On a significant day for financial markets, the Federal Reserve conducted its third consecutive interest rate cut, reducing its key overnight borrowing rate by 25 basis points. This adjustment brings the target range to 4.25% to 4.5%, matching levels from December 2022, a period marked by rising rates. While anticipated by investors, the critical focus
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Oracle Corporation faced a notable decline in its stock price during extended trading on Monday, with shares dropping by 7%. This downturn followed the company’s fiscal second-quarter earnings release, which revealed disappointing results that did not align with analysts’ expectations. Despite the company’s significant milestones, such as a year-over-year sales growth of 9%, investors reacted
As the political landscape heats up in anticipation of looming government shutdowns, discussions surrounding important legislative measures like the Social Security Fairness Act have come to the forefront. This proposed law seeks to address long-standing inequities in the Social Security system, specifically impacting public workers. However, with bipartisan enthusiasm also come concerns about the potential
On a turbulent Thursday, Micron Technology experienced a staggering 16% plunge in its shares, marking one of the most significant declines since the onset of the COVID-19 pandemic in March 2020. The company’s stock fell to approximately $86.78 in early afternoon trading, which translates to a dramatic decrease of about 45% from its peak reached
On Wednesday, Wall Street experienced a significant shock after the Federal Reserve announced its decision to limit rate cuts moving forward. The CBOE Volatility Index, commonly referred to as the VIX, experienced a dramatic surge of 74%, raising its closing value to 27.62. It’s worth noting that this spike marks one of the most substantial
Nvidia’s stock faced a significant downturn on Monday, marking its official entry into correction territory despite a buoyant performance by the broader Nasdaq Composite, which reached record highs. This decline is particularly noteworthy given that Nvidia’s shares had surged by an impressive 166% throughout the year—a testament to the sustained excitement surrounding advancements in artificial
As the political landscape shifts with the election of Donald Trump, discussions surrounding tariffs have intensified, raising concerns about their potential ramifications on various industries, particularly automotive manufacturing. The prospect of increased tariffs on imports, especially from China, Mexico, and Canada, poses significant implications for vehicle pricing and availability in the United States. Tariffs serve
As 2024 progresses, the Federal Reserve’s recent decision to lower its interest rate target three times has sparked hopeful speculation among Americans with mortgage aspirations. However, the reality might be far less optimistic. Financial experts, like Jordan Jackson from J.P. Morgan Asset Management, suggest that despite these cuts, prospective homeowners should brace themselves for mortgage
In a notable turn of events this year, the Federal Reserve implemented its third interest rate cut in 2024 during a meeting this past Wednesday. This decision has been pivotal in shaping the economic landscape, particularly within the housing market. Despite the Fed’s efforts to lower borrowing costs through the adjustment of its benchmark interest
In an unprecedented move that has sent shockwaves across the retail landscape, Party City announced the immediate closure of all its stores, prompting company-wide layoffs. The announcement, made by CEO Barry Litwin during a corporate meeting, has left employees grappling with the abrupt end of their jobs, as Friday was declared the final working day