar 12
Trump’s Recession Odds: 50-50? U.S. 2025 GDP Growth Might Slip to 1% Range
TradingKey – Less than eight weeks into Trump’s return to the White House, fears of a U.S. economy have surged. Yet the economic landscape he inherited appears relatively strong: inflation has cooled from previous highs, unemployment rate remains low, and his policies seem poised to disrupt the...TradingKey
Wed, Mar 12
German economy minister says defence and infrastructure spending should be discussed separately
FRANKFURT, March 12 (Reuters) - Germany's outgoing economy minister Robert Habeck said on Wednesday that any decision on defence funding and support for Ukraine should be discussed separately from plans to boost infrastructure investments."Investment in defence capabilities and support for U...Reuters
Wed, Mar 12
