By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell said on Monday the three U.S. inflation readings over the second quarter of this year “add somewhat to confidence” that the pace of price increases is returning to the Fed’s target in a sustainable fashion, remarks that suggest a turn to interest rate cuts may […]
Wall St ends higher as investors firm bets on Trump win, rate cuts
By Stephen Culp NEW YORK (Reuters) -Wall Street closed higher on Monday, building on Friday’s rally as increasing expectations of a second Donald Trump presidency in the wake of a failed assassination attempt raised hopes of a looser regulatory environment. The growing probability that the U.S. Federal Reserve will begin cutting its key interest rate […]
Goldman Sachs profit tops estimates on robust debt underwriting, fixed-income trading
By Saeed Azhar and Niket Nishant NEW YORK (Reuters) -Goldman Sachs’ profit more than doubled in the second quarter and beat analysts’ estimates on strong debt underwriting and fixed-income trading, but slipped from a bumper first quarter when earnings were the highest since 2021. The resilience of the U.S. economy has given corporate executives the […]
Amazon Prime Day sales to hit record $14 billion, data firm says
By Ananya Mariam Rajesh and Arriana McLymore (Reuters) – Shoppers are likely to spend roughly $14 billion during Amazon’s Prime Day two-day shopping event this week, according to projections from Adobe Analytics, a firm that studies e-commerce transaction data. Spending at Amazon on Tuesday and Wednesday could rise 10.5% from Prime Day 2023, Adobe said. […]