Fed Reverse Repo Use Declines to Lowest in More Than Three Years
Some 41 counterparties tap RRP, the fewest since June 2021 Fed facility’s usage tumbled from $2.55 trillion peak in 2022 The amount of money investors park at a major Federal Reserve facility dropped below $200 billion for the first time since May 2021, reinvigorating...
US Manufacturing Activity Contracts for Seventh Straight Month
ISM’s factory index fell to lowest since July 2023 in October Production index monthly drop was most since April 2021 US manufacturing activity shrank in October for a seventh month to the lowest reading since July 2023, dragged down by a drop in production and...
US manufacturing drops to 15-month low amid higher input prices: ISM
US manufacturing activity slumped to a 15-month low in October and factories faced higher prices for inputs, the Institute for Supply Management (ISM) said on Friday. The ISM's manufacturing PMI fell to 46.5 last month, the lowest level since July 2023, from 47.2 in...
Estée Lauder Falls Most on Record After Pulling Its Guidance
Estée Lauder Cos. pulled its guidance for the year, citing uncertainty over a new chief executive and weak demand in China. The shares plunged in New York trading. The New York-based company also cut its dividend “to a more appropriate payout ratio, which will also...
Alphabet’s Waymo Valued Above $45 Billion After Funding
Waymo raised $5.6 billion to expand self-driving business Company is rapidly increasing number of ride-hailing trips Waymo, Alphabet Inc.’s autonomous driving unit, was valued at more than $45 billion, including its latest round of financing, according to people...
NPM Launches Private Share Prices as Market for Data Grows
Nasdaq Private Market product based on trades, filings Company acquired VC Experts’ 30 years of data in 2022 Nasdaq Private Market LLC is publicly launching a proprietary pricing product for private companies, joining an increasingly competitive space for data on...
Shark Tank star Kevin O’Leary supports Elon Musk’s plan to gut government spending by $2 trillion with Trump’s blessing—’release the hounds’
‘Shark Tank’ star Kevin O’Leary is enthusiastically backing Elon Musk’s plan to cut $2 trillion from federal spending—and in fact, he thinks the cuts should be even higher. If former president Donald Trump wins a second term, he has pledged to appoint Musk as head of...
US Spots First H5N1 Bird Flu Case in a Pig, Raising Concern for Humans
Flu in swine can exchange genes to emerge as human threat One of five pigs in backyard Oregon firm confirmed with H5N1 A pig tested positive for the H5N1 bird flu for the first time in the US, government officials said, a feared development that could help the virus...
Elon Musk says Trump’s economic plans could cause ‘temporary hardship’
Musk, the world's richest person, is a prominent supporter of Trump. Elon Musk, the world’s richest person, has vaulted to the forefront of the presidential campaign as a top donor and impassioned speaker in support of former President Donald Trump. Still, Musk has...
AMD Has Worst Rout in Two Years After AI Growth Disappoints
Company has been chasing Nvidia in the lucrative market AMD’s gaming revenue also comes in below analysts’ estimates Advanced Micro Devices Inc. slid 11% Wednesday after the chipmaker’s revenue outlook fell short of Wall Street’s expectations, signaling that its...
Musk says Americans will have to face ‘hardship’ if Trump wins
Trump has said he'll put the tech billionaire in charge of government "efficiency" if elected. That won't be good for Americans' wallets. Elon Musk has a new message for Americans about what to expect from a potential second Donald Trump presidency: suffering. As...
Hungary’s Economy Plunges Into Recession on Industry Slump
GDP declines 0.7% vs previous quarter; analysts’ est. +0.1% Hungary enters recession for second time in two years Hungary’s economy unexpectedly entered a recession in the third quarter as domestic consumption failed to make up for a deep downturn in industrial...
Selloff Puts Treasuries on Path for Worst Month in Two Years
Mixed US economic data on Tuesday keeps pressure on bonds Traders prepare for US debt announcement, jobs data, election Treasuries are on track for their worst month in more than two years amid signs of economic strength, posturing for next week’s US presidential...
Yellen Says Fraud is Huge, Growing Problem in Banking System
US Treasury Secretary Janet Yellen said that fraud in the banking system is becoming a huge problem and that her department is now using artificial intellignece to detect and deal with the issue. “I absolutely agree with the premise — which is that fraud is becoming a...